Norway-United Kingdom Bilateral Trade Analysis 2023
Complete trade statistics: $37.22B total volume •Norway surplus: $28.60B
Norway → United Kingdom
$32.91B
Exports (2023)
United Kingdom → Norway
$4.31B
Imports (2023)
Trade Balance
$28.60B
Surplus for Norway
Total Trade
$37.22B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Norway and United Kingdom. Green line shows exports from Norway, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Norway-United Kingdom commercial relationship and competitive positioning in global markets.
Norway → United Kingdom Exports
Export Market Intelligence
🎯 Strategic Export Focus
Norway's export portfolio to United Kingdom demonstrates strong diversification across multiple sectors, with oils: petroleum oils and oils obtained from bituminous minerals, crude representing a key competitive advantage in this bilateral market.
United Kingdom → Norway Imports
Import Dependency Profile
📦 Import Strategy Analysis
Norway's import pattern from United Kingdom reveals significant dependencyin petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Norway demonstrates competitive strength in exportingoils: petroleum oils and oils obtained from bituminous minerals, crude to United Kingdom, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $37.22B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Norway-United Kingdom Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $37.22 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Norway maintains a surplus of $28.60 billion
- Export Focus: Norway's primary exports include oils: petroleum oils and oils obtained from bituminous minerals, crude, petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas, electrical energy
- Import Dependencies: Key imports from United Kingdom include petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, dog or cat food: (not put up for retail sale), used in animal feeding, fish: fresh or chilled, mackerel (scomber scombrus, scomber australasicus, scomber japonicus), excluding fillets, fish meat of 0304, and edible fish offal of subheadings 0302.91 to 0302.99
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents a significant global trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $37.22B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Norway leveraging its comparative advantages in oils: petroleum oils and oils obtained from bituminous minerals, crude.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Norway's specialization in oils: petroleum oils and oils obtained from bituminous minerals, crudecomplements United Kingdom's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $37.22B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $37.22B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $37.22 billion bilateral trade volume represents a significant economic factorfor both economies.
Industrial Integration
Trade flows in oils: petroleum oils and oils obtained from bituminous minerals, crude and petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Norway's trade surplus of $28.60 billion strengthens its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Norway and United Kingdom represents a total trade volume of $37.22 billion in 2023. This partnership demonstrates a favorable trade balance for Norway, with exports exceeding importsby $28.60 billion.
Export Strengths
Norway's exports to United Kingdom total $32.91 billion, with competitive advantages in oils: petroleum oils and oils obtained from bituminous minerals, crude, representing $13.78B or41.9% of bilateral exports.
Import Dependencies
Imports from United Kingdom amount to $4.31 billion, highlighting economic interdependence in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, with Petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils comprising8.7% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Norway's competitive position in this bilateral relationship. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Norway and United Kingdom in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023