FX.co ★ Norway Current Account Surplus Widens in Q1

In the first quarter of 2025, Norway's current account surplus increased to NOK 286.5 billion, up from a revised figure of NOK 241.8 billion for the same quarter in the previous year. This growth was largely driven by an uptick in employee compensation and investment income, collectively known as primary income, which rose to NOK 59.2 billion from NOK 56.1 billion. Additionally, the goods surplus saw a significant boost, climbing to NOK 245.6 billion from NOK 193.2 billion in the first quarter of 2024. There were also improvements in other areas: the deficit in current transfers, or secondary income, reduced to NOK 12.9 billion from NOK 15.8 billion, and the services deficit contracted to NOK 5.4 billion from NOK 9.6 billion compared to the previous year.