Norway-EU - international trade in goods statistics


Data extracted in March 2021

Planned article update: March 2022

Highlights


In 2020, Norway was the eighth largest partner for EU exports of goods (2.5 %) and the ninth largest partner for EU imports of goods (2.5 %).
Among EU Member States, Sweden was both the largest importer of goods from and the largest exporter of goods to Norway.
[[File:Norway-EU international trade in goods 2021.xlsx]]

EU trade in goods with Norway, 2010-2020

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

Recent developments, impact of COVID-19

The COVID-19 crisis caused both exports and imports between the EU and Norway to fall in 2020. Exports reached a minimum of EUR 3.4 billion in April 2020. By December 2020 they had recovered to EUR 4.3 billion. Imports reached a minimum of EUR 2.8 billion in May 2020. By December 2020 they had recovered to EUR 3.7 billion.

Figure 1: EU trade in goods with Norway, 2019-2020
Source: Eurostat (ext_st_eu27_2020sitc)

Figure 2 compares trade with Norway to trade with other non EU countries. Between January 2019 and December 2020, exports to Norway decreased by 6.0 % while exports to other non EU countries decreased by 2.4 %. Imports from Norway decreased by 29.3 % while imports from other non EU countries decreased by 9.1 %. April was the month with the largest drop for exports compared to the same month in 2019. The drop in exports to Norway (-25 %) was lower than for other non EU countries (-29 %) . However, imports from Norway (- 46 % in April and - 47 % in May 2020 ) suffered much more than imports from other non EU countries (-20 % in April and -19 % in May). In large part this was due to a slump in the imports of oil and gas for which Norway is the EU's second largest partner after Russia.

Figure 2: EU trade in goods with Norway and other non-EU countries, 2019-2020
Source: Eurostat (ext_st_eu27_2020sitc)

EU and Norway in world trade in goods

Figure 3a shows the position of Norway among the largest traders of goods in the world in 2019. The four largest exporters were China (EUR 2 233 billion, 16.1 %), the EU (EUR 2 132 billion, 15.4 %), the United States (EUR 1 468 billion, 10.6 %) and Japan (EUR 630 billion, 4.6 %). The four largest importers were the United States (EUR 2 293 billion, 16.1 %), the EU (EUR 1 940 billion, 13 .7%), China (EUR 1 857 billion, 13.1 %) and Japan (EUR 644 billion, 4.5 %). Figure 3b has some more details. It shows that Norway (EUR 92 billion, 0.7 %) was the 24th largest exporter in the world between Indonesia (EUR 150 billion, 1.1 %) and South Africa (EUR 80 billion, 0.6 %). It was the 26th largest importer in the world (EUR 76 billion, 0.5 %) between South Africa (EUR 96 billion, 0.7 %) and Israel (EUR 68 billion, 0.5 %).

Figure 3a: Norway among the world's largest traders of goods, 2019
Source: Eurostat (ext_lt_introeu27_2020) and UNCTAD


Figure 3b: Top traders in goods with a focus on Norway, 2019 (EUR billion)
Source: Eurostat (ext_lt_introeu27_2020) and UNCTAD


The imports and exports of goods of the EU and Norway indexed at 100 in 2009 for the period to 2019 are shown in Figure 4. It also shows the cover ratio (exports / imports) for this period. Exports from the EU were lowest in 2009 (100) and highest in 2019 (180). Imports to the EU were lowest in 2009 (100) and highest in 2019 (163). The cover ratio for the EU was lowest in 2011 (97 %) and highest in 2016 (116 %) and was 110 % in 2019. Exports from Norway were lowest in 2016 (76) and highest in 2012 (138) and were 88 in 2019. Imports to Norway were lowest in 2009 (100) and highest in 2011 (132) and were 124 in 2019. The cover ratio for Norway was lowest in 2019 (120 %) and highest in 2012 (184 %).

Figure 4: Trade in goods of the EU and Norway, 2009 to 2019
Source: Eurostat (ext_lt_introeu27_2020) and UNCTAD

Exports to Norway increased but imports decreased between 2010 and 2020.

The position of Norway among the largest trade partners of the EU in 2020 can be seen in Figure 5a. The four largest export partners of the EU were the United States (18.3 %), the United Kingdom (14.4 %), China (10.5 %) and Switzerland (7.4 %). The four largest import partners of the EU were China (22.4 %), the United States (11.8 %), the United Kingdom (9.8 %) and Switzerland (6.3 %). Figure 5b has some more details. It shows that Norway (EUR 49 billion, 2.5 %) was the eighth largest export partner of the EU, between Japan (EUR 54 billion, 2.8 %) and South Korea (EUR 45 billion, 2.3 %). In imports Norway (EUR 42 billion, 2.5 %) was the ninth largest partner of the EU, between South Korea (EUR 44 billion, 2.6 %) and Vietnam (EUR 34 billion, 2.0 %).

Figure 5a: Norway among the EU's main partners for trade in goods, 2020
Source: Eurostat (ext_st_eu27_2020sitc) and Comext DS-018995


Figure 5b: Top trade in goods partners of the EU with a focus on Norway, 2020 (EUR billion)
Source: Eurostat (ext_st_eu27_2020sitc) and Comext DS-018995

Figure 6 shows the exports, imports and trade balance between the EU and Norway from 2010 to 2020. In 2010, the EU had a trade deficit with Norway of EUR 18 billion. This changed to a surplus in 2020 when it reached EUR 6.3 billion. Exports to Norway increased but imports decreased between 2010 and 2020. EU exports to Norway were highest in 2019 (EUR 52 billion) and lowest in 2010 (EUR 39 billion). EU imports from Norway were highest in 2012 (EUR 71 billion) and lowest in 2020 (EUR 42 billion).

Figure 6: EU trade in goods with Norway, 2010-2020 (EUR billion)
Source: Eurostat (ext_st_eu27_2020sitc) and Comext DS-018995

EU-Norway trade by type of goods

The breakdown of EU trade with Norway by SITC groups is shown in Figure 7. The red shades denote the primary products: food & drink, raw materials and energy, while the blue shades show the manufactured goods: chemicals, machinery & vehicles and other manufactured goods. Finally, other goods are shown in green. In 2020, EU exports of manufactured goods (81 %) had a higher share than primary goods (17 %). The most exported manufactured goods were machinery & vehicles (41 %), followed by other manufactured products (29 %) and chemicals (11 %). In 2020, EU imports of primary goods (55 %) had a higher share than manufactured goods (29 %). The most imported primary goods were energy (35 %), followed by food & drink (16 %) and raw materials (4 %).

Figure 7: EU trade with Norway by product group, 2010 and 2020 (EUR billion)
Source: Eurostat (ext_st_eu27_2020sitc) and Comext DS-018995


Figure 8 shows the evolution of EU imports and exports by SITC group since 2010. In 2020, the EU had trade surpluses in machinery & vehicles (EUR 16.9 billion), other manufactured products (EUR 7.8 billion), chemicals (EUR 2.3 billion) and raw materials (EUR 0.3 billion). The EU had trade deficits in food & drink (EUR 2.2 billion), other products (EUR 5.5 billion) and energy (EUR 13.3 billion).

Figure 8: EU trade with Norway by group, 2010-2020 (EUR billion)
Source: Eurostat (ext_st_eu27_2020sitc) and Comext DS-018995

EU-Norway most traded goods

More detail about the goods exchanged between the EU and Norway is given in Figure 9, showing the 20 most traded goods at SITC-3 level. These top 20 goods covered 40 % of total trade in goods in 2020. Nine belonged to machinery and vehicles, five to other manufactured products, four 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 9. Five products were below 50 %, indicating EU imports from Norway were at least twice as large as EU exports to Norway. 13 products were above 200 %, indicating EU exports to Norway were at least twice as large as EU imports from Norway. Two products were between 50 % and 200 %, showing more balanced trade.

Figure 9: Most traded products between EU and Norway, 2020 (EUR billion)
Source: Eurostat DS-018995

Trade with Norway by Member State

Table 1a shows the imports of goods from Norway by Member State. The three largest importers from Norway in the EU were Sweden (EUR 11 762 million), the Netherlands (EUR 10 633 million) and Germany (EUR 6 430 million). Sweden (27.8 %) had the highest share for Norway in its extra-EU imports.

Table 1a: EU imports of goods from Norway, 2020
Source: Eurostat (ext_st_eu27_2020sitc) and Comext DS-018995


Table 1b shows the exports of goods to Norway by Member State. The three largest exporters to Norway in the EU were Sweden (EUR 14 522 million), Germany (EUR 8 395 million) and Denmark (EUR 5 716 million). Sweden (22.3 %) had the highest share for Norway in its extra-EU exports.

Table 1b: EU exports of goods to Norway, 2020
Source: Eurostat (ext_st_eu27_2020sitc) and Comext DS-018995


The trade in goods balance between the EU Member States and Norway is shown in Table 1c. It shows that 21 Member States had a trade surplus with Norway. The largest surplus was held by Sweden (EUR 2 761 million), followed by Denmark (EUR 2 079 million) and Germany (EUR 1 965 million). There were six Member States that had a trade deficit with Norway. The largest deficit was held by the Netherlands (EUR 5 452 million), followed by Belgium (EUR 641 million) and Ireland (EUR 122 million).

Table 1c: EU trade balance of goods with Norway, 2020 (EUR million)
Source: Eurostat (ext_st_eu27_2020sitc) and Comext DS-018995

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.

The EU-27 data reflect the political change in the EU composition. Therefore the United Kingdom is considered as an extra-EU partner country for the EU-27. However, the United Kingdom is still part of the internal market until the end of the transitory period, meaning that data on trade with the United Kingdom are still based on statistical concepts applicable to trade between the EU Member States. As a consequence, while imports from any other extra-EU-27 trade partner are grouped by country of origin, the United Kingdom data reflect country of consignment. In practice this means that the goods imported by the EU-27 from the United Kingdom were physically transported from the United Kingdom but part of these goods could have been of other origin than the United Kingdom. For this reason data on trade with the United Kingdom are not fully comparable with data on trade with other extra-EU-27 trade partners.

Data for the non EU-27 countries used in figures 1-3 are taken from the UNCTAD database of the United Nations. For the calculation of shares, the 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: UNCTAD).

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 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.

Direct access to
Other articles
Tables
Database
Dedicated section
Publications
Methodology
Legislation
Visualisations
External links




International trade in goods - long-term indicators (t_ext_go_lti)
International trade in goods - short-term indicators (t_ext_go_sti)
International trade in goods - aggregated data (ext_go_agg)
International trade in goods - long-term indicators (ext_go_lti)
International trade in goods - short-term indicators (ext_go_sti)
International trade in goods - detailed data (detail)
EU trade since 1988 by SITC (DS-018995)