Norway's current account jumped sharply to NOK 276.80 billion in Q2 of 2022 from NOK 105.94 billion in the same period the prior year, with the surplus of goods and services account jumping to NOK 240.89 billion from NOK 62.18 billion amid high prices of crude and natural gas. Meanwhile, the income and current transfers surplus narrowed to NOK 42.74 billion from NOK 50.10 billion a year ago. source: Statistics Norway

Current Account in Norway averaged 41999.71 NOK Million from 1981 until 2022, reaching an all time high of 335160 NOK Million in the first quarter of 2022 and a record low of -16087 NOK Million in the second quarter of 1986. This page provides - Norway Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news. Norway Current Account - data, historical chart, forecasts and calendar of releases - was last updated on September of 2022.

Current Account in Norway is expected to be 42300.00 NOK Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Norway Current Account is projected to trend around 29300.00 NOK Million in 2023 and 30300.00 NOK Million in 2024, according to our econometric models.

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Norway Current Account



Calendar GMT Actual Previous Consensus TEForecast
2022-06-01 06:00 AM Q1 NOK341.1B NOK262.58B NOK270B
2022-09-07 06:00 AM Q2 NOK276.8B NOK335.16B NOK435B
2022-12-07 07:00 AM Q3 NOK276.8B


Related Last Previous Unit Reference
Balance of Trade 197697.00 153304.00 NOK Million Aug 2022
Current Account 276801.00 335156.00 NOK Million Jun 2022
Current Account to GDP 15.00 1.10 percent of GDP Dec 2021
Imports 90152.00 75535.00 NOK Million Aug 2022
Exports 287848.00 228839.00 NOK Million Aug 2022
External Debt 7110386.00 6462276.00 NOK Million Jun 2022
Terms of Trade 107.04 104.04 points Jun 2022
Capital Flows 216799.00 320040.00 NOK Million Jun 2022
Oil Exports 45859.00 48686.00 NOK Million Aug 2022
Foreign Direct Investment -30582.00 36743.00 NOK Million Dec 2021

Norway Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).
Actual Previous Highest Lowest Dates Unit Frequency
276801.00 335156.00 335156.00 -16087.00 1981 - 2022 NOK Million Quarterly
Current Prices, NSA

News Stream
Norway Q2 Current Account Surplus Soars Sharply
Norway's current account jumped sharply to NOK 276.80 billion in Q2 of 2022 from NOK 105.94 billion in the same period the prior year, with the surplus of goods and services account jumping to NOK 240.89 billion from NOK 62.18 billion amid high prices of crude and natural gas. Meanwhile, the income and current transfers surplus narrowed to NOK 42.74 billion from NOK 50.10 billion a year ago.
2022-09-07
Norway Q1 Current Account Surplus Notches Record Peak
Norway's current account surplus soared to NOK 341.06 billion in the March quarter of 2022 from NOK 109.35 billion in the same period the prior year. It was the largest current account surplus on record, as the goods and services account surplus jumped to NOK 302.96 billion from NOK 63.37 billion a year earlier, linked to higher prices of crude and natural gas. Meanwhile, the income and current transfers surplus narrowed sharply to NOK 43.67 billion from NOK 45.98 billion a year ago.
2022-06-01
Norway Q4 Current Account Surplus Hits New High
Norway's current account surplus jumped to a fresh record peak of NOK 269.48 billion in the three months to December 2021 from NOK 4.26 billion in the same period the prior year. The goods and services account surplus widened sharply to NOK 257.47 billion from NOK 6.50 billion a year earlier, due to high prices of crude oil and natural gas. Meanwhile, the income and current transfers recorded a surplus of NOK 12.01 billion, switching from a deficit of NOK 2.24 billion a year ago.
2022-03-02