Erling Haaland scored and provided an assist as Norway swept Bellamy’s side aside to secure all three points at the Ullevaal Stadion.
Wales are now guaranteed to finish bottom of UEFA Nations League Group A4 ahead of their final game against Portugal on Tuesday (November 17).
Wales have now lost five of their last six games in all competitions, as many as they had in their previous 29.
Despite the defeat, Bellamy was happy with his side’s performance.
"It was a good performance. I thought there were huge parts of the game where we played really well," Bellamy told BBC Match of the Day Wales.
"We wanted to take the game to Norway here, we didn't want to just sit back.
"I thought we could have been better with our final ball at times. I always felt we were in the game.
"I'd like to have this game again because there was some really good stuff out there at times, but it's still disappointing because we lost at the end of the day."