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Trade

Norway

EU trade relations with Norway. Facts, figures and latest developments.

Country or region
  • Norway
Trade topics
  • Negotiations and agreements
  • Trade policy

Norway's economic and trade relations with the EU are mainly governed by the agreement on the European Economic Area (EEA).

Trade picture

  • In 2023, Norway was the EU's 6th most important partner for trade in goods.

The EU’s trade with Norway had a deficit of nearly €57 billion in 2023; lower than in 2022, when it reached €93 billion. The deficit in the trade of goods is mostly due to a shift in the import of gas away from Russia. 67.5% of Norwegian exports go to the EU.

Exports from the EU to Norway are dominated by machinery and appliances, as well as transport equipment, while mineral products represent around 53% of EU imports from Norway.  Norway is the biggest exporter of fish and aquaculture products to the EU.

  • The balance of trade in services between Norway and the EU is positive for the EU and rather stable.

The EU and Norway

As a member state of the European Economic Area, Norway fully applies the whole EU acquis communautaire relevant to the four freedoms (free movement of goods, persons, services and capital), along with that pertinent to flanking policies (i.e. transport, competition, social policy, consumer protection, environment, statistics and company law).

As a result, the EEA agreement provides for a high degree of economic integration, common competition rules, rules for state aid and government procurement.

Agriculture and fisheries are not covered by the EEA agreement. However, Article 19 thereof highlights the commitment of the parties to progressive liberalisation of agricultural trade, which is achieved through the conclusion of separate agreements on that basis. The latest agreement under this article dates from 2018.

As a member of the European Free Trade Association (EFTA), Norway seeks to conclude bilateral Free Trade Agreements in the so-called EFTA framework. This means that Switzerland, Norway, Iceland and Liechtenstein can negotiate a Free Trade Agreement with a respective third country via EFTA.

Trading with Norway