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

About

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 8.19%, 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.

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.

Comparison: In 2022,  Norway ranked 43 in the Economic Complexity Index (ECI 0.54), and 28 in total exports ($285B). That same year, India ranked 40 in the Economic Complexity Index (ECI 0.64), and 15 in total exports ($468B).

Latest Trends

October, 2024

About

Overview In October 2024, Norway exported NOK341M and imported NOK859M from India, resulting in a negative trade balance of NOK518M. Between October 2023 and October 2024 the exports of Norway have decreased by NOK-113M (-24.9%) from NOK454M to NOK341M, while imports increased by NOK202M (30.7%) from NOK657M to NOK859M.

Trade In October 2024, the top exports of Norway to India were Metalliferous ores and metal scrap (NOK91.1M), Non-ferrous metals (NOK68.1M), Plastics in primary forms (NOK34.2M), Other transport equipment (NOK22.7M), and Telecommunications and sound-recording and reproducing apparatus... (NOK17.2M). In October 2024 the top imports of Norway from India were Feeding stuff for animals (not including... (NOK102M), Articles of apparel and clothing accessories (NOK91.1M), Textile yarn, fabrics, made-up articles, n.e.s.,... (NOK87.5M), Organic chemicals (NOK62.5M), and Telecommunications and sound-recording and reproducing apparatus... (NOK42.1M).

Growth In October 2024, the decrease in Norway's year-by-year exports to India was explained primarily by an decrease in product exports in Non-ferrous metals (NOK-16.4M or -19.4%), Organic chemicals (NOK-9.42M or -61%), and Chemical materials and products, n.e.s. (NOK-9.04M or -51.4%). In October 2024, the increase in Norway's year-by-year imports  from India was explained primarily by an increase in product imports  in Feeding stuff for animals (not including... (NOK38.2M or 59.4%), Road vehicles (including air-cushion vehicles) (NOK25.1M or 834%), and Articles of apparel and clothing accessories (NOK24.5M or 36.7%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (October 2023 - October 2024)NOK-113M(-24.9%)
IMPORT GROWTH (October 2023 - October 2024)NOK202M(30.7%)

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 India and Norway trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore India and Norway Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, 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 8.19%, from $694M in 2017 to $1.03B in 2022.

In 2017, 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 2022 to $736M in 2017.

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

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

Market Competitiveness

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

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

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

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

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

Comparative Advantage Norway - India

Flow
Scale

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

During 2022, Norway had a large net trade with India in the exports of Mineral Products ($538M), Metals ($237M), and Chemical Products ($110M).

During 2017, India had a large net trade with Norway in the exports of Textiles ($155M), Chemical Products ($134M), and Metals ($89.5M).

Potential Exports

Potential Exports

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

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

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

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