Norway (NOR) and Canada (CAN) Trade | The Observatory of Economic Complexity

About

Norway-Canada In 2022, Norway exported $1.07B to Canada. The main products that Norway exported to Canada are Crude Petroleum ($486M), Ferroalloys ($91.4M), and Fish Fillets ($84.3M). During the last 27 years the exports of Norway to Canada have decreased at an annualized rate of 1.55%, from $1.63B in 1995 to $1.07B in 2022.

In 2010, Norway exported services to Canada worth $1.17B, with Services not allocated ($584M), Other business services ($387M), and Transportation ($146M) being the largest in terms of value.

Canada-Norway In 2022, Canada exported $3.19B to Norway. The main products that Canada exported to Norway were Nickel Mattes ($1.99B), Precious Metal Scraps ($527M), and Cobalt ($163M). During the last 27 years the exports of Canada to Norway have increased at an annualized rate of 6.14%, from $638M in 1995 to $3.19B in 2022.

In 2020, Canada exported services to Norway worth $118M, with Transportation ($68.6M), Financial services ($26.1M), and Travel ($9.69M) being the largest in terms of value.

Comparison In 2022, Norway ranked 43 in the Economic Complexity Index (ECI 0.54), and 28 in total exports ($285B). That same year, Canada ranked 31 in the Economic Complexity Index (ECI 0.92), and 9 in total exports ($587B).

Latest Trends

March, 2024

About

Overview In March 2024, Norway exported NOK395M and imported NOK1.86B from Canada, resulting in a negative trade balance of NOK1.47B. Between March 2023 and March 2024 the exports of Norway have decreased by NOK-12.3M (-3.03%) from NOK408M to NOK395M, while imports decreased by NOK-3.09B (-62.4%) from NOK4.95B to NOK1.86B.

Trade In March 2024, the top exports of Norway to Canada were Fish (not marine mammals), crustaceans, molluscs... (NOK97.7M), Chemical materials and products, n.e.s. (NOK20.8M), Office machines and automatic data-processing machines (NOK12.9M), Professional, scientific and controlling instruments and... (NOK12.3M), and Plastics in non-primary forms (NOK12.3M). In March 2024 the top imports of Norway from Canada were Medicinal and pharmaceutical products (NOK32.4M), Power-generating machinery and equipment (NOK23.7M), Professional, scientific and controlling instruments and... (NOK23.5M), Other transport equipment (NOK23.2M), and General industrial machinery and equipment, n.e.s.,... (NOK20.7M).

Growth In March 2024, the decrease in Norway's year-by-year exports to Canada was explained primarily by an decrease in product exports in Petroleum, petroleum products and related materials (NOK-1.43B or -100%), Iron and steel (NOK-77.5M or -99.5%), and Miscellaneous manufactured articles, n.e.s. (NOK-5.51M or -80.4%). In March 2024, the decrease in Norway's year-by-year imports from Canada was explained primarily by an decrease in product imports in Metalliferous ores and metal scrap (NOK-1.9B or -100%), Oil-seeds and oleaginous fruits (NOK-172M or -100%), and Power-generating machinery and equipment (NOK-103M or -81.3%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (March 2023 - March 2024)NOK-12.3M(-3.03%)

IMPORT GROWTH (March 2023 - March 2024)NOK-3.09B(-62.4%)

This section shows exports and imports data at subnational level for Norway. Click any date in the line plot or any product to explore the exports or imports behavior of Norway over time.

To check Canada and Norway trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Norway exported $1.07B to Canada. The main products exported from Norway to Canada were Crude Petroleum ($486M), Ferroalloys ($91.4M), and Fish Fillets ($84.3M). During the last 27 years the exports of Norway to Canada have decreased at an annualized rate of 1.55%, from $1.63B in 1995 to $1.07B in 2022.

In 2022, Canada exported $3.19B to Norway. The main products exported from Canada to Norway were Nickel Mattes ($1.99B), Precious Metal Scraps ($527M), and Cobalt ($163M). During the last 27 years the exports of Canada to Norway have increased at an annualized rate of 6.14%, from $638M in 1995 to $3.19B in 2022.

Exports from Norway () to Canada () (2022)

Exports from Canada () to Norway () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Norway
Top DestinationGermany$78.1B

Canada
Top DestinationUnited States$438B

This map shows whether countries import more from Norway or Canada. Each country is colored based on the difference in imports they receive from Norway and Canada or the difference in the growth in imports.

In 2021, countries that imported more from Norway than Canada were Germany ($78.1B), United Kingdom ($59.1B), and France ($25.9B).

In 2021, countries that imported more from Canada than Norway were United States ($438B), China ($25.4B), and Japan ($14.3B).

Difference in imports from Canada () and Norway () (2022)

Comparative Advantage Norway - Canada

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Norway and Canada by product, considering products traded by both, Norway and Canada.

During 2022, Norway had a large net trade with Canada in the exports of Mineral Products ($519M), Animal Products ($151M), and Metals ($109M).

During 2022, Canada had a large net trade with Norway in the exports of Metals ($2.28B), Precious Metals ($528M), and Chemical Products ($98.7M).

Service Trade

Bilateral Service Trade

Can Year

Nor Year

In 2010, Norway exported services to Canada worth $1.17B, with Services not allocated ($584M), Other business services ($387M), and Transportation ($146M) being the largest in terms of value.

In 2020, Canada exported services to Norway worth $118M, with Transportation ($68.6M), Financial services ($26.1M), and Travel ($9.69M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Norway () to Canada () (2010)

Services Exports from Canada () to Norway () (2020)

Economic Complexity

Competitive Landscape

Year

This visualization show the product space at the HS4 level colored from blue to yellow. This mean that the more blue a dot/product is, the more Norway has comparative advantage over Canada. Similarly, the more yellow a dot/product is, the more Canada has comparative advantage over Norway.

About

Latest Trends

About

Latest Trade

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Historical Data

Bilateral Trade by Products

Exports from Norway () to Canada () (2022)

Exports from Canada () to Norway () (2022)

Market Competitiveness

Difference in imports from Canada () and Norway () (2022)

Comparative Advantage Norway - Canada

Service Trade

Bilateral Service Trade

Services Exports from Norway () to Canada () (2010)

Services Exports from Canada () to Norway () (2020)

Economic Complexity

Competitive Landscape

Product Space of Norway () and Canada () (2022)

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