Norway: Trade openness
* indicates monthly or quarterly data series
| Norway |
Trade openness: exports plus imports as percent of GDP |
|---|---|
| Latest value | 81.22 |
| Year | 2024 |
| Measure | percent |
| Data availability | 1970 - 2024 |
| Average | 71.55 |
| Min - Max | 64.27 - 82.61 |
| Source | The World Bank |
The latest value from 2024 is 81.22 percent, an increase from 80.36 percent in 2023. In comparison, the world average is 92.80 percent, based on data from 133 countries. Historically, the average for Norway from 1970 to 2024 is 71.55 percent. The minimum value, 64.27 percent, was reached in 1988 while the maximum of 82.61 percent was recorded in 2022.
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Definition: Exports plus imports as percent of GDP.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 123.40 | 2023 | percent |
| Trade openness | 81.22 | 2024 | percent |
| Financial openness | 2.290 | 2022 | index points |
| Exports, percent of GDP | 47.56 | 2024 | percent |
| Exports, billion dollars | 230.05 | 2024 | billion U.S. dollars |
| Growth of exports | 5.65 | 2024 | percent |
| Imports, percent of GDP | 33.66 | 2024 | percent |
| Imports, billion dollars | 162.84 | 2024 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | 0.85 | 2024 | percent |
| Foreign Direct Investment, billion dollars | 12.64 | 2024 | billion U.S. dollars |
| Portfolio investment inflows, equities | -7,251.86 | 2024 | million dollars (current) |
| Current account, percent of GDP | 14.82 | 2024 | percent |
| Trade balance, percent of GDP | 13.89 | 2024 | percent |
| Trade balance, in dollars | 64.79 | 2024 | billion U.S. dollars |
| Reserves | 81.24 | 2024 | billion U.S. dollars |
| Remittances, percent of GDP | 0.12 | 2023 | percent |
| Remittances | 621.07 | 2024 | million U.S. dollars |
| Net errors and omissions | -6,832.72 | 2024 | million USD |
| External debt | 151.89 | 2024 | percent |
| Short-term external debt | 35.83 | 2024 | percent |
| Short-term debt to reserves | 323.98 | 2024 | percent |