Current account balance as a share of GDP in Norway
Norway: Current account balance as a share of GDP was 14.8% in 2024. ▼ Falling
Current account balance as a share of GDP in Norway, 2000–2024
Source: International Monetary Fund – processed by Our World in Data. Measured in %.
Analysis
In 2024, current account balance as a share of gdp in Norway stood at 14.8%.
Compared with earlier readings it is down 14.9% on the previous year and up 35.3% over ten years.
Over the whole period, current account balance as a share of gdp in Norway peaked at 28.6% in 2022 and was at its lowest, 1.1%, in 2020.
That places Norway 11th out of 193 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 share of GDP in Norway, year by year
| Year | % | Change |
|---|---|---|
| 2000 | 14.6% | — |
| 2001 | 15.8% | +8.1% |
| 2002 | 12.4% | -21.6% |
| 2003 | 12.1% | -2.6% |
| 2004 | 12.4% | +3.1% |
| 2005 | 16.1% | +29.6% |
| 2006 | 16.1% | +0.0% |
| 2007 | 12.3% | -23.4% |
| 2008 | 15.7% | +27.0% |
| 2009 | 11.6% | -25.8% |
| 2010 | 11.7% | +0.2% |
| 2011 | 13.2% | +13.6% |
| 2012 | 12.4% | -6.6% |
| 2013 | 10.2% | -17.9% |
| 2014 | 10.9% | +7.8% |
| 2015 | 8.0% | -26.8% |
| 2016 | 4.0% | -50.3% |
| 2017 | 5.4% | +35.4% |
| 2018 | 8.0% | +47.5% |
| 2019 | 2.9% | -63.3% |
| 2020 | 1.1% | -60.6% |
| 2021 | 14.8% | +1187.0% |
| 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% | 13.2% | 10 |
| 2020s | 15.4% | 1.1% | 28.6% | 5 |
Countries ranked near Norway
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)
- Gross value added at basic prices (GVA) (current US$), annual growth 5.92 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current US$), per unit of GDP 0.9115 current US$ per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (current US$), per capita 86,220 current US$ per person (2025)
- Gross value added at basic prices (GVA) (current LCU), annual growth 2.47 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current LCU), per unit of GDP 9.48 current LCU per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (current LCU), per capita 896,328 current LCU per person (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), annual 1.02 % change on previous year (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), per unit 0.7957 constant 2015 US$ per US$ of GDP (2025)
Frequently asked questions
- What is current account balance as a share of gdp in Norway?
- Current account balance as a share of gdp in Norway was 14.8% in 2024, according to International Monetary Fund – processed by Our World in Data.
- What is the highest current account balance as a share of gdp recorded in Norway?
- The highest recorded value was 28.6% in 2022.
- What is the lowest current account balance as a share of gdp recorded in Norway?
- The lowest recorded value was 1.1% in 2020.
- How does Norway rank for current account balance as a share of gdp?
- Norway ranks 11th out of 193 countries with data for 2024.
- Is current account balance as a share of gdp rising or falling in Norway?
- Over the last ten years it is up 35.3%. The long-run trend across the full record is falling.
- Where does this Norway data come from?
- The figures come from International Monetary Fund – processed by Our World in Data, published as part of Current account balance as a share of GDP. Statizoid updates them automatically from the source API.
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About this data
Current account balance as a proportion of GDP (%).