FX.co ★ Norway Trade Surplus Narrows in Apr

In April 2025, Norway's trade surplus decreased to NOK 55.9 billion, down from NOK 61.7 billion in April of the previous year, driven by a greater decline in exports compared to imports. Imports saw a 5.3% year-on-year reduction, amounting to NOK 90.3 billion, primarily due to decreased acquisitions of fuels, lubricating oils, electric power (-49.1%), beverages and tobacco (-7.7%), and processed goods categorized mostly by material (-5.5%). In contrast, exports experienced a sharper 7.3% decline to hit a seven-month low of NOK 146.2 billion. This downturn was largely attributable to reduced sales in beverages and tobacco (-16.1%), fuels, lubricating oils, electric power (-13.5%), animal and vegetable oils, fats and waxes (-13%), and non-edible raw materials excluding fuels (-10.5%). Over the first four months of 2025, the nation's total trade surplus reached NOK 292 billion, reflecting a 19.1% growth compared to the same timeframe the previous year.