2022
Flag  
GDP
$579BCURRENT US$
Rnk 24 / 186
2012-2022
Flag
GDP GROWTH
13%CURRENT US$
Rnk 141 / 186
2022
Flag
 GDP
$4BCURRENT US$
Rnk 155 / 186
2012-2022
Flag
GDP GROWTH
43.3%CURRENT US$
Rnk 80 / 186
2022
Flag
GDP PC 
$106,149CURRENT US$
Rnk 3 / 186
2012-2022
Flag
GDP PC GROWTH
3.89%CURRENT US$
Rnk 131 / 186
2022
Flag
GDP PC
$755CURRENT US$
Rnk 176 / 186
2012-2022
Flag
GDP PC GROWTH
17.1%CURRENT US$
Rnk 96 / 186

About

Norway-Liberia Trade: In 2022, Norway exported $1.08M to Liberia. The main products that Norway exported to Liberia were Compasses ($310k), Non-fillet Frozen Fish ($226k), and Cars ($94.5k). Over the past 5 years the exports of Norway to Liberia have decreased at an annualized rate of 43.6%, from $18.9M in 2017 to $1.08M in 2022.

In 2022, Norway did not export any services to Liberia.

Liberia-Norway Trade: In 2022, Liberia exported $156k to Norway. The main products that Liberia exported to Norway were Polyacetals ($73.7k), Raw Plastic Sheeting ($60.9k), and Rolled Tobacco ($6.26k). Over the past 5 years the exports of Liberia to Norway have increased at an annualized rate of 70.8%,  from $10.7k in 2017 to $156k in 2022.

In 2022, Liberia did not export any services to Norway.

Comparison: In 2022,  Norway ranked 43 in the Economic Complexity Index (ECI 0.54), and 28 in total exports ($285B). That same year, Liberia ranked 128 in the Economic Complexity Index (ECI -1.72), and 144 in total exports ($1.96B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Norway exported $1.08M to Liberia. The main products exported from Norway to Liberia were Compasses ($310k), Non-fillet Frozen Fish ($226k), and Cars ($94.5k). During the last 5 years the exports of Norway to Liberia have decreased at an annualized rate of 43.6%, from $18.9M in 2017 to $1.08M in 2022.

In 2017, Liberia exported $156k to Norway. The main products exported from Liberia to Norway were Polyacetals ($73.7k), Raw Plastic Sheeting ($60.9k), and Rolled Tobacco ($6.26k). During the last 5 years the exports of Liberia to Norway have increased at an annualized rate of 70.8%, from $10.7k in 2022 to $156k in 2017.

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

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

Market Competitiveness

Color
Norway
Top Destination
Germany$78.1B
Liberia
Top Destination
Switzerland$544M

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

In 2022, countries that imported more from Norway than Liberia included Germany ($78.1B), United Kingdom ($59.1B), and France ($25.9B).

In 2022, countries that imported more from Liberia than Norway included Lebanon ($106M), Rwanda ($18.2M), and Tanzania ($41.5M).

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

Comparative Advantage Norway - Liberia

Flow
Scale

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

During 2022, Norway had a large net trade with Liberia in the exports of Instruments ($370k), Animal Products ($267k), and Machines ($257k).

During 2017, Liberia had a large net trade with Norway in the exports of Plastics and Rubbers ($135k), Machines ($6.34k), and Foodstuffs ($6.26k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Norway Liberia+$121kNon-fillet Frozen Fish
Top Product Potential Liberia Norway+$16.2kRaw Plastic Sheeting

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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Economic Complexity

Competitive Landscape

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

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

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