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

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Norway-Bermuda Trade: In 2023, Norway exported $4.39M to Bermuda. The main products that Norway exported to Bermuda were Excavation Machinery ($2.09M), Air Pumps ($266k), and Other Measuring Instruments ($212k). Over the past 5 years the exports of Norway to Bermuda have increased at an annualized rate of 10.8%, from $2.63M in 2018 to $4.39M in 2023.

In 2023, Norway did not export any services to Bermuda.

Bermuda-Norway Trade: In 2023, Bermuda exported $6.62k to Norway. The main products that Bermuda exported to Norway were Non-Knit Men's Suits ($2.9k), Gas and Liquid Flow Measuring Instruments ($2.77k), and Other Heating Machinery ($653). Over the past 5 years the exports of Bermuda to Norway have decreased at an annualized rate of 36.8%, from $65.6k in 2018 to $6.62k in 2023.

In 2023, Bermuda did not export any services to Norway.

Comparison In 2023, Norway ranked 44 in the Economic Complexity Index (ECI 0.47), and 33 in total exports ($187B). That same year, Bermuda ranked 179 in total exports ($254M), and does not have data regarding Economic Complexity Index.

Latest Trends

December, 2024

About

Overview In December 2024, Norway exported NOK858k and imported NOK101k from Bermuda, resulting in a positive trade balance of NOK757k. Between December 2023 and December 2024 the exports of Norway have decreased by NOK-6.81M (-88.8%) from NOK7.66M to NOK858k, while imports increased by NOK101k (N/A%) from NOK0 to NOK101k.

Trade In December 2024, the top exports of Norway to Bermuda were Machinery specialized for particular industries (NOK1.43M), Electrical machinery, apparatus and appliances, n.e.s.,... (NOK441k), Telecommunications and sound-recording and reproducing apparatus... (NOK329k), Other transport equipment (NOK263k), and Power-generating machinery and equipment (NOK195k). In December 2024 the top imports of Norway from Bermuda were Live animals other than animals of... (NOK0), Meat and meat preparations (NOK0), Dairy products and birds' eggs (NOK0), Fish (not marine mammals), crustaceans, molluscs... (NOK0), and Cereals and cereal preparations (NOK0).

Growth In December 2024, the decrease in Norway's year-by-year exports to Bermuda was explained primarily by an decrease in product exports in Professional, scientific and controlling instruments and... (NOK-874k or -92.9%), General industrial machinery and equipment, n.e.s.,... (NOK-425k or -76%), and Non-metallic mineral manufactures, n.e.s. (NOK-207k or -100%). In December 2024, the increase in Norway's year-by-year imports from Bermuda was explained primarily by an increase in product imports in .

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (December 2023 - December 2024)NOK-6.81M(-88.8%)

IMPORT GROWTH (December 2023 - December 2024)NOK101k(N/A%)

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 2023, Norway exported $4.39M to Bermuda. The main products exported from Norway to Bermuda were Excavation Machinery ($2.09M), Air Pumps ($266k), and Other Measuring Instruments ($212k). During the last 5 years the exports of Norway to Bermuda have increased at an annualized rate of 10.8%, from $2.63M in 2018 to $4.39M in 2023.

In 2018, Bermuda exported $6.62k to Norway. The main products exported from Bermuda to Norway were Non-Knit Men's Suits ($2.9k), Gas and Liquid Flow Measuring Instruments ($2.77k), and Other Heating Machinery ($653). During the last 5 years the exports of Bermuda to Norway have decreased at an annualized rate of 36.8%, from $65.6k in 2023 to $6.62k in 2018.

Exports from Norway () to Bermuda () (2023)

Exports from Bermuda () to Norway () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Norway
Top DestinationGermany$33.8B

Bermuda
Top DestinationGermany$101M

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 2023, countries that imported more from Norway than Bermuda included Germany ($33.8B), United Kingdom ($32.6B), and Sweden ($15.9B).

In 2023, countries that imported more from Bermuda than Norway included Montserrat ($12.7k).

Difference in imports from Bermuda () and Norway () (2023)

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 2023, Norway had a large net trade with Bermuda in the exports of Machines ($3.47M), Instruments ($416k), and Plastics and Rubbers ($190k).

During 2018, Bermuda had a large net trade with Norway in the exports of Textiles ($2.9k), Instruments ($2.77k), and Machines ($938).

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 () (2023)

Exports from Bermuda () to Norway () (2023)

Market Competitiveness

Difference in imports from Bermuda () and Norway () (2023)

Comparative Advantage Norway - Bermuda

Economic Complexity

Competitive Landscape

Product Space of Norway () and Bermuda () (2023)

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