FX.co ★ Norway Current Account Surplus Narrows in Q1

Norway’s current account recorded a surplus of NOK 266.8 billion in the first quarter of 2026, down from NOK 271.1 billion in the same period a year earlier. The narrowing surplus was mainly driven by a wider deficit in the services balance, which rose to NOK 13.78 billion from NOK 9.0 billion, and by a smaller surplus in the goods balance, which declined to NOK 239.9 billion from NOK 242.6 billion. At the same time, the deficit in current transfers (secondary income) widened to NOK 12.0 billion from NOK 11.5 billion. In contrast, primary income, which includes compensation of employees and investment income, increased to NOK 52.7 billion from NOK 49.1 billion a year earlier.