Based on the average exchange rate for 2021, the Norwegian krone has depreciated by -3.8% against the US dollar since 2017 but strengthened by 8.8% from 2020 to 2021. Norway’s stronger local currency compared to 2020 makes Norwegian imports paid for in weaker US dollars relatively less expensive when converted starting from the Norwegian krone.
Norway’s most valuable imported products include cars, refined petroleum oils, computers and phone devices including smartphones.
From a continental perspective, approaching two-thirds (63.3%) of Norway’s total imports by value in 2021 were purchased from fellow European countries. Trade partners in Asia supplied over a fifth (22.5%) of import purchases by Norway while 9.7% worth of goods originated from North America.
Smaller percentages came from exporters in Latin America (2.7%) excluding Mexico but including the Caribbean, Africa (1.1%) then Oceania (0.3%) led by Australia.
Given Norway’s population of 5.4 million people, its total $98.6 billion in 2021 imports translates to roughly $18,200 in yearly product demand from every person in the northernmost Scandinavian Peninsula country. That per-capita amount represents an increase over the average $15,100 for 2020.
Norway is not a member of the European Union.
Norway’s Top 10 Imports
The following product groups represent the highest dollar value in Norway’s import purchases during 2021. Also shown is the percentage share each product category represents in terms of overall imports into Norway.
- Vehicles: US$12.7 billion (12.9% of total imports)
- Machinery including computers: $12.4 billion (12.6%)
- Electrical machinery, equipment: $9.2 billion (9.3%)
- Mineral fuels including oil: $5.4 billion (5.5%)
- Articles of iron or steel: $4.4 billion (4.4%)
- Furniture, bedding, lighting, signs, prefabricated buildings: $3.4 billion (3.5%)
- Plastics, plastic articles: $3.2 billion (3.2%)
- Optical, technical, medical apparatus: $3.1 billion (3.2%)
- Pharmaceuticals: $2.9 billion (3%)
- Nickel: $2.4 billion (2.4%)
Norway’s top 10 imports accounted for 59.9% of the overall value of its product purchases from other countries.
Mineral fuels including oil posted the fastest growth in value among Norway’s top 10 import categories, up by 53.4% from 2020 to 2021. In second place for improving import purchases was the vehicles category via its 35.1% gain. Norwegian imports of plastic including articles made from plastic recorded the third-fastest gain via a 25.5% expansion.
The most modest gain was the 9.3% uptick for imported machinery including computers.
Please note that the results listed above are at the 2-digit Harmonized Tariff System code level. Information presented under other virtual folder tabs is at the more granular 4-digit level.
Norway’s Most Valuable Imported Vehicles Products
In 2021, Norwegian importers spent the most on the following 10 subcategories of road vehicles.
- Cars: US$8.4 billion (up 48.5% from 2020)
- Trucks: $1.5 billion (up 14.1%)
- Automobile parts/accessories: $995.9 million (up 17%)
- Trailers: $436.6 million (up 27.8%)
- Tractors: $417.3 million (up 38.2%)
- Motorcycles: $302.9 million (up 30.6%)
- Public-transport vehicles: $202.4 million (down -40.2%)
- Motorcycle parts/accessories: $105.7 million (up 24%)
- Special purpose vehicles: $97.5 million (down -8.6%)
- Bicycles, other non-motorized cycles: $79.1 million (up 22.5%)
Among these import subcategories, Norwegian purchases of cars (up 48.5%), tractors (up 38.2%) then motorcycles (up 30.6%) grew at the fastest pace from 2020 to 2021.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported vehicles among Norwegian businesses and consumers.
Norway’s Most Valuable Imported Machinery Including Computers
In 2021, Norwegian importers spent the most on the following 10 subcategories of machinery including computers.
- Computers, optical readers: US$2.2 billion (up 30.1% from 2020)
- Taps, valves, similar appliances: $876.4 million (down -2.9%)
- Miscellaneous machinery: $773.2 million (down -14.4%)
- Machinery parts: $747.3 million (up 5.3%)
- Turbo-jets: $622.7 million (down -5%)
- Heavy machinery (bulldozers, excavators, road rollers): $548.8 million (up 26.6%)
- Refrigerators, freezers: $422.3 million (up 19.3%)
- Centrifuges, filters and purifiers: $405.6 million (up 11.2%)
- Liquid pumps and elevators: $361.7 million (up 8.3%)
- Air or vacuum pumps: $343.6 million (up 17.1%)
Among these import subcategories, Norwegian purchases of computers including optical readers (up 30.1%), heavy machinery such as bulldozers, excavators and road rollers (up 26.6%) then refrigerators and freezers (up 19.3%) grew at the fastest pace from 2020 to 2021.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery including computers among Norwegian businesses and consumers.
Norway’s Most Valuable Imported Electronics Products
In 2021, Norwegian importers spent the most on the following 10 subcategories of electronics-related goods.
- Phone system devices: US$2.2 billion (up 11.5% from 2020)
- Insulated wire/cable: $725.4 million (up 20.2%)
- TV receivers/monitors/projectors: $678.2 million (up 14.8%)
- Electrical converters/power units: $534 million (up 5.1%)
- Lower-voltage switches, fuses: $473.3 million (up 13.6%)
- Electric water heaters, hair dryers: $449.4 million (up 29.7%)
- Microphones/headphones/amplifiers: $386.4 million (up 14.6%)
- Electric storage batteries: $294.9 million (up 40.7%)
- Electrical/optical circuit boards, panels: $293.6 million (up 1.8%)
- Carbon brushes, electrodes: $288.3 million (up 23.9%)
Among these import subcategories, Norwegian purchases of electric storage batteries (up 40.7%), electric water heaters and hair dryers (up 29.7%) then carbon brushes or electrodes (up 23.9%) grew at the fastest pace from 2020 to 2021.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported electronics-related goods among Norwegian businesses and consumers.
Norway’s Most Valuable Imported Mineral Fuels Products
In 2021, Norwegian importers spent the most on the following 10 subcategories of mineral fuels including oil and related products.
- Miscellaneous iron and steel structures: US$993.2 million (down -35.9% from 2020)
- Iron or steel tubes, pipes: $801.8 million (up 16.8%)
- Miscellaneous iron or steel items: $610.4 million (up 10.8%)
- Iron or steel pipe fittings: $248.9 million (down -11.2%)
- Iron and steel screws, bolts, nuts, washers: $240.2 million (down -3.9%)
- Miscellaneous iron or steel tubes, pipes: $223.6 million (down -15.1%)
- Iron and steel stoves, barbecues: $116.1 million (up 4.1%)
- Iron or steel chains: $76.3 million (up 11.6%)
- Iron and steel tables, household items: $63 million (up 5%)
- Iron and steel tubes, pipes: $62.5 million (down -40%)
Among these import subcategories, Norwegian purchases of electrical energy (up 788.9%), petroleum gases (up 272%) then petroleum oil residues (up 54.5%) grew at the fastest pace from 2020 to 2021.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported mineral fuels including oil plus related products among Norwegian businesses and consumers.
See also Norway’s Top Trading Partners, Norway’s Top 10 Exports and Top EU Import Countries
Research Sources:
Central Intelligence Agency, The World Factbook: Country Profiles. Accessed on March 24, 2022
Imported Consumer Products, Norway’s Top 100 Imported Consumer Products. Accessed on March 24, 2022
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on March 24, 2022
International Monetary Fund, Exchange Rates selected indicators (National Currency per U.S. dollar, period average). Accessed on March 24, 2022
International Trade Centre, Trade Map. Accessed on March 24, 2022
Wikipedia, Norway. Accessed on March 24, 2022
