Norway recorded a Current Account surplus of 7.10 percent of the country's Gross Domestic Product in 2018.

Current Account to GDP in Norway averaged 6.76 percent from 1980 until 2018, reaching an all time high of 16.20 percent in 2005 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 2020. source: Statistics Norway

Current Account to GDP in Norway is expected to reach 7.20 percent by the end of 2020, 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 7.90 percent in 2021 and 8.00 percent in 2022, according to our econometric models.

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Norway Current Account to GDP

Actual Previous Highest Lowest Dates Unit Frequency
7.10 4.60 16.20 -6.10 1980 - 2018 percent Yearly

Norway Trade Last Previous Highest Lowest Unit
Balance of Trade 3249.00 1275.00 48677.18 -5680.00 NOK Million [+]
Current Account 19073.00 19073.00 122200.00 -16087.00 NOK Million [+]
Current Account to GDP 7.10 4.60 16.20 -6.10 percent [+]
Imports 55507.00 68993.00 83879.95 696.00 NOK Million [+]
Exports 58756.00 70268.00 98223.26 449.00 NOK Million [+]
External Debt 5733170.00 5631357.00 5733170.00 0.00 NOK Million [+]
Terms of Trade 96.52 94.46 115.90 75.84 points [+]
Capital Flows 2216.00 -23983.00 189108.00 -61109.00 NOK Million [+]
Crude Oil Production 1790.00 1682.00 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 26976.00 24025.00 118173.00 -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.