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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 | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/NOK | ▼ Inverse | −0.50 | FOREX | Bullish NOK | → View |
| EUR/NOK | ▼ Inverse | −0.45 | FOREX | Bullish NOK | → View |
| WTI Crude | ▲ Direct | +0.40 | COMMODITIES | Watch | → View |
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → 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 15.58 Percent in December 2024. The reading fell from the previous value of 17.85 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 20.69 Percent, up from the prior three at 6.29 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).
Auto-generated from current model state · Refreshes on each release · Last update December 2024.
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Current account balance (% of GDP) - NO
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About Current account balance (% of GDP) — Norway
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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