What are Norway’s imports and exports?
Norway Exports and Imports of Product Groups 2019
Norway Raw materials exports are worth US$ 41,586 million, product share of 39.98%. Norway Raw materials imports are worth US$ 5,816 million, product share of 6.75%. Norway Intermediate goods exports are worth US$ 13,639 million, product share of 13.11%.
What are Norway’s main imports?
The most recent imports of Norway are led by Cars ($5.5B), Refined Petroleum ($2.76B), Broadcasting Equipment ($1.81B), Petroleum Gas ($1.72B), and Crude Petroleum ($1.64B). The most common import partners for Norway are Sweden ($14.8B), Germany ($10.3B), China ($6.73B), Denmark ($5.8B), and United States ($5.3B).
What is Norway’s biggest exports?
Norway’s Top 5 Commodity Imports
- Refined Petroleum – $2.5 billion.
- Crude Petroleum – $1.6 billion.
- Iron Structures – $1.5 billion.
- Nickel Mattes – $1.3 billion.
- Aluminum Oxide – $875 million.
What are the top 3 Exports of Norway?
Searchable List of Norway’s Most Valuable Export Products
|Rank||Norwegian Export Product||2020 Value (US$)|
|3||Whole fish (fresh)||$7,100,087,000|
|4||Processed petroleum oils||$6,207,118,000|
What is Norway known for producing?
Norway is one of the world’s most prosperous countries, and oil and gas production account for 20 percent of its economy. Other important sectors include hydropower, fish, forests, and minerals. State revenues from petroleum are deposited in the world’s largest sovereign wealth fund.
What food does Norway export?
Most of Norway’s export is fresh and frozen fish, both in quantity and value. A large part of the value derives from salted, dried or smoked fish. The most valuable species are salmon and cod.
What are Norway main industries?
Experience, skill-sets, and technological advances developed on Norwegian continental shelf are utilised by global oil and gas industries. Other major industries in Norway include shipping, food processing, shipbuilding, the metal industry, chemicals, mining, fishing, and the pulp and paper production.
What does US export to Norway?
U.S. exports to Norway include aircraft, mineral fuels, vehicles, machinery, and optic and medical instruments. U.S. imports from Norway include mineral fuels, fish and seafood, machinery, and optical and medical instruments.
Why does Norway export most of its oil?
Norway is the third largest exporter of natural gas in the world, behind Russia and Qatar only. Norway supplies between 20 and 25 per cent of the EU gas demand. … This makes oil and gas the most important export commodities in the Norwegian economy.
What does Norway import from the US?
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. total imports of agricultural products from Norway totaled $104 million in 2019.
What countries trade with Norway?
Norway trade balance, exports and imports by country
In 2016, Norway major trading partner countries for exports were United Kingdom, Germany, Netherlands, France and Sweden and for imports they were Germany, Sweden, China, United States and Denmark.
What crops are grown in Norway?
The main crops are barley, oats and wheat. Potatoes are also grown, but no sugar beets. Most commercial productions of vegetables, fruit and berries take place in the southern and southwestern part of the country.
Does Norway buy gas from Russia?
In Brussels, Norway and its national oil and gas giant Statoil have gone to great lengths to make European technocrats and planners think of Norwegian gas as reliable, friendly and not at all like that supplied by Russian, the major supplier of gas to Europe – with a snarl of political strings attached.
Is Norway a net importer or exporter?
Norway used more energy than it produced domestically in 2019, making the country a net importer of power for the first time since 2010. Although Norway went from an exporting country to an importing country in terms of energy, the net quantity of electricity that was purchased was relatively small.
How much money does the US give Norway?
Norway is the ninth-largest donor country, spending US$4.2 billion on official development assistance (ODA) in 2020 (current prices; US$4.7 billion in 2019 constant prices). It is second-largest donor in proportion to the size of its economy: ODA stood at 1.11% of Norway’s gross national income (GNI).