Current account balance as a proportion of GDP in Norway
Norway: Current account balance as a proportion of GDP was 14.8% in 2024. ▼ Falling
Latest (2024)
14.8%
Change on year
down 14.9%
World rank
10th
of 177 countries
All-time high
28.6%
in 2022
All-time low
1.1%
in 2020
Years of data
25
2000–2024
Current account balance as a proportion of GDP in Norway, 2000–2024
Source: United Nations Statistics Division, SDG Global Database.
Analysis
In 2024, current account balance as a proportion of gdp in Norway stood at 14.8%.
The figure is down 14.9% on the previous year and up 35.2% over ten years.
Over the whole period, current account balance as a proportion of gdp in Norway peaked at 28.6% in 2022 and was at its lowest, 1.1%, in 2020.
That places Norway 10th out of 177 countries with data for 2024, putting it in the top 10%.
The long-run direction has been consistently falling across the 25 years of available data.
Current account balance as a proportion of GDP in Norway, year by year
| Year | Value | Change |
|---|---|---|
| 2000 | 14.6% | — |
| 2001 | 15.8% | +8.1% |
| 2002 | 12.4% | -21.6% |
| 2003 | 12.1% | -2.5% |
| 2004 | 12.4% | +3.0% |
| 2005 | 16.1% | +29.6% |
| 2006 | 16.1% | -0.0% |
| 2007 | 12.4% | -23.4% |
| 2008 | 15.7% | +27.0% |
| 2009 | 11.6% | -25.8% |
| 2010 | 11.7% | +0.1% |
| 2011 | 13.3% | +13.7% |
| 2012 | 12.4% | -6.6% |
| 2013 | 10.2% | -17.9% |
| 2014 | 11.0% | +7.8% |
| 2015 | 8.0% | -26.8% |
| 2016 | 4.0% | -50.3% |
| 2017 | 5.4% | +35.4% |
| 2018 | 7.9% | +47.5% |
| 2019 | 2.9% | -63.3% |
| 2020 | 1.1% | -60.7% |
| 2021 | 14.8% | +1191.9% |
| 2022 | 28.6% | +93.4% |
| 2023 | 17.4% | -39.2% |
| 2024 | 14.8% | -14.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 13.9% | 11.6% | 16.1% | 10 |
| 2010s | 8.7% | 2.9% | 13.3% | 10 |
| 2020s | 15.4% | 1.1% | 28.6% | 5 |
Countries ranked near Norway
- 7 Andorra 16.1% compare
- 8 Bermuda 15.4% compare
- 9 Democratic Republic of the Congo -3.8% compare
- 9 Papua New Guinea 15.0% compare
- 11 Djibouti 14.7% compare
- 12 Brunei Darussalam 14.5% compare
- 12 Timor-Leste -31.5% compare
- 13 Guyana 13.9% compare
More economy & growth data for Norway
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 0.7416 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 1.42 Percent per annum (2029)
- Imports of goods and services (constant 2015 US$), annual growth rate 2.58 % change on previous year (2025)
- Imports of goods and services (constant 2015 US$), per unit of GDP 0.2882 constant 2015 US$ per US$ of GDP (2025)
- Imports of goods and services (constant 2015 US$), per capita 27,262 constant 2015 US$ per person (2025)
- External balance on goods and services (current US$), annual growth -5.99 % change on previous year (2025)
- External balance on goods and services (current LCU), annual growth -9.05 % change on previous year (2025)
- Agriculture, forestry, and fishing, value added (current LCU), annual -0.9479 % change on previous year (2025)
- Agriculture, forestry, and fishing, value added (current LCU), per 0.1707 current LCU per US$ of GDP (2025)
- Agriculture, forestry, and fishing, value added (current LCU), per 16,147 current LCU per person (2025)
Frequently asked questions
- What is current account balance as a proportion of gdp in Norway?
- Current account balance as a proportion of gdp in Norway was 14.8% in 2024, according to United Nations Statistics Division, SDG Global Database.
- What is the highest current account balance as a proportion of gdp recorded in Norway?
- The highest recorded value was 28.6% in 2022.
- What is the lowest current account balance as a proportion of gdp recorded in Norway?
- The lowest recorded value was 1.1% in 2020.
- How does Norway rank for current account balance as a proportion of gdp?
- Norway ranks 10th out of 177 countries with data for 2024.
- Is current account balance as a proportion of gdp rising or falling in Norway?
- Over the last ten years it is up 35.2%. The long-run trend across the full record is falling.
- Where does this Norway data come from?
- The figures come from United Nations Statistics Division, SDG Global Database, published as part of Current account balance as a proportion of GDP (%). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 25 observations, free to reuse under UN SDG Global Database (open, attribution requested).