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Balance of trade · Norway

Norway Balance of Trade

The Norway Balance of Trade shows the difference between the value of goods (and sometimes services) that Norway sells abroad and what it buys from abroad, or the growth of exports and imports.

Importance
Low
Released
Monthly
Next release
Currency
NOK · Norwegian krone
Central bank
Norges Bank
Moves
EURNOK# · GBPNOK# · USDNOK

Latest figures

The latest release for SEP, published on 15 October 2026, came in at NOK105.0B.

ReleasedForActualConsensusPrevious
15 Oct 2026SEPNOK105.0B–NOK100.6B ®
15 Sep 2026AUGNOK100.4B–NOK88.8B ®
17 Aug 2026JULNOK84.3B–NOK63.3B ®
15 Jul 2026JUNNOK61.9B–NOK62.2B ®
15 Jun 2026MAYNOK62.6B–NOK83.6B ®
15 May 2026APRNOK84.2B–NOK96.4B ®
15 Apr 2026MARNOK97.5B–NOK44.9B ®
16 Mar 2026FEBNOK44.8B–NOK75.8B ®
16 Feb 2026JANNOK75.9B–NOK42.9B
15 Jan 2026DECNOK42.9B–NOK41.3B
15 Dec 2025NOVNOK41.3B–NOK56.1B ®
17 Nov 2025OCTNOK56.5B–NOK35B ®

See it in the economic calendar →

Why it matters

Exports are a big part of demand for open economies (Germany, China, Japan, Korea, the Netherlands). A larger surplus means more foreign demand for the Norwegian krone; strong imports signal domestic demand. China's figures are read as a gauge of world demand.

How it is calculated

Customs records the value of goods crossing the border; services come from surveys. The balance is exports minus imports, usually seasonally adjusted.

Trade balance = exports − imports

What changes mean

  • Look at exports and imports separately: a wider surplus from collapsing imports is a sign of weak domestic demand, not strength.
  • Exchange-rate moves take months to affect trade volumes (the J-curve).

Higher than expected: A larger surplus (or smaller deficit) than expected tends to support the Norwegian krone.

Lower than expected: A smaller surplus (or larger deficit) than expected tends to weigh on the Norwegian krone.

A short history

Trade balances were the obsession of mercantilism in the 16th–18th centuries; David Hume's price-specie flow mechanism (1752) explained why surpluses tend to correct themselves.

Questions

What is the Norway Balance of Trade?

The Norway Balance of Trade shows the difference between the value of goods (and sometimes services) that Norway sells abroad and what it buys from abroad, or the growth of exports and imports.

What was the latest Norway Balance of Trade?

NOK105.0B for SEP, published on 15 October 2026.

When is the next Norway Balance of Trade?

On Monday 16 November 2026 at 07:00 UTC.

Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.