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Pricing

2022
Flag → Flag
Exports $5.08BRnk 12 / 209
2022
Flag → Flag
Top Product $906MRefined Petroleum
2022
Flag → Flag
Exports $4.63BRnk 44 / 219
2022
Flag → Flag
Top Product $680MPlanes, Helicopters, and/or Spacecraft
2022
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Economic Complexity (ECI) ECI 0.54Rnk 43 / 133
2022
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Economic Complexity (ECI) ECI 1.47Rnk 10 / 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$25.5TCURRENT US$
Rnk 1 / 186
2012-2022
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GDP GROWTH56.7%CURRENT US$
Rnk 45 / 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$76,399CURRENT US$
Rnk 8 / 186
2012-2022
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GDP PC GROWTH47.5%CURRENT US$
Rnk 39 / 186

About

Norway-United States Trade: In 2022, Norway exported $5.08B to United States. The main products that Norway exported to United States were Refined Petroleum ($906M), Fish Fillets ($852M), and Raw Nickel ($331M). Over the past 5 years the exports of Norway to United States have increased at an annualized rate of 12.5%, from $2.82B in 2017 to $5.08B in 2022.

In 2010, Norway exported services to United States worth $5.51B, with Services not allocated ($2.75B), Other business services ($1.17B), and Transportation ($770M) being the largest in terms of value.

United States-Norway Trade: In 2022, United States exported $4.63B to Norway. The main products that United States exported to Norway were Planes, Helicopters, and/or Spacecraft ($680M), Crude Petroleum ($415M), and Refined Petroleum ($387M). Over the past 5 years the exports of United States to Norway have increased at an annualized rate of 21.3%,  from $1.76B in 2017 to $4.63B in 2022.

In 2017, United States exported services to Norway worth $3.04B, with Travel ($1.1B), Transportation ($523M), and Other business services ($465M) 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, United States ranked 10 in the Economic Complexity Index (ECI 1.47), and 2 in total exports ($1.95T).

Latest Trends

May, 2024

About

Overview In May 2024, Norway exported NOK5.32B and imported NOK6.4B from United States, resulting in a negative trade balance of NOK1.08B. Between May 2023 and May 2024 the exports of Norway have decreased by NOK-492M (-8.46%) from NOK5.81B to NOK5.32B, while imports decreased by NOK-1.37B (-17.6%) from NOK7.76B to NOK6.4B.

Trade In May 2024, the top exports of Norway to United States were Fish (not marine mammals), crustaceans, molluscs... (NOK1.12B), Petroleum, petroleum products and related materials (NOK585M), Non-ferrous metals (NOK400M), Power-generating machinery and equipment (NOK270M), and Chemical materials and products, n.e.s. (NOK173M). In May 2024 the top imports of Norway from United States were Chemical materials and products, n.e.s. (NOK614M), Organic chemicals (NOK464M), Electrical machinery, apparatus and appliances, n.e.s.,... (NOK393M), Professional, scientific and controlling instruments and... (NOK332M), and Power-generating machinery and equipment (NOK318M).

Growth In May 2024, the decrease in Norway's year-by-year exports to United States was explained primarily by an decrease in product exports in Gas, natural and manufactured (NOK-97.5M or -100%), Other transport equipment (NOK-63.2M or -40.5%), and Chemical materials and products, n.e.s. (NOK-45.7M or -21%). In May 2024, the decrease in Norway's year-by-year imports  from United States was explained primarily by an decrease in product imports  in Petroleum, petroleum products and related materials (NOK-310M or -72%), Gas, natural and manufactured (NOK-223M or -99.7%), and Medicinal and pharmaceutical products (NOK-170M or -40.7%).

Latest Trade

Flow
Time Scale
Value
EXPORT GROWTH (May 2023 - May 2024)NOK-492M(-8.46%)
IMPORT GROWTH (May 2023 - May 2024)NOK-1.37B(-17.6%)

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 United States and Norway trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore United States and Norway Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Norway exported $5.08B to United States. The main products exported from Norway to United States were Refined Petroleum ($906M), Fish Fillets ($852M), and Raw Nickel ($331M). During the last 5 years the exports of Norway to United States have increased at an annualized rate of 12.5%, from $2.82B in 2017 to $5.08B in 2022.

In 2017, United States exported $4.63B to Norway. The main products exported from United States to Norway were Planes, Helicopters, and/or Spacecraft ($680M), Crude Petroleum ($415M), and Refined Petroleum ($387M). During the last 22 years the exports of United States to Norway have increased at an annualized rate of 21.3%, from $1.76B in 1995 to $4.63B in 2017.

Exports from Norway (Flag) to United States (Flag) (2022)

Exports from United States (Flag) to Norway (Flag) (2022)

Market Competitiveness

Color
Norway
Top DestinationGermany$78.1B
United States
Top DestinationCanada$308B

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

In 2022, countries that imported more from Norway than United States included Sweden ($17.7B), Germany ($78.1B), and Finland ($6.36B).

In 2022, countries that imported more from United States than Norway included Canada ($308B), Mexico ($294B), and China ($151B).

Difference in imports from United States (Flag) and Norway (Flag) (2022)

Comparative Advantage Norway - United States

Flow
Scale

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

During 2022, Norway had a large net trade with United States in the exports of Animal Products ($1.24B), Mineral Products ($1.01B), and Metals ($860M).

During 2017, United States had a large net trade with Norway in the exports of Mineral Products ($1.1B), Transportation ($1.04B), and Chemical Products ($1.04B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Norway United States+$458MCrude Petroleum
Top Product Potential United States Norway+$227MRefined Petroleum

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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Economic Complexity

Competitive Landscape

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

Product Space of Norway (Flag) and United States (Flag) (2022)

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