Country profile
Norway
Europe's largest supplier of natural gas, and an exporter of oil, seafood and low-carbon aluminium.
Updated 11 November 2026. Sources at the bottom of the page.
- Capital
- Oslo
- Population
- 5.66 million (2026)
- Currency
- Norwegian krone (NOK)
- GDP, 2026
- US$652 billion
- Exports, 2025
- US$170.5 billion
- Exchange rate
- 1 USD = 9.51 NOK (10 Nov 2026)
Economy
IMF World Economic Outlook, October 2026. 2026 and 2027 are IMF projections.
1.5%Real GDP growth, 2026
1.3%Real GDP growth, 2027
3.2%Inflation, 2026
4.6%Unemployment, 2026
40% of GDPGovernment debt, 2026
20.7% of GDPCurrent account, 2026
Compare Norway with other countries →
Trade
Top export markets
Share of the country’s exports, 2025
- United Kingdom (17.5%)
- Germany (17.4%)
- Netherlands (9.8%)
- Sweden (6.5%)
- Poland (5.9%)
Main exports
Product groups, share of exports
- Mineral fuels, mainly gas and oil (62.2%)
- Fish and seafood (9.7%)
- Electrical machinery and equipment (4.1%)
- Machinery, including computers (3.7%)
- Aluminium (3.2%)
Main trade agreements
- European Economic Area (EEA): access to the EU single market
- EFTA free trade agreements with about 40 partners
- UK–Norway, Iceland and Liechtenstein Free Trade Agreement
Trade policy to watch
- EEA, not the EU: Norway follows EU single-market rules but is outside the EU customs union, so goods need customs declarations at the border.
- EU CBAM: Norway is part of the EU emissions trading system, so EU CBAM does not apply to imports from Norway.
- Gas supply: since 2022, Norway has been Europe’s largest gas supplier.
Energy
Hydropower produces about 90% of Norway's electricity. Norway is one of the world's largest oil and gas exporters.
What it means for your supply chain
- Norway is a key source of low-carbon primary aluminium, salmon and offshore equipment.
- Goods crossing the Norway–EU border need customs paperwork even though product rules are the same.
- Its hydropower makes Norwegian metals some of the lowest-carbon in Europe.
Norway in the Supplier Hub
1 company in the Supplier Hub is listed under Norway.
Sources
- IMF, World Economic Outlook, October 2026: GDP, growth, inflation, unemployment, government debt, current account (2026 and 2027 are projections; updated automatically).
- IMF, World Economic Outlook database: population (2026 estimate).
- World’s Top Exports: export markets and main exports.
- Bank of Canada, daily exchange rates (cross rates calculated from CAD rates; updated daily).
- Energy Institute, Statistical Review of World Energy 2026: energy profile.
Figures are the latest published at the time of the update and may since have been revised. This page is for general information, not investment or legal advice.