Norway
ECON COMPLEXITY (2018)
0.85
RANK 34 OF 137
PRODUCT EXPORTS (2018)
$127B
RANK 33 OF 222
EXPORTS PER CAPITA (2018)
$24K
RANK 114 OF 219
PRODUCT IMPORTS (2018)
$89.5B
RANK 40 OF 221
IMPORTS PER CAPITA (2018)
$16.9K
RANK 123 of 219
SERVICE EXPORTS (2011)
$81.9B
RANK 139 OF 139
SERVICE IMPORTS (2011)
$90.6B
RANK 139 OF 139
GDP (2018)
$434B
CURRENT US$
RANK 27 OF 196
GDP GROWTH (2008-2018)
-6.08%
CURRENT US$
RANK 182 OF 196
GDP PC (2018)
$81,697
CURRENT US$
RANK 5 OF 196
GDP PC GROWTH (2008-2018)
-15.7%
CURRENT US$
RANK 177 OF 196
Overview: In 2018 Norway was the number 27 economy in the world in terms of GDP (current US$), the number 33 in total exports, the number 40 in total imports, and the number 34 most complex economy according to the Economic Complexity Index (ECI). In 2018, Norway exported $127B and imported $89.5B, resulting in a positive trade balance of $37.8B. In 2018, Norway’s exports per capita were $24k and its imports per capita were $16.9k.
Trade: The top exports of Norway are Petroleum Gas ($37.2B), Crude Petroleum ($33B), Refined Petroleum ($6.97B), Non-fillet Fresh Fish($6.79B), and Raw Aluminium ($3.29B). The top imports of Norway are Cars ($6.24B), Refined Petroleum ($2.52B), Special Purpose Ships($1.95B), Broadcasting Equipment ($1.81B), and Passenger and Cargo Ships ($1.77B).
Destinations: Norway exports mostly to United Kingdom ($25.8B), Germany ($20.2B), Netherlands ($12.4B), Sweden ($9.8B), and France($8.73B), and imports mostly from Sweden ($15.2B), Germany($10.8B), China ($6.17B), United States ($5.8B), and Denmark ($5.74B).
Location: Norway borders Finland, Russia, and Sweden by land and Denmark, Iceland, United Kingdom, and Greenland by sea.
Exports
In 2018 Norway exported a total of $127B, making it the number 33 exporter in the world. During the last five reported years the exports of Norway have changed by -$27B from $154B in 2013 to $127B in 2018.
The most recent exports are led by Petroleum Gas ($37.2B), Crude Petroleum ($33B), Refined Petroleum ($6.97B), Non-fillet Fresh Fish ($6.79B), and Raw Aluminium ($3.29B).
Imports
In 2018 Norway imported $89.5B, making it the number 40 trade destination in the world. During the last five reported years the imports of Norway changed by -$2.86B from $92.4B in 2013 to $89.5B in 2018.
The most recent imports of Norway are led by Cars ($6.24B), Refined Petroleum ($2.52B), Special Purpose Ships ($1.95B), Broadcasting Equipment ($1.81B), and Passenger and Cargo Ships ($1.77B).
Trade Balance
As of 2018 Norway had a positive trade balance of $21.2B in net exports. As compared to their trade balance in 1995 when they still had a positive trade balance of $10.2B in net exports.
Destinations
The most common destination for the exports of Norway are United Kingdom ($25.8B), Germany ($20.2B), Netherlands ($12.4B), Sweden ($9.8B), and France ($8.73B).
Origins
The most common import partners for Norway are Sweden ($15.2B), Germany ($10.8B), China ($6.17B), United States ($5.8B), and Denmark ($5.74B).