Norway

Norway ranked No. 49 in total trade value through June with a total of $3.48 billion. Exports totaled $1.46 billion and Imports totaled $2.02 billion, a deficit of $561.17 million.

U.S. trade with Norway rose to $3.48 billion through June

Norway’s trade with the United States rose to $3.48 billion through the first six months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 40.41 percent below its total trade during the same time period last year. U.S. exports to Norway decreased 31.99 percent while U.S. imports from Norway fell 45.3 percent. The U.S. deficit with Norway was $561.17 million.

Through June, 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 New Orleans. During the same period the previous year, the top five were No. 1 Port of Wilmington, Dela.; No. 2 Port of Houston; 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 39.95 percent of Norway’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Newark fell 13.43 percent to $437.52 million.
    Exports fell 33.64 percent to $58.02 million. Imports fell 9.2 percent to $379.5 million.
  • Trade with No. 2 Port of Houston fell 56.78 percent to $293.01 million.
    Exports fell 62.57 percent to $165.87 million. Imports fell 45.85 percent to $127.14 million.
  • Trade with No. 3 Cleveland’s Hopkins International Airport, Ohio rose 24.15 percent to $257.93 million.
    Exports rose 1.22 percent to $162.44 million. Imports rose 101.96 percent to $95.48 million.
  • Trade with No. 4 John F. Kennedy International Airport fell 23.73 percent to $225.4 million.
    Exports fell 17.64 percent to $88 million. Imports fell 27.18 percent to $137.4 million.
  • Trade with No. 5 Port of New Orleans fell 42.14 percent to $175.24 million.
    Exports fell 22.21 percent to $99.5 million. Imports fell 56.71 percent to $75.73 million.

Norway ranked No. 49 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 44.

Meanwhile, total U.S. trade with the world increased to $1.77 trillion, down 57.4 percent compared to the same period last year. The nation’s exports dropped 58.23 percent to $687.16 billion; imports dropped 56.85 percent to $1.08 trillion. The nation’s top five countries so far this year, by value, are Canada; Mexico; China; Japan and Germany. The overall trade deficit was $391.01 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Norway by value through June were the categories of Civilian aircraft, parts; Antennas for radio, TV, parts; Low value shipments; Oil; and Acyclic hydrocarbons, respectively. They accounted for 28.3 percent of total exports to Norway.

The value of the top five categories of U.S. imports from Norway –– Fish fillets, chilled or frozen; Gasoline, other fuels; Sutures, dental cements, etc.; Oil; and Fish, fresh or chilled –– accounted for 37.15 percent of all inbound shipments.

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

  • Civilian aircraft, parts fell 72.53 percent compared to last year to $99.64 million.
  • Antennas for radio, TV, parts rose 555.36 percent compared to last year to $90.1 million.
  • Low value shipments fell 27 percent compared to last year to $75.38 million.
  • Oil fell 81.32 percent compared to last year to $75.03 million.
  • Acyclic hydrocarbons fell 2.44 percent compared to last year to $72.42 million.

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

  • Fish fillets, chilled or frozen fell 5.97 percent compared to last year to $251.52 million.
  • Gasoline, other fuels fell 78.44 percent compared to last year to $146.64 million.
  • Sutures, dental cements, etc. fell 17.27 percent compared to last year to $143.37 million.
  • Oil fell 88.86 percent compared to last year to $105.17 million.
  • Fish, fresh or chilled fell 5.49 percent compared to last year to $103.3 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.