Exports in Norway

Norway Exports | Economic News & Forecasts

Norway - Exports

Dynamics should have been muted in Q1 2022, as monthly GDP returned to tepid growth in February following January’s sharp drop. The external sector contributed to overall growth in February, while private spending expanded strongly, aided by the scrapping of virtually all Covid-19 restrictions and the fact that Q1 saw the lowest unemployment rate since Q4 2012. That said, downbeat consumer confidence and high inflation in the quarter likely dragged somewhat on private spending. At the tail end of Q1 and into Q2, public coffers should have benefitted from high gas and oil prices. Less positively, household consumption could be weighed on in the quarter by elevated price pressures, although a tight labor market should ease the burden somewhat. In response to Russia’s invasion of Ukraine, Norway closed its borders and ports to Russian trade in late April.

Norway - Exports Data

2015   2016   2017   2018   2019  
Exports (USD billion)104  89.5  104  123  104  

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Norway Exports Chart

Norway Exports
Note: Exports in USD billion.
Source: Statistics Norway and FocusEconomics calculations.

Norway Facts

Value Change Date
Bond Yield1.58-0.65 %Jan 01
Exchange Rate8.78-0.38 %Jan 01

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