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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
6,570
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.
Government Website
https://www.regjeringen.no/
Sovereign Ratings
https://countryeconomy.com/ratings/norway
Central Bank
Norges Bank
Currency USD Exchange Rate
8.615
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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Careers | Terms of Business | Get in Touch | Partners
Trade Finance Global is the trading name of TFG Finance Ltd (company number: 10305143) and TFG Publishing Ltd (12157036), incorporated in England and Wales, at 201 Haverstock Hill, Second Floor Fkgb, London, England, NW3 4QG. Trade Finance Global is registered as a Data Controller under the ICO: ZB421903 and ZB436621.
TFG Finance Ltd is an introducer, not a lender, working with Limited Companies and Incorporated Bodies who may pay us a commission.
© 2023 Trade Finance Global