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2022
Flag → Flag
Exports $20.3BRnk 4 / 209
2022
Flag → Flag
Top Product $18.8BPetroleum Gas
2022
Flag → Flag
Exports $2.25BRnk 30 / 222
2022
Flag → Flag
Top Product $782MCars
2022
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Economic Complexity (ECI) ECI 0.54Rnk 43 / 133
2022
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Economic Complexity (ECI) ECI 1.25Rnk 19 / 133
2022
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GDP$579BCURRENT US$
Rnk 24 / 186
2012-2022
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GDP GROWTH13%CURRENT US$
Rnk 141 / 186
2022
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 GDP$579BCURRENT US$
Rnk 25 / 186
2012-2022
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GDP GROWTH16.6%CURRENT US$
Rnk 131 / 186
2022
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GDP PC $106,149CURRENT US$
Rnk 3 / 186
2012-2022
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GDP PC GROWTH3.89%CURRENT US$
Rnk 131 / 186
2022
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GDP PC$49,583CURRENT US$
Rnk 19 / 186
2012-2022
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GDP PC GROWTH11%CURRENT US$
Rnk 112 / 186

About

Norway-Belgium Trade: In 2022, Norway exported $20.3B to Belgium. The main products that Norway exported to Belgium were Petroleum Gas ($18.8B), Refined Petroleum ($529M), and Acyclic Hydrocarbons ($154M). Over the past 5 years the exports of Norway to Belgium have increased at an annualized rate of 33.6%, from $4.77B in 2017 to $20.3B in 2022.

In 2009, Norway exported services to Belgium worth $1.53B, with Other business services ($753M), Transportation ($549M), and Computer and information services ($79.8M) being the largest in terms of value.

Belgium-Norway Trade: In 2022, Belgium exported $2.25B to Norway. The main products that Belgium exported to Norway were Cars ($782M), Halogens ($95M), and Vaccines, blood, antisera, toxins and cultures ($90.3M). Over the past 5 years the exports of Belgium to Norway have increased at an annualized rate of 11.1%,  from $1.33B in 2017 to $2.25B in 2022.

In 2020, Belgium exported services to Norway worth $509M, with Other business services ($211M), Transportation ($172M), and Insurance services ($46.8M) being the largest in terms of value.

Comparison: In 2022,  Norway ranked 43 in the Economic Complexity Index (ECI 0.54), and 28 in total exports ($285B). That same year, Belgium ranked 19 in the Economic Complexity Index (ECI 1.25), and 13 in total exports ($475B).

Latest Trends

September, 2024

About

Overview In September 2024, Norway exported NOK8.05B and imported NOK1.72B from Belgium, resulting in a positive trade balance of NOK6.33B. Between September 2023 and September 2024 the exports of Norway have increased by NOK2.45B (43.8%) from NOK5.6B to NOK8.05B, while imports decreased by NOK-434M (-20.1%) from NOK2.16B to NOK1.72B.

Trade In September 2024, the top exports of Norway to Belgium were Gas, natural and manufactured (NOK9.83B), Petroleum, petroleum products and related materials (NOK491M), Organic chemicals (NOK207M), Fish (not marine mammals), crustaceans, molluscs... (NOK86.5M), and Electrical machinery, apparatus and appliances, n.e.s.,... (NOK48M). In September 2024 the top imports of Norway from Belgium were Petroleum, petroleum products and related materials (NOK343M), Chemical materials and products, n.e.s. (NOK252M), Road vehicles (including air-cushion vehicles) (NOK225M), Fixed vegetable fats and oils, crude,... (NOK156M), and Medicinal and pharmaceutical products (NOK88.4M).

Growth In September 2024, the increase in Norway's year-by-year exports to Belgium was explained primarily by an increase in product exports in Petroleum, petroleum products and related materials (NOK303M or 161%), Organic chemicals (NOK121M or 141%), and Electrical machinery, apparatus and appliances, n.e.s.,... (NOK36.7M or 323%). In September 2024, the decrease in Norway's year-by-year imports  from Belgium was explained primarily by an decrease in product imports  in Medicinal and pharmaceutical products (NOK-88.6M or -50%), Iron and steel (NOK-11.7M or -65.1%), and Non-ferrous metals (NOK-11.6M or -56.6%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (September 2023 - September 2024)NOK2.45B(43.8%)
IMPORT GROWTH (September 2023 - September 2024)NOK-434M(-20.1%)

This section shows exports and imports data at subnational level for Norway. Click any date in the line plot or any product to explore the exports or imports behavior of Norway over time.

To check Belgium and Norway trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Belgium and Norway Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Norway exported $20.3B to Belgium. The main products exported from Norway to Belgium were Petroleum Gas ($18.8B), Refined Petroleum ($529M), and Acyclic Hydrocarbons ($154M). During the last 5 years the exports of Norway to Belgium have increased at an annualized rate of 33.6%, from $4.77B in 2017 to $20.3B in 2022.

In 2017, Belgium exported $2.25B to Norway. The main products exported from Belgium to Norway were Cars ($782M), Halogens ($95M), and Vaccines, blood, antisera, toxins and cultures ($90.3M). During the last 5 years the exports of Belgium to Norway have increased at an annualized rate of 11.1%, from $1.33B in 2022 to $2.25B in 2017.

Exports from Norway (Flag) to Belgium (Flag) (2022)

Exports from Belgium (Flag) to Norway (Flag) (2022)

Market Competitiveness

Color
Norway
Top DestinationGermany$78.1B
Belgium
Top DestinationGermany$91.9B

This map shows whether countries import more from Norway or Belgium. Each country is colored based on the difference in imports they receive from Norway and Belgium or the difference in the growth in imports.

In 2022, countries that imported more from Norway than Belgium included United Kingdom ($59.1B), Sweden ($17.7B), and Finland ($6.36B).

In 2022, countries that imported more from Belgium than Norway included Netherlands ($65.7B), France ($71.1B), and United States ($29B).

Difference in imports from Belgium (Flag) and Norway (Flag) (2022)

Comparative Advantage Norway - Belgium

Flow
Scale

This chart compares trade between Norway and Belgium by product, considering products traded by both, Norway and Belgium.

During 2022, Norway had a large net trade with Belgium in the exports of Mineral Products ($19.5B), Chemical Products ($231M), and Metals ($182M).

During 2017, Belgium had a large net trade with Norway in the exports of Transportation ($892M), Chemical Products ($453M), and Machines ($181M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Norway Belgium+$205MRefined Petroleum
Top Product Potential Belgium Norway+$97.7MRefined Petroleum

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

In 2009, Norway exported services to Belgium worth $1.53B, with Other business services ($753M), Transportation ($549M), and Computer and information services ($79.8M) being the largest in terms of value.

In 2020, Belgium exported services to Norway worth $509M, with Other business services ($211M), Transportation ($172M), and Insurance services ($46.8M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Norway (Flag) to Belgium (Flag) (2009)

Services Exports from Belgium (Flag) to Norway (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Norway and Belgium. This means that a dot/product with the flag of Norway indicates it has a comparative advantage over Belgium. Similarly, a dot/product with the flag of Belgium indicates it has a comparative advantage over Norway.

Product Space of Norway (Flag) and Belgium (Flag) (2022)

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