2022
Exports
$58.9BWorld Rnk 8 / 149
Flag Rnk 2 / 1197
2022
PRODUCT COMPLEXITY IN Crude Petroleum
-2.25Rnk 1011 / 1025
2022
Imports
$711MWorld Rnk 56 / 158
Flag Rnk 25 / 1211
2022
ECONOMIC COMPLEXITY of Norway
0.54Rnk 43 / 133

About

Exports In 2022, Norway exported $58.9B in Crude Petroleum, making it the 8th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 2nd most exported product in Norway. The main destination of Crude Petroleum exports from Norway are: United Kingdom ($18.3B), Netherlands ($9.73B), Sweden ($8.93B), Germany ($5.7B), and Finland ($5.05B).

The fastest growing export markets for Crude Petroleum of Norway between 2021 and 2022 were United Kingdom ($6.14B), Finland ($4.32B), and Germany ($3.58B).

Imports In 2022, Norway imported $711M in Crude Petroleum, becoming the 56th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 25th most imported product in Norway. Norway imports Crude Petroleum primarily from: United States ($415M), Libya ($124M), Azerbaijan ($64.3M), Brazil ($54M), and United Kingdom ($54M).

The fastest growing import markets in Crude Petroleum for Norway between 2021 and 2022 were Libya ($124M), Azerbaijan ($64.3M), and Namibia ($32k).

Latest Trends

Aug 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Crude Petroleum. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$58.9B
IMPORTS (2022)$711M
NET TRADE (2022)$58.2B

In 2022, Norway exported $58.9B in Crude Petroleum. The main destinations of Norway exports on Crude Petroleum were United Kingdom ($18.3B), Netherlands ($9.73B), Sweden ($8.93B), Germany ($5.7B), and Finland ($5.05B).

In 2022, Norway imported $711M in Crude Petroleum, mainly from United States ($415M), Libya ($124M), Azerbaijan ($64.3M), Brazil ($54M), and United Kingdom ($54M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Norway WERE (2021 - 2022):
United Kingdom$6.14B (50.6%)
Finland$4.32B (590%)
Germany$3.58B (169%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Norway WERE (2021 - 2022):
China-$3.37B (-52.5%)
India-$881M (-89.9%)
South Korea-$783M (-71%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Norway's main exporting competitors in Crude Petroleum were:
In 2022, Norway's main importing competitors in Crude Petroleum were:

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Trade Value of Crude Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $1.87B
TOP IMPORT POTENTIALBrazil+ $33.8M

Crude Petroleum’s highest export potential is China. With an export gap of $1.87B.   Crude Petroleum’s highest import potential is Brazil with an import gap of $33.8M.

See methodology.

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