Norway Current Account Balance: % of GDP

1981 - 2021 | Quarterly | % | CEIC Data

Norway Current Account surplus accounted for 10.1 % of the country's Nominal GDP in Mar 2021, compared with a 0.6 % surplus in the previous quarter. Norway Current Account Balance: % of Nominal GDP data is updated quarterly, available from Mar 1981 to Mar 2021, with an average value of 6.0 %. The data reached an all-time high of 19.5 % in Dec 2005 and a record low of -11.5 % in Jun 1986. CEIC calculates Current Account Balance as % of Nominal GDP from quarterly Current Account Balance and quarterly Nominal GDP. Statistics Norway provides Current Account Balance in local currency and Nominal GDP in local currency.

In the latest reports of Norway, Current Account recorded a surplus of 11.1 USD bn in Mar 2021. Foreign Direct Investment (FDI) increased by 260.5 USD mn in Mar 2021. Norway Direct Investment Abroad expanded by 3.2 USD bn in Mar 2021. Its Foreign Portfolio Investment increased by 6.1 USD bn in Mar 2021. The country's Nominal GDP was reported at 96.8 USD bn in Dec 2020.

View Norway's Current Account Balance: % of GDP from Mar 1981 to Mar 2021 in the chart:

Norway Current Account Balance: % of GDP

What was Norway's Current Account Balance: % of GDP in Mar 2021?

Last Previous Min Max Unit Frequency Range
10.1 Mar 2021 0.6 Dec 2020 -11.5 Jun 1986 19.5 Dec 2005 % quarterly Mar 1981 - Mar 2021

Current Account Balance: % of GDP by Country Comparison

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Includes Current Account Balance: % of GDP on 115 economies standardised by CEIC. Instant access to full history data in excel.
country/region Last Frequency Range
Albania (%) -9.5 Mar 2021 quarterly Mar 2008 - Mar 2021
Algeria (%) -6.9 Dec 2019 quarterly Mar 2007 - Dec 2019
Argentina (%) 0.7 Mar 2021 quarterly Mar 2004 - Mar 2021
Armenia (%) 1.4 Dec 2020 quarterly Dec 1994 - Dec 2020
Australia (%) 3.5 Mar 2021 quarterly Sep 1959 - Mar 2021
Austria (%) 1.6 Dec 2020 quarterly Mar 1970 - Dec 2020
Azerbaijan (%) -0.2 Dec 2020 quarterly Mar 2013 - Dec 2020
Bahrain (%) -7.5 Dec 2020 quarterly Mar 2018 - Dec 2020
Bangladesh (%) -1.6 2020 yearly 1998 - 2020
Belarus (%) -6.7 Mar 2021 quarterly Mar 1996 - Mar 2021
Belgium (%) 2.2 Mar 2021 quarterly Mar 1995 - Mar 2021
Bolivia (%) 0.9 Jun 2020 quarterly Mar 1990 - Jun 2020
Bosnia and Herzegovina (%) -1.4 Mar 2021 quarterly Mar 2008 - Mar 2021
Botswana (%) -7.8 Dec 2020 quarterly Mar 2004 - Dec 2020
Brazil (%) -4.0 Mar 2021 quarterly Mar 1995 - Mar 2021
Brunei (%) -20.4 Dec 2020 quarterly Mar 2013 - Dec 2020
Bulgaria (%) -0.8 Mar 2021 quarterly Sep 1999 - Mar 2021
Cambodia (%) -29.0 Dec 2020 quarterly Mar 2010 - Dec 2020
Canada (%) 0.2 Mar 2021 quarterly Mar 1957 - Mar 2021
Chile (%) -2.0 Mar 2021 quarterly Mar 1996 - Mar 2021
China (%) 1.8 Mar 2021 quarterly Mar 1998 - Mar 2021
Colombia (%) -4.8 Mar 2021 quarterly Mar 1996 - Mar 2021
Croatia (%) -11.2 Mar 2021 quarterly Mar 1995 - Mar 2021
Cyprus (%) -17.7 Mar 2021 quarterly Mar 2008 - Mar 2021
Czech Republic (%) 5.8 Mar 2021 quarterly Mar 1995 - Mar 2021
Denmark (%) 5.0 Mar 2021 quarterly Mar 1990 - Mar 2021
Ecuador (%) 2.9 Mar 2021 quarterly Mar 1993 - Mar 2021
Egypt (%) -4.6 Dec 2020 quarterly Sep 2001 - Dec 2020
Estonia (%) -11.3 Dec 2020 quarterly Mar 2000 - Dec 2020
European Union (%) 3.0 Mar 2021 quarterly Mar 1999 - Mar 2021
Finland (%) -0.6 Mar 2021 quarterly Mar 1990 - Mar 2021
France (%) -1.8 Mar 2021 quarterly Mar 1997 - Mar 2021
Georgia (%) -10.7 Mar 2021 quarterly Mar 1996 - Mar 2021
Germany (%) 7.7 Dec 2020 quarterly Mar 1991 - Dec 2020
Ghana (%) -4.1 Sep 2020 quarterly Mar 2006 - Sep 2020
Greece (%) -7.0 Mar 2021 quarterly Mar 2000 - Mar 2021
Hong Kong SAR, China (%) 8.5 Mar 2021 quarterly Mar 1999 - Mar 2021
Hungary (%) 1.8 Mar 2021 quarterly Mar 1995 - Mar 2021
Iceland (%) -3.8 Mar 2021 quarterly Mar 1995 - Mar 2021
India (%) -1.0 Mar 2021 quarterly Jun 2004 - Mar 2021
Indonesia (%) -0.4 Mar 2021 quarterly Mar 1993 - Mar 2021
Iran (%) 0.6 2020 yearly 1997 - 2020
Ireland (%) 19.0 Mar 2021 quarterly Mar 1995 - Mar 2021
Israel (%) 5.2 Dec 2020 quarterly Mar 1995 - Dec 2020
Italy (%) 1.7 Mar 2021 quarterly Mar 1980 - Mar 2021
Ivory Coast (%) -2.3 2019 yearly 1975 - 2019
Japan (USD mn) 17,106.0 May 2021 monthly Jan 1996 - May 2021
Jordan (%) -15.1 Mar 2021 quarterly Mar 1992 - Mar 2021
Kazakhstan (%) -3.4 Mar 2021 quarterly Dec 1997 - Mar 2021
Kenya (%) -5.4 Sep 2020 quarterly Mar 2009 - Sep 2020
South Korea (USD mn) 9,261.4 Feb 2021 monthly Jan 1980 - Feb 2021
Kosovo (%) -10.3 Mar 2021 quarterly Mar 2010 - Mar 2021
Kuwait (%) 31.3 Sep 2020 quarterly Mar 2012 - Sep 2020
Kyrgyzstan (%) -6.0 Mar 2021 quarterly Mar 2000 - Mar 2021
Laos (%) -0.6 2020 yearly 1984 - 2020
Latvia (%) -0.7 Mar 2021 quarterly Mar 1995 - Mar 2021
Lebanon (%) -20.5 2019 yearly 2002 - 2019
Lithuania (%) 4.4 Mar 2021 quarterly Mar 1993 - Mar 2021
Luxembourg (%) 2.1 Mar 2021 quarterly Mar 1995 - Mar 2021
Macau SAR, China (%) 33.6 2019 yearly 2002 - 2019
North Macedonia (%) -2.3 Mar 2021 quarterly Mar 2000 - Mar 2021
Malawi (%) -11.2 2019 yearly 1977 - 2019
Malaysia (%) 3.3 Mar 2021 quarterly Mar 2000 - Mar 2021
Malta (%) -1.3 Mar 2021 quarterly Mar 1995 - Mar 2021
Mauritius (%) -16.1 Mar 2021 quarterly Mar 2007 - Mar 2021
Mexico (%) -1.7 Mar 2021 quarterly Mar 1993 - Mar 2021
Moldova (%) -7.0 Dec 2020 quarterly Mar 1995 - Dec 2020
Mongolia (%) -6.4 Mar 2021 quarterly Mar 2000 - Mar 2021
Montenegro (%) -18.5 Mar 2021 quarterly Mar 2010 - Mar 2021
Morocco (%) -3.0 Mar 2021 quarterly Mar 2014 - Mar 2021
Mozambique (%) -19.7 2019 yearly 1980 - 2019
Nepal (%) -0.8 2020 yearly 2001 - 2020
Netherlands (%) 11.2 Mar 2021 quarterly Mar 1987 - Mar 2021
New Zealand (%) -5.9 Mar 2021 quarterly Jun 1987 - Mar 2021
Nigeria (%) -3.2 Sep 2020 quarterly Mar 2008 - Sep 2020
Norway (%) 10.1 Mar 2021 quarterly Mar 1981 - Mar 2021
Oman (%) -5.4 2019 yearly 1980 - 2019
Pakistan (%) -0.6 2021 yearly 1977 - 2021
Palestinian Territory (%) -7.2 Dec 2020 quarterly Mar 2011 - Dec 2020
Panama (%) 3.0 Dec 2020 quarterly Mar 2007 - Dec 2020
Paraguay (%) 1.5 Mar 2021 quarterly Mar 2000 - Mar 2021
Peru (%) -3.4 Mar 2021 quarterly Mar 1980 - Mar 2021
Philippines (%) -0.7 Mar 2021 quarterly Mar 1981 - Mar 2021
Poland (%) 2.3 Mar 2021 quarterly Mar 2000 - Mar 2021
Portugal (%) -1.0 Mar 2021 quarterly Mar 1996 - Mar 2021
Qatar (%) 0.2 Dec 2020 quarterly Mar 2011 - Dec 2020
Romania (%) -6.7 Mar 2021 quarterly Mar 1995 - Mar 2021
Russia (%) 6.5 Mar 2021 quarterly Mar 1994 - Mar 2021
Saudi Arabia (%) 4.6 Mar 2021 quarterly Mar 2006 - Mar 2021
Serbia (%) 1.2 Mar 2021 quarterly Mar 2007 - Mar 2021
Singapore (%) 19.6 Mar 2021 quarterly Mar 1986 - Mar 2021
Slovakia (%) 0.8 Mar 2021 quarterly Mar 1997 - Mar 2021
Slovenia (%) 7.0 Mar 2021 quarterly Mar 1995 - Mar 2021
South Africa (%) 5.0 Mar 2021 quarterly Mar 1960 - Mar 2021
Spain (%) -0.7 Mar 2021 quarterly Mar 1980 - Mar 2021
Sri Lanka (%) -2.9 Mar 2021 quarterly Mar 2002 - Mar 2021
Sudan (%) -12.3 2019 yearly 1977 - 2019
Sweden (%) 6.2 Mar 2021 quarterly Mar 1980 - Mar 2021
Switzerland (%) 9.1 Mar 2021 quarterly Mar 1983 - Mar 2021

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Norway Key Series

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Includes 231 key indicators for Norway, curated by CEIC analysts. Instant access to full history data in excel.
Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -3.4 Dec 2020 quarterly Dec 2002 - Dec 2020
Consolidated Fiscal Balance (USD mn) -6,806.912 Dec 2020 quarterly Mar 2002 - Dec 2020
Tax Revenue (USD mn) 26,908.636 Dec 2020 quarterly Mar 2002 - Dec 2020
Tax Revenue: % of GDP (%) 27.3 Mar 2021 quarterly Mar 2002 - Mar 2021
National Government Debt (USD mn) 183,003.3 2020 yearly 1995 - 2020
Government Debt: % of GDP (%) 46.0 2020 yearly 1995 - 2020
Forecast: Government Expenditure (NOK bn) 2,303.270 2026 yearly 1980 - 2026
Forecast: Government Net Debt (NOK bn) 1,827.950 2026 yearly 1980 - 2026
Forecast: Government Revenue (NOK bn) 2,497.400 2026 yearly 1980 - 2026
General Govt Taxes: GS: Value Added Tax (NOK mn) 311,600.000 2020 yearly 1995 - 2020
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) 2.156 2026 yearly 1980 - 2026
Trade Balance (USD mn) 2,970.8 Jun 2021 monthly Jan 1957 - Jun 2021
Total Exports (USD mn) 11,620.1 Jun 2021 monthly Jan 1975 - Jun 2021
Total Exports Growth (%) 70.7 Jun 2021 monthly Jan 1976 - Jun 2021
Aluminum: Exports (USD th) 3,197,169.054 2020 yearly 1995 - 2020
Exports: Medicament (USD th) 538,047.304 2020 yearly 1995 - 2020
Exports: Medicinal and Pharmaceutical Product (USD th) 241,321.039 2020 yearly 1995 - 2020
Total Imports (USD mn) 8,649.3 Jun 2021 monthly Jan 1976 - Jun 2021
Total Imports Growth (%) 9.5 Jun 2021 monthly Jan 1977 - Jun 2021
Imports: Medicament (USD th) 1,743,317.637 2020 yearly 1995 - 2020
Imports: Medicinal and Pharmaceutical Product (USD th) 670,516.422 2020 yearly 1995 - 2020
Total Exports to USA (USD mn) 244.717 Jan 2021 monthly Jan 1988 - Jan 2021
Total Imports from USA (USD mn) 483.470 Mar 2021 monthly Apr 1963 - Mar 2021
Total Exports to China (USD mn) 396.874 Apr 2021 monthly Mar 1977 - Apr 2021
Total Imports from China (USD mn) 862.616 Apr 2021 monthly Apr 1963 - Apr 2021
Exports (NOK mn) 97,877.000 Jun 2021 monthly Jan 1975 - Jun 2021
Exports: Crude Oil (NOK mn) 26,846.000 Jun 2021 monthly Jan 1974 - Jun 2021
Imports (NOK mn) 72,854.000 Jun 2021 monthly Jan 1976 - Jun 2021
Exports: United Kingdom (NOK th) 18,134,445.000 Jun 2021 monthly Jan 1988 - Jun 2021
Exports: Germany (NOK th) 16,041,985.000 Jun 2021 monthly Jan 1988 - Jun 2021
Exports: Sweden (NOK th) 7,728,477.000 Jun 2021 monthly Jan 1988 - Jun 2021
Exports: France (NOK th) 5,651,253.000 Jun 2021 monthly Jan 1988 - Jun 2021
Exports: Netherlands (NOK th) 9,812,240.000 Jun 2021 monthly Jan 1988 - Jun 2021
Exports: 1-Digit: Chemical and Related Product (NOK th) 6,288,448.000 Jun 2021 monthly Jan 1988 - Jun 2021
Exports: 1-Digit: Machinery and Transport Equipment (NOK th) 10,204,124.000 Jun 2021 monthly Jan 1988 - Jun 2021
Exports: 1-Digit: Manufactured Goods (NOK th) 9,715,735.000 Jun 2021 monthly Jan 1988 - Jun 2021
Exports: 1-Digit: Food and Live Animals (NOK th) 9,592,022.000 Jun 2021 monthly Jan 1988 - Jun 2021
Exports: 1-Digit: Mineral Fuels and Lubricants (NOK th) 56,231,953.000 Jun 2021 monthly Jan 1988 - Jun 2021
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) 3,217.1 Mar 2021 quarterly Mar 1994 - Mar 2021
Current Account Balance (USD mn) 11,080.9 Mar 2021 quarterly Mar 1981 - Mar 2021
Current Account Balance: % of GDP (%) 10.1 Mar 2021 quarterly Mar 1981 - Mar 2021
Foreign Direct Investment (USD mn) 260.5 Mar 2021 quarterly Mar 2005 - Mar 2021
Foreign Direct Investment: % of GDP (%) 0.2 Mar 2021 quarterly Mar 2005 - Mar 2021
Foreign Portfolio Investment (USD mn) 6,099.034 Mar 2021 quarterly Mar 1994 - Mar 2021
Foreign Portfolio Investment: % of GDP (%) 0.8 Dec 2020 quarterly Mar 1994 - Dec 2020
Foreign Portfolio Investment: Equity Securities (USD mn) 1,884.6 Dec 2020 quarterly Mar 2005 - Dec 2020
Foreign Portfolio Investment: Debt Securities (USD mn) -1,069.491 Dec 2020 quarterly Mar 2005 - Dec 2020
External Debt (USD mn) 710,685.0 Mar 2021 quarterly Mar 2003 - Mar 2021
External Debt: % of GDP (%) 180.1 2020 yearly 2003 - 2020
External Debt: Short Term (USD mn) 270,537.2 Mar 2021 quarterly Mar 2012 - Mar 2021
External Debt: Short Term: % of GDP (%) 64.7 2020 yearly 2012 - 2020
Total Debt: % of GDP (%) 707.8 Dec 2020 quarterly Dec 1995 - Dec 2020
Forecast: Current Account Balance (USD bn) 15.548 2026 yearly 1980 - 2026
Net International Investment Position (USD mn) 1,138,386.254 Dec 2020 quarterly Mar 2012 - Dec 2020
BoP: FA: Foreign Assets: Portfolio Investment (PI) (NOK mn) -126,008.000 Mar 2021 quarterly Mar 2005 - Mar 2021
BoP: FA: Foreign Liabilities: Portfolio Investment (PI) (NOK mn) 51,904.000 Mar 2021 quarterly Mar 2005 - Mar 2021
BoP: Financial Account (FA): Foreign Assets (NOK mn) 189,481.000 Mar 2021 quarterly Mar 2005 - Mar 2021
BoP: FA: Foreign Liabilities (NOK mn) 92,090.000 Mar 2021 quarterly Mar 2005 - Mar 2021
BoP: Current Account Balance (NOK mn) 94,301.000 Mar 2021 quarterly Mar 1981 - Mar 2021
BoP: FA: Foreign Assets: Reserve Assets (NOK mn) 25,233.000 Mar 2021 quarterly Mar 2005 - Mar 2021
BoP: BI: Net Current Transfers (NOK mn) -9,663.000 Mar 2021 quarterly Mar 1981 - Mar 2021
BoP: FA: Foreign Assets: Other Investments (NOK mn) 262,878.000 Mar 2021 quarterly Mar 2005 - Mar 2021
BoP: FA: Foreign Liabilities: Other Investments (NOK mn) 37,969.000 Mar 2021 quarterly Mar 2005 - Mar 2021
BoP: BI: Net Compensation of Employees and Investment Income (NOK mn) 30,611.000 Mar 2021 quarterly Mar 1981 - Mar 2021
BoP: FA: Foreign Assets: Direct Investment (DI) (NOK mn) 27,378.000 Mar 2021 quarterly Mar 2005 - Mar 2021
BoP: FA: Foreign Liabilities: Direct Investment (DI) (NOK mn) 2,217.000 Mar 2021 quarterly Mar 2005 - Mar 2021
IIP: Foreign Assets (NOK mn) 18,400,148.000 Mar 2021 quarterly Mar 2012 - Mar 2021
International Investment Position (IIP): Foreign Assets: Net (NOK mn) 10,017,688.000 Mar 2021 quarterly Mar 2012 - Mar 2021
IIP: Foreign Liabilities (NOK mn) 8,382,460.000 Mar 2021 quarterly Mar 2012 - Mar 2021
Gross External Debt (NOK mn) 6,063,991.000 Mar 2021 quarterly Mar 2012 - Mar 2021
Gross Debt: External Loan Debt: General Public (NOK mn) 1,222,575.000 Dec 2018 quarterly Dec 2015 - Dec 2018
Foreign Direct Investment: Stock (NOK mn) 1,357,695.000 2019 yearly 2004 - 2019
Direct Investment Abroad: Stock: Equity Capital: Netherlands (NOK mn) 230,733.000 2019 yearly 1998 - 2019
Direct Investment Abroad: Stock: Equity Capital: Singapore (NOK mn) 110,085.000 2019 yearly 1998 - 2019
Direct Investment Abroad: Stock: Equity Capital (NOK mn) 1,701,383.000 2017 yearly 2004 - 2017
Direct Investment Abroad: Stock: Equity Capital: Belgium (NOK mn) 4,531.000 2019 yearly 1998 - 2019
Direct Investment Abroad: Stock: Equity Capital: Sweden (NOK mn) 217,413.000 2019 yearly 1998 - 2019
Direct Investment Abroad: Stock: Equity Capital: Africa (NOK mn) 33,115.000 2019 yearly 2004 - 2019
No of Bankruptcies: SIC 2007 (Unit) 839.000 Mar 2021 quarterly Mar 2006 - Mar 2021
No of New Registered Enterprises (Unit) 20,717.000 Mar 2021 quarterly Mar 2001 - Mar 2021
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 0.5 2018 yearly 1990 - 2018
Household Debt: % of GDP (%) 120.1 Dec 2020 quarterly Dec 1995 - Dec 2020
Money Supply M1 (USD mn) 313,146.759 May 2021 monthly Dec 1992 - May 2021
Money Supply M2 (USD mn) 333,612.795 May 2021 monthly Dec 1992 - May 2021
M2 Growth (%) 9.0 Apr 2021 monthly Dec 1993 - Apr 2021
Reserve Requirement Ratio (%) -1.0 Jun 2021 monthly Oct 2011 - Jun 2021
Foreign Exchange Reserves (USD mn) 77,051.4 Jun 2021 monthly Jan 1999 - Jun 2021
Foreign Exchange Reserves: % of GDP (%) 18.021 Mar 2021 quarterly Mar 1999 - Mar 2021
Foreign Exchange Reserves: Months of Import (NA) 9.1 Jun 2021 monthly Jan 1999 - Jun 2021
Gold Reserves (USD mn) 0.000 Jun 2021 monthly Dec 1959 - Jun 2021
Total Deposits (USD mn) 527,508.925 May 2021 monthly May 2009 - May 2021
Total Deposits Growth (%) 9.2 Feb 2021 monthly May 2010 - Feb 2021
Domestic Credit (USD mn) 773,068.4 Apr 2021 monthly Dec 1985 - Apr 2021
Domestic Credit Growth (%) 4.4 Apr 2021 monthly Dec 1986 - Apr 2021
Debt Service Ratio: Households (%) 16.200 Sep 2020 quarterly Mar 1999 - Sep 2020
Debt Service Ratio: Private Non-Financial Sector (%) 27.100 Dec 2020 quarterly Mar 1999 - Dec 2020
Credit to Households (USD bn) 458.564 Dec 2020 quarterly Mar 1975 - Dec 2020
Credit to Private Non-Financial Sector (USD bn) 1,077.729 Dec 2020 quarterly Dec 1953 - Dec 2020
Household Debt (USD mn) 481,553.8 Mar 2021 quarterly Dec 1995 - Mar 2021
Total Loans (USD mn) 778,699.115 Dec 2020 monthly Mar 1996 - Dec 2020
Total Loans Growth (%) 1.81 Mar 2021 monthly Mar 1997 - Mar 2021
Private Debt: % of Nominal GDP (%) 154.38 Dec 2020 quarterly Mar 1996 - Dec 2020
Official Reserve Assets: FR: Foreign Currency (FC) (NOK mn) 632,887.000 Jun 2021 monthly Jan 1999 - Jun 2021
Official Reserve Assets (NOK mn) 695,531.000 Jun 2021 monthly Jan 1999 - Jun 2021
Bank Deposits: Households (NOK mn) 1,255,207.000 Jan 2019 monthly Dec 1989 - Jan 2019
Non Performing Loans Ratio: Enterprises (%) 0.800 2018 yearly 1990 - 2018
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) 21.4 Jun 2021 monthly Feb 2005 - Jun 2021
Purchasing Manager Index: sa (NA) 56.310 Feb 2019 monthly Feb 2004 - Feb 2019

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