Norway posted a trade surplus of NOK 89.3 billion in July 2026, up slightly from NOK 89.2 billion a year earlier and the largest surplus since March. Exports climbed 21.5% year on year to NOK 173.6 billion, driven by stronger shipments of fuels, lubricating oils and electric power, up 29.8%, alongside gains in animal and vegetable oils, fats and waxes, up 29.8%, chemical products, up 17.9%, and processed goods grouped mainly by material, up 18.2%. Imports increased just 0.1% to NOK 89.3 billion as higher purchases of raw materials, up 30.5%, and animal and vegetable oils, fats and waxes, up 48.5%, were largely offset by lower arrivals of food and live animals, down 10.1%, processed goods, down 6.3%, and other goods and transactions, down 37%. For January through July, Norway recorded a trade surplus of NOK 502.1 billion versus NOK 430.3 billion a year earlier, a 16.7% increase, as exports rose 8.1% and outpaced a 2.3% rise in imports.