Overview In July 2021 Norway exported NOK107B and imported NOK65.2B, resulting in a positive trade balance of NOK42.2B. Between July 2020 and July 2021 the exports of Norway have increased by NOK46.1B (75.2%) from NOK61.3B to NOK107B, while imports increased by NOK4.76B (7.87%) from NOK60.5B to NOK65.2B.
Trade In July 2021, the top exports of Norway were Photographic and optical goods (NOK23.2B), Gas , natural and manufactured (NOK18.5B), Coal, coke and briquettes (NOK9.94B), Furniture and parts thereof (NOK8.22B), and Textile yarn, fabrics, made-up articles (NOK7.14B). In July 2021 the top imports of Norway were Hides, skins and furskins, raw (NOK8.24B), Gas , natural and manufactured (NOK7.21B), Furniture and parts thereof (NOK7.09B), Photographic and optical goods (NOK3.72B), and Pulp and waste paper (NOK3.3B).
Destinations In July 2021, Norway exported mostly to Colombia (NOK13.9B), Philippines (NOK11.7B), Pitcairn Islands (NOK7.08B), Burundi (NOK5.1B), and Cuba (NOK4.74B), and imported mostly from Timor-Leste (NOK2.58B), Fiji (NOK2.15B), Benin (NOK1.81B), Dominican Republic (NOK1.59B), and South Africa (NOK1.55B).
Growth In July 2021, the increase in Norway's year-by-year exports was explained primarily by an increase in exports to Colombia (NOK10B or 261%), Philippines (NOK5.6B or 92.2%), and Pitcairn Islands (NOK5.52B or 354%), and product exports increase in N/A. In July 2021, the increase in Norway's year-by-year imports was explained primarily by an increase in imports from Benin (NOK770M or 74.2%), Kenya (NOK751M or 278%), and Iceland (NOK624M or 347%), and product imports increase in Metal working machinery (NOK1.97B or 172%), Furniture and parts thereof (NOK1.33B or 23.1%), and Textile yarn, fabrics, made-up articles (NOK609M or 29.5%).