In 2023, Norway's exports of fossil fuel stood at 168. The forecast data indicates a gradual decline from 2024 to 2028, with values dropping from 167.5 to 165.55 million metric tons. Year-on-year variations reveal a marginal decrease, ranging from 0.30% to 0.25% annually. The last two years observed (2026-2027 and 2027-2028) show similarly small declines, marking a continued downward trajectory. The Compound Annual Growth Rate (CAGR) over the last five years highlights an average annual reduction of approximately 0.3%.
Future trends to watch for:
- Global shifts towards renewable energy sources
- Potential regulatory changes affecting fossil fuel production and export
- Technological advancements in energy efficiency and alternative energy
- Economic developments in key import markets
