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Pair · Q2 2026 · Aug 2025–Jul 2026

Goods, bank claims, portfolio holdings and direct investment between UK and Norway, each channel at its own period. Left, UK to Norway; right, Norway to UK.

Finance to trade

positions ÷ goods, both directions
Finance to trade4.6×positions ÷ goods, both directions
Financial positions, both directions165USD bn
Goods, both directions36.3USD bn

Bank, and positions in both directions over goods trade in both directions; financial centres show very high ratios because they hold securities for others.

Positions at the periods above, goods in the 12-month window. Calculations: datasteg.

The pair through time

2006–Jul 2026

Each channel at its own period on one time axis: goods every month (12-month windows), bank claims every quarter, portfolio holdings every half year, direct investment every year, and below them the finance-to-trade ratio by quarter. Solid lines are reported flows, dashed stretches estimated; the band between a goods line and its other report is the mirror gap where both reports exist. A month with no goods line is one where the pair fell below trade-flow’s 1,500 largest flows.

SinceUK → NorwayNorway → UKother report (mirror gap)estimated
Goods · 12-month windows, monthly · USD bnJul 2026 · 4.9 / 31.4050100Bank claims · quarterly · USD bnQ2 2026 · 131 / –0100200Portfolio holdings · half-yearly · USD bnDec 2025 · 15.9 / 1140100200Direct investment · annual · USD bn2024 · 14.2 / 4.301020Finance to trade · quarterly, positions both ways ÷ goods both waysQ2 2026 · 7.9×0.0×5.0×10×20062008201020122014201620182020202220242026
Sources

The ratio starts in 2009, when the direct-investment survey begins: bank claims at the quarter, portfolio and direct investment at their latest period at or before it, goods in the 12 months to the quarter end. Calculations: datasteg global-network.

Goods UK → Norway

Aug 2025–Jul 2026

exports of UK to Norway, 12 months

Exports, 12 months4.9USD bnreported
1.03importer’s report ÷ exporter’s
Sources

Window Aug 2025–Jul 2026. Importer-reported where filed, partner-reported or estimated otherwise (tagged). Mirror ratio: the importer’s report over the exporter’s.

Goods Norway → UK

Aug 2025–Jul 2026

exports of Norway to UK, 12 months

Exports, 12 months31.4USD bnreported
0.95importer’s report ÷ exporter’s
Sources

Window Aug 2025–Jul 2026. Importer-reported where filed, partner-reported or estimated otherwise (tagged). Mirror ratio: the importer’s report over the exporter’s.

UK → Norway

Q2 2026

loans and deposits of banks in UK on residents of Norway

Position131USD bn
Flow in the quarter+31.2USD bnas published by the BIS
Sources

Loans and deposits, all sectors and currencies, residence basis, Q2 2026. Flow as published by the BIS.

Norway → UK

Q2 2026

loans and deposits of banks in Norway on residents of UK

Position–Not reported
Flow in the quarter–
Sources

Loans and deposits, all sectors and currencies, residence basis, Q2 2026. Flow as published by the BIS.

UK → Norway

Q4 2025

securities issued in Norway held by investors in UK

Total15.9USD bn
Equity6.7USD bn
Debt securities9.2USD bn
Sources

Holder to issuer, Q4 2025.

Norway → UK

Q4 2025

securities issued in UK held by investors in Norway

Total–Not reported
Equity–
Debt securities–
Sources

Holder to issuer, Q4 2025.

UK → Norway

2024

position of investors in UK in Norway

Position14.2USD bn
Reportthe host’s
Sources

Investor to host, 2024; one report per pair, the host’s first.

Norway → UK

2024

position of investors in Norway in UK

Position4.3USD bn
Reportthe host’s
Sources

Investor to host, 2024; one report per pair, the host’s first.