Norway

Norway ranked No. 51 in total trade value through April with a total of $2.38 billion. Exports totaled $1.09 billion and Imports totaled $1.29 billion, a deficit of $207.51 million.

U.S. trade with Norway rose to $1.76 billion through March

Norway’s trade with the United States rose to $1.76 billion through the first three months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 31.91 percent below its total trade during the same time period last year. U.S. exports to Norway decreased 26.02 percent while U.S. imports from Norway fell 35.91 percent. The U.S. deficit with Norway was $211.71 million.

Through March, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Newark; No. 2 Port of Houston; No. 3 Cleveland’s Hopkins International Airport, Ohio; No. 4 John F. Kennedy International Airport; and No. 5 Port of Baltimore, Md.. During the same period the previous year, the top five were No. 1 Port of Houston No. 2 Port of Wilmington, Dela. No. 3 Port of Newark No. 4 Port of New Orleans and No. 5 John F. Kennedy International Airport. In the current time period, the top five accounted for 39.51 percent of Norway’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Newark fell 13.71 percent to $179.02 million.
    Exports fell 22.97 percent to $38.49 million. Imports fell 10.78 percent to $140.52 million.
  • Trade with No. 2 Port of Houston fell 53 percent to $174.53 million.
    Exports fell 52.91 percent to $108.41 million. Imports fell 53.15 percent to $66.11 million.
  • Trade with No. 3 Cleveland’s Hopkins International Airport, Ohio rose 21.82 percent to $130.28 million.
    Exports rose 8.55 percent to $91.14 million. Imports rose 70.27 percent to $39.13 million.
  • Trade with No. 4 John F. Kennedy International Airport fell 28.95 percent to $107.96 million.
    Exports fell 24.66 percent to $38.11 million. Imports fell 31.09 percent to $69.85 million.
  • Trade with No. 5 Port of Baltimore, Md. rose 23.15 percent to $104.97 million.
    Exports fell 81.44 percent to $2.25 million. Imports rose 40.49 percent to $102.72 million.

Norway ranked No. 52 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 45.

Meanwhile, total U.S. trade with the world increased to $964.77 billion, down 4.16 percent compared to the same period last year. The nation’s exports dropped 3.07 percent to $395.69 billion; imports dropped 4.91 percent to $569.09 billion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $173.4 billion, down compared to the same period of last year when the deficit was $190.25 billion.

The top five U.S. exports to Norway by value through March were the categories of Oil; Civilian aircraft, parts; Taps, cocks and valves for pipes, tanks; Low value shipments; and Acyclic hydrocarbons, respectively. They accounted for 34.01 percent of total exports to Norway.

The value of the top five categories of U.S. imports from Norway –– Fish fillets, chilled or frozen; Sutures, dental cements, etc.; Fish, fresh or chilled; Gasoline, other fuels; and Cobalt articles, including scrap –– accounted for 39.01 percent of all inbound shipments.

Looking more closely at U.S. exports to Norway:

  • Oil fell 62.08 percent compared to last year to $75.03 million.
  • Civilian aircraft, parts fell 38.69 percent compared to last year to $64.65 million.
  • Taps, cocks and valves for pipes, tanks rose 147.41 percent compared to last year to $50.15 million.
  • Low value shipments fell 29.27 percent compared to last year to $38.5 million.
  • Acyclic hydrocarbons fell 27.7 percent compared to last year to $35.54 million.

Looking more closely at U.S. imports from Norway:

  • Fish fillets, chilled or frozen fell 9.2 percent compared to last year to $121.58 million.
  • Sutures, dental cements, etc. rose 21.83 percent compared to last year to $90.09 million.
  • Fish, fresh or chilled rose 21.35 percent compared to last year to $70.58 million.
  • Gasoline, other fuels fell 74.97 percent compared to last year to $53.87 million.
  • Cobalt articles, including scrap rose 13.9 percent compared to last year to $49.12 million.

In the latest annual figures available, Norway recorded $10.38 billion in trade with the United States. Total U.S. exports to Norway were $ 3.87 billion and imports from Norway were $6.5 billion. The U.S. deficit with Norway was $2.63 billion.