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Data from World Bank. Forecasts by Sigmanomics Forecast Engine.
NorwayNorway Current account balance (% of GDP) held to 17.44 Percentage of GDP in January 2023
World BankYearlyReleased January 2023
Norway Current account balance (% of GDP) held to 17.44 Percentage of GDP in January 2023.
Latest Release
17.44
Latest (2023)
17.44
Previous
World Bank
Source
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| USD/NOK | ▼ Inverse | −0.50 | FOREX | Moves against | → View |
| EUR/NOK | ▼ Inverse | −0.45 | FOREX | Moves against | → View |
| WTI Crude | ▲ Direct | +0.40 | COMMODITIES | Moves with | → View |
| EUR/USD | ▲ Direct | +0.30 | FOREX | Moves with | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Current Account Balance (% of GDP) (Norway) was reported at 13.97 Percent in December 2025. The reading fell from the previous value of 15.04 Percent. This is classified as a high-impact indicator released on a yearly basis.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged 15.39 Percent, up from the prior three at 14.86 Percent. In December readings over the past 3 years, Current Account Balance (% of GDP) has averaged 15.39 Percent.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/NOK (Bullish NOK). A secondary relationship exists with EUR/NOK, negatively correlated (Bullish NOK).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Interest Rate Decision (Aug 13).
Auto-generated from current model state · Refreshes on each release · Last update December 2025.
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Current account balance (% of GDP) - NO
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About Current account balance (% of GDP) — Norway
DEFINITION
Norway's Current Account Balance (% of GDP) registered 13.967367 in December 2025, down from 15.041796 in December 2024, marking a decline in surplus. The decrease signals a contraction in the current account position compared to the previous year. Market participants will monitor upcoming trade and fiscal data for further clarity on Norway's external balance. Updated 7/1/26
WHY THIS INDICATOR MATTERS
Aggregate growth figures anchor cyclical positioning across asset classes and inform fiscal and monetary policy debate. Surprises against consensus typically move rates and currencies on release. Released annually.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/NOK (Bullish NOK, r=-0.50) — a useful reference for forex-focused traders.
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EXPECTED ZONE
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Economic Calendar - NO Events
| Friday, July 31, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 06:00 | NO | Unemployed Persons | 62.1 | 61.7 | 61.6 | 61.85 | Low |
| 06:00 | NO | Loan Growth YoY | 4.4 | 4.5 | 4.5 | 4.45 | Low |
| 06:00 | NO | Registered Jobless Rate | 2.1 | 1.9 | 2.1 | 2.10 | Low |
| 06:00 | NO | Unemployment Rate n.s.a | 2.1 | 1.9 | 2.1 | 2.10 | Low |