Norway (NOR) and Bermuda (BMU) Trade | The Observatory of Economic Complexity

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Norway-Bermuda Trade: In 2022, Norway exported $310M to Bermuda. The main products that Norway exported to Bermuda were Passenger and Cargo Ships ($306M), Centrifuges ($416k), and Prints ($403k). Over the past 5 years the exports of Norway to Bermuda have increased at an annualized rate of 196%, from $1.37M in 2017 to $310M in 2022.

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

Bermuda-Norway Trade: In 2022, Bermuda exported $55.9k to Norway. The main products that Bermuda exported to Norway were Machinery Having Individual Functions ($53.6k), Brochures ($1.34k), and Engine Parts ($421). Over the past 5 years the exports of Bermuda to Norway have decreased at an annualized rate of 21.1%, from $473k in 2017 to $55.9k in 2022.

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

Comparison In 2022, Norway ranked 43 in the Economic Complexity Index (ECI 0.54), and 28 in total exports ($285B). That same year, Bermuda ranked 199 in total exports ($68.1M), and does not have data regarding Economic Complexity Index.

Latest Trends

October, 2024

About

Overview In October 2024, Norway exported NOK1.89M and imported NOK0 from Bermuda, resulting in a positive trade balance of NOK1.89M. Between October 2023 and October 2024 the exports of Norway have decreased by NOK-2.27M (-54.5%) from NOK4.16M to NOK1.89M, while imports decreased by NOK-3k (-100%) from NOK3k to NOK0.

Trade In October 2024, the top exports of Norway to Bermuda were Professional, scientific and controlling instruments and... (NOK941k), General industrial machinery and equipment, n.e.s.,... (NOK559k), Non-metallic mineral manufactures, n.e.s. (NOK207k), Miscellaneous manufactured articles, n.e.s. (NOK207k), and Office machines and automatic data-processing machines (NOK99k). In October 2024 the top imports of Norway from Bermuda were Professional, scientific and controlling instruments and... (NOK29k), Live animals other than animals of... (NOK0), Meat and meat preparations (NOK0), Dairy products and birds' eggs (NOK0), and Fish (not marine mammals), crustaceans, molluscs... (NOK0).

Growth In October 2024, the decrease in Norway's year-by-year exports to Bermuda was explained primarily by an decrease in product exports in General industrial machinery and equipment, n.e.s.,... (NOK-564k or -50.2%), Iron and steel (NOK-257k or -90.5%), and Electrical machinery, apparatus and appliances, n.e.s.,... (NOK-240k or -80.8%). In October 2024, the decrease in Norway's year-by-year imports from Bermuda was explained primarily by an decrease in product imports in .

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (October 2023 - October 2024)NOK-2.27M(-54.5%)

IMPORT GROWTH (October 2023 - October 2024)NOK-3k(-100%)

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

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

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Norway exported $310M to Bermuda. The main products exported from Norway to Bermuda were Passenger and Cargo Ships ($306M), Centrifuges ($416k), and Prints ($403k). During the last 5 years the exports of Norway to Bermuda have increased at an annualized rate of 196%, from $1.37M in 2017 to $310M in 2022.

In 2017, Bermuda exported $55.9k to Norway. The main products exported from Bermuda to Norway were Machinery Having Individual Functions ($53.6k), Brochures ($1.34k), and Engine Parts ($421). During the last 5 years the exports of Bermuda to Norway have decreased at an annualized rate of 21.1%, from $473k in 2022 to $55.9k in 2017.

Exports from Norway () to Bermuda () (2022)

Exports from Bermuda () to Norway () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Norway
Top DestinationGermany$78.1B

Bermuda
Top DestinationZambia$17.5M

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

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

In 2022, countries that imported more from Bermuda than Norway included Zambia ($17.5M) and Zimbabwe ($4.06M).

Difference in imports from Bermuda () and Norway () (2022)

Comparative Advantage Norway - Bermuda

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Norway had a large net trade with Bermuda in the exports of Transportation ($306M), Machines ($2.63M), and Instruments ($769k).

During 2017, Bermuda had a large net trade with Norway in the exports of Machines ($54.6k) and Paper Goods ($1.34k).

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Norway and Bermuda. This means that a dot/product with the flag of Norway indicates it has a comparative advantage over Bermuda. Similarly, a dot/product with the flag of Bermuda indicates it has a comparative advantage over Norway.

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Latest Trends

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Latest Trade

Historical Data

Bilateral Trade by Products

Exports from Norway () to Bermuda () (2022)

Exports from Bermuda () to Norway () (2022)

Market Competitiveness

Difference in imports from Bermuda () and Norway () (2022)

Comparative Advantage Norway - Bermuda

Economic Complexity

Competitive Landscape

Product Space of Norway () and Bermuda () (2022)

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