FX.co ★ Norway’s Trade Surplus Narrows Sharply in February 2026 to NOK 44.8B

Norway’s trade balance posted a significant decline in February 2026, with the surplus narrowing to NOK 44.8 billion from NOK 75.8 billion in January 2026, according to the latest data updated on 16 March 2026. The figures point to a marked cooling in Norway’s external surplus over the month.

The February reading represents a substantial month-on-month drop in the headline trade balance, suggesting either softer export receipts, higher imports, or a combination of both compared with the strong January outcome. While the data do not break down the underlying drivers, the shift from NOK 75.8 billion to NOK 44.8 billion signals a notable easing in Norway’s net trade position.

Investors and policymakers will be watching subsequent releases closely to determine whether February’s weaker surplus is a temporary adjustment or the start of a broader trend in Norway’s trade performance. For now, the latest numbers highlight increased volatility in the country’s external accounts early in 2026.