Norway Current Account Surplus Narrows in Q2

Norway’s current account surplus narrowed to NOK 217.9 billion in the second quarter of 2025 from NOK 218.7 billion in the same period of the previous year. The decrease was mainly due to a decline in the goods account surplus, which fell to NOK 154.6 billion from NOK 191.5 billion a year ago, as well as a widening deficit in current transfers (secondary income), which expanded to NOK 20.1 billion from NOK 15.8 billion. On the other hand, the services account shortfall contracted to NOK 12.4 billion from NOK 13 billion, while the surplus in the compensation of employees and investment income (primary income) went up to NOK 95.8 billion from NOK 56.1 billion a year earlier.