Currently, the price of oil is approaching its highest point since 2015. Based on the hypothesis that oil prices are cycling into a bull market, it is a natural deduction that the Norwegian Krone (NOK) will appreciate since Norway is one of the most important high-quality oil exporting countries. What will happen to Norway’s economy if NOK appreciates? To answer this question in its entirety, of course, would require a project great in scope. This study attempts to address a small part of the problem: the impact on Norway’s imports from the appreciation of the NOK. In another word, this paper is concerned with the price elasticity of Norway’s general imports. This paper established an economy model to explain the mechanism of how exchange rates affect imports. It also involved empirical research aimed at estimating the coefficient of price elasticity. To avoid the problem of endogeneity, a Vector Error Correction Model (VEC) model was first used, followed by the Granger causality test. It was found that there is one cointegrating relation and real exchange rate is the Granger cause of real import per unit of income. Finally, a model of a single equation Error Correction Model (ECM) was set up.