Balance of payments

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Record high current account balance in the third quarter of 2021

In the third quarter of 2021, the Norwegian current account balance ended at NOK 158 billion, which is the highest level of the current account balance measured. This was mainly thanks to a large rise in the price of natural gas. The surplus on the goods and service balance was almost NOK 130 billion, while there was a surplus of NOK 28 billion on the balance of income and current transfers in the third quarter of 2021.

High prices on crude oil and natural gas led to a large trade surplus

In the second quarter of 2021, the Norwegian trade balance of goods and services ended at NOK 60 billion. This was mainly due to a large rise in the prices of crude oil and natural gas. There was a surplus of NOK 33 billion on the balance of income and current transfers in the second quarter of 2021. Net dividends from abroad were record high.

High prices on crude oil and natural gas led to a large trade surplus

In the first quarter of 2021, the Norwegian trade balance of goods and services ended at NOK 73 billion. This was mainly due to a large rise in the prices of crude oil and natural gas. There was also a surplus of NOK 21 billion on the balance of income and current transfers in first quarter of 2021. Dividends payed on direct investments in Norway were small at the same time as we received high dividends from abroad, especially through the Government Pension Fund Global.

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