globaltraffic.earth

Trade between Norway and South Korea

In 2024, Norway exported $1.4 billion to South Korea and imported $673 million. Norway ran a surplus of $686 million with South Korea, compared with a deficit of $778 million in 2019. South Korea was Norway’s 20th largest trading partner (0.8% of its trade), and Norway was South Korea’s 54th (0.2%).

Summary

Norway → South Korea
$1.4billion
South Korea → Norway
$673million
Norway’s balance
$686million

Balance

Norway’s trade balance with South Korea

Trade between Norway and South Korea grew 2.4-fold since 1995

USD billions (current). Norway’s exports and imports; bars: its balance (green surplus, red deficit).

  • Exports 1.4
  • Imports 0.7
  • Balance +0.7

Source: CEPII BACI

Show the numbers
YearExportsImportsTrade balance
1995$220 million$629 million-$409 million
1996$268 million$320 million-$52 million
1997$286 million$509 million-$222 million
1998$354 million$715 million-$361 million
1999$571 million$708 million-$137 million
2000$449 million$844 million-$395 million
2001$438 million$458 million-$21 million
2002$635 million$488 million$147 million
2003$558 million$651 million-$93 million
2004$827 million$497 million$330 million
2005$897 million$710 million$187 million
2006$877 million$953 million-$76 million
2007$1.6 billion$853 million$702 million
2008$2.2 billion$2.2 billion$7 million
2009$2.8 billion$1.5 billion$1.3 billion
2010$3.1 billion$3.2 billion-$58 million
2011$2.4 billion$2.6 billion-$145 million
2012$4.8 billion$1.1 billion$3.7 billion
2013$3.3 billion$1.7 billion$1.6 billion
2014$2.7 billion$2.2 billion$559 million
2015$2.4 billion$7.2 billion-$4.8 billion
2016$1.6 billion$4 billion-$2.5 billion
2017$1.2 billion$5.8 billion-$4.6 billion
2018$1.6 billion$4.4 billion-$2.7 billion
2019$1.3 billion$2.1 billion-$778 million
2020$1.5 billion$1.6 billion-$89 million
2021$2.9 billion$1 billion$1.9 billion
2022$1.9 billion$1.4 billion$566 million
2023$1.3 billion$743 million$598 million
2024$1.4 billion$673 million$686 million

What they sell each other

What Norway sells to South Korea

The top 10 headings in 2024, with their share of the total.

  1. Fresh fish$255 million · 18.8%
    20 thousand tonnes
  2. Fish fillets$178 million · 13.1%
    13 thousand tonnes
  3. Crude petroleum$168 million · 12.4%
    240 thousand tonnes · Norway’s destinations
  4. Frozen fish$98 million · 7.2%
    39 thousand tonnes
  5. Liquid pumps$61 million · 4.5%
    2 thousand tonnes
  6. Control instruments$55 million · 4%
    161 tonnes
  7. Platinum$52 million · 3.8%
    2 tonnes
  8. Unwrought nickel$39 million · 2.8%
    2 thousand tonnes
  9. Other industrial machines$38 million · 2.8%
    945 tonnes
  10. Valves and taps$37 million · 2.7%
    887 tonnes

What South Korea sells to Norway

The top 10 headings in 2024, with their share of the total.

  1. Cars$166 million · 24.7%
    8 thousand tonnes · South Korea’s destinations
  2. Other industrial machines$44 million · 6.6%
    1 thousand tonnes
  3. Bulldozers and excavators$42 million · 6.3%
    6 thousand tonnes · South Korea’s destinations
  4. Batteries$38 million · 5.7%
    3 thousand tonnes · South Korea’s destinations
  5. Military weapons$25 million · 3.8%
    176 tonnes
  6. Transformers and power supplies$25 million · 3.7%
    2 thousand tonnes
  7. New tires$17 million · 2.5%
    3 thousand tonnes · South Korea’s destinations
  8. Computer and office machine parts$16 million · 2.4%
    139 tonnes
  9. Makeup and skin care$15 million · 2.2%
    662 tonnes · South Korea’s destinations
  10. Cameras and broadcast equipment$15 million · 2.2%
    63 tonnes

How it travels

Estimated sea route from Oslo to Busan.

The estimated sea route between Oslo and Busan is 15,006 nautical miles (27,792 km) long: ≈ 34.5–44.5 days at sea (at 18 and 14 knots).

Because of the 2024 disruptions, traffic is split: 85% via the Strait of Dover, the Cape of Good Hope and the Strait of Malacca and Singapore (15,006 nautical miles); and 15% via the Strait of Dover, the Strait of Gibraltar, the Suez Canal, the Bab-el-Mandeb Strait and the Strait of Malacca and Singapore (11,491 nautical miles).

Sailing estimate without port calls, waiting or transshipment; not a schedule. One main reference port per country: in large countries it does not represent all of its ports.

Split by transport mode

  1. Sea$1.5 billion · 74.9%
  2. Air$510 million · 25.1%

Mode estimated from value per kilo and geography; both directions together.

How much each matters to the other

South Korea was Norway’s 20th largest trading partner (0.8% of its trade), and Norway was South Korea’s 54th (0.2%).

South Korea in Norway’s trade
0.8%
South Korea’s rank among Norway’s partners
20th
Norway in South Korea’s trade
0.2%
Norway’s rank among South Korea’s partners
54th

Compare with

Other partners of Norway

Other partners of South Korea

Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), in current US dollars, with exports and imports reconciled between countries. The transport mode is our own estimate based on value per kilo and geography. The sea route comes from our own network derived from World Bank shipping density (not from nautical charts), between one main reference port per country (World Port Index); days are the distance at 14 and 18 knots, without port calls or waiting. Data up to 2024.