FX.co ★ Norway Trade Surplus Narrows in May

Norway's trade surplus decreased to NOK 46.1 billion in May 2025, down from NOK 52.3 billion in May of the previous year, primarily due to a sharper decline in exports compared to imports. Export figures slipped by 7.4% year-on-year to NOK 138.2 billion, influenced mainly by a reduction in sales of mineral fuels, lubricants, and related materials, which saw a 10.9% drop. There was also a 1.8% decline in the export of food and live animals and a 9.3% decrease in manufactured goods primarily classified by material. In contrast, imports decreased by 5% to NOK 92.1 billion, mainly due to a significant reduction in purchases of manufactured goods chiefly categorized by material, which fell by 13.6%, and chemicals and related products, not elsewhere specified, which decreased by 1.4%. Nevertheless, during the first five months of the year, Norway's trade surplus reached NOK 333.8 billion, reflecting a 13.8% increase compared to the same period in the previous year.