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2022
Flag → Flag
Exports $1.07BRnk 22 / 209
2022
Flag → Flag
Top Product $486MCrude Petroleum
2022
Flag → Flag
Exports $3.19BRnk 13 / 215
2022
Flag → Flag
Top Product $1.99BNickel Mattes
2022
Flag
Economic Complexity (ECI) ECI 0.54Rnk 43 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.92Rnk 31 / 133
2022
Flag  
GDP$579BCURRENT US$
Rnk 24 / 186
2012-2022
Flag
GDP GROWTH13%CURRENT US$
Rnk 141 / 186
2022
Flag
 GDP$2.14TCURRENT US$
Rnk 9 / 186
2012-2022
Flag
GDP GROWTH17%CURRENT US$
Rnk 129 / 186
2022
Flag
GDP PC $106,149CURRENT US$
Rnk 3 / 186
2012-2022
Flag
GDP PC GROWTH3.89%CURRENT US$
Rnk 131 / 186
2022
Flag
GDP PC$54,966CURRENT US$
Rnk 14 / 186
2012-2022
Flag
GDP PC GROWTH4.36%CURRENT US$
Rnk 130 / 186

About

Norway-Canada Trade: In 2022, Norway exported $1.07B to Canada. The main products that Norway exported to Canada were Crude Petroleum ($486M), Ferroalloys ($91.4M), and Fish Fillets ($84.3M). Over the past 5 years the exports of Norway to Canada have decreased at an annualized rate of 6.04%, from $1.46B in 2017 to $1.07B in 2022.

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 2022, Canada exported $3.19B to Norway. The main products that Canada exported to Norway were Nickel Mattes ($1.99B), Precious Metal Scraps ($527M), and Cobalt ($163M). Over the past 5 years the exports of Canada to Norway have increased at an annualized rate of 14.1%,  from $1.65B in 2017 to $3.19B in 2022.

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 2022,  Norway ranked 43 in the Economic Complexity Index (ECI 0.54), and 28 in total exports ($285B). That same year, Canada ranked 31 in the Economic Complexity Index (ECI 0.92), and 9 in total exports ($587B).

Latest Trends

October, 2024

About

Overview In October 2024, Norway exported NOK930M and imported NOK2.22B from Canada, resulting in a negative trade balance of NOK1.29B. Between October 2023 and October 2024 the exports of Norway have increased by NOK324M (53.3%) from NOK606M to NOK930M, while imports increased by NOK975M (78.5%) from NOK1.24B to NOK2.22B.

Trade In October 2024, the top exports of Norway to Canada were Fish (not marine mammals), crustaceans, molluscs... (NOK97.7M), Chemical materials and products, n.e.s. (NOK20.8M), Office machines and automatic data-processing machines (NOK12.9M), Professional, scientific and controlling instruments and... (NOK12.3M), and Plastics in non-primary forms (NOK12.3M). In October 2024 the top imports of Norway from Canada were Medicinal and pharmaceutical products (NOK32.4M), Power-generating machinery and equipment (NOK23.7M), Professional, scientific and controlling instruments and... (NOK23.5M), Other transport equipment (NOK23.2M), and General industrial machinery and equipment, n.e.s.,... (NOK20.7M).

Growth In October 2024, the increase in Norway's year-by-year exports to Canada was explained primarily by an increase in product exports in Chemical materials and products, n.e.s. (NOK15.7M or 307%), Plastics in non-primary forms (NOK9.02M or 273%), and Animal or vegetable fats and oils,... (NOK6.3M or 846%). In October 2024, the increase in Norway's year-by-year imports  from Canada was explained primarily by an increase in product imports  in General industrial machinery and equipment, n.e.s.,... (NOK12.7M or 157%), Other transport equipment (NOK12.2M or 111%), and Inorganic chemicals (NOK3.9M or 3.83k%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (October 2023 - October 2024)NOK324M(53.3%)
IMPORT GROWTH (October 2023 - October 2024)NOK975M(78.5%)

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 2022, Norway exported $1.07B to Canada. The main products exported from Norway to Canada were Crude Petroleum ($486M), Ferroalloys ($91.4M), and Fish Fillets ($84.3M). During the last 5 years the exports of Norway to Canada have decreased at an annualized rate of 6.04%, from $1.46B in 2017 to $1.07B in 2022.

In 2017, Canada exported $3.19B to Norway. The main products exported from Canada to Norway were Nickel Mattes ($1.99B), Precious Metal Scraps ($527M), and Cobalt ($163M). During the last 5 years the exports of Canada to Norway have increased at an annualized rate of 14.1%, from $1.65B in 2022 to $3.19B in 2017.

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

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

Market Competitiveness

Color
Norway
Top DestinationGermany$78.1B
Canada
Top DestinationUnited States$438B

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

In 2022, countries that imported more from Canada than Norway included United States ($438B), China ($25.4B), and Japan ($14.3B).

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

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 2022, Norway had a large net trade with Canada in the exports of Mineral Products ($519M), Animal Products ($151M), and Metals ($109M).

During 2017, Canada had a large net trade with Norway in the exports of Metals ($2.28B), Precious Metals ($528M), and Chemical Products ($98.7M).

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.

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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) (2022)

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