Balance of Payments: Current Account: Balance (Revenue Minus Expenditure) for Norway
NORB6BLTT02STSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16.23
Year-over-Year Change
-13.46%
Date Range
1/1/1981 - 10/1/2024
Summary
The Balance of Payments: Current Account measures Norway's net transactions with the rest of the world, providing insight into the country's economic and financial position.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The current account balance represents the difference between a country's total exports and total imports of goods, services, investment income, and unilateral transfers. It is a key indicator of a nation's economic performance and international competitiveness.
Methodology
The data is collected and calculated by Norway's national statistics agency based on international accounting standards.
Historical Context
Policymakers and analysts use the current account balance to evaluate a country's external position and guide decisions on monetary, fiscal, and trade policies.
Key Facts
- Norway has run a current account surplus since the 1990s.
- Exports of oil and gas are a major contributor to Norway's current account surplus.
- The current account balance is an important indicator of a country's economic health and global competitiveness.
FAQs
Q: What does this economic trend measure?
A: The Balance of Payments: Current Account measures Norway's net transactions with the rest of the world, including exports, imports, investment income, and transfers.
Q: Why is this trend relevant for users or analysts?
A: The current account balance is a key indicator of a country's economic and financial position, providing insights into its international competitiveness and ability to fund domestic investment.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Norway's national statistics agency based on international accounting standards for balance of payments.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the current account balance to evaluate a country's external position and guide decisions on monetary, fiscal, and trade policies.
Q: Are there update delays or limitations?
A: The current account data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Balance of Payments: Current Account: Balance (Revenue Minus Expenditure) for Norway (NORB6BLTT02STSAQ), retrieved from FRED.