Norway recorded a Current Account surplus of 1.90 percent of the country's Gross Domestic Product in 2020. source: Statistics Norway

Current Account to GDP in Norway averaged 6.46 percent from 1980 until 2020, reaching an all time high of 16.10 percent in 2006 and a record low of -6.10 percent 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 2021.

Current Account to GDP in Norway is expected to reach 8.60 percent by the end of 2021, 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 10.20 percent in 2022 and 10.50 percent in 2023, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

API Features Documentation Interested? Click here to contact us
Please Paste this Code in your Website
width
height
 Preview
Norway Current Account to GDP

Actual Previous Highest Lowest Dates Unit Frequency
1.90 2.80 16.10 -6.10 1980 - 2020 percent Yearly

Norway Trade Last Previous Highest Lowest Unit
Balance of Trade 25448.00 23552.00 48677.18 -9914.00 NOK Million [+]
Current Account 9277.00 9277.00 122200.00 -16087.00 NOK Million [+]
Current Account to GDP 1.90 2.80 16.10 -6.10 percent [+]
Imports 72686.00 59408.00 83879.95 696.00 NOK Million [+]
Exports 98133.00 82960.00 98223.26 449.00 NOK Million [+]
External Debt 6151512.00 6239407.00 6638702.00 0.00 NOK Million [+]
Terms of Trade 84.12 86.37 115.90 75.84 points [+]
Capital Flows -70605.00 41423.00 189108.00 -162110.00 NOK Million [+]
Crude Oil Production 1816.00 1827.00 3417.00 2.00 BBL/D/1K [+]
Oil Exports 27693.00 23146.00 37132.00 0.00 NOK Million [+]
Terrorism Index 1.30 0.08 4.71 0.00 [+]
Weapons Sales 72.00 31.00 278.00 1.00 USD Million [+]
Foreign Direct Investment -24017.00 10237.00 139145.00 -220006.00 NOK Million [+]


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.