FX.co ★ Norway’s Trade Surplus Narrows in May as External Balance Moderates

Norway’s trade surplus declined in May 2026, with the balance easing to 62.6B from 83.6B recorded in April 2026, according to data updated on 15 June 2026. The latest figures indicate a noticeable month-on-month narrowing in the country’s external surplus.

While Norway continues to post a strong positive trade balance, the May outcome suggests a moderation from the elevated levels seen in April. The shift in the surplus size may reflect changing conditions in export or import activity over the period, although specific drivers were not detailed in the latest release.

Analysts and market participants will likely watch upcoming data to assess whether May’s adjustment represents a temporary fluctuation or the start of a broader trend in Norway’s trade performance.