2022
Exports
$2.72BWorld Rnk 35 / 223
Flag Rnk 5 / 96
2022
PRODUCT COMPLEXITY IN Iron & steel
1.68Rnk 28 / 1025
2022
Imports
$1.17BWorld Rnk 64 / 225
Flag Rnk 21 / 96
2022
ECONOMIC COMPLEXITY of Norway
0.54Rnk 43 / 133

About

Exports In 2022, Norway exported $2.72B in Iron & steel, making it the 35th largest exporter of Iron & steel in the world. At the same year, Iron & steel was the 5th most exported product in Norway. The main destination of Iron & steel exports from Norway are: Sweden ($357M), Germany ($262M), Netherlands ($252M), Finland ($238M), and United States ($218M).

The fastest growing export markets for Iron & steel of Norway between 2021 and 2022 were Turkey ($104M), Spain ($97.8M), and Finland ($69.6M).

Imports In 2022, Norway imported $1.17B in Iron & steel, becoming the 64th largest importer of Iron & steel in the world. At the same year, Iron & steel was the 21st most imported product in Norway. Norway imports Iron & steel primarily from: Sweden ($339M), Germany ($112M), Finland ($102M), Denmark ($97.5M), and Luxembourg ($43.4M).

The fastest growing import markets in Iron & steel for Norway between 2021 and 2022 were Sweden ($49.3M), South Korea ($25.5M), and Poland ($17.5M).

COMPANIES In 2023, leading companies such as Hyosung (1), ABB Motors and Mechanical (1), and Prime Line Coffee (1) were at the forefront of shipping Iron & steel from Norway to the United States.

Latest Trends

Sep 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Iron & steel. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$2.72B
IMPORTS (2022)$1.17B
NET TRADE (2022)$1.55B

In 2022, Norway exported $2.72B in Iron & steel. The main destinations of Norway exports on Iron & steel were Sweden ($357M), Germany ($262M), Netherlands ($252M), Finland ($238M), and United States ($218M).

In 2022, Norway imported $1.17B in Iron & steel, mainly from Sweden ($339M), Germany ($112M), Finland ($102M), Denmark ($97.5M), and Luxembourg ($43.4M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Iron & steel EXPORT MARKETS FOR Norway WERE (2021 - 2022):
Turkey$104M (111%)
Spain$97.8M (153%)
Finland$69.6M (41.4%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron & steel BY Norway WERE (2021 - 2022):
Netherlands-$57.1M (-18.5%)
Russia-$15.4M (-99.5%)
Poland-$14.2M (-13.4%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Norway's main exporting competitors in Iron & steel were:
China $69.8B
Germany $36.9B
Japan $35.7B
In 2022, Norway's main importing competitors in Iron & steel were:

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Trade Value of Iron & steel by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $38.5M
TOP IMPORT POTENTIALGermany+ $35.1M

Iron & steel’s highest export potential is India. With an export gap of $38.5M.   Iron & steel’s highest import potential is Germany with an import gap of $35.1M.

See methodology.

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