Current Account in Norway

Norway Current Account | Economic News & Forecasts

Norway - Current Account

The economy is expected to gain momentum in the second quarter, as GDP data for April and May posted firm month-on-month expansions, driven mainly by strong fixed investment. Furthermore, the external sector was robust, thanks to stronger exports of goods and services. Although private consumption declined on a tough base of comparison, underlying labor market conditions were healthy as reflected by the low unemployment rate and brisk year-on-year wage growth in Q2. Less positively, a weak June reading saw industrial production decline quarter-on-quarter in Q2, driven by a sharp contraction in extraction and related services output, which was only partially offset by a rebound in manufacturing. Looking at the third quarter, growth is likely faster than regional peers, aided by the strong labor market. That said, DNB’s July manufacturing PMI fell into contractionary territory on lower demand and output.

Norway - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)10.7  10.3  7.9  4.0  5.7  

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Norway Current Account Chart


Norway Current Account
Note: Current account balance as % of GDP.
Source: Statistics Norway and FocusEconomics calculations.

Norway Facts

ValueChangeDate
Bond Yield1.13-0.65 %Sep 04
Exchange Rate9.03-0.38 %Sep 04
Stock Market859-0.08 %Sep 04

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