Norway recorded a Current Account surplus of 15 percent of the country's Gross Domestic Product in 2021. source: Statistics Norway

Current Account to GDP in Norway averaged 6.65 percent of GDP from 1980 until 2021, 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 January of 2023.

Current Account to GDP in Norway is expected to reach 24.50 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 19.00 percent of GDP in 2023 and 15.10 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 148775.27 99996.95 NOK Million Dec 2022
Current Account 570571.00 321927.00 NOK Million Sep 2022
Current Account to GDP 15.00 1.10 percent of GDP Dec 2021
Imports 90974.00 96311.08 NOK Million Dec 2022
Exports 239749.27 196308.03 NOK Million Dec 2022
External Debt 7971397.00 7136310.00 NOK Million Sep 2022
Terms of Trade 92.56 100.75 points Dec 2022
Capital Flows 545220.00 234942.00 NOK Million Sep 2022
Oil Exports 39156.00 45215.00 NOK Million Dec 2022
Foreign Direct Investment 43365.00 82521.00 NOK Million Sep 2022

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
15.00 1.10 16.10 -6.10 1980 - 2021 percent of GDP Yearly