Overview In December 2022, Norway exported NOK989M and imported NOK666M from South Korea, resulting in a positive trade balance of NOK323M. Between December 2021 and December 2022 the exports of Norway have decreased by NOK-392M (-28.4%) from NOK1.38B to NOK989M, while imports decreased by NOK-370M (-35.7%) from NOK1.04B to NOK666M.
Trade In December 2022, the top exports of Norway to South Korea were Fish (not marine mammals), crustaceans, molluscs... (NOK339M), Non-ferrous metals (NOK235M), General industrial machinery and equipment, n.e.s.,... (NOK136M), Professional, scientific and controlling instruments and... (NOK78M), and Power-generating machinery and equipment (NOK29M). In December 2022 the top imports of Norway from South Korea were Road vehicles (including air-cushion vehicles) (NOK349M), Electrical machinery, apparatus and appliances, n.e.s.,... (NOK71.6M), Machinery specialized for particular industries (NOK42.6M), Telecommunications and sound-recording and reproducing apparatus... (NOK25.1M), and General industrial machinery and equipment, n.e.s.,... (NOK17.4M).
Growth In December 2022, the decrease in Norway's year-by-year exports to South Korea was explained primarily by an decrease in product exports in Non-ferrous metals (NOK-132M or -53.9%), Chemical materials and products, n.e.s. (NOK-16.3M or -74.2%), and Iron and steel (NOK-12.5M or -76.6%). In December 2022, the decrease in Norway's year-by-year imports from South Korea was explained primarily by an decrease in product imports in Rubber manufactures, n.e.s. (NOK-10.9M or -67.1%), Metalworking machinery (NOK-6.84M or -98.7%), and Power-generating machinery and equipment (NOK-2.78M or -46.9%).