2023
Exports
$6.76BWorld Rnk 29 / 214
Flag Rnk 4 / 1199
2023
PRODUCT COMPLEXITY IN Refined Petroleum
-0.94Rnk 813 / 1025
2023
Imports
$5.17BWorld Rnk 44 / 226
Flag Rnk 2 / 1207
2023
ECONOMIC COMPLEXITY of Norway
0.47Rnk 44 / 132

About

Exports In 2023, Norway exported $6.76B in Refined Petroleum, making it the 29th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 4th most exported product in Norway. The main destination of Refined Petroleum exports from Norway are: United States ($1.34B), Nigeria ($1.07B), Sweden ($945M), United Kingdom ($853M), and Iceland ($552M).

The fastest growing export markets for Refined Petroleum of Norway between 2022 and 2023 were United States ($298M), United Kingdom ($160M), and Ghana ($151M).

Imports In 2023, Norway imported $5.17B in Refined Petroleum, becoming the 44th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 2nd most imported product in Norway. Norway imports Refined Petroleum primarily from: Sweden ($1.51B), Netherlands ($1.49B), United States ($741M), Belgium ($498M), and United Kingdom ($383M).

The fastest growing import markets in Refined Petroleum for Norway between 2022 and 2023 were United States ($367M), Netherlands ($292M), and Belgium ($217M).

Latest Trends

Dec 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 Refined 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 (2023)$6.76B
IMPORTS (2023)$5.17B
NET TRADE (2023)$1.59B

In 2023, Norway exported $6.76B in Refined Petroleum. The main destinations of Norway exports on Refined Petroleum were United States ($1.34B), Nigeria ($1.07B), Sweden ($945M), United Kingdom ($853M), and Iceland ($552M).

In 2023, Norway imported $5.17B in Refined Petroleum, mainly from Sweden ($1.51B), Netherlands ($1.49B), United States ($741M), Belgium ($498M), and United Kingdom ($383M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Norway WERE (2022 - 2023):
United States$298M (28.5%)
United Kingdom$160M (23%)
Ghana$151M (544k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Norway WERE (2022 - 2023):
Nigeria-$615M (-36.4%)
Sweden-$408M (-30.2%)
Iceland-$134M (-19.5%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Norway's main exporting competitors in Refined Petroleum were:
In 2023, Norway's main importing competitors in Refined Petroleum were:

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Trade Value of Refined Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited Kingdom+ $372M
TOP IMPORT POTENTIALRussia+ $387M

Refined Petroleum’s highest export potential is United Kingdom. With an export gap of $372M.   Refined Petroleum’s highest import potential is Russia with an import gap of $387M.

See methodology.

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