Year over year, the total cost of Norwegian imported products rose 8% from $98.6 billion in 2021.
Based on the average exchange rate for 2022, the Norwegian krone has depreciated by -18.2% against the US dollar since 2018 and fell by -11.9% from 2021 to 2022. Norway’s weaker local currency made Norwegian imports paid for in stronger US dollars relatively more expensive when converted starting from the Norwegian krone.
Domestically, Norway’s inflation rate for average consumer prices was 4.7% in 2022 according to the International Monetary Fund.
Norway’s Best Suppliers for its Imports
The latest available country-specific data shows that 70.8% of products imported into Norway were supplied by exporters in: Sweden (35.6% of the Norwegian global total), mainland China (7.5%), Germany (5.2%), United States of America (5.1%), Denmark (4%), United Kingdom (2.8%), Netherlands (2.7%), Poland (2.2%), Canada (also 2.2%), France (1.8%), Italy (1.7%) and Finland (1.3%).
From a continental perspective, approaching two-thirds (63.3%) of Norway’s total imports by value in 2022 were purchased from fellow European countries. Trade partners in Asia supplied over a fifth (22.4%) of import purchases by Norway while another 9.7% worth of goods originated from North America.
Smaller percentages came from exporters in Latin America (2.9%) excluding Mexico but including the Caribbean, Africa (1.3%), then Oceania (0.3%) led by Australia.
Given Norway’s population of 5.45 million people, its total $106.6 billion in 2022 imports translates to roughly $19,600 in yearly product demand from every person in the northernmost Scandinavian Peninsula country. That per-capita amount exceeds the average $18,200 for 2021.
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 2022. Also shown is the percentage share each product category represents in terms of overall imports into Norway.
- Vehicles: US$12.9 billion (12.1% of total imports)
- Machinery including computers: $11.9 billion (11.2%)
- Mineral fuels including oil: $11 billion (10.3%)
- Electrical machinery, equipment: $9.4 billion (8.8%)
- Articles of iron or steel: $4.3 billion (4%)
- Furniture, bedding, lighting, signs, prefabricated buildings: $3.3 billion (3.1%)
- Nickel: $3.2 billion (3%)
- Plastics, plastic articles: $3.1 billion (2.9%)
- Optical, technical, medical apparatus: $3 billion (2.8%)
- Pharmaceuticals: $2.8 billion (2.6%)
Norway’s top 10 imports accounted for about three-fifths (60.9%) of the overall value of its product purchases from other countries.
Mineral fuels including oil posted the fastest growth in spending among Norway’s top 10 import categories, up by 102.4% from 2021 to 2022.
In second place for expanding import purchases was the nickel product category via its 35.3% gain. Norwegian imports of electrical machinery and equipment recorded the third-fastest gain via a 25.5% expansion.
The severest declines were the -4.8% reductions for imported pharmaceuticals as well as the optical, technical and medical apparatus product categories.
At the more granular 4-digit level, Norwegian importers spent the most on the following commodities: imported cars, processed petroleum oils, nickel, electrical energy, phone devices including smartphones, computers, medication mixes in dosage, trucks, miscellaneous iron or steel structures, and miscellaneous furniture.
More details about major import product categories are presented in the sections below.
Norway’s Most Valuable Imported Vehicles Products
In 2022, Norwegian importers spent the most on the following 10 subcategories of road vehicles.
- Cars: US$8.7 billion (up 2.9% from 2021)
- Trucks: $1.5 billion (up 1.8%)
- Automobile parts/accessories: $943.7 million (down -5.2%)
- Trailers: $465.5 million (up 6.8%)
- Tractors: $399.6 million (down -4.3%)
- Motorcycles: $263.8 million (down -12.6%)
- Public-transport vehicles: $200 million (down -0.2%)
- Special purpose vehicles: $114 million (up 17.5%)
- Motorcycle parts/accessories: $104 million (down -1.5%)
- Bicycles, other non-motorized cycles: $89.4 million (up 13.2%)
Among these import subcategories, Norwegian purchases of special purpose vehicles (up 17.5%), bicycles plus other non-motorized cycles (up 13.2%) then trailers (up 6.8%) grew at the fastest pace from 2021 to 2022.
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 2022, Norwegian importers spent the most on the following 10 subcategories of machinery including computers.
- Computers, optical readers: US$2 billion (down -6.2% from 2021)
- Taps, valves, similar appliances: $886.7 million (up 1.3%)
- Machinery parts: $790.1 million (up 5.7%)
- Miscellaneous machinery: $707.1 million (down -8.4%)
- Heavy machinery (bulldozers, excavators, road rollers): $608.3 million (up 10.8%)
- Turbo-jets: $517 million (down -17.1%)
- Centrifuges, filters and purifiers: $413.9 million (up 1.9%)
- Refrigerators, freezers: $399.5 million (down -5.4%)
- Liquid pumps and elevators: $357.1 million (down -1.5%)
- Lifting/loading machinery: $309.7 million (down -0.1%)
Among these import subcategories, Norwegian purchases of heavy machinery including bulldozers, excavators and road rollers (up 10.8%), machinery parts (up 5.7%) then centrifuges, filters and purifiers (up 1.9%) grew at the fastest pace from 2021 to 2022.
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 Mineral Fuels Products
In 2022, Norwegian importers spent the most on the following 10 subcategories of mineral fuels including oil and related products.
- Processed petroleum oils: US$7 billion (up 142.1% from 2021)
- Electrical energy: $2.3 billion (up 276.3%)
- Petroleum oil residues: $472.9 million (up 34%)
- Crude oil: $453.6 million (down -60.7%)
- Coal, solid fuels made from coal: $283.6 million (up 160.4%)
- Coke, semi-coke: $232.5 million (up 96.7%)
- Tar pitch, coke: $146.7 million (up 66.6%)
- Petroleum gases: $53.3 million (down -14%)
- Petroleum jelly, mineral waxes: $10.4 million (up 15.6%)
- Coal tar oils (high temperature distillation): $8.8 million (up 12.9%)
Among these import subcategories, Norwegian purchases of electrical energy (up 276.3%), coal including solid fuels made from coal (up 160.4%) then processed petroleum oils (up 142.1%) grew at the fastest pace from 2021 to 2022.
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.
Norway’s Most Valuable Imported Electronics Products
In 2022, Norwegian importers spent the most on the following 10 subcategories of electronics-related goods.
- Phone devices including smartphones: US$2.2 billion (up 1.6% from 2021)
- Insulated wire/cable: $791.3 million (up 9.1%)
- Electrical converters/power units: $638.3 million (up 19.2%)
- TV receivers/monitors/projectors: $589.4 million (down -13.3%)
- Carbon electrodes, brushes, lamp carbons: $503 million (up 74.3%)
- Lower-voltage switches, fuses: $479.2 million (up 1.2%)
- Electric water heaters, hair dryers: $405.1 million (down -10%)
- Microphones/headphones/amps: $350.2 million (down -9.7%)
- Electric storage batteries: $341.9 million (up 15.8%)
- Electrical/optical circuit boards, panels: $305.1 million (up 3.8%)
Among these import subcategories, Norwegian purchases of carbon electrodes, carbon brushes and lamp carbons (up 74.3%), electrical converters or power units (up 19.2%) then electric storage batteries (up 15.8%) grew at the fastest pace from 2021 to 2022.
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.
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 April 6, 2023
Imported Consumer Products, Norway’s Top 100 Imported Consumer Products. Accessed on April 6, 2023
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on April 6, 2023
International Monetary Fund, Exchange Rates selected indicators (National Currency per U.S. dollar, period average). Accessed on April 6, 2023
International Trade Centre, Trade Map. Accessed on April 6, 2023
Wikipedia, Norway. Accessed on April 6, 2023