Archive:Norway-EU - international trade in goods statistics

Data extracted in March 2020
Planned article update: March 2021

Highlights

In 2019, Norway was the eighth largest partner for EU exports of goods (4 %) and also the eighth largest partner for EU imports of goods (3 %).

Among EU Member States, the Netherlands was the largest importer of goods from Norway and Sweden was the largest exporter of goods to Norway in 2019.

Dynamic chart file missing

This article provides a picture of the international trade in goods between the European Union (EU) and Norway. It analyses the type of goods exchanged between the two economies and the shares of each EU Member State in those exchanges.

This article is part of an online publication providing recent statistics on international trade in goods, covering information on the EU's main partners, main products traded, specific characteristics of trade as well as background information.

Full article

EU and Norway in world trade in goods

Figure 1a shows the position of Norway among the largest traders in the world in 2018. The four largest exporters were China (EUR 2 107 billion, 16 %), the EU-27 (EUR 1 908 billion, 14 %), the United States (EUR 1 412 billion, 11 %) and Japan (EUR 626 billion, 5 %). The four largest importers were the United States (EUR 2 107 billion, 16 %), the EU-27 (EUR 2 060 billion, 15 %), China (EUR 1 810 billion, 13 %) and Japan (EUR 634 billion, 5 %). Figure 1b has some more details. It shows that Norway (EUR 103 billion, 1 %) was the 24^th largest exporter in the world between Turkey (EUR 142 billion, 1 %) and Iran (EUR 89 billion, 1 %). It was the 26^th largest importer in the worldNorway (EUR 73 billion, 1 %) between South Africa (EUR 96 billion, 1 %) and Israel (EUR 68 billion, 0 %).

Figure 1a: Norway among the world's largest traders of goods, 2018
Source: Eurostat (ext_lt_introle) and UNCTAD

Top traders in goods with a focus on Norway, 2018 (EUR billion)
Source: Eurostat (ext_lt_introle) and UNCTAD

Figure 2 shows the imports and exports of the EU and Norway indexed at 100 in 2008 for the period to 2018. It also shows the cover ratio (exports / imports) for this period. Exports from the EU were lowest in 2009 (83) and highest in 2018 (145). Imports to the EU were lowest in 2009 (77) and highest in 2018 (123). The cover ratio for the EU was lowest in 2008 (91 %) and highest in 2016 (116 %) and was 108 % in 2018. Exports from Norway were lowest in 2016 (51) and highest in 2008 (100) and were 71 in 2018. Imports to Norway were lowest in 2009 (76) and highest in 2011 (101) and were 96 in 2018. The cover ratio for Norway was lowest in 2016 (123 %) and highest in 2008 (190 %) and was 141 % in 2018.

Figure 2: Trade in goods of the EU-27 and Norway, 2008 to 2018
Source: Eurostat (ext_lt_introle) and UNCTAD

Both exports to and imports from Norway increased between 2009 and 2019.

Figure 3a shows the position of Norway among the largest trade partners of the EU in 2019. The four largest export partners of the EU were the United States (27 %), the United Kingdom (18 %), China (14 %) and Switzerland (10 %). The four largest import partners of the EU were China (19 %), the United States (12 %), the United Kingdom (10 %) and Russia (8 %). Figure 3b has some more details. It shows that Norway (EUR 52 billion, 3.6 %) was the eighth largest export partner of the EU, between Japan (EUR 61 billion, 4.3 %) and South Korea (EUR 43 billion, 3.0 %). In imports Norway (EUR 54 billion, 2.8 %) was the eighth largest partner of the EU, between Japan (EUR 63 billion, 3.3 %) and South Korea (EUR 47 billion, 2.5 %).

Figure 3a: Norway among the EU-27's main partners for trade in goods, 2019
Source: Eurostat (ext_st_eu27_2019sitc) and Comext DS-018995

Figure 3b: Top trade in goods partners of the EU-27 with a focus on Norway, 2019 (EUR billion)
Source: Eurostat (ext_st_eu27_2019sitc) and Comext DS-018995

Figure 4 shows exports, imports and trade balance between the EU and Norway. In 2009, the EU had a trade deficit with Norway of EUR 18 billion. The trade deficit remained throughout the whole period, reaching EUR 2 billion in 2019. Both exports to and imports from Norway increased between 2009 and 2019. EU exports to Norway were highest in 2019 (EUR 52 billion) and lowest in 2009 (EUR 35 billion). EU imports from Norway were highest in 2012 (EUR 71 billion) and lowest in 2016 (EUR 47 billion).

Figure 4: EU-27 trade in goods with Norway, 2009-2019 (EUR billion)
Source: Eurostat (ext_st_eu27_2019sitc) and Comext DS-018995

EU-Norway trade by type of goods

Figure 5 shows the breakdown of EU trade with Norway by SITC groups. The red colours denote the primary products: food & drink, raw materials and energy, while the blue colours show the manufactured goods: chemicals, machinery & vehicles and other manufactured goods. Finally, other goods are shown in green. In 2019, EU exports of manufactured goods (80 %) had a higher share than primary goods (17 %). The most exported manufactured goods were machinery & vehicles (42 %), followed by other manufactured products (29 %) and chemicals (10 %). In 2019, EU imports of primary goods (58 %) had a higher share than manufactured goods (25 %). The most imported primary goods were energy (42 %), followed by food & drink (13 %) and raw materials (3 %).

Figure 5: EU-27 trade with Norway by product group, 2009 and 2019 (EUR billion)
Source: Eurostat (ext_st_eu27_2019sitc) and Comext DS-018995

Figure 6 shows the evolution of EU imports and exports by SITC group since 2009. In 2019, the EU had trade surpluses in machinery & vehicles (EUR 18.1 billion), other manufactured products (EUR 7.9 billion), chemicals (EUR 1.8 billion) and raw materials (EUR 0.1 billion). The EU had trade deficits in food & drink (EUR 2.9 billion), other products (EUR 7.4 billion) and energy (EUR 19.9 billion).

Figure 6: EU-27 trade with Norway by group, 2009-2019 (EUR billion)
Source: Eurostat (ext_st_eu27_2019sitc) and Comext DS-018995

EU-Norway most traded goods

Figure 7 gives more detail about the goods exchanged between the EU and Norway, showing the 20 most traded goods at a (SITC-3 level. These top 20 goods covered 47 % of total trade in goods in 2019. Seven belonged to machinery and vehicles, six to other manufactured products, five to energy, one each to food and drink and chemicals. The most traded product group at this level was petroleum oils, crude. Another interesting way to look at the data is to investigate the cover ratio (exports / imports) of traded goods, showing the direction of the trade flows between the two economies. These ratios can be found in the right-hand margin of Figure 7. Five products were below 50 %, indicating EU imports from Norway were at least twice as large as EU exports to Norway. Eleven products were above 200 %, indicating EU exports to Norway were at least twice as large as EU imports from Norway. Four products were between 50 % and 200 %, showing more balanced trade.

Figure 7: Most traded products between EU-27 and Norway, 2019 (EUR billion)
Source: Eurostat DS-018995

Trade with Norway by Member State

Table 1a shows the imports to Norway by Member State. The three largest importers from Norway in the EU were the Netherlands (EUR 14 615 million), Sweden (EUR 11 808 million) and Germany (EUR 9 996 million). Sweden (24.3 %) had the highest share for Norway in its extra-EU imports.

Table 1a: EU-27 imports of goods from Norway, 2019
Source: Eurostat (ext_st_eu27_2019sitc) and Comext DS-018995

Table 1b shows the exports to Norway by Member State. The three largest exporters to Norway in the EU were Sweden (EUR 15 292 million), Germany (EUR 9 113 million) and Denmark (EUR 5 993 million). Sweden (22.4 %) had the highest share for Norway in its extra-EU exports.

Table 1b: EU-27 exports of goods to Norway, 2019
Source: Eurostat (ext_st_eu27_2019sitc) and Comext DS-018995

Table 1c shows the trade balance between the EU Member States and Norway. The table shows that 20 Member States had a trade surplus with Norway. The largest surplus was held by Sweden (EUR 3 484 million), followed by Poland (EUR 1 377 million) and Denmark (EUR 1 300 million). There were seven Member States that had a trade deficit with Norway. The largest deficit was held by the Netherlands (EUR 9 318 million), followed by Belgium (EUR 1 542 million) and Germany (EUR 883 million).

Table 1c: EU-27 trade balance of goods with Norway, 2019 (EUR million)
'Source: Eurostat (ext_st_eu27_2019sitc) and Comext DS-018995

Source data for tables and graphs

EU-27 - Norway international trade in goods statistics - graphs and tables

Data sources

EU data is taken from Eurostat's COMEXT database. COMEXT is the reference database for international trade in goods. It provides access not only to both recent and historical data from the EU Member States but also to statistics of a significant number of third countries. International trade aggregated and detailed statistics disseminated via the Eurostat website are compiled from COMEXT data according to a monthly process.

Data are collected by the competent national authorities of the Member States and compiled according to a harmonised methodology established by EU regulations before transmission to Eurostat. For extra-EU trade, the statistical information is mainly provided by the traders on the basis of customs declarations.

EU data are compiled according to Community guidelines and may, therefore, differ from national data published by the Member States. Statistics on extra-EU trade are calculated as the sum of trade of each of the 28 EU Member States with countries outside the EU. In other words, the EU is considered as a single trading entity and trade flows are measured into and out of the area, but not within it.

Data for the other major traders are taken from the Comtrade database of the United Nations. Data availability differs among countries, therefore Figure 1 shows the latest common available year for all the main traders. For the calculation of shares world trade is defined as the sum of EU trade with non-EU countries (source: Eurostat) plus the international trade of non-EU countries (source: IMF Dots database).

Methodology

According to EU concepts and definitions, extra-EU trade statistics (trade between EU Member States and non-EU countries) do not record exchanges involving goods in transit, placed in a customs warehouse or given temporary admission (for trade fairs, temporary exhibitions, tests, etc.). This is known as 'special trade'. The partner is the country of final destination of the goods for exports and the country of origin for imports.

Product classification

Information on commodities exported and imported is presented according to the Standard international trade classification (SITC). A full description is available from Eurostat's classification server RAMON.

Unit of measure

Trade values are expressed in millions or billions (10⁹) of euros. They correspond to the statistical value, i.e. to the amount which would be invoiced in the event of sale or purchase at the national border of the reporting country. It is called a FOB value (free on board) for exports and a CIF value (cost, insurance, freight) for imports.

Context

Trade is an important indicator of Europe's prosperity and place in the world. The bloc is deeply integrated into global markets both for the products it sources and the exports it sells. The EU trade policy is an important element of the external dimension of the 'Europe 2020 strategy for smart, sustainable and inclusive growth' and is one of the main pillars of the EU's relations with the rest of the world.

Because the 28 EU Member States share a single market and a single external border, they also have a single trade policy. EU Member States speak and negotiate collectively, both in the World Trade Organization, where the rules of international trade are agreed and enforced, and with individual trading partners. This common policy enables them to speak with one voice in trade negotiations, maximising their impact in such negotiations. This is even more important in a globalised world in which economies tend to cluster together in regional groups.

The openness of the EU's trade regime has meant that the EU is the biggest player on the global trading scene and remains a good region to do business with. Thanks to the ease of modern transport and communications, it is now easier to produce, buy and sell goods around the world which gives European companies of every size the potential to trade outside Europe.