Overview In June 2023, Norway exported NOK186M and imported NOK387M from Latvia, resulting in a negative trade balance of NOK200M. Between June 2022 and June 2023 the exports of Norway have increased by NOK23.8M (14.7%) from NOK162M to NOK186M, while imports decreased by NOK-30M (-7.19%) from NOK417M to NOK387M.
Trade In June 2023, the top exports of Norway to Latvia were Fish (not marine mammals), crustaceans, molluscs... (NOK39.1M), Cork and wood (NOK24.9M), Road vehicles (including air-cushion vehicles) (NOK8.22M), General industrial machinery and equipment, n.e.s.,... (NOK5.3M), and Electrical machinery, apparatus and appliances, n.e.s.,... (NOK4.98M). In June 2023 the top imports of Norway from Latvia were Manufactures of metals, n.e.s. (NOK64.7M), Cork and wood manufactures (excluding furniture) (NOK42.1M), Prefabricated buildings; sanitary, plumbing, heating and... (NOK35.4M), Cork and wood (NOK31.1M), and Miscellaneous manufactured articles, n.e.s. (NOK26.5M).
Growth In June 2023, the increase in Norway's year-by-year exports to Latvia was explained primarily by an increase in product exports in Cork and wood (NOK17.7M or 245%), Fish (not marine mammals), crustaceans, molluscs... (NOK9.81M or 33.5%), and Road vehicles (including air-cushion vehicles) (NOK6.76M or 461%). In June 2023, the decrease in Norway's year-by-year imports from Latvia was explained primarily by an decrease in product imports in Other transport equipment (NOK-4.92M or -82.3%), Inorganic chemicals (NOK-4.55M or -73.2%), and Non-metallic mineral manufactures, n.e.s. (NOK-2.21M or -38.9%).