Norway (NOR) and British Virgin Islands (VGB) Trade | The Observatory of Economic Complexity

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Norway-British Virgin Islands In 2022, Norway exported $1.75M to British Virgin Islands. The main products that Norway exported to British Virgin Islands are Compasses ($427k), Gas and Liquid Flow Measuring Instruments ($152k), and Other Measuring Instruments ($144k). During the last 27 years the exports of Norway to British Virgin Islands have decreased at an annualized rate of 11.4%, from $46M in 1995 to $1.75M in 2022.

In 2022, Norway did not export any services to British Virgin Islands.

British Virgin Islands-Norway In 2022, British Virgin Islands exported $21.9k to Norway. The main products that British Virgin Islands exported to Norway were Office Machine Parts ($21.5k) and Other Footwear ($412). During the last 27 years the exports of British Virgin Islands to Norway have decreased at an annualized rate of 17.4%, from $3.8M in 1995 to $21.9k in 2022.

In 2022, British Virgin Islands did not export any services to Norway.

Comparison In 2022, Norway ranked 41 in the Economic Complexity Index (ECI 0.58), and 28 in total exports ($285B). That same year, British Virgin Islands ranked 185 in total exports ($206M), and does not have data regarding Economic Complexity Index.

Latest Trends

February, 2024

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Overview In February 2024, Norway exported NOK222k and imported NOK0 from British Virgin Islands, resulting in a positive trade balance of NOK222k. Between February 2023 and February 2024 the exports of Norway have decreased by NOK-2.08M (-90.4%) from NOK2.3M to NOK222k, while imports remained the same by NOK0 (N/A%) from NOK0 to NOK0.

Trade In February 2024, the top exports of Norway to British Virgin Islands were Professional, scientific and controlling instruments and... (NOK1.33M), Electrical machinery, apparatus and appliances, n.e.s.,... (NOK533k), Manufactures of metals, n.e.s. (NOK64k), General industrial machinery and equipment, n.e.s.,... (NOK25k), and Non-metallic mineral manufactures, n.e.s. (NOK16k). In February 2024 the top imports of Norway from British Virgin Islands 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 February 2024, the decrease in Norway's year-by-year exports to British Virgin Islands was explained primarily by an decrease in product exports in . In February 2024, the change in Norway's year-by-year imports from British Virgin Islands was explained primarily by an decrease in product imports in .

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)NOK-2.08M(-90.4%)

IMPORT GROWTH (February 2023 - February 2024)NOK0(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 British Virgin Islands 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 2022, Norway exported $1.75M to British Virgin Islands. The main products exported from Norway to British Virgin Islands were Compasses ($427k), Gas and Liquid Flow Measuring Instruments ($152k), and Other Measuring Instruments ($144k). During the last 27 years the exports of Norway to British Virgin Islands have decreased at an annualized rate of 11.4%, from $46M in 1995 to $1.75M in 2022.

In 2022, British Virgin Islands exported $21.9k to Norway. The main products exported from British Virgin Islands to Norway were Office Machine Parts ($21.5k) and Other Footwear ($412). During the last 25 years the exports of British Virgin Islands to Norway have decreased at an annualized rate of 17.4%, from $3.8M in 1997 to $21.9k in 2022.

Exports from Norway () to British Virgin Islands () (2022)

Exports from British Virgin Islands () to Norway () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Norway
Top DestinationGermany$78.1B

British Virgin Islands
Top DestinationMalta$85.8M

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

In 2021, countries that imported more from Norway than British Virgin Islands were Germany ($78.1B), United Kingdom ($59.1B), and France ($25.9B).

In 2021, countries that imported more from British Virgin Islands than Norway were Malta ($85.8M), Zimbabwe ($5.02M), and Madagascar ($266k).

Difference in imports from British Virgin Islands () and Norway () (2022)

Comparative Advantage Norway - British Virgin Islands

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Norway and British Virgin Islands by product, considering products traded by both, Norway and British Virgin Islands.

During 2022, Norway had a large net trade with British Virgin Islands in the exports of Instruments ($930k), Machines ($759k), and Metals ($28.6k).

During 2022, British Virgin Islands had a large net trade with Norway in the exports of Machines ($21.5k) and Footwear and Headwear ($412).

Economic Complexity

Competitive Landscape

Year

This visualization show the product space at the HS4 level colored from blue to yellow. This mean that the more blue a dot/product is, the more Norway has comparative advantage over British Virgin Islands. Similarly, the more yellow a dot/product is, the more British Virgin Islands has comparative advantage over Norway.

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Latest Trends

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Latest Trade

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Historical Data

Bilateral Trade by Products

Exports from Norway () to British Virgin Islands () (2022)

Exports from British Virgin Islands () to Norway () (2022)

Market Competitiveness

Difference in imports from British Virgin Islands () and Norway () (2022)

Comparative Advantage Norway - British Virgin Islands

Economic Complexity

Competitive Landscape

Product Space of Norway () and British Virgin Islands () (2022)

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