FX.co ★ Norway Trade Surplus Narrows in December

In October 2025, Norway experienced a reduced trade surplus, decreasing to NOK 42.9 billion from NOK 78.5 billion in October of the previous year. This shift was attributed to a decline in exports alongside an increase in imports. Specifically, exports fell by 17.8% on a year-over-year basis, amounting to NOK 138.7 billion. This decline was primarily driven by a significant reduction of 26.8% in sales of mineral fuels, lubricants, and related materials. Additionally, exports of machinery and transport equipment decreased by 3.2%, while manufactured goods classified chiefly by material saw a slight drop of 0.6%. Conversely, imports rose by 6.1%, reaching NOK 92.8 billion. This rise was propelled by a 10.9% increase in the import of machinery and transport equipment, alongside a 4% increase in miscellaneous manufactured articles and a 16.8% rise in manufactured goods classified chiefly by material. Over the entire year of 2025, Norway's trade surplus amounted to NOK 662.8 billion, a decrease from NOK 720.0 billion in 2024. This change was due to a 1.8% decline in exports and a 2.2% increase in imports.