Norway’s Top 10 Imports 2020

Norway’s Top 10 Imports 2020




Norwegian flag (courtesy of FlagPictures.org)Norwegian flag (FlagPictures)A Nordic nation in northwestern Europe that shares its long eastern border with Sweden, the Kingdom of Norway’s imports cost a total US$81.4 billion in 2020. That dollar amount reflects a 12.1% increase since 2016 but an -5.2% drop from 2019 to 2020.

Based on the average exchange rate for 2020, the Norwegian krone has depreciated by -12.1% against the US dollar since 2016 and declined by -7% from 2019 to 2020. Norway’s weaker local money makes Norwegian imports paid for in stronger US dollars comparatively more expensive when converted starting from the Norwegian krone.

From a continental perspective, approaching two-thirds (63.9%) of Norway’s total imports by value in 2020 were purchased from fellow European countries. Trade partners in Asia supplied over a fifth (21.9%) of import purchases by Norway while 9.6% worth of goods originated from North America. Smaller percentages came from exporters in Latin America (2.6%) excluding Mexico but including the Caribbean, Africa (1.6%) then Oceania (0.3%) led by Australia

Given Norway’s population of 5.4 million people, its total $81.4 billion in 2020 imports translates to approximately $15,100 in yearly product need from every person in the northernmost Scandinavian Peninsula country. Norway is not a member of the European Union.

Top 10

The following product groups represent the highest dollar value in Norway’s import purchases during 2020. Also shown is the percentage proportion each product category represents in terms of overall imports into Norway.

  1. Machinery including computers: US$11.3 billion (13.9% of total imports)
  2. Vehicles: $9.5 billion (11.6%)
  3. Electrical machinery, equipment: $8.1 billion (9.9%)
  4. Articles of iron or steel: $3.9 billion (4.8%)
  5. Mineral fuels including oil: $3.5 billion (4.3%)
  6. Furniture, bedding, lighting, signs, prefabricated buildings: $2.9 billion (3.5%)
  7. Optical, technical, medical apparatus: $2.8 billion (3.4%)
  8. Plastics, plastic articles: $2.5 billion (3.1%)
  9. Pharmaceuticals: $2.4 billion (2.9%)
  10. Nickel: $2 billion (2.4%)

Norway’s top 10 imports accounted for 60% of the overall value of its product purchases from other countries.

Nickel posted the fastest-growth in value among Norway’s top 10 import categories, up 12.6% from 2019 to 2020. In second place for improving import purchases was the pharmaceuticals category via its 5.9% gain. Norwegian imports of plastic including articles made from plastic recorded the third-fastest gain up 1.7%.

Leading Norway’s declining top categories were imported articles made from iron or steel (down -12%) trailing mineral fuels including oil (down -36.2%).

Please observe 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.

Machines

In 2020, Norwegian importers spent the most on the following 10 subcategories of machinery including computers.

  1. Computers, optical readers: US$1.7 billion (up 2.8% from 2019)
  2. Miscellaneous machinery: $901.6 million (up 7.6%)
  3. Taps, valves, similar appliances: $901.1 million (up 0.6%)
  4. Machinery parts: $709.1 million (down -7.5%)
  5. Turbo-jets: $650 million (down -17.3%)
  6. Heavy machinery (bulldozers, excavators, road rollers): $432.2 million (down -26.1%)
  7. Centrifuges, filters and purifiers: $364.2 million (down -2.2%)
  8. Refrigerators, freezers: $354.8 million (down -2.2%)
  9. Miscellaneous engines, motors: $338.2 million (up 92.2%)
  10. Liquid pumps and elevators: $333.0 million (down -4.1%)

Among these import subcategories, Norwegian purchases of miscellaneous engines and motors (up 92.2%), miscellaneous machinery (up 7.6%) then computers including optical readers (up 2.8%) grew at the fastest speed from 2019 to 2020.

These amounts and the percentage gains within parenthesis clearly show where the strongest need lies for different types of imported machinery including computers among Norwegian businesses and consumers.

Vehicles

In 2020, Norwegian importers spent the most on the following 10 subcategories of road vehicles.

  1. Cars: US$5.8 billion (down -2% from 2019)
  2. Trucks: $1.3 billion (down -19.1%)
  3. Automobile parts/accessories: $852.2 million (down -4%)
  4. Trailers: $340.2 million (down -13.9%)
  5. Public-transport vehicles: $334.7 million (down -44.2%)
  6. Tractors: $305.1 million (down -17%)
  7. Motorcycles: $228.7 million (up 14.7%)
  8. Special purpose vehicles: $106.4 million (down -19.9%)
  9. Motorcycle parts/accessories: $84.8 million (up 2%)
  10. Bicycles, other non-motorized cycles: $63.6 million (down -19.1%)

Among these import subcategories, Norwegian purchases of motorcycles (up 14.7%) and motorcycle parts or accessories (up 2%) grew from 2019 to 2020.

These amounts and the percentage gains within parenthesis clearly show where the strongest need lies for different types of imported vehicles among Norwegian businesses and consumers.

Electronics

In 2020, Norwegian importers spent the most on the following 10 subcategories of electronics-related goods.

  1. Phone system devices including smartphones: US$1.9 billion (down -2.8% from 2019)
  2. Insulated wire/cable: $601.6 million (down -0.5%)
  3. TV receivers/monitors/projectors: $595.2 million (up 4.0%)
  4. Electrical converters/strength units: $508.1 million (up 12.4%)
  5. Lower-voltage switches, fuses: $417.1 million (up 1.2%)
  6. Electric water heaters, hair dryers: $349.0 million (up 3.6%)
  7. Microphones/headphones/amps: $340.8 million (up 3.9%)
  8. Electric generating sets, converters: $330.5 million (down -60.8%)
  9. Electrical/optical circuit boards, panels: $287.9 million (up 4.7%)
  10. Carbon electrodes, brushes: $230.6 million (down -25.6%)

Among these import subcategories, Norwegian purchases of electrical converters and strength units (up 12.4%), electrical and optical circuit boards or panels (up 4.7%) then TV receivers, monitors and projectors (up 4%) grew at the fastest speed from 2019 to 2020.

These amounts and the percentage gains within parenthesis clearly show where the strongest need lies for different types of imported electronics-related goods among Norwegian businesses and consumers.

Iron

In 2020, Norwegian importers spent the most on the following 10 subcategories of articles made from iron or steel.

  1. Miscellaneous iron and steel structures: US$993.2 million (down -35.9% from 2019)
  2. Iron or steel tubes, pipes: $801.8 million (up 16.8%)
  3. Miscellaneous iron or steel items: $610.4 million (up 10.8%)
  4. Iron or steel pipe fittings: $248.9 million (down -11.2%)
  5. Iron and steel screws, bolts, nuts, washers: $240.2 million (down -3.9%)
  6. Miscellaneous iron or steel tubes, pipes: $223.6 million (down -15.1%)
  7. Iron and steel stoves, barbecues: $116.1 million (up 4.1%)
  8. Iron or steel chains: $76.3 million (up 11.6%)
  9. Iron and steel tables, household items: $63 million (up 5%)
  10. Iron and steel tubes, pipes: $62.5 million (down -40%)

Among these import subcategories, Norwegian purchases of iron or steel tubes and pipes (up 16.8%), iron or steel chains (up 11.6%) then miscellaneous iron or steel items (up 10.8%) grew at the fastest speed from 2019 to 2020.

These amounts and the percentage gains within parenthesis clearly show where the strongest need lies for different types of imported iron and steel items among Norwegian businesses and consumers.

 

See also Norway’s Top Trading Partners, Norway’s Top 10 Exports and Top EU Import Countries

Research supplies:
Central Intelligence Agency, The World Factbook: Country Profiles. Accessed on December 16, 2021

Imported Consumer Products, Norway’s Top 100 Imported Consumer Products. Accessed on December 16, 2021

International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing strength Parity). Accessed on December 16, 2021

International Monetary Fund, Exchange Rates chosen indicators (National money per U.S. dollar, period average). Accessed on December 16, 2021

International Trade Centre, Trade Map. Accessed on December 16, 2021

Wikipedia, Norway. Accessed on December 16, 2021

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