Norway (NOR) and Austria (AUT) Trade | The Observatory of Economic Complexity

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Norway-Austria Trade: In 2022, Norway exported $374M to Austria. The main products that Norway exported to Austria were Raw Aluminium ($264M), Other Uncoated Paper ($14.9M), and Non-fillet Fresh Fish ($8.53M). Over the past 5 years the exports of Norway to Austria have increased at an annualized rate of 2.46%, from $331M in 2017 to $374M in 2022.

In 2009, Norway exported services to Austria worth $229M, with Computer and information services ($91.6M), Travel ($60.9M), and Other business services ($40M) being the largest in terms of value.

Austria-Norway Trade: In 2022, Austria exported $691M to Norway. The main products that Austria exported to Norway were Vaccines, blood, antisera, toxins and cultures ($31.5M), Other Small Iron Pipes ($26.5M), and Delivery Trucks ($25.5M). Over the past 5 years the exports of Austria to Norway have increased at an annualized rate of 3.87%, from $572M in 2017 to $691M in 2022.

In 2020, Austria exported services to Norway worth $242M, with Transportation ($62.8M), Other business services ($58.3M), and Computer and information 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, Austria ranked 8 in the Economic Complexity Index (ECI 1.5), and 32 in total exports ($209B).

Latest Trends

July, 2024

About

Overview In July 2024, Norway exported NOK327M and imported NOK527M from Austria, resulting in a negative trade balance of NOK200M. Between July 2023 and July 2024 the exports of Norway have decreased by NOK-52.1M (-13.7%) from NOK379M to NOK327M, while imports decreased by NOK-61.8M (-10.5%) from NOK589M to NOK527M.

Trade In July 2024, the top exports of Norway to Austria were Non-ferrous metals (NOK78.6M), Paper, paperboard and articles of paper... (NOK23.5M), Medicinal and pharmaceutical products (NOK15.9M), Fish (not marine mammals), crustaceans, molluscs... (NOK10.9M), and Plastics in primary forms (NOK10.4M). In July 2024 the top imports of Norway from Austria were Medicinal and pharmaceutical products (NOK73.4M), Road vehicles (including air-cushion vehicles) (NOK62.2M), Machinery specialized for particular industries (NOK53.3M), General industrial machinery and equipment, n.e.s.,... (NOK50.3M), and Manufactures of metals, n.e.s. (NOK36M).

Growth In July 2024, the decrease in Norway's year-by-year exports to Austria was explained primarily by an decrease in product exports in Non-ferrous metals (NOK-167M or -68%), Furniture, and parts thereof; bedding, mattresses,... (NOK-3.2M or -77.9%), and Office machines and automatic data-processing machines (NOK-1.91M or -66.4%). In July 2024, the decrease in Norway's year-by-year imports from Austria was explained primarily by an decrease in product imports in Other transport equipment (NOK-35.5M or -77.2%), Iron and steel (NOK-33.9M or -80.5%), and Power-generating machinery and equipment (NOK-27.4M or -75.4%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (July 2023 - July 2024)NOK-52.1M(-13.7%)

IMPORT GROWTH (July 2023 - July 2024)NOK-61.8M(-10.5%)

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 Austria and Norway trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Norway exported $374M to Austria. The main products exported from Norway to Austria were Raw Aluminium ($264M), Other Uncoated Paper ($14.9M), and Non-fillet Fresh Fish ($8.53M). During the last 5 years the exports of Norway to Austria have increased at an annualized rate of 2.46%, from $331M in 2017 to $374M in 2022.

In 2017, Austria exported $691M to Norway. The main products exported from Austria to Norway were Vaccines, blood, antisera, toxins and cultures ($31.5M), Other Small Iron Pipes ($26.5M), and Delivery Trucks ($25.5M). During the last 5 years the exports of Austria to Norway have increased at an annualized rate of 3.87%, from $572M in 2022 to $691M in 2017.

Exports from Norway () to Austria () (2022)

Exports from Austria () to Norway () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Norway
Top DestinationGermany$78.1B

Austria
Top DestinationGermany$57.7B

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

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

In 2022, countries that imported more from Austria than Norway included Switzerland ($11.2B), Hungary ($10.4B), and United States ($14.4B).

Difference in imports from Austria () and Norway () (2022)

Comparative Advantage Norway - Austria

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Norway had a large net trade with Austria in the exports of Metals ($283M), Machines ($20.4M), and Paper Goods ($18.2M).

During 2017, Austria had a large net trade with Norway in the exports of Machines ($215M), Metals ($130M), and Transportation ($97.5M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Norway Austria+$5.11MNon-fillet Fresh Fish

Top Product Potential Austria Norway+$34.3MCars

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

Aut Year

Nor Year

In 2009, Norway exported services to Austria worth $229M, with Computer and information services ($91.6M), Travel ($60.9M), and Other business services ($40M) being the largest in terms of value.

In 2020, Austria exported services to Norway worth $242M, with Transportation ($62.8M), Other business services ($58.3M), and Computer and information services ($46.8M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Norway () to Austria () (2009)

Services Exports from Austria () to Norway () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

About

Latest Trends

About

Latest Trade

Historical Data

Bilateral Trade by Products

Exports from Norway () to Austria () (2022)

Exports from Austria () to Norway () (2022)

Market Competitiveness

Difference in imports from Austria () and Norway () (2022)

Comparative Advantage Norway - Austria

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Norway () to Austria () (2009)

Services Exports from Austria () to Norway () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Norway () and Austria () (2022)

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