Flag Norway

Econ Complexity (2018): 0.85, Rank 34 of 137

Product Exports (2018): $127B, Rank 33 of 222

Exports Per Capita (2018): $24k, Rank 114 of 219

Product Imports (2018): $89.5B, Rank 40 of 221

Imports Per Capita (2018): $16.9k, Rank 123 of 219

Service Exports (2011): $81.9B, Rank 139 of 139

Service Imports (2011): $90.6B, Rank 139 of 139

GDP (2018): $434B, CURRENT US$
Rank 27 of 196

GDP growth (2008 - 2018): -6.08%, CURRENT US$
Rank 182 of 196

GDP PC (2018): $81,697, CURRENT US$
Rank 5 of 196

GDP PC GROWTH (2008 - 2018): -15.7%, CURRENT US$
Rank 177 of 196

Overview: This page contains the latest international trade data for Norway, including service trade data, and tariffs. In 2018 Norway was the number 27 economy in the world in terms of GDP (current US$), the number 33 in total exports, the number 40 in total imports, and the number 34 most complex economy according to the Economic Complexity Index (ECI). In 2018, Norway exported $127B and imported $89.5B, resulting in a positive trade balance of $37.8B. In 2018, Norway's exports per capita were $24k and its imports per capita were $16.9k.

Trade: The top exports of Norway are Petroleum Gas ($37.2B), Crude Petroleum ($33B), Refined Petroleum ($6.97B), Non-fillet Fresh Fish ($6.79B), and Raw Aluminium ($3.29B). The top imports of Norway are Cars ($6.24B), Refined Petroleum ($2.52B), Special Purpose Ships ($1.95B), Broadcasting Equipment ($1.81B), and Passenger and Cargo Ships ($1.77B).

Destinations: Norway exports mostly to United Kingdom ($25.8B), Germany ($20.2B), Netherlands ($12.4B), Sweden ($9.8B), and France ($8.73B), and imports mostly from Sweden ($15.2B), Germany ($10.8B), China ($6.17B), United States ($5.8B), and Denmark ($5.74B).

Location: Norway borders Finland, Russia, and Sweden by land and Denmark, Iceland, United Kingdom, and Greenland by sea.

Yearly Exports

#permalink to section
Value
Depth

Top Export (2018): Petroleum Gas, $37.2B

Top Destination (2018): United Kingdom, $25.8B

In 2018 Norway exported a total of $127B, making it the number 33 exporter in the world. During the last five reported years the exports of Norway have changed by -$27B from $154B in 2013 to $127B in 2018.

The most recent exports are led by Petroleum Gas ($37.2B), Crude Petroleum ($33B), Refined Petroleum ($6.97B), Non-fillet Fresh Fish ($6.79B), and Raw Aluminium ($3.29B). The most common destination for the exports of Norway are United Kingdom ($25.8B), Germany ($20.2B), Netherlands ($12.4B), Sweden ($9.8B), and France ($8.73B).

Explore Visualizations

Yearly Imports

#permalink to section
Value
Depth

Top Import (2018): Cars, $6.24B

Top Origin (2018): Sweden, $15.2B

In 2018 Norway imported $89.5B, making it the number 40 trade destination in the world. During the last five reported years the imports of Norway changed by -$2.86B from $92.4B in 2013 to $89.5B in 2018.

The most recent imports of Norway are led by Cars ($6.24B), Refined Petroleum ($2.52B), Special Purpose Ships ($1.95B), Broadcasting Equipment ($1.81B), and Passenger and Cargo Ships ($1.77B). The most common import partners for Norway are Sweden ($15.2B), Germany ($10.8B), China ($6.17B), United States ($5.8B), and Denmark ($5.74B).

Explore Visualizations

Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Norway Exports Services (2011): $81.9B

Norway Imports Services (2011): $90.6B

In 2011, Norway exported $81.9B worth of services. The top services exported by Norway in 2011 were Services not allocated ($39.3B), Sea transport ($11.8B), Miscellaneous business, professional, and technical services ($11.2B), Personal travel ($4.87B), and Other transport ($3.34B).

The top services imported by Norway in 2011 were Services not allocated ($43.8B), Personal travel ($11.5B), Miscellaneous business, professional, and technical services ($11B), Sea transport ($4.66B), and Business travel ($3.44B).

Trade Forecasts

#permalink to section

This section shows forecasts for total product exports and imports for Norway. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

Explore Forecasts

Tariffs by Product

#permalink to section

The top product import tariffs by their MFN Ad Valorem value for Norway are Poultry: live, ducks, weighing not more than 185g (555%) and Poultry: live, geese, weighing not more than 185g (555%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

Explore Tariff Data

*The tariffs applied to imports for Norway are:
136: Most Favoured Nation duty rate treatement
143: Norway Generalized System of Preference
144: Norway Generalized System of Preference for lower income GSP countries
145: Norway GSP for Least Developed Countries
160: Preferential tariff for Albania
172: Preferential tariff for Bosnia and Herzegovina
178: Preferential tariff for Canada
182: Preferential tariff for Chile
189: Preferential tariff for Colombia
192: Preferential tariff for Costa Rica
206: Preferential tariff for Egypt
216: Preferential tariff for European Economic Area
217: Preferential tariff for European Free Trade Association (EFTA) countries
218: Preferential tariff for European Union countries
222: Preferential tariff for Faroe Islands
224: Preferential tariff for for occupied Palestinian territory
226: Preferential tariff for Georgia
228: Preferential tariff for Greeland
231: Preferential tariff for Gulf Cooperation Council (GCC)
235: Preferential tariff for Hong Kong
244: Preferential tariff for Israel
247: Preferential tariff for Jordan
249: Preferential tariff for Korea, Republic of
255: Preferential tariff for Lebanon
262: Preferential tariff for Macedonia
270: Preferential tariff for Mexico
272: Preferential tariff for Montenegro
273: Preferential tariff for Morocco
285: Preferential tariff for Panama
289: Preferential tariff for Peru
299: Preferential tariff for Singapore
303: Preferential tariff for Southern African Customs Union (SACU) countries
321: Preferential tariff for Tunisia
322: Preferential tariff for Turkey
325: Preferential tariff for Ukraine

Economic Complexity

#permalink to section

Economic Complexity Ranking

#permalink to section
Scale

During the last 20 years Norway's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨15th to the 34th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

Explore Rankings

Most Specialized Products by RCA Index

#permalink to section

Norway has a high level of specialization in Non-fillet Fresh Fish (45.6), Fishing Ships (31.5), Processed Fish (23.5), Carboxyamide Compounds (18.1), and Petroleum Gas (18). Specialization is measured using RCA, an index that takes the ratio between Norway observed and expected exports in each product.

Most Complex Products by PCI

#permalink to section

The highest complexity exports of Norway according to the product complexity index (PCI) are Glazed transparent, translucent papers (1.66), Carboxyimide-function and imine-function compounds (1.54), Equipment to measure fluid flow, level, pressure, etc (1.4), Pumps for liquids (1.38), and Artificial, graphite and preparations (1.18). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

#permalink to section

The top export opportunities for Norway according to the relatedness index, are Uranium and Thorium Ore (0.2), Iron Ore (0.17), Asbestos (0.15), Coal Briquettes (0.15), and Manganese Ore (0.15). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Norway is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

#permalink to section
Filter
Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.