PUBLISHED April 28, 2026
A Powerful Trade Result in March
According to “Norge: Handelsoverskudd 97,5 mrd i mars” published by Finansavisen, Norway’s trade surplus with foreign countries reached NOK 97.5 billion in March 2026. This represented a 65.5% increase year-on-year, underlining the strength of the country’s export sector during the month.
Exports Surge Higher
Total exports rose to NOK 199.9 billion, increasing 28.5% compared with March last year. Imports also moved higher, reaching NOK 102.5 billion, but the increase of 5.9% was far smaller than the export jump. This imbalance created one of Norway’s strongest monthly trade outcomes in recent years.
Highest Surplus Since January 2023
Finansavisen reported that the March result was Norway’s highest trade surplus since January 2023. Statistics Norway (SSB) attributed the performance primarily to exceptionally high export revenues from crude oil, combined with strong mainland exports and large gas revenues.
Crude oil was the main driver of the result. Norway exported oil worth NOK 57.4 billion in March, an increase of 67.9% year-on-year. SSB said the rise was caused by both higher prices and higher export volumes, showing strong demand for Norwegian energy supplies.
Crude oil was the main driver of the result. Norway exported oil worth NOK 57.4 billion in March, an increase of 67.9% year-on-year. SSB said the rise was caused by both higher prices and higher export volumes, showing strong demand for Norwegian energy supplies.
Natural gas exports also performed strongly. Norway exported gas worth NOK 69.3 billion, which was 19% more than in March 2025 and the highest export value since February 2023. According to SSB, the improvement was mainly driven by higher prices.
The figures highlight how central the energy sector remains to Norway’s economy. Strong export earnings support public finances, strengthen trade balances, and provide stability during uncertain global conditions. At the same time, Norway’s results also show how closely national performance remains linked to global commodity prices.
If oil and gas prices remain elevated, Norway could continue posting strong trade results through 2026. However, any sharp decline in energy markets or weaker international demand could reduce momentum. For now, Norway remains one of Europe’s strongest trade performers thanks to its resource exports.
Natural gas exports also performed strongly. Norway exported gas worth NOK 69.3 billion, which was 19% more than in March 2025 and the highest export value since February 2023. According to SSB, the improvement was mainly driven by higher prices.
The figures highlight how central the energy sector remains to Norway’s economy. Strong export earnings support public finances, strengthen trade balances, and provide stability during uncertain global conditions. At the same time, Norway’s results also show how closely national performance remains linked to global commodity prices.
If oil and gas prices remain elevated, Norway could continue posting strong trade results through 2026. However, any sharp decline in energy markets or weaker international demand could reduce momentum. For now, Norway remains one of Europe’s strongest trade performers thanks to its resource exports.
