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Pricing

2022
Flag → Flag
Exports $4.54BRnk 23 / 224
2022
Flag → Flag
Top Product $457MElectricity
2022
Flag → Flag
Exports $59.1BRnk 2 / 209
2022
Flag → Flag
Top Product $35.5BPetroleum Gas
2022
Flag
Economic Complexity (ECI) ECI 1.42Rnk 12 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.54Rnk 43 / 133
2022
Flag  
GDP$3.07TCURRENT US$
Rnk 6 / 186
2012-2022
Flag
GDP GROWTH13.5%CURRENT US$
Rnk 139 / 186
2022
Flag
 GDP$579BCURRENT US$
Rnk 24 / 186
2012-2022
Flag
GDP GROWTH13%CURRENT US$
Rnk 141 / 186
2022
Flag
GDP PC $45,850CURRENT US$
Rnk 23 / 186
2012-2022
Flag
GDP PC GROWTH7.92%CURRENT US$
Rnk 122 / 186
2022
Flag
GDP PC$106,149CURRENT US$
Rnk 3 / 186
2012-2022
Flag
GDP PC GROWTH3.89%CURRENT US$
Rnk 131 / 186

About

United Kingdom-Norway Trade: In 2022, United Kingdom exported $4.54B to Norway. The main products that United Kingdom exported to Norway were Electricity ($457M), Refined Petroleum ($236M), and Animal Food ($216M). Over the past 5 years the exports of United Kingdom to Norway have increased at an annualized rate of 3.19%, from $3.88B in 2017 to $4.54B in 2022.

In 2019, United Kingdom exported services to Norway worth $3.51B, with Other business services ($1.48B), Travel ($737M), and Financial services ($539M) being the largest in terms of value.

Norway-United Kingdom Trade: In 2022, Norway exported $59.1B to United Kingdom. The main products that Norway exported to United Kingdom were Petroleum Gas ($35.5B), Crude Petroleum ($18.3B), and Electricity ($980M). Over the past 5 years the exports of Norway to United Kingdom have increased at an annualized rate of 21.8%,  from $22.1B in 2017 to $59.1B in 2022.

In 2009, Norway exported services to United Kingdom worth $7.2B, with Transportation ($4.13B), Other business services ($1.75B), and Computer and information services ($374M) being the largest in terms of value.

Comparison: In 2022,  United Kingdom ranked 12 in the Economic Complexity Index (ECI 1.42), and 14 in total exports ($469B). That same year, Norway ranked 43 in the Economic Complexity Index (ECI 0.54), and 28 in total exports ($285B).

Latest Trends

August, 2024

About

Overview In August 2024, United Kingdom exported £303M and imported £2.21B from Norway, resulting in a negative trade balance of £1.91B. Between August 2023 and August 2024 the exports of United Kingdom have increased by £94.5M (45.4%) from £208M to £303M, while imports increased by £187M (9.24%) from £2.03B to £2.21B.

Trade In August 2024, the top exports of United Kingdom to Norway were Refined Petroleum (£26.7M), Gas Turbines (£24.3M), Electricity (£7.95M), Animal Food (£7.93M), and Valves (£6.66M). In August 2024 the top imports of United Kingdom from Norway were Petroleum Gas (£1.85B), Crude Petroleum (£1.26B), Special Purpose Ships (£120M), Electricity (£91.5M), and Refined Petroleum (£70.2M).

Origins In August 2024 the exports of United Kingdom were mainly from Immingham (£125M), Aberdeen (£52.9M), East Midlands Airport (£22.3M), Dover Eurotunnel (£21.7M), and Southampton (£14.7M), while imports destinations were mainly Hull (£836M), Peterhead (£574M), Middlesbrough (£238M), Southampton (£115M), and Liverpool (£92.9M).

Growth In August 2024, the increase in United Kingdom's year-by-year exports to Norway was explained primarily by an increase in product exports in Refined Petroleum (£26.5M or 12.6k%), Gas Turbines (£9.01M or 59%), and Raw Sugar (£3.44M or 320%). In August 2024, the increase in United Kingdom's year-by-year imports  from Norway was explained primarily by an increase in product imports  in Crude Petroleum (£154M or 13.9%), Refined Petroleum (£29.6M or 73%), and Mixed Mineral or Chemical Fertilizers (£9.39M or 118%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)£94.5M(45.4%)
IMPORT GROWTH (August 2023 - August 2024)£187M(9.24%)
MAIN EXPORTER (August 2024)Immingham£125M

This section shows exports and imports data at subnational level for United Kingdom. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of United Kingdom over time.

To check Norway and United Kingdom trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Norway and United Kingdom Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, United Kingdom exported $4.54B to Norway. The main products exported from United Kingdom to Norway were Electricity ($457M), Refined Petroleum ($236M), and Animal Food ($216M). During the last 5 years the exports of United Kingdom to Norway have increased at an annualized rate of 3.19%, from $3.88B in 2017 to $4.54B in 2022.

In 2017, Norway exported $59.1B to United Kingdom. The main products exported from Norway to United Kingdom were Petroleum Gas ($35.5B), Crude Petroleum ($18.3B), and Electricity ($980M). During the last 5 years the exports of Norway to United Kingdom have increased at an annualized rate of 21.8%, from $22.1B in 2022 to $59.1B in 2017.

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

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

Market Competitiveness

Color
United Kingdom
Top DestinationUnited States$61.8B
Norway
Top DestinationGermany$78.1B

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

In 2022, countries that imported more from United Kingdom than Norway included United States ($61.8B), Ireland ($32.6B), and China ($35.4B).

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

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

Comparative Advantage United Kingdom - Norway

Flow
Scale

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

During 2022, United Kingdom had a large net trade with Norway in the exports of Machines ($1.06B), Mineral Products ($896M), and Transportation ($529M).

During 2017, Norway had a large net trade with United Kingdom in the exports of Mineral Products ($55.6B), Animal Products ($726M), and Metals ($693M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential United Kingdom Norway+$126MCars
Top Product Potential Norway United Kingdom+$372MRefined 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 United Kingdom and Norway. This means that a dot/product with the flag of United Kingdom indicates it has a comparative advantage over Norway. Similarly, a dot/product with the flag of Norway indicates it has a comparative advantage over United Kingdom.

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

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