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2022
Flag → Flag
Exports $736MRnk 74 / 217
2022
Flag → Flag
Top Product $67.4MCarboxyamide Compounds
2022
Flag → Flag
Exports $1.03BRnk 23 / 209
2022
Flag → Flag
Top Product $388MPetroleum Gas
2022
Flag
Economic Complexity (ECI) ECI 0.64Rnk 40 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.54Rnk 43 / 133
2022
Flag  
GDP$3.39TCURRENT US$
Rnk 5 / 186
2012-2022
Flag
GDP GROWTH85.2%CURRENT US$
Rnk 24 / 186
2022
Flag
 GDP$579BCURRENT US$
Rnk 24 / 186
2012-2022
Flag
GDP GROWTH13%CURRENT US$
Rnk 141 / 186
2022
Flag
GDP PC $2,389CURRENT US$
Rnk 140 / 186
2012-2022
Flag
GDP PC GROWTH66.6%CURRENT US$
Rnk 20 / 186
2022
Flag
GDP PC$106,149CURRENT US$
Rnk 3 / 186
2012-2022
Flag
GDP PC GROWTH3.89%CURRENT US$
Rnk 131 / 186

About

India-Norway Trade: In 2022, India exported $736M to Norway. The main products that India exported to Norway were Carboxyamide Compounds ($67.4M), Refined Petroleum ($59M), and Raw Aluminium ($33.1M). Over the past 5 years the exports of India to Norway have increased at an annualized rate of 6.86%, from $528M in 2017 to $736M in 2022.

In 2022, India did not export any services to Norway.

Norway-India Trade: In 2022, Norway exported $1.03B to India. The main products that Norway exported to India were Petroleum Gas ($388M), Raw Nickel ($117M), and Crude Petroleum ($99.4M). Over the past 5 years the exports of Norway to India have increased at an annualized rate of 3.34%,  from $694M in 2017 to $1.03B in 2022.

In 2010, Norway exported services to India worth $1.07B, with Services not allocated ($538M), Other business services ($330M), and Transportation ($93.5M) being the largest in terms of value.

Comparison: In 2022,  India ranked 40 in the Economic Complexity Index (ECI 0.64), and 15 in total exports ($468B). 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, India exported $35.5M and imported $56.6M from Norway, resulting in a negative trade balance of $21.1M. Between August 2023 and August 2024 the exports of India have decreased by $-9.2M (-20.6%) from $44.7M to $35.5M, while imports decreased by $-10.6M (-15.7%) from $67.2M to $56.6M.

Growth In August 2024, the decrease in India's year-by-year exports to Norway was explained primarily by an decrease in product exports in Electric Machinery And Equipme ($-3.09M or -90%), Manmade Yarn,Fabrics,Madeups ($-1.41M or -47.1%), and Aluminium, Products Of Aluminm ($-862k or -86.1%). In August 2024, the decrease in India's year-by-year imports  from Norway was explained primarily by an decrease in product imports  in Petroleum Products ($-27M or -50.5%), Fertilezers Manufactured ($-3.16M or -66.5%), and Ship, Boat And Floating Struct ($-3.12M or -99.7%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (August 2023 - August 2024)$-9.2M(-20.6%)
IMPORT GROWTH (August 2023 - August 2024)$-10.6M(-15.7%)

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

To check Norway and India trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Norway and India Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, India exported $736M to Norway. The main products exported from India to Norway were Carboxyamide Compounds ($67.4M), Refined Petroleum ($59M), and Raw Aluminium ($33.1M). During the last 5 years the exports of India to Norway have increased at an annualized rate of 6.86%, from $528M in 2017 to $736M in 2022.

In 2017, Norway exported $1.03B to India. The main products exported from Norway to India were Petroleum Gas ($388M), Raw Nickel ($117M), and Crude Petroleum ($99.4M). During the last 5 years the exports of Norway to India have increased at an annualized rate of 3.34%, from $694M in 2022 to $1.03B in 2017.

Exports from India (Flag) to Norway (Flag) (2022)

Exports from Norway (Flag) to India (Flag) (2022)

Market Competitiveness

Color
India
Top DestinationUnited States$82.9B
Norway
Top DestinationGermany$78.1B

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

In 2022, countries that imported more from India than Norway included United States ($82.9B), United Arab Emirates ($31.6B), and Bangladesh ($13.8B).

In 2022, countries that imported more from Norway than India included Germany ($78.1B), United Kingdom ($59.1B), and France ($25.9B).

Difference in imports from Norway (Flag) and India (Flag) (2022)

Comparative Advantage India - Norway

Flow
Scale

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

During 2022, India had a large net trade with Norway in the exports of Textiles ($155M), Chemical Products ($134M), and Metals ($89.5M).

During 2017, Norway had a large net trade with India in the exports of Mineral Products ($538M), Metals ($237M), and Chemical Products ($110M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential India Norway+$164MRefined Petroleum
Top Product Potential Norway India+$609MPetroleum Gas

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 India and Norway. This means that a dot/product with the flag of India indicates it has a comparative advantage over Norway. Similarly, a dot/product with the flag of Norway indicates it has a comparative advantage over India.

Product Space of India (Flag) and Norway (Flag) (2022)

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