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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
NorwayNorway Balance of Trade climbed to 84.3K in July 2026
FMPMonthlyReleased August 2026
Norway Balance of Trade climbed to 84.3K in July 2026, released August 2026, up 21K from June's 63.3K reading. The print exceeded the 57K consensus by 27.3K. The print is running well above the 12-month average of 60.54K. Over the past 3 months, Balance of Trade averaged 62.13K, vs 75.5K in the prior 3-month window. The reading is in the 86th percentile of the trailing 24-month range.
Latest Release
84.3
Actual
57
Consensus
63.3
Previous
Median Absolute Error
±19.05 thousand
across last 12 releases
Last Call
Aug 2026
Predicted: 51.25
Actual: 84.3
Error: -33.05
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| S&P 500 | ▼ Inverse | −0.74 | INDEX | Moves against | → View |
| Euro STOXX 50 | ▼ Inverse | −0.50 | INDEX | Moves against | → View |
| DAX | ▼ Inverse | −0.43 | INDEX | Moves against | → View |
| XAU/USD | ▼ Inverse | −0.37 | COMMODITIES | Moves against | → View |
| BTC/USD | ▼ Inverse | −0.29 | CRYPTO | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Balance of Trade (Norway) was reported at 84 thousand in August 2026. This beat the market consensus of 57 thousand by 27 thousand. The reading rose from the previous value of 63 thousand. Trailing 12-month context per ETL data through August 2026. Over the past 12 months, the indicator has averaged 59 thousand, ranging from 37 thousand to 84 thousand across 11 releases.
WHY IT MATTERS
The trailing three releases averaged 70 thousand, up from the prior three at 68 thousand. Volatility over the past year (σ 16 thousand) is comparable than the prior year (σ 16 thousand). In August readings over the past 3 years, Balance of Trade has averaged 66 thousand.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with S&P 500 (Bearish S&P 500). A secondary relationship exists with Euro STOXX 50, negatively correlated (Bearish Euro STOXX 50). Over the last 12 releases, the Sigmacast model's median absolute error is 19 thousand.
WHAT TO WATCH NEXT
The next release is scheduled for September 15, 2026.
Auto-generated from current model state · Refreshes on each release · Last update August 2026.
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Balance of Trade - NO
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About Balance of Trade — Norway
DEFINITION
The Balance of Trade is a financial indicator that measures the difference between a country's exports and imports of goods and services. It is an important measure of a country's economic health and can indicate whether a country is running a trade surplus or deficit. A positive balance of trade indicates that a country is exporting more than it is importing, while a negative balance of trade suggests the opposite. This indicator is closely monitored by economists and policymakers as it can impact a country's currency value, inflation, and overall economic growth.
WHY THIS INDICATOR MATTERS
Trade-balance and tariff data inform exchange-rate fundamentals and feed directly into GDP via the net-exports channel. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jul 2026): actual 84.3 K, consensus 57 K. Prior reading (Jun 2026): 61.9 K. Before that (Jun 2026): 61.9 K.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with S&P 500 (Bearish S&P 500, r=-0.74) — a useful reference for index-focused traders.
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Economic Calendar - NO Events
| Friday, August 21, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 06:00 | NO | GDP Growth Rate QoQ | 0.4 | 0.5 | 0.50 | Low | |
| 06:00 | NO | GDP Growth Rate YoY | 1.7 | 1.1 | 1.10 | Low | |
| 06:00 | NO | GDP Growth Mainland QoQ | 0.2 | 0.4 | 0.40 | Low | |