Norway posted a trade surplus of NOK 44.8 billion in February 2026, down from NOK 80.9 billion in the same month a year earlier, as exports fell and imports increased. On an annual basis, exports dropped 20.9% to NOK 133.1 billion, primarily reflecting lower shipments of natural gas (-34.4%) and crude oil (-12.4%). By commodity group, exports declined notably for fuels, lubricating oils and electric power (-26.6%), animal and vegetable oils, fats and waxes (-6.3%), and machinery and transport equipment (-31.5%).
In contrast, imports rose 1.2% to NOK 88.3 billion, driven mainly by higher purchases of fuels, lubricating oils and electric power (21.7%), machinery and transport equipment (9.1%), and chemical products (3.2%), while imports of ships and oil platforms fell sharply by 35.8%.
Over the first two months of the year, Norway recorded a trade surplus of NOK 120.6 billion, a 30% decline from the same period a year earlier, as exports (-16.7%) contracted more sharply than imports (-3.4%).