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2022
Flag → Flag
Exports $229MRnk 45 / 209
2022
Flag → Flag
Top Product $112MAnimal Food
2022
Flag → Flag
Exports $1.76BRnk 43 / 138
2022
Flag → Flag
Top Product $604MRefined Petroleum
2022
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Economic Complexity (ECI) ECI 0.54Rnk 43 / 133
2022
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Economic Complexity (ECI) ECI 0.43Rnk 47 / 133
2022
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GDP$579BCURRENT US$
Rnk 24 / 186
2012-2022
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GDP GROWTH13%CURRENT US$
Rnk 141 / 186
2022
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 GDP$2.24TCURRENT US$
Rnk 8 / 186
2012-2022
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GDP GROWTH1.45%CURRENT US$
Rnk 164 / 186
2022
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GDP PC $106,149CURRENT US$
Rnk 3 / 186
2012-2022
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GDP PC GROWTH3.89%CURRENT US$
Rnk 131 / 186
2022
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GDP PC$15,345CURRENT US$
Rnk 63 / 186
2012-2022
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GDP PC GROWTH-0.49%CURRENT US$
Rnk 145 / 186

About

Norway-Russia Trade: In 2022, Norway exported $229M to Russia. The main products that Norway exported to Russia were Animal Food ($112M), Live Fish ($23.6M), and Paper Containers ($8.54M). Over the past 5 years the exports of Norway to Russia have decreased at an annualized rate of 7.97%, from $347M in 2017 to $229M in 2022.

In 2010, Norway exported services to Russia worth $641M, with Services not allocated ($321M), Other business services ($150M), and Transportation ($80.2M) being the largest in terms of value.

Russia-Norway Trade: In 2022, Russia exported $1.76B to Norway. The main products that Russia exported to Norway were Refined Petroleum ($604M), Raw Aluminium ($424M), and Rapeseed Oil ($202M). Over the past 5 years the exports of Russia to Norway have increased at an annualized rate of 4.54%,  from $947M in 2017 to $1.76B in 2022.

In 2020, Russia exported services to Norway worth $117M, with Transportation ($42M), Other business services ($37.2M), and Computer and information services ($21.3M) 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, Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B).

Latest Trends

September, 2024

About

Overview In September 2024, Norway exported NOK73.1M and imported NOK174M from Russia, resulting in a negative trade balance of NOK101M. Between September 2023 and September 2024 the exports of Norway have decreased by NOK-35.3M (-32.6%) from NOK108M to NOK73.1M, while imports decreased by NOK-32.3M (-15.7%) from NOK206M to NOK174M.

Trade In September 2024, the top exports of Norway to Russia were Feeding stuff for animals (not including... (NOK82.7M), Manufactures of metals, n.e.s. (NOK10M), Textile yarn, fabrics, made-up articles, n.e.s.,... (NOK8.01M), General industrial machinery and equipment, n.e.s.,... (NOK6.06M), and Articles of apparel and clothing accessories (NOK4.55M). In September 2024 the top imports of Norway from Russia were Non-ferrous metals (NOK161M), Fish (not marine mammals), crustaceans, molluscs... (NOK63.6M), Fixed vegetable fats and oils, crude,... (NOK49.5M), Inorganic chemicals (NOK6.08M), and Crude animal and vegetable materials, n.e.s. (NOK4.09M).

Growth In September 2024, the decrease in Norway's year-by-year exports to Russia was explained primarily by an decrease in product exports in Plastics in primary forms (NOK-11.1M or -99.5%), General industrial machinery and equipment, n.e.s.,... (NOK-8.82M or -59.3%), and Manufactures of metals, n.e.s. (NOK-7.87M or -43.9%). In September 2024, the decrease in Norway's year-by-year imports  from Russia was explained primarily by an decrease in product imports  in Petroleum, petroleum products and related materials (NOK-582M or -100%), Non-ferrous metals (NOK-337M or -67.6%), and Feeding stuff for animals (not including... (NOK-166M or -100%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (September 2023 - September 2024)NOK-35.3M(-32.6%)
IMPORT GROWTH (September 2023 - September 2024)NOK-32.3M(-15.7%)

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 Russia and Norway trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Russia and Norway Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Norway exported $229M to Russia. The main products exported from Norway to Russia were Animal Food ($112M), Live Fish ($23.6M), and Paper Containers ($8.54M). During the last 5 years the exports of Norway to Russia have decreased at an annualized rate of 7.97%, from $347M in 2017 to $229M in 2022.

In 2017, Russia exported $1.76B to Norway. The main products exported from Russia to Norway were Refined Petroleum ($604M), Raw Aluminium ($424M), and Rapeseed Oil ($202M). During the last 5 years the exports of Russia to Norway have increased at an annualized rate of 4.54%, from $947M in 2022 to $1.76B in 2017.

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

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

Market Competitiveness

Color
Norway
Top DestinationGermany$78.1B
Russia
Top DestinationChina$101B

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

In 2022, countries that imported more from Norway than Russia included United Kingdom ($59.1B), Germany ($78.1B), and Sweden ($17.7B).

In 2022, countries that imported more from Russia than Norway included China ($101B), India ($40.4B), and Turkey ($25.3B).

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

Comparative Advantage Norway - Russia

Flow
Scale

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

During 2022, Norway had a large net trade with Russia in the exports of Foodstuffs ($115M), Machines ($27M), and Animal Products ($25.8M).

During 2017, Russia had a large net trade with Norway in the exports of Mineral Products ($668M), Metals ($434M), and Animal and Vegetable Bi-Products ($229M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Norway Russia+$5.97MRefined Petroleum
Top Product Potential Russia Norway+$387MRefined 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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Bilateral Service Trade

In 2010, Norway exported services to Russia worth $641M, with Services not allocated ($321M), Other business services ($150M), and Transportation ($80.2M) being the largest in terms of value.

In 2020, Russia exported services to Norway worth $117M, with Transportation ($42M), Other business services ($37.2M), and Computer and information services ($21.3M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Services Exports from Russia (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 Russia. This means that a dot/product with the flag of Norway indicates it has a comparative advantage over Russia. Similarly, a dot/product with the flag of Russia indicates it has a comparative advantage over Norway.

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

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