Current Account in Norway
Norway - Current AccountThe economy found its feet again in October as month-on-month growth rebounded, contrasting the decline in September, according to fresh GDP data. The improvement in October was primarily due to greater public and private consumption and fewer imports, although fixed investment and exports decreased. Moreover, separate data showed that industrial production increased in October across all sub-sectors compared to the previous month. However, quarter-on-quarter GDP growth slowed in the August-to-October period compared to July–September. Meanwhile, higher oil production appears to be buffering the public finances this year, with the fiscal surplus rising over a third year-on-year in NOK terms in January–September.
Norway - Current Account Data
|Current Account (% of GDP)||10.7||10.3||7.9||3.8||5.5|
5 years of economic forecasts for more than 30 economic indicators.
Norway Current Account Chart
Source: Statistics Norway and FocusEconomics calculations.
|Bond Yield||1.79||-0.65 %||Jan 16|
|Exchange Rate||8.54||-0.38 %||Jan 16|
|Stock Market||840||-0.08 %||Jan 16|
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January 10, 2019
Consumer prices were unchanged in December compared to the previous month, contrasting the 0.5% rise in November.
January 9, 2019
According to monthly GDP data released by Statistics Norway, total economic output fell 0.3% in November compared to the previous month in seasonally-adjusted terms, contrasting October’s revised 1.1% increase (previously reported: +0.8% month-on-month).
January 8, 2019
According to Statistics Norway, industrial production fell a seasonally-adjusted 1.5% in November compared to the previous month, contrasting the 2.3% rise in October.
December 13, 2018
In line with market analysts’ expectations, Norges Bank announced on 13 December that it was keeping the sight deposit rate unchanged at 0.75%.
December 11, 2018
According to monthly GDP data released by Statistics Norway, the total economy grew 0.8% in October over the previous month in seasonally-adjusted terms, contrasting September’s revised 0.5% contraction (previously reported: -0.6% month-on-month).