NEW: World Trade TARIFFS Simulator!
NEW: 2023 Data and Complexity Rankings
Sign In
Pricing

2023
Flag → Flag
Exports $694MRnk 24 / 205
2023
Flag → Flag
Top Product $104MCrude Petroleum
2023
Flag → Flag
Exports $2.66BRnk 16 / 215
2023
Flag → Flag
Top Product $1.7BNickel Mattes
2023
Flag
Economic Complexity (ECI) ECI 0.47Rnk 44 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.9Rnk 30 / 132
2023
Flag  
GDP$485BCURRENT US$
Rnk 31 / 195
2013-2023
Flag
GDP GROWTH-7.74%CURRENT US$
Rnk 180 / 195
2023
Flag
 GDP$2.14TCURRENT US$
Rnk 10 / 195
2013-2023
Flag
GDP GROWTH16%CURRENT US$
Rnk 150 / 195
2023
Flag
GDP PC $87,925CURRENT US$
Rnk 7 / 195
2013-2023
Flag
GDP PC GROWTH-15.1%CURRENT US$
Rnk 171 / 195
2023
Flag
GDP PC$53,431CURRENT US$
Rnk 22 / 196
2013-2023
Flag
GDP PC GROWTH1.51%CURRENT US$
Rnk 152 / 195

About

Norway-Canada Trade: In 2023, Norway exported $694M to Canada. The main products that Norway exported to Canada were Crude Petroleum ($104M), Fish Fillets ($59.1M), and Passenger and Cargo Ships ($48.2M). Over the past 5 years the exports of Norway to Canada have decreased at an annualized rate of 11.2%, from $1.25B in 2018 to $694M in 2023.

In 2010, Norway exported services to Canada worth $1.17B, with Services not allocated ($584M), Other business services ($387M), and Transportation ($146M) being the largest in terms of value.

Canada-Norway Trade: In 2023, Canada exported $2.66B to Norway. The main products that Canada exported to Norway were Nickel Mattes ($1.7B), Precious Metal Scraps ($370M), and Cobalt ($78.2M). Over the past 5 years the exports of Canada to Norway have increased at an annualized rate of 3.81%,  from $2.2B in 2018 to $2.66B in 2023.

In 2020, Canada exported services to Norway worth $118M, with Transportation ($68.6M), Financial services ($26.1M), and Travel ($9.69M) being the largest in terms of value.

Comparison: In 2023,  Norway ranked 44 in the Economic Complexity Index (ECI 0.47), and 33 in total exports ($187B). That same year, Canada ranked 30 in the Economic Complexity Index (ECI 0.9), and 10 in total exports ($574B).

Latest Trends

December, 2024

About

Overview In December 2024, Norway exported NOK1.64B and imported NOK1.36B from Canada, resulting in a positive trade balance of NOK277M. Between December 2023 and December 2024 the exports of Norway have increased by NOK757M (85.8%) from NOK882M to NOK1.64B, while imports decreased by NOK-527M (-27.9%) from NOK1.89B to NOK1.36B.

Trade In December 2024, the top exports of Norway to Canada were Fish (not marine mammals), crustaceans, molluscs... (NOK104M), Professional, scientific and controlling instruments and... (NOK32.8M), Machinery specialized for particular industries (NOK29.6M), Iron and steel (NOK21.1M), and Plastics in non-primary forms (NOK18.1M). In December 2024 the top imports of Norway from Canada were Metalliferous ores and metal scrap (NOK1B), Medicinal and pharmaceutical products (NOK96.6M), Telecommunications and sound-recording and reproducing apparatus... (NOK95.3M), Other transport equipment (NOK36.2M), and Professional, scientific and controlling instruments and... (NOK33.1M).

Growth In December 2024, the increase in Norway's year-by-year exports to Canada was explained primarily by an increase in product exports in Machinery specialized for particular industries (NOK20.8M or 236%), Iron and steel (NOK20.7M or 5.77k%), and Professional, scientific and controlling instruments and... (NOK20.5M or 166%). In December 2024, the decrease in Norway's year-by-year imports  from Canada was explained primarily by an decrease in product imports  in Road vehicles (including air-cushion vehicles) (NOK-4.26M or -33.1%), Power-generating machinery and equipment (NOK-3.9M or -16.5%), and General industrial machinery and equipment, n.e.s.,... (NOK-2.77M or -13.4%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (December 2023 - December 2024)NOK757M(85.8%)
IMPORT GROWTH (December 2023 - December 2024)NOK-527M(-27.9%)

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 Canada and Norway trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Canada and Norway Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Norway exported $694M to Canada. The main products exported from Norway to Canada were Crude Petroleum ($104M), Fish Fillets ($59.1M), and Passenger and Cargo Ships ($48.2M). During the last 5 years the exports of Norway to Canada have decreased at an annualized rate of 11.2%, from $1.25B in 2018 to $694M in 2023.

In 2018, Canada exported $2.66B to Norway. The main products exported from Canada to Norway were Nickel Mattes ($1.7B), Precious Metal Scraps ($370M), and Cobalt ($78.2M). During the last 5 years the exports of Canada to Norway have increased at an annualized rate of 3.81%, from $2.2B in 2023 to $2.66B in 2018.

Exports from Norway (Flag) to Canada (Flag) (2023)

Exports from Canada (Flag) to Norway (Flag) (2023)

Market Competitiveness

Color
Norway
Top DestinationGermany$33.8B
Canada
Top DestinationUnited States$410B

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

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

In 2023, countries that imported more from Canada than Norway included United States ($410B), China ($31.1B), and Japan ($13.4B).

Difference in imports from Canada (Flag) and Norway (Flag) (2023)

Comparative Advantage Norway - Canada

Flow
Scale

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

During 2023, Norway had a large net trade with Canada in the exports of Mineral Products ($146M), Animal Products ($136M), and Machines ($105M).

During 2018, Canada had a large net trade with Norway in the exports of Metals ($1.81B), Precious Metals ($371M), and Chemical Products ($136M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Norway Canada+$178MCrude Petroleum
Top Product Potential Canada Norway+$27.2MCars

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Bilateral Service Trade

In 2010, Norway exported services to Canada worth $1.17B, with Services not allocated ($584M), Other business services ($387M), and Transportation ($146M) being the largest in terms of value.

In 2020, Canada exported services to Norway worth $118M, with Transportation ($68.6M), Financial services ($26.1M), and Travel ($9.69M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Norway (Flag) to Canada (Flag) (2010)

Services Exports from Canada (Flag) to Norway (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Norway (Flag) and Canada (Flag) (2023)

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms