Key Market Indicators
Norwegian nickel exports are projected to decline to approximately $888 million by 2028, down from around $994 million in 2023. This represents an average annual decrease of 1.8%. Historical data shows that since 1998, Norway's nickel supply has dropped by an average of 3.7% per year. In the global ranking for 2023, Norway was positioned at number eight for nickel exports, with Finland taking the lead at nearly $994 million. Other top nickel exporters included Canada, Russia, and Malaysia, holding the second, third, and fourth spots, respectively. On the import side, Norwegian nickel imports are expected to decrease slightly to about $1.6 billion by 2028, from $1.6 billion in 2023. This represents a modest annual decline of 0.2%. Since 1998, the country's demand for nickel has decreased by an average of 2.6% per year.
