Norway's current account posted a surplus of NOK 93.24 billion in the second quarter of 2021 from NOK, shifting from a deficit of 0.67 billion in the same period the prior year. It was the largest current account surplus since the first quarter 2013, as the goods and services account surplus recorded a surplus of NOK 60.36 billion, switching from a deficit NOK 22.51 billion a year earlier, mainly due to a faster rise in the prices of crude and natural gas. Meanwhile, the income and current transfers surplus widened sharply to NOK 32.88 billion from NOK 21.84 billion a year ago. source: Statistics Norway

Current Account in Norway averaged 36549.59 NOK Million from 1981 until 2021, reaching an all time high of 122200 NOK Million in the first quarter of 2012 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 November of 2021.

Current Account in Norway is expected to be 65100.00 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 45100.00 NOK Million in 2022 and 29300.00 NOK Million in 2023, according to our econometric models.

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Norway Current Account


Calendar GMT Actual Previous Consensus TEForecast
2021-06-02 06:00 AM Q1 NOK94.3B NOK5.06B NOK25.0B
2021-09-01 06:00 AM Q2 NOK93.2B NOK92.1B NOK44B
2021-12-01 07:00 AM Q3 NOK93.2B NOK65.1B


Related Last Previous Unit Reference
Balance of Trade 84466.00 52554.00 NOK Million Oct/21
Current Account 93244.00 92136.00 NOK Million Jun/21
Current Account to GDP 2.00 2.80 percent of GDP Dec/20
Imports 72296.44 76622.70 NOK Million Oct/21
Exports 156800.00 129500.88 NOK Million Oct/21
External Debt 6116277.00 6063991.00 NOK Million Jun/21
Terms of Trade 91.63 84.86 points Sep/21
Capital Flows 11235.00 98474.00 NOK Million Jun/21
Oil Exports 32710.00 30351.00 NOK Million Oct/21
Foreign Direct Investment 52736.00 25899.00 NOK Million Jun/21

News Stream
Norway Q2 Current Account Surplus Largest Since 2013
Norway's current account posted a surplus of NOK 93.24 billion in the second quarter of 2021 from NOK, shifting from a deficit of 0.67 billion in the same period the prior year. It was the largest current account surplus since the first quarter 2013, as the goods and services account surplus recorded a surplus of NOK 60.36 billion, switching from a deficit NOK 22.51 billion a year earlier, mainly due to a faster rise in the prices of crude and natural gas. Meanwhile, the income and current transfers surplus widened sharply to NOK 32.88 billion from NOK 21.84 billion a year ago.
2021-09-01
Norway Q1 Current Account Surplus Largest in 7 Years
Norway's current account surplus increased sharply to NOK 94.30 billion in the first quarter of 2021 from NOK 45.48 billion in the same period the prior year. It was the largest current account surplus since the first quarter 2014, as the goods and services account surplus widened sharply to NOK 73.35 billion from NOK 13.40 billion a year earlier, mainly due to a faster rise in the prices of crude and natural gas. Meanwhile, the income and current transfers surplus declined to NOK 20.95 billion from NOK 32.08 billion a year ago.
2021-06-02
Norway Current Account Surplus Narrows in Q4
Norway's current account surplus declined to NOK 9.28 billion in the fourth quarter of 2020 from NOK 14.67 billion in the same period the prior year, as the goods and services account surplus narrowed to NOK 7.55 billion from NOK 24.67 billion a year earlier. Meanwhile, the income and current transfers posted an NOK 1.78 billion surplus, swinging from a deficit of NOK 10 billion a year ago.
2021-03-03

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).