Norway's Goods Trade Balance measures the difference between the country's exports and imports over a given period. Economists use the Trade Balance to evaluate the structure of trade flows between countries. A trade deficit is formed when more goods and services are imported than exported. When exports exceed imports, economists point to a trade surplus.
The impact of the Trade Balance on NOK quotes is ambiguous and depends on the context of business cycles and other economic indicators, such as production dynamics. For example, in economy recession conditions, countries begin to export more in order to create jobs. Conversely, if the economy grows rapidly, developed countries prefer to develop imports in order to ensure price competition. This may influence Norwegian krone quotes accordingly.