Overview In 2019 Norway was the number 29 economy in the world in terms of GDP (current US$), the number 35 in total exports, the number 38 in total imports, the number 6 economy in terms of GDP per capita (current US$) and the number 38 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Norway are Crude Petroleum ($29.6B), Petroleum Gas ($23B), Non-fillet Fresh Fish ($6.82B), Refined Petroleum ($6.11B), and Raw Aluminium ($2.93B), exporting mostly to United Kingdom ($20B), Germany ($15.5B), Netherlands ($11.1B), Sweden ($10.1B), and France ($6.58B).

In 2019, Norway was the world's biggest exporter of Non-fillet Fresh Fish ($6.82B), Processed Fish ($1.08B), Other Sea Vessels ($628M), and Wood Pulp Lyes ($105M)

Imports The top imports of Norway are Cars ($5.5B), Refined Petroleum ($2.76B), Broadcasting Equipment ($1.81B), Petroleum Gas ($1.72B), and Crude Petroleum ($1.64B), importing mostly from Sweden ($14.8B), Germany ($10.3B), China ($6.73B), Denmark ($5.8B), and United States ($5.3B).

In 2019, Norway was the world's biggest importer of Fish Oil ($386M), Fishing Ships ($374M), and Other Sea Vessels ($304M)

Location Norway borders Finland, Russia, and Sweden by land and Denmark, Iceland, United Kingdom, and Greenland by sea.

September, 2021

Historical Data

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Yearly Exports

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Top Export (2019): Crude Petroleum, $29.6B

Top Destination (2019): United Kingdom, $20B

In 2019, Norway exported a total of $109B, making it the number 35 exporter in the world. During the last five reported years the exports of Norway have changed by -$40.5B from $150B in 2014 to $109B in 2019.

The most recent exports are led by Crude Petroleum ($29.6B), Petroleum Gas ($23B), Non-fillet Fresh Fish ($6.82B), Refined Petroleum ($6.11B), and Raw Aluminium ($2.93B). The most common destination for the exports of Norway are United Kingdom ($20B), Germany ($15.5B), Netherlands ($11.1B), Sweden ($10.1B), and France ($6.58B).

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Yearly Imports

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Top Import (2019): Cars, $5.5B

Top Origin (2019): Sweden, $14.8B

In 2019 Norway imported $88.9B, making it the number 38 trade destination in the world. During the last five reported years the imports of Norway changed by -$2.49B from $91.3B in 2014 to $88.9B in 2019.

The most recent imports of Norway are led by Cars ($5.5B), Refined Petroleum ($2.76B), Broadcasting Equipment ($1.81B), Petroleum Gas ($1.72B), and Crude Petroleum ($1.64B). The most common import partners for Norway are Sweden ($14.8B), Germany ($10.3B), China ($6.73B), Denmark ($5.8B), and United States ($5.3B).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Norway Exports Services (2018): $60.9B

Norway Imports Services (2018): $72.4B

In 2018, Norway exported $60.9B worth of services. The top services exported by Norway in 2018 were Transportation ($28.7B), Other business services ($13B), Personal travel ($8.15B), Financial services ($4.38B), and Computer and information services ($3.5B).

The top services imported by Norway in 2018 were Personal travel ($21.2B), Other business services ($17.9B), Transportation ($17.2B), Computer and information services ($6.16B), and Business travel ($2.94B).

Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Norway are Beer made from malt (115k%) and Flour or meal, pellet of meat or offal for animal fee (1.99k%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

*The tariffs applied to imports for Norway are:
136: Most Favoured Nation duty rate treatement
160: Preferential tariff for Albania
172: Preferential tariff for Bosnia and Herzegovina
178: Preferential tariff for Canada
182: Preferential tariff for Chile
189: Preferential tariff for Colombia
192: Preferential tariff for Costa Rica
206: Preferential tariff for Egypt
216: Preferential tariff for European Economic Area
217: Preferential tariff for European Free Trade Association (EFTA) countries
218: Preferential tariff for European Union countries
222: Preferential tariff for Faroe Islands
224: Preferential tariff for for occupied Palestinian territory
226: Preferential tariff for Georgia
228: Preferential tariff for Greeland
231: Preferential tariff for Gulf Cooperation Council (GCC)
235: Preferential tariff for Hong Kong
244: Preferential tariff for Israel
247: Preferential tariff for Jordan
249: Preferential tariff for Korea, Republic of
255: Preferential tariff for Lebanon
262: Preferential tariff for Macedonia
270: Preferential tariff for Mexico
272: Preferential tariff for Montenegro
273: Preferential tariff for Morocco
285: Preferential tariff for Panama
289: Preferential tariff for Peru
290: Preferential tariff for Philippines
299: Preferential tariff for Singapore
303: Preferential tariff for Southern African Customs Union (SACU) countries
321: Preferential tariff for Tunisia
322: Preferential tariff for Turkey
325: Preferential tariff for Ukraine

Economic Complexity

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Most Specialized Products by RCA Index

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Norway has a high level of specialization in Non-fillet Fresh Fish (53.3), Processed Fish (26.6), Other Sea Vessels (26.3), Carboxyamide Compounds (24.3), and Fishing Ships (18). Specialization is measured using RCA, an index that takes the ratio between Norway observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Norway according to the product complexity index (PCI) are Glazed transparent, translucent papers (1.6), Equipment to measure fluid flow, level, pressure, etc (1.51), Carboxyimide-function and imine-function compounds (1.42), Pumps for liquids (1.41), and Amino-resins, pheonolic resins, polyurethanes, primary (1.26). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Norway according to the relatedness index, are Uranium and Thorium Ore (0.2), Iron Ore (0.18), Sulphur (0.17), Manganese Ore (0.16), and Nickel Mattes (0.16). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Norway is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

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This network shows the products most related to the production structure of Norway. These are products that tend to be co-exported with the products that Norway exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Economic Complexity Ranking

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During the last 20 years Norway's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨19th to the 38th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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