In 2023, Norway imported fossil fuels totaling 19.25 million metric tons. Forecast data shows a steady year-on-year increase in fossil fuel imports from 2024 to 2028. Specifically, the values forecasted for each year are as follows: 19.65 million metric tons in 2024, 20.11 million metric tons in 2025, 20.55 million metric tons in 2026, 20.99 million metric tons in 2027, and 21.42 million metric tons in 2028. This reflects an annual increase of approximately 2.0% to 2.3%. The compound annual growth rate (CAGR) over this five-year forecast period is approximately 2.1%.
Future trends to watch for include fluctuations in global fossil fuel prices, advancements in renewable energy technologies, and policy changes that may impact fossil fuel consumption and imports. Additionally, economic growth and industrial demand in Norway may influence future import volumes.
