FX.co ★ Norway Trade Surplus Narrows in January

Norway’s trade surplus narrowed to NOK 75.9 billion in January 2026, down from NOK 91.5 billion in the same month a year earlier, as exports declined more sharply than imports. Exports fell 12.6% year-on-year to NOK 154.5 billion, driven primarily by lower sales of fuels, lubricating oils, and electric power (-18.5%). Shipments of processed goods, grouped mainly by material (-12.0%), and chemical products (-10.5%) also decreased. On the import side, total purchases fell 8.0% to NOK 78.6 billion, with declines across most major commodity groups, particularly machinery and transport equipment (-2.4%), various finished goods (-4.8%), and processed goods grouped mainly by material (-14.7%).