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2022
Flag → Flag
Exports $17.7BRnk 5 / 209
2022
Flag → Flag
Top Product $8.93BCrude Petroleum
2022
Flag → Flag
Exports $18.7BRnk 2 / 217
2022
Flag → Flag
Top Product $2.97BRefined Petroleum
2022
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Economic Complexity (ECI) ECI 0.54Rnk 43 / 133
2022
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Economic Complexity (ECI) ECI 1.49Rnk 9 / 133
2022
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GDP$579BCURRENT US$
Rnk 24 / 186
2012-2022
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GDP GROWTH13%CURRENT US$
Rnk 141 / 186
2022
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 GDP$586BCURRENT US$
Rnk 23 / 186
2012-2022
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GDP GROWTH6.06%CURRENT US$
Rnk 151 / 186
2022
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GDP PC $106,149CURRENT US$
Rnk 3 / 186
2012-2022
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GDP PC GROWTH3.89%CURRENT US$
Rnk 131 / 186
2022
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GDP PC$55,873CURRENT US$
Rnk 13 / 186
2012-2022
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GDP PC GROWTH-3.73%CURRENT US$
Rnk 149 / 186

About

Norway-Sweden Trade: In 2022, Norway exported $17.7B to Sweden. The main products that Norway exported to Sweden were Crude Petroleum ($8.93B), Refined Petroleum ($1.29B), and Electricity ($749M). Over the past 5 years the exports of Norway to Sweden have increased at an annualized rate of 17.3%, from $7.94B in 2017 to $17.7B in 2022.

In 2009, Norway exported services to Sweden worth $4.52B, with Other business services ($1.43B), Travel ($974M), and Computer and information services ($646M) being the largest in terms of value.

Sweden-Norway Trade: In 2022, Sweden exported $18.7B to Norway. The main products that Sweden exported to Norway were Refined Petroleum ($2.97B), Broadcasting Equipment ($679M), and Electricity ($545M). Over the past 5 years the exports of Sweden to Norway have increased at an annualized rate of 6.35%,  from $13.8B in 2017 to $18.7B in 2022.

In 2020, Sweden exported services to Norway worth $5.8B, with Travel ($1.81B), Other business services ($1.34B), and Transportation ($935M) being the largest in terms of value.

Comparison: In 2022,  Norway ranked 43 in the Economic Complexity Index (ECI 0.54), and 28 in total exports ($285B). That same year, Sweden ranked 9 in the Economic Complexity Index (ECI 1.49), and 33 in total exports ($194B).

Latest Trends

October, 2024

About

Overview In October 2024, Norway exported NOK10B and imported NOK10.6B from Sweden, resulting in a negative trade balance of NOK535M. Between October 2023 and October 2024 the exports of Norway have decreased by NOK-1.71B (-14.6%) from NOK11.7B to NOK10B, while imports increased by NOK1.11B (11.8%) from NOK9.46B to NOK10.6B.

Trade In October 2024, the top exports of Norway to Sweden were Petroleum, petroleum products and related materials (NOK6.68B), Non-ferrous metals (NOK599M), Electric current (NOK465M), Fish (not marine mammals), crustaceans, molluscs... (NOK445M), and Road vehicles (including air-cushion vehicles) (NOK244M). In October 2024 the top imports of Norway from Sweden were Petroleum, petroleum products and related materials (NOK1.96B), Road vehicles (including air-cushion vehicles) (NOK770M), Electric current (NOK714M), Manufactures of metals, n.e.s. (NOK461M), and Miscellaneous manufactured articles, n.e.s. (NOK438M).

Growth In October 2024, the decrease in Norway's year-by-year exports to Sweden was explained primarily by an decrease in product exports in Electric current (NOK-55.8M or -10.7%), Gas, natural and manufactured (NOK-49.2M or -19.5%), and Iron and steel (NOK-42.9M or -18.6%). In October 2024, the increase in Norway's year-by-year imports  from Sweden was explained primarily by an increase in product imports  in Petroleum, petroleum products and related materials (NOK338M or 20.8%), Metalliferous ores and metal scrap (NOK148M or 101%), and Electric current (NOK141M or 24.6%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (October 2023 - October 2024)NOK-1.71B(-14.6%)
IMPORT GROWTH (October 2023 - October 2024)NOK1.11B(11.8%)

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 Sweden and Norway trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Sweden and Norway Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Norway exported $17.7B to Sweden. The main products exported from Norway to Sweden were Crude Petroleum ($8.93B), Refined Petroleum ($1.29B), and Electricity ($749M). During the last 5 years the exports of Norway to Sweden have increased at an annualized rate of 17.3%, from $7.94B in 2017 to $17.7B in 2022.

In 2017, Sweden exported $18.7B to Norway. The main products exported from Sweden to Norway were Refined Petroleum ($2.97B), Broadcasting Equipment ($679M), and Electricity ($545M). During the last 5 years the exports of Sweden to Norway have increased at an annualized rate of 6.35%, from $13.8B in 2022 to $18.7B in 2017.

Exports from Norway (Flag) to Sweden (Flag) (2022)

Exports from Sweden (Flag) to Norway (Flag) (2022)

Market Competitiveness

Color
Norway
Top DestinationGermany$78.1B
Sweden
Top DestinationGermany$19.2B

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

In 2022, countries that imported more from Norway than Sweden included Germany ($78.1B), United Kingdom ($59.1B), and France ($25.9B).

In 2022, countries that imported more from Sweden than Norway included United States ($17.8B), Denmark ($14.6B), and Finland ($13.4B).

Difference in imports from Sweden (Flag) and Norway (Flag) (2022)

Comparative Advantage Norway - Sweden

Flow
Scale

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

During 2022, Norway had a large net trade with Sweden in the exports of Mineral Products ($11.5B), Metals ($1.36B), and Animal Products ($826M).

During 2017, Sweden had a large net trade with Norway in the exports of Mineral Products ($4.4B), Machines ($4.22B), and Metals ($1.47B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Norway Sweden+$554MPetroleum Gas
Top Product Potential Sweden Norway+$159MCars

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

In 2009, Norway exported services to Sweden worth $4.52B, with Other business services ($1.43B), Travel ($974M), and Computer and information services ($646M) being the largest in terms of value.

In 2020, Sweden exported services to Norway worth $5.8B, with Travel ($1.81B), Other business services ($1.34B), and Transportation ($935M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Norway (Flag) to Sweden (Flag) (2009)

Services Exports from Sweden (Flag) to Norway (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Norway (Flag) and Sweden (Flag) (2022)

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