FX.co ★ Norway Trade Surplus Narrows Slightly

Norway experienced a slight contraction in its trade surplus, which settled at NOK 56.5 billion in October 2025, compared to NOK 56.6 billion in October of the previous year. This change resulted from a decrease in exports that was less pronounced than the reduction in imports. Specifically, exports saw a 3.9% decline year-on-year, totaling NOK 154.5 billion, driven chiefly by a significant 16.4% drop in shipments of mineral fuels, lubricants, and related materials. Concurrently, imports decreased by 5.8% to NOK 98.0 billion, largely due to a reduction in purchases of machinery and transport equipment (down by 4.2%), miscellaneous manufactured articles (down by 7.9%), and manufactured goods primarily classified by material (down by 5.7%). Over the January to October period, Norway recorded a trade surplus of NOK 579.2 billion, reflecting a 1.1% increase when compared to the same timeframe the previous year.