Norway - External balance on goods and services

External balance on goods and services (current US$)

The latest value for External balance on goods and services (current US$) in Norway was ($3,042,322,000) as of 2020. Over the past 50 years, the value for this indicator has fluctuated between $78,323,930,000 in 2008 and ($3,777,590,000) in 1977.

Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services). Data are in current U.S. dollars.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1970 ($79,799,520)
1971 ($370,470,100)
1972 $131,295,300
1973 ($86,544,800)
1974 ($728,017,800)
1975 ($1,901,318,000)
1976 ($3,003,940,000)
1977 ($3,777,590,000)
1978 $168,246,800
1979 $1,237,732,000
1980 $3,882,208,000
1981 $4,581,061,000
1982 $3,168,268,000
1983 $4,797,983,000
1984 $5,426,454,000
1985 $4,722,933,000
1986 ($2,663,529,000)
1987 ($2,081,781,000)
1988 ($595,059,100)
1989 $3,569,701,000
1990 $7,486,301,000
1991 $9,420,784,000
1992 $8,642,529,000
1993 $7,557,125,000
1994 $7,559,369,000
1995 $9,182,189,000
1996 $14,331,300,000
1997 $12,992,340,000
1998 $2,764,841,000
1999 $11,685,690,000
2000 $28,791,950,000
2001 $28,957,930,000
2002 $25,683,760,000
2003 $29,082,230,000
2004 $34,844,230,000
2005 $49,395,270,000
2006 $58,518,240,000
2007 $53,776,550,000
2008 $78,323,930,000
2009 $44,089,660,000
2010 $48,321,470,000
2011 $64,151,680,000
2012 $66,987,190,000
2013 $56,707,740,000
2014 $46,498,810,000
2015 $22,162,240,000
2016 $7,301,071,000
2017 $13,950,030,000
2018 $25,056,500,000
2019 $6,000,455,000
2020 ($3,042,322,000)

External balance on goods and services (current LCU)

The value for External balance on goods and services (current LCU) in Norway was -28,646,000,000 as of 2020. As the graph below shows, over the past 50 years this indicator reached a maximum value of 441,747,000,000 in 2008 and a minimum value of -28,646,000,000 in 2020.

Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services). Data are in current local currency.

Source: World Bank national accounts data, and OECD National Accounts data files.

Year Value
1970 -570,000,000
1971 -2,614,000,000
1972 865,000,000
1973 -499,000,000
1974 -4,033,000,000
1975 -9,938,000,000
1976 -16,391,000,000
1977 -20,110,000,000
1978 882,000,000
1979 6,268,000,000
1980 19,175,000,000
1981 26,293,000,000
1982 20,448,000,000
1983 35,008,000,000
1984 44,288,000,000
1985 40,604,000,000
1986 -19,696,000,000
1987 -14,026,000,000
1988 -3,878,000,000
1989 24,647,000,000
1990 46,862,000,000
1991 61,074,000,000
1992 53,709,000,000
1993 53,611,000,000
1994 53,351,000,000
1995 58,171,000,000
1996 92,434,000,000
1997 91,900,000,000
1998 20,861,000,000
1999 91,139,000,000
2000 253,421,000,000
2001 260,381,000,000
2002 205,054,000,000
2003 205,908,000,000
2004 234,878,000,000
2005 318,229,000,000
2006 375,295,000,000
2007 315,222,000,000
2008 441,747,000,000
2009 277,249,000,000
2010 292,063,000,000
2011 359,545,000,000
2012 389,698,000,000
2013 333,158,000,000
2014 293,020,000,000
2015 178,720,000,000
2016 61,329,000,000
2017 115,390,000,000
2018 203,772,000,000
2019 52,804,000,000
2020 -28,646,000,000

External balance on goods and services (constant LCU)

The value for External balance on goods and services (constant LCU) in Norway was 213,708,000,000 as of 2020. As the graph below shows, over the past 50 years this indicator reached a maximum value of 530,522,000,000 in 2001 and a minimum value of -2,984,000,000 in 1971.

Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services). Data are in constant local currency.

Source: World Bank national accounts data, and OECD National Accounts data files.

Year Value
1970 7,988,000,000
1971 -2,984,000,000
1972 29,366,000,000
1973 14,880,000,000
1974 5,720,000,000
1975 4,859,000,000
1976 3,313,000,000
1977 4,709,000,000
1978 89,171,000,000
1979 95,327,000,000
1980 105,120,000,000
1981 107,600,000,000
1982 93,285,000,000
1983 130,322,000,000
1984 146,739,000,000
1985 152,279,000,000
1986 123,655,000,000
1987 153,478,000,000
1988 193,798,000,000
1989 245,230,000,000
1990 287,579,000,000
1991 325,320,000,000
1992 352,301,000,000
1993 357,207,000,000
1994 397,460,000,000
1995 413,921,000,000
1996 460,804,000,000
1997 474,359,000,000
1998 434,577,000,000
1999 472,370,000,000
2000 493,959,000,000
2001 530,522,000,000
2002 521,603,000,000
2003 512,998,000,000
2004 470,144,000,000
2005 423,192,000,000
2006 349,645,000,000
2007 287,366,000,000
2008 261,608,000,000
2009 305,492,000,000
2010 245,226,000,000
2011 202,550,000,000
2012 195,929,000,000
2013 130,786,000,000
2014 148,705,000,000
2015 178,720,000,000
2016 164,597,000,000
2017 165,560,000,000
2018 136,196,000,000
2019 95,797,000,000
2020 213,708,000,000

External balance on goods and services (% of GDP)

External balance on goods and services (% of GDP) in Norway was -0.84 as of 2020. Its highest value over the past 50 years was 16.94 in 2008, while its lowest value was -9.10 in 1977.

Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1970 -0.62
1971 -2.54
1972 0.76
1973 -0.38
1974 -2.68
1975 -5.78
1976 -8.36
1977 -9.10
1978 0.36
1979 2.33
1980 6.02
1981 7.20
1982 5.06
1983 7.79
1984 8.74
1985 7.22
1986 -3.38
1987 -2.21
1988 -0.58
1989 3.48
1990 6.25
1991 7.73
1992 6.61
1993 6.27
1994 5.95
1995 6.04
1996 8.76
1997 8.05
1998 1.79
1999 7.20
2000 16.81
2001 16.65
2002 13.14
2003 12.71
2004 13.17
2005 15.99
2006 16.93
2007 13.41
2008 16.94
2009 11.42
2010 11.27
2011 12.87
2012 13.15
2013 10.85
2014 9.33
2015 5.74
2016 1.98
2017 3.50
2018 5.73
2019 1.48
2020 -0.84

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts