Norway Trade Surplus Narrows in May

Norway’s trade surplus narrowed to NOK 46.1 billion in May 2025 from NOK 52.3 billion in the same month last year, as exports declined more than imports. Exports dropped by 7.4% year-on-year to NOK 138.2 billion, dragged mainly by lower sales of mineral fuels, lubricants and related materials (-10.9%), food and live animals (-1.8%), and manufactured goods classified chiefly by material (-9.3%). Meanwhile, imports fell by 5% to NOK 92.1 billion, largely due to reduced purchases of manufactured goods classified chiefly by material (-13.6%) and chemicals and related products n.e.s. (-1.4%). For the first five months of the year, the country’s trade surplus totaled NOK 333.8 billion, marking a 13.8% growth compared to the corresponding period a year ago.