Importing from Norway

Norway Import Guide | Trade Finance Global

Importing from Norway

Imports in Norway are at around NOK 51000 million, which is mainly driven by machinery, transport equipment and miscellaneous manufactured articles. The imports have been at an average level of about 16000 NOK Million from around 1960 until 2015, which has reached a height of around 64000 NOK Million at the start of 2015 and a record low of almost 700 NOK Million in the middle of 1960.

The main imports are machinery and transport equipment (around 40%), manufactured articles (around 15%), food (around 6%), crude materials (around 6%) and mineral fuels (around 5%). The main import partners are Sweden (around 11%), Germany (around 10%), China (around 10%), the UK and the US (6%). The developed economy of

Norway is supported by a strong shipping industry in order to support the export sector. This has been complimented by the high availability of natural resources, which has included petroleum exploration, fisheries and power relating to hydroelectrics. Agriculture and heavy manufacturing have reduced compared to oil-related companies.

Norway Country Profile

Official Name (Local Language) Kongeriket Norge
Capital Oslo
Population 5,265,158
Currency Norwegian Kroner
GDP $376.3 billion
Languages Norwegian
Telephone Dial In 47

Norway Exports Profile

Exports ($m USD)

101,976

Number of Export Products

3,661

Number of Export Partners

207

Top 5 export partners

Country

Trade

% Partner Share

United Kingdom

21,523

21.11

Germany

15,823

15.52

Netherlands

10,135

9.94

Sweden

6,739

6.61

France

6,57

6.44

Top 5 Export Products at HS 6 digit level

Export Product

Number

Petroleum oils and oils obtained from bituminou

7.4%

Natural gas in gaseous state

5.2%

Fresh or chilled Pacific, Atlantic and Danube s

2.8%

Petroleum oils, etc, (excl. crude); preparation

2.1%

Aluminium unwrought, alloyed

2.0%

Chart Showing GDP Growth Compared to rest of world

GDP Composition for Norway

Agriculture

%

Product List

1.8%

Barley, wheat, potatoes; pork, beef, veal, milk; fish

Industry

%

Industry List

34.7%

Petroleum and gas, shipping, fishing, aquaculture, food processing, shipbuilding, pulp and paper products, metals, chemicals, timber, mining, textiles

Services

%

Services List

63.5%

Importing from Norway: What is trade finance?

Imports in Norway are at around NOK 51000 million, which is mainly driven by machinery, transport equipment and miscellaneous manufactured articles. The imports have been at an average level of about 16000 NOK Million from around 1960 until 2015, which has reached a height of around 64000 NOK Million at the start of 2015 and a record low of almost 700 NOK Million in the middle of 1960.

The main imports are machinery and transport equipment (around 40%), manufactured articles (around 15%), food (around 6%), crude materials (around 6%) and mineral fuels (around 5%). The main import partners are Sweden (around 11%), Germany (around 10%), China (around 10%), the UK and the US (6%). The developed economy of

Norway is supported by a strong shipping industry in order to support the export sector. This has been complimented by the high availability of natural resources, which has included petroleum exploration, fisheries and power relating to hydroelectrics. Agriculture and heavy manufacturing have reduced compared to oil-related companies.

Information

Importing from Norway? Contact our local experts

Norway Economic Statistics

Government Website

https://www.regjeringen.no/

Sovereign Ratings

https://countryeconomy.com/ratings/norway

Central Bank

Norges Bank

Currency USD Exchange Rate

8615

Unemployment Rate

4.4%

Population below poverty line

NA

Inflation Rate

3.5%

Prime Lending Rate

6.25%

GDP

$376.3 billion

GDP Pro Capita (PPP)

$69,300

Currency Name

Norwegian Kroner

Currency Code

NOK

World Bank Classification

High Income

Competitive Industrial Performance

11/138

Corruption Perceptions Index

3/180

Ease of Doing Business

7/190

Enabling Trade Index

17/136

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