Norway (NOR) and Sweden (SWE) Trade | OEC - The Observatory of Economic Complexity

About

Norway-Sweden In 2021, Norway exported $13.7B to Sweden. The main products that Norway exported to Sweden are Crude Petroleum ($6.15B), Electricity ($567M), and Refined Petroleum ($518M). During the last 26 years the exports of Norway to Sweden have increased at an annualized rate of 4.52%, from $4.33B in 1995 to $13.7B in 2021.

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 In 2021, Sweden exported $17.4B to Norway. The main products that Sweden exported to Norway were Refined Petroleum ($1.54B), Broadcasting Equipment ($647M), and Sawn Wood ($522M). During the last 26 years the exports of Sweden to Norway have increased at an annualized rate of 4.34%, from $5.75B in 1995 to $17.4B in 2021.

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 2021, Norway ranked 38 in the Economic Complexity Index (ECI 0.69), and 33 in total exports ($164B). That same year, Sweden ranked 8 in the Economic Complexity Index (ECI 1.54), and 32 in total exports ($185B).

Latest Trends

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March, 2023

About

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Overview In March 2023, Norway exported NOK15B and imported NOK10.5B from Sweden, resulting in a positive trade balance of NOK4.48B. Between March 2022 and March 2023 the exports of Norway have increased by NOK251M (1.71%) from NOK14.7B to NOK15B, while imports decreased by NOK-648M (-5.82%) from NOK11.1B to NOK10.5B.

Trade In March 2023, the top exports of Norway to Sweden were Petroleum, petroleum products and related materials (NOK6.16B), Non-ferrous metals (NOK575M), Electric current (NOK520M), Fish (not marine mammals), crustaceans, molluscs... (NOK339M), and Gas, natural and manufactured (NOK253M). In March 2023 the top imports of Norway from Sweden were Petroleum, petroleum products and related materials (NOK1.62B), Road vehicles (including air-cushion vehicles) (NOK638M), Electric current (NOK573M), Manufactures of metals, n.e.s. (NOK422M), and Miscellaneous manufactured articles, n.e.s. (NOK378M).

Growth In March 2023, the increase in Norway's year-by-year exports to Sweden was explained primarily by an increase in product exports in Petroleum, petroleum products and related materials (NOK1.79B or 40.9%), Gas, natural and manufactured (NOK160M or 172%), and Non-ferrous metals (NOK153M or 36.4%). In March 2023, the decrease in Norway's year-by-year imports from Sweden was explained primarily by an decrease in product imports in Tobacco and tobacco manufactures (NOK-93.4M or -32.5%), Metalliferous ores and metal scrap (NOK-22.2M or -13.2%), and Other transport equipment (NOK-12.1M or -35.4%).

Latest Trade

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Flow

Time Scale

Value

EXPORT GROWTH (March 2022 - March 2023): NOK251M, (1.71%)

IMPORT GROWTH (March 2022 - March 2023): NOK-648M, (-5.82%)

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.

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Historical Data

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Bilateral Trade by Products

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Depth

Value

Year

In 2021, Norway exported $13.7B to Sweden. The main products exported from Norway to Sweden were Crude Petroleum ($6.15B), Electricity ($567M), and Refined Petroleum ($518M). During the last 26 years the exports of Norway to Sweden have increased at an annualized rate of 4.52%, from $4.33B in 1995 to $13.7B in 2021.

In 2021, Sweden exported $17.4B to Norway. The main products exported from Sweden to Norway were Refined Petroleum ($1.54B), Broadcasting Equipment ($647M), and Sawn Wood ($522M). During the last 26 years the exports of Sweden to Norway have increased at an annualized rate of 4.34%, from $5.75B in 1995 to $17.4B in 2021.

Market Competitiveness

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Color

SectionYear

Norway
Top Destination: United Kingdom, $33.5B

Sweden
Top Destination: Germany, $19.1B

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 2021, countries that imported more from Norway than Sweden were United Kingdom ($33.5B), Germany ($31.5B), and Netherlands ($12.2B).

In 2021, countries that imported more from Sweden than Norway were United States ($15.2B), Finland ($11.9B), and Denmark ($14.5B).

Comparative Advantage Norway - Sweden

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Flow

Scale

Year

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

During 2021, Norway had a large net trade with Sweden in the exports of Mineral Products ($7.64B), Metals ($1.34B), and Animal Products ($786M).

During 2021, Sweden had a large net trade with Norway in the exports of Machines ($4.53B), Mineral Products ($2.08B), and Chemical Products ($1.45B).

Service Trade

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Bilateral Service Trade

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Swe YearNor Year

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.

Economic Complexity

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Competitive Landscape

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Year

This visualization show the product space at the HS4 level colored from blue to yellow. This mean that the more blue a dot/product is, the more Norway has comparative advantage over Sweden. Similarly, the more yellow a dot/product is, the more Sweden has comparative advantage over Norway.

About

Latest Trends

About

Latest Trade

Historical Data

Bilateral Trade by Products

Market Competitiveness

Comparative Advantage Norway - Sweden

Service Trade

Bilateral Service Trade

Economic Complexity

Competitive Landscape

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