Norwegian Krone
The currency of Norway is the krone (NOK).
Norway is a major exporter of energy. Its balance of trade has historically been steady and positive. It jumped higher with COVID-19 and has since returned closer to historical levels.
Norway has the fourth-highest GDP per capita1 in the world.
About Norway
GDP1
$579
Billion
USD
Major Exports2
Gas
Crude Oil
Fish
Major Export Partners2
UK
Germany
Sweden
Budget Deficit3
9.1%
Trade Flows4
1.3
Trillion
NOK
Pros and Cons of the Norwegian Krone
- Backed by a strong, resource-rich economy5
- Supported by one of the world’s most robust sovereign wealth funds6
- Independent monetary policy with credible institutions7
- Highly sensitive to oil-price fluctuations8
- Low liquidity compared with major currencies9
- Vulnerable to global risk-off periods9
1. https://tradingeconomics.com/country-list/gdp-per-capita
2. https://tradingeconomics.com/country-list/exports;
3. https://tradingeconomics.com/country-list/government-budget?continent=world
4. https://tradingeconomics.com/country-list/balance-of-trade
5. https://www.norskpetroleum.no/en/economy/#:~:text=The%20oil%20and%20gas%20sector,of%20the%20Norwegian%20welfare%20state.
6. https://www.nbim.no/en/the-fund/about-the-fund/
7. https://www.norges-bank.no/en/topics/Monetary-policy/
8. https://www.eia.gov/international/analysis/country/NOR
9. https://www.bis.org/statistics/rpfx22_fx.htm
How to Buy the Norwegian Krone
Currency CD
Term
APY
3 Month
2.02%
6 Month
2.02%
9 Month
2.02%
12 Month
2.02%
Currency Deposit Account
$2,500 minimum initial trade per currency. After initial trade, no minimum trade amount required.
Balance
APY
All Balances
0.00%
Available Currencies
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