Norway

U.S.-Norway Trade Facts

U.S. goods and services trade with Norway totaled $15.5 billion in 2007 (latest data available). Exports totaled $6.1 billion; Imports totaled $9.4 billion. The U.S. goods and services trade deficit with Norway was $3.4 billion in 2007.

Norway is currently our 45th largest goods trading partner with $10.6 billion in total (two ways) goods trade during 2008. Goods exports totaled $3.3 billion; Goods imports totaled $7.3 billion. The U.S. goods trade deficit with Norway was $4.0 billion in 2008.

Trade in services with Norway (exports and imports) totaled $5.1 billion in 2007 (latest data available). Services exports were $3.0 billion; Services imports were $2.1 billion. The U.S. services trade surplus with Norway was $881 million in 2007.

Exports

Norway was the United States' 47th largest goods export market in 2008.

U.S. goods exports to Norway in 2008 were $3.3 billion, up 7.5% ($231 million) from 2007, and up 160% from 1994 (the year prior to Uruguay Round).

The top export categories (2-digit HS) in 2008 were: Machinery ($799 million), Optic and Aircraft ($545 million), Optic and Medical Instruments ($329 million), Inorganic Chemicals ($249 million), and Electrical Machinery ($240 million).

U.S. exports of agricultural products to Norway totaled $100 million in 2008. Leading categories include: coarse grains ($21 million) and processed fruit and vegetables ($19 million).

U.S. exports of private commercial services* (i.e., excluding military and government) to Norway were $3.0 billion in 2007 (latest data available), up 34.7% ($773 million) from 2007, and up 161% ($1.8 billion) from 1994 level. Other private services (business, professional, and technical services, and financial services), other transportation, and travel categories led U.S. services imports from Norway.

Imports

Norway was the United States' 40th largest supplier of goods imports in 2008.

U.S. goods imports from Norway totaled $7.3 billion in 2007, a 0.04% decrease ($3 million) from 2007, but up 208% over the last 14 years.

The five largest import categories in 2008 were: Mineral Fuel and Oil ($3.6 billion), Electrical Machinery ($539 million), Machinery ($420 million), Pharmaceutical Products ($294 million) and Organic Chemicals ($260 million).

U.S. imports of agricultural products from Norway totaled $55 million in 2008. The leading category was: cheese ($47 million).

U.S. imports of private commercial services * (i.e., excluding military and government) were $2.1 billion in 2007 (latest data available), up 3.1% ($64 million) from 2006, and up 79% ($933 million) from 1994 level. Other transportation category accounted for most of U.S. services imports from Norway.

Trade Balance

The U.S. goods trade deficit with Norway was $4.0 billion in 2008, a 5.5% decrease ($233 million) over 2007.

The United States has a services trade surplus of $881 million in 2007 (latest data available).

Investment

U.S. foreign direct investment (FDI) in Norway (stock) was $11.6 billion in 2007, a 12.8% increase from 2006.

U.S. direct investment in Norway is primarily concentrated in the mining and manufacturing sectors.

Norway FDI in the United States (stock) was $8.0 billion in 2007, down 25.9% from 2006.

The distribution of Norway's direct investment in the U.S. is led by the wholesale trade sector.

Sales of services in Norway by majority U.S.-owned affiliates were $4.9 billion in 2006 (latest data available), while sales of services in the United States by majority Norway-owned firms were $1.3 billion.