Overview In July 2021 Norway exported NOK15.8M and imported NOK240M from Russia, resulting in a negative trade balance of NOK224M. Between July 2020 and July 2021 the exports of Norway have decreased by NOK-6.88M (-30.3%) from NOK22.7M to NOK15.8M, while imports increased by NOK44.9M (23.1%) from NOK195M to NOK240M.
Trade In July 2021, the top exports of Norway to Russia were Metal working machinery (NOK10.4M), Photographic and optical goods (NOK4.54M), Fish, crustaceans, molluscs and prep. thereof (NOK607k), Plastics in non-primary forms (NOK99k), and Prefabricated buildings (NOK90k). In July 2021 the top imports of Norway from Russia were Prefabricated buildings (NOK156M), Photographic and optical goods (NOK32M), Inorganic chemicals (NOK26.6M), Miscellaneous edible products (NOK19.2M), and Travel goods, handbags etc. (NOK2.9M).
Growth In July 2021, the decrease in Norway's year-by-year exports to Russia was explained primarily by an decrease in product exports in Photographic and optical goods (NOK-17.7M or -79.5%), Prefabricated buildings (NOK-164k or -64.6%), and Inorganic chemicals (NOK-94k or -100%). In July 2021, the increase in Norway's year-by-year imports from Russia was explained primarily by an increase in product imports in Inorganic chemicals (NOK26.5M or 27.6k%), Prefabricated buildings (NOK14.1M or 9.91%), and Miscellaneous edible products (NOK6.01M or 45.6%).