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Norway

U.S.-Norway Trade Facts

U.S. goods and services trade with Norway totaled an estimated $16.6 billion in 2017 (latest data available). Exports were $8.5 billion; imports were $8.1 billion. The U.S. goods and services trade surplus with Norway was $476 million in 2017.

Norway is currently our 43rd largest goods trading partner with $12.2 billion in total (two way) goods trade during 2018. Goods exports totaled $5.5 billion; goods imports totaled $6.7 billion. The U.S. goods trade deficit with Norway was $1.3 billion in 2018.

Trade in services with Norway (exports and imports) totaled an estimated $6.1 billion in 2017 (latest data available). Services exports were $3.1 billion; services imports were $3.0 billion. The U.S. services trade surplus with Norway was $74 million in 2017 (latest data available).

Exports

  • Norway was the United States' 43rd largest goods export market in 2018.
     
  • U.S. goods exports to Norway in 2018 were $5.5 billion, up 0.1% ($4 million) from 2017 and up 65.8% from 2008. 
     
  • The top export categories (2-digit HS) in 2018 were: aircraft ($1.2 billion), mineral fuels ($1.1 billion), vehicles ($910 million), machinery ($606 million), and optical and medical instruments ($295 million).
     
  • U.S. total exports of agricultural products to Norway totaled $89 million in 2018. Leading domestic export categories include: tree nuts ($25 million), processed fruit ($12 million), prepared food ($11 million), processed vegetables ($9 million), and wine & beer ($8 million).
     
  • U.S. exports of services to Norway were an estimated $3.1 billion in 2017 (latest data available), 1.6% ($48 million) more than 2016, and 9.7% greater than 2007 levels. Leading services exports from the U.S. to Norway were in the travel, transport, and financial services sectors.

Imports

  • Norway was the United States' 40th largest supplier of goods imports in 2018.
     
  • U.S. goods imports from Norway totaled $6.7 billion in 2018, up 33.5% ($1.7 billion) from 2017, but down 7.8% from 2008. 
     
  • The top import categories (2-digit HS) in 2018 were: mineral fuels ($2.9 billion), fish and seafood (fillets) ($838 million), machinery ($463 million), special other (returns) ($215 million), and optical and medical instruments ($210 million).
     
  • U.S. total imports of agricultural products from Norway totaled $96 million in 2018. Leading categories include: cheese ($39 million), feeds & fodders ($22 million), snack foods ($11 million), other dairy products ($6 million), and essential oils ($1 million).
     
  • U.S. imports of services from Norway were an estimated $3.0 billion in 2017 (latest data available), 11.1% ($302 million) more than 2016, and 128% greater than 2007 levels  Leading services imports from Norway to the U.S. were in the transpor, travel, and research and development sectors.

Trade Balance

  • The U.S. trade balance with Norway shifted from a goods trade surplus of $402 million in 2017 to a goods trade deficit of $1.3 billion in 2018.
     
  • The United States has a services trade surplus of an estimated $74 million with Norway in 2017 (latest data available), down 77.4% from 2016.
Investment
  • U.S. foreign direct investment (FDI) in Norway (stock) was $29.2 billion in 2017, a 0.1% decrease from 2016. U.S. direct investment in Norway is led by mining, information services, and manufacturing.
     
  • Norway's FDI in the United States (stock) was $26.0 billion in 2017, up 3.3% from 2016. There is no information on the distribution of Norway FDI in the U.S.
     
  • Sales of services in Norway by majority U.S.-owned affiliates were $5.8 billion in 2016 (latest data available), while sales of services in the United States by majority Norway-owned firms were $1.8 billion.