Trade Balance in Norway

The balance of Norway's external trade in goods: total exports minus total imports, including oil and gas, expressed in Norwegian kroner. It is published by Statistics Norway (SSB).

Statistics Norway publishes the main external-trade figures in millions of kroner, unadjusted; the balance is total exports minus total imports. It is usually scaled to billions of kroner.

Norway typically runs a very large trade surplus thanks to its oil and gas exports, so the balance is driven above all by international energy prices. It is a barometer of the country's energy revenues and a support factor for the krone.

It is highly sensitive to oil and gas prices, which makes it volatile; the figures are released unadjusted and are subject to revision in later publications.