Current account balance (credit less debit), Net (credits less debits) in Norway
Norway: Current account balance (credit less debit), Net (credits less debits) was 71.65 billion in 2024. ◆ Volatile
Current account balance (credit less debit), Net (credits less debits) in Norway, 2005–2024
Source: International Monetary Fund.
Analysis
In 2024, current account balance (credit less debit), net (credits less debits) in Norway stood at 71.65 billion.
That represents a change of down 14.8% on the previous year and up 30.3% over ten years.
Over the whole period, current account balance (credit less debit), net (credits less debits) in Norway peaked at 170.71 billion in 2022 and was at its lowest, 4.21 billion, in 2020.
Norway ranks 10th of 198 countries on this measure, in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Current account balance (credit less debit), Net (credits less debits) in Norway, year by year
| Year | Value | Change |
|---|---|---|
| 2005 | 49.97 billion | — |
| 2006 | 55.91 billion | +11.9% |
| 2007 | 49.73 billion | -11.1% |
| 2008 | 72.92 billion | +46.6% |
| 2009 | 45.17 billion | -38.1% |
| 2010 | 50.26 billion | +11.3% |
| 2011 | 66.45 billion | +32.2% |
| 2012 | 63.50 billion | -4.4% |
| 2013 | 53.45 billion | -15.8% |
| 2014 | 54.96 billion | +2.8% |
| 2015 | 31.11 billion | -43.4% |
| 2016 | 14.77 billion | -52.5% |
| 2017 | 21.65 billion | +46.6% |
| 2018 | 34.96 billion | +61.5% |
| 2019 | 11.92 billion | -65.9% |
| 2020 | 4.21 billion | -64.7% |
| 2021 | 74.50 billion | +1668.9% |
| 2022 | 170.71 billion | +129.1% |
| 2023 | 84.10 billion | -50.7% |
| 2024 | 71.65 billion | -14.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 54.74 billion | 45.17 billion | 72.92 billion | 5 |
| 2010s | 40.30 billion | 11.92 billion | 66.45 billion | 10 |
| 2020s | 81.03 billion | 4.21 billion | 170.71 billion | 5 |
Countries ranked near Norway
- 7 Republic of Korea 99.04 billion compare
- 8 Singapore 96.02 billion compare
- 9 Switzerland 72.01 billion compare
- 11 Russian Federation 63.36 billion compare
- 12 Spain 54.93 billion compare
- 13 Hong Kong, China 52.55 billion compare
More financial sector data for Norway
- Net domestic credit (current LCU), per capita 1.08 million current LCU per person (2024)
- Net domestic credit (current LCU), per unit of GDP 12.01 current LCU per US$ of GDP (2024)
- Net domestic credit (current LCU), annual growth rate 3.18 % change on previous year (2024)
- Gold reserves at 35 SDRs per ounce 0 SDR (2025)
- Gold reserves at market value 0 SDR (2025)
- Reserves excluding gold, foreign exchange 55.94 billion SDR (2025)
- Reserves excluding gold 62.43 billion SDR (2025)
- Total reserves (gold at market value) 62.43 billion SDR (2025)
- Total reserves (gold at national valuation) 62.43 billion SDR (2025)
- Total reserves (gold at national valuation) (SDR), per capita 11,126 SDR per person (2025)
Frequently asked questions
- What is current account balance (credit less debit), net (credits less debits) in Norway?
- Current account balance (credit less debit), net (credits less debits) in Norway was 71.65 billion in 2024, according to International Monetary Fund.
- What is the highest current account balance (credit less debit), net (credits less debits) recorded in Norway?
- The highest recorded value was 170.71 billion in 2022.
- What is the lowest current account balance (credit less debit), net (credits less debits) recorded in Norway?
- The lowest recorded value was 4.21 billion in 2020.
- How does Norway rank for current account balance (credit less debit), net (credits less debits)?
- Norway ranks 10th out of 198 countries with data for 2024.
- Is current account balance (credit less debit), net (credits less debits) rising or falling in Norway?
- Over the last ten years it is up 30.3%. The long-run trend across the full record is volatile.
- Where does this Norway data come from?
- The figures come from International Monetary Fund, published as part of Current account balance (credit less debit), Net (credits less debits) (US dollar). Statizoid updates them automatically from the source API.
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About this data
The World and Country Group Aggregates (historically called BOPSY) is an annual publication, released each November, of major balance of payments and international investment position components for countries, country groups, and the world.