Norway's current account surplus plunged to NOK 23.93 billion in the third quarter of 2019 from NOK 83.89 billion in the same period the prior year. This was the smallest current account surplus since the fourth quarter of 2017, with goods and services account shifting to a deficit of NOK 12.09 billion from a surplus of NOK 57.19 billion a year earlier. Meanwhile, the income and current transfers surplus increased to NOK 36.02 billion from NOK 26.70 billion. Current Account in Norway averaged 36081.92 NOK Million from 1981 until 2019, reaching an all time high of 122730 NOK Million in the first quarter of 2012 and a record low of -16125 NOK Million in the second quarter of 1986. source: Statistics Norway

Current Account in Norway is expected to be 45100.00 NOK Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Norway to stand at 47200.00 in 12 months time. In the long-term, the Norway Current Account is projected to trend around 59100.00 NOK Million in 2020, according to our econometric models.

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Norway Current Account

Actual Previous Highest Lowest Dates Unit Frequency
23927.00 26527.00 122730.00 -16125.00 1981 - 2019 NOK Million Quarterly
Current Prices, NSA



Calendar GMT Actual Previous Consensus TEForecast
2019-03-06 07:00 AM Q4 NOK46.8B NOK91.4B NOK 75.8B
2019-06-05 06:00 AM Q1 NOK67.78B NOK47.32B NOK 55.1B
2019-09-04 06:00 AM Q2 NOK30.59B NOK73.08B NOK 60.2B
2019-12-04 07:00 AM Q3 NOK23.93B NOK26.53B NOK 59.8B
2020-03-04 07:00 AM Q4 NOK23.9B NOK 45.1B


News Stream
2019-09-04
Norway Current Account Surplus Smallest in 1-1/2 Year
Norway's current account surplus plunged to NOK 30.59 billion in the second quarter of 2019 from NOK 59.27 billion in the same period the prior year. This was the smallest current account surplus since the fourth quarter of 2017, as the goods and services surplus tumbled to NOK 10.15 billion from NOK 35.30 billion a year ago. In addition, the income and current transfers surplus decreased to NOK 20.44 billion from NOK 23.97 billion.

2019-06-05
Norway Q1 Current Account Surplus Narrows 11.8% YoY
Norway's current account surplus decreased to NOK 67.78 billion in the three months to March 2019 from NOK 76.89 billion in the same period the prior year. The goods and services surplus dropped noticeably to NOK 43.72 billion from NOK 55.40 billion a year ago. Meanwhile, the surplus of income and current transfers increased to NOK 24.06 billion from NOK 21.49 billlion.

2019-03-06
Norway Current Account Surplus Widens Sharply in Q4
Norway's current account surplus widened sharply to NOK 46.80 billion in the December quarter of 2018 from NOK 33.79 billion in the same period a year earlier. The goods and services surplus surged to NOK 54.85 billion from NOK 28.58 billion a year ago. Meanwhile, the income and current transfers posted a deficit of NOK 8.05 billion, swinging from a NOK 5.22 billion surplus in the same period of 2017.


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).

Norway Trade Last Previous Highest Lowest Unit
Balance of Trade 25569.93 17924.15 48677.18 -5680.00 NOK Million [+]
Current Account 23927.00 26527.00 122730.00 -16125.00 NOK Million [+]
Current Account to GDP 7.10 4.60 16.20 -6.10 percent [+]
Imports 58831.96 63655.79 83879.95 696.00 NOK Million [+]
Exports 84401.89 81579.94 98223.26 449.00 NOK Million [+]
External Debt 5631357.00 5526407.00 5631357.00 0.00 NOK Million [+]
Terms of Trade 94.46 96.40 115.90 75.84 points [+]
Capital Flows -23983.00 102574.00 189108.00 -61109.00 NOK Million [+]
Crude Oil Production 1321.00 1392.00 3417.00 2.00 BBL/D/1K [+]
Terrorism Index 0.08 0.15 4.71 0.00 [+]
Weapons Sales 64.00 153.00 278.00 1.00 USD Million [+]
Foreign Direct Investment 27945.00 -49328.00 118173.00 -220006.00 NOK Million [+]