Norway (2024)

Norway Trade & Investment Summary

U.S. goods and services trade with Norway totaled an estimated $17.9 billion in 2022. Exports were $7.2 billion; imports were $10.8 billion. The U.S. goods and services trade deficit with Norway was $3.6 billion in 2022.

U.S. goods exports to Norway in 2022 were $4.7 billion, up 17.4 percent ($695 million) from 2021 and up 34 percent from 2012. U.S. goods imports from Norway totaled $6.7 billion in 2022, down 1.0 percent ($71 million) from 2021, but up 1 percent from 2012. The U.S. goods trade deficit with Norway was $2.0 billion in 2022, a 28.1 percent decrease ($766 million) over 2021.

U.S. exports of services to Norway were an estimated $2.5 billion in 2022, 43.9 percent ($757 million) more than 2021, and 23 percent less than 2012 levels. U.S. imports of services from Norway were an estimated $4.1 billion in 2022, 62.5 percent ($1.6 billion) more than 2021, and 112 percent greater than 2012 levels. Leading services exports from the U.S. to Norway were in the travel, transportation, and financial services sectors. The United States had a services trade deficit of an estimated $1.6 billion with Norway in 2022, up 103 percent from 2021.

U.S. foreign direct investment (FDI) in Norway (stock) was $13.5 billion in 2022, a 14.7 percent decrease from 2021. U.S. direct investment in Norway is led by mining, information services, and manufacturing.

Norway's FDI in the United States (stock) was $36.9 billion in 2022, up 12.3 percent from 2021.

    Norway (2024)

    FAQs

    Is Norway very expensive? ›

    Norway does not top the list of the most expensive countries in Europe, moreover, Oslo is no longer on the top 20 list of the most expensive cities in the world, according to Mercer's exhaustive 2023 cost of living city rankings.

    What is Norway best known for? ›

    Soaring white mountains, breathtaking fjords, emerald-green forests, and exhilarating outdoor pursuits such as hiking and kayaking are a big part of what makes Norway famous. If you can peel yourself away from the fjords and forests, Norway is also known for its capital city, Oslo.

    Is Norway cheaper than the US? ›

    United States is 5% more expensive than Norway. Jun 2024 Cost of Living.

    How rich is the average person in Norway? ›

    Norwegians earn USD 55 780 per year on average, more than the OECD average of USD 49 165.

    Do they speak English in Norway? ›

    As is the case across Scandinavia, English is widely spoken in Norway. It may be their second language, but many Norwegians speak it like natives. When Norwegians aren't impressing you with their English skills, they'll want to show you their country's incredible nature, something which Norway is renowned for.

    What color hair do most Norwegians have? ›

    In this population, individuals with intermediate or blue eyes as well as blond or brown hair are common.

    What makes Norway so rich? ›

    The country has a very high standard of living compared with other European countries. Norway's modern manufacturing and welfare system rely on a financial reserve produced by exploitation of natural resources, particularly North Sea oil.

    Why is Norway so loved? ›

    Its scenery is spectacular. It oozes history. It's a foodie's delight. Ask any Norwegian and you'll hear a different reason why they love their country, so it's no wonder Norway was once voted the best place to live in the world.

    Are there polar bears in Norway? ›

    This makes Norway a particularly special destination as it is the only country in Scandinavia to have wild polar bears. In fact, in only one part of Norway, polar bears are well documented residents. On the archipelago of Svalbard a common rumour even persists that there are more wild polar bears than humans.

    Who is a famous person in Norway? ›

    Norwegian explorer, Roald Amundsen, was the first person to reach the South Pole and the first person to sail through the Northwest Passage, which is the sea lane through the Arctic Ocean that runs along the northern coast of North America.

    What do they eat for breakfast in Norway? ›

    The Norwegian Breakfast
    • We eat lots of savoury items.
    • Wholemeal bread and wholegrain knekkebrød are staples.
    • Cheese and jam together is a thing here.
    • Coffee is a must.
    • There is always plenty of protein.
    • Fish is a favourite.
    • Porridge is the choice for the winter.
    Aug 11, 2023

    What dessert is Norway known for? ›

    Kling is a classic Norwegian dessert. The warm, soft lefse paired with the cool, sweet butter and sugar is a beloved treat. It's especially popular around holidays in Norway. Both lefse and kling are traditions that go back generations in Norwegian culture.

    What are the 4 meals in Norway? ›

    Typical main meals
    • Breakfast (frokost)
    • Lunch (lunsj)
    • Dinner (middag)
    • Evening meal (kveldsmat)

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