FX.co ★ Norway Current Account Surplus Widens in Q4

Norway’s current account recorded a surplus of NOK 153.1 billion in the final quarter of 2025, up from NOK 150.1 billion in the same period a year earlier. The improvement was mainly driven by a sharp turnaround in primary income, as compensation of employees and investment income shifted to a surplus of NOK 32.1 billion from a deficit of NOK 23.7 billion in the fourth quarter of the previous year. In addition, the deficit in current transfers (secondary income) narrowed slightly to NOK 24.9 billion from NOK 25.5 billion. Offsetting these gains, the goods trade surplus shrank to NOK 163.3 billion from NOK 209.8 billion, while the services account deficit widened to NOK 17.4 billion from NOK 10.5 billion over the same period.