Norway (NOR) and Italy (ITA) Trade | The Observatory of Economic Complexity

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Norway-Italy Trade: In 2023, Norway exported $5.25B to Italy. The main products that Norway exported to Italy were Petroleum Gas ($2.92B), Crude Petroleum ($740M), and Non-fillet Fresh Fish ($587M). Over the past 5 years the exports of Norway to Italy have increased at an annualized rate of 22%, from $1.94B in 2018 to $5.25B in 2023.

In 2009, Norway exported services to Italy worth $480M, with Other business services ($157M), Transportation ($157M), and Financial services ($72.4M) being the largest in terms of value.

Italy-Norway Trade: In 2023, Italy exported $2.86B to Norway. The main products that Italy exported to Norway were Valves ($137M), Wine ($132M), and Iron Pipes ($122M). Over the past 5 years the exports of Italy to Norway have increased at an annualized rate of 1.18%, from $2.7B in 2018 to $2.86B in 2023.

In 2020, Italy exported services to Norway worth $158M, with Travel ($53.7M), Other business services ($47.5M), and Transportation ($29M) being the largest in terms of value.

Comparison: In 2023, Norway ranked 44 in the Economic Complexity Index (ECI 0.47), and 33 in total exports ($187B). That same year, Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B).

Latest Trends

December, 2024

About

Overview In December 2024, Norway exported NOK2.78B and imported NOK2.73B from Italy, resulting in a positive trade balance of NOK56.5M. Between December 2023 and December 2024 the exports of Norway have increased by NOK262M (10.4%) from NOK2.52B to NOK2.78B, while imports decreased by NOK-66.6M (-2.38%) from NOK2.79B to NOK2.73B.

Trade In December 2024, the top exports of Norway to Italy were Petroleum, petroleum products and related materials (NOK1.16B), Fish (not marine mammals), crustaceans, molluscs... (NOK635M), Non-ferrous metals (NOK221M), Iron and steel (NOK184M), and Miscellaneous manufactured articles, n.e.s. (NOK45.1M). In December 2024 the top imports of Norway from Italy were General industrial machinery and equipment, n.e.s.,... (NOK449M), Iron and steel (NOK284M), Electrical machinery, apparatus and appliances, n.e.s.,... (NOK155M), Vegetables and fruit (NOK115M), and Road vehicles (including air-cushion vehicles) (NOK111M).

Growth In December 2024, the increase in Norway's year-by-year exports to Italy was explained primarily by an increase in product exports in Petroleum, petroleum products and related materials (NOK605M or 109%), Iron and steel (NOK163M or 780%), and Fish (not marine mammals), crustaceans, molluscs... (NOK54.6M or 9.4%). In December 2024, the decrease in Norway's year-by-year imports from Italy was explained primarily by an decrease in product imports in Inorganic chemicals (NOK-51.5M or -87.6%), Machinery specialized for particular industries (NOK-37.3M or -30.2%), and Metalworking machinery (NOK-30.7M or -58.1%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (December 2023 - December 2024)NOK262M(10.4%)

IMPORT GROWTH (December 2023 - December 2024)NOK-66.6M(-2.38%)

This section shows exports and imports data at subnational level for Norway. Click any date in the line plot or any product to explore the exports or imports behavior of Norway over time.

To check Italy and Norway trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Norway exported $5.25B to Italy. The main products exported from Norway to Italy were Petroleum Gas ($2.92B), Crude Petroleum ($740M), and Non-fillet Fresh Fish ($587M). During the last 5 years the exports of Norway to Italy have increased at an annualized rate of 22%, from $1.94B in 2018 to $5.25B in 2023.

In 2018, Italy exported $2.86B to Norway. The main products exported from Italy to Norway were Valves ($137M), Wine ($132M), and Iron Pipes ($122M). During the last 5 years the exports of Italy to Norway have increased at an annualized rate of 1.18%, from $2.7B in 2023 to $2.86B in 2018.

Exports from Norway () to Italy () (2023)

Exports from Italy () to Norway () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Norway
Top DestinationGermany$33.8B

Italy
Top DestinationGermany$71.4B

This map shows whether countries import more from Norway or Italy. Each country is colored based on the difference in imports they receive from Norway and Italy or the difference in the growth in imports.

In 2023, countries that imported more from Norway than Italy included Sweden ($15.9B), Denmark ($12.7B), and Finland ($6.38B).

In 2023, countries that imported more from Italy than Norway included United States ($70.9B), France ($61.1B), and Germany ($71.4B).

Difference in imports from Italy () and Norway () (2023)

Comparative Advantage Norway - Italy

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Norway and Italy by product, considering products traded by both, Norway and Italy.

During 2023, Norway had a large net trade with Italy in the exports of Mineral Products ($3.68B), Animal Products ($603M), and Transportation ($394M).

During 2018, Italy had a large net trade with Norway in the exports of Machines ($968M), Metals ($382M), and Foodstuffs ($329M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Norway Italy+$507MCrude Petroleum

Top Product Potential Italy Norway+$49.3MCars

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

Ita Year

Nor Year

In 2009, Norway exported services to Italy worth $480M, with Other business services ($157M), Transportation ($157M), and Financial services ($72.4M) being the largest in terms of value.

In 2020, Italy exported services to Norway worth $158M, with Travel ($53.7M), Other business services ($47.5M), and Transportation ($29M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Norway () to Italy () (2009)

Services Exports from Italy () to Norway () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Norway and Italy. This means that a dot/product with the flag of Norway indicates it has a comparative advantage over Italy. Similarly, a dot/product with the flag of Italy indicates it has a comparative advantage over Norway.

About

Latest Trends

About

Latest Trade

Historical Data

Bilateral Trade by Products

Exports from Norway () to Italy () (2023)

Exports from Italy () to Norway () (2023)

Market Competitiveness

Difference in imports from Italy () and Norway () (2023)

Comparative Advantage Norway - Italy

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Norway () to Italy () (2009)

Services Exports from Italy () to Norway () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Norway () and Italy () (2023)

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