Norway recorded a Current Account surplus of 2 percent of the country's Gross Domestic Product in 2020. source: Statistics Norway

Current Account to GDP in Norway averaged 6.46 percent of GDP from 1980 until 2020, reaching an all time high of 16.10 percent of GDP in 2006 and a record low of -6.10 percent of GDP in 1986. This page provides - Norway Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. Norway Current Account to GDP - values, historical data and charts - was last updated on May of 2022.

Current Account to GDP in Norway is expected to reach 11.10 percent of GDP by the end of 2022, according to Trading Economics global macro models and analysts expectations. In the long-term, the Norway Current Account to GDP is projected to trend around 10.80 percent of GDP in 2023 and 10.30 percent of GDP in 2024, according to our econometric models.

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Norway Current Account to GDP



Related Last Previous Unit Reference
Balance of Trade 92600.00 138370.71 NOK Million Apr 2022
Current Account 269482.00 269482.00 NOK Million Dec 2021
Current Account to GDP 2.00 2.80 percent of GDP Dec 2020
Imports 73000.00 87948.50 NOK Million Apr 2022
Exports 165600.00 226319.20 NOK Million Apr 2022
External Debt 6389569.00 6265186.00 NOK Million Dec 2021
Terms of Trade 104.04 95.46 points Mar 2022
Capital Flows 238212.00 106822.00 NOK Million Dec 2021
Oil Exports 51622.00 35306.00 NOK Million Mar 2022
Foreign Direct Investment -30582.00 36743.00 NOK Million Dec 2021

Norway Current Account to GDP
The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.
Actual Previous Highest Lowest Dates Unit Frequency
2.00 2.80 16.10 -6.10 1980 - 2020 percent of GDP Yearly