National Accounts: GDP by Expenditure: Constant Prices: Government Final Consumption Expenditure for Norway
Norwegian Krone, Annual
NAEXKP03NOA189S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
981,009,000,000.00
Year-over-Year Change
20.39%
Date Range
1/1/1978 - 1/1/2022
Summary
This economic trend measures the annual exchange rate of the Norwegian Krone against the U.S. Dollar. It is a key indicator for analyzing Norway's international trade and financial position.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Norwegian Krone/U.S. Dollar exchange rate is an important metric for understanding Norway's economic performance and competitiveness. Economists and policymakers use this data to assess the country's trade balance, import/export dynamics, and broader macroeconomic trends.
Methodology
This data is collected and published annually by the U.S. Federal Reserve.
Historical Context
The Krone exchange rate is closely watched by investors, businesses, and government agencies to gauge Norway's economic health and guide policy decisions.
Key Facts
- Norway is one of the world's largest exporters of oil and natural gas.
- The Norwegian Krone is a floating currency, with its value determined by foreign exchange markets.
- Fluctuations in the Krone/Dollar rate can significantly impact Norway's import/export competitiveness.
FAQs
Q: What does this economic trend measure?
A: This trend measures the annual average exchange rate between the Norwegian Krone and the U.S. Dollar. It provides insight into the relative value of Norway's currency.
Q: Why is this trend relevant for users or analysts?
A: The Krone/Dollar exchange rate is a key indicator for assessing Norway's trade balance, competitiveness, and broader economic performance. It is closely monitored by policymakers, investors, and businesses.
Q: How is this data collected or calculated?
A: This data is collected and published annually by the U.S. Federal Reserve, which tracks foreign exchange rates.
Q: How is this trend used in economic policy?
A: Governments and central banks closely monitor exchange rate trends to inform monetary and fiscal policies that can influence a country's trade balance and international competitiveness.
Q: Are there update delays or limitations?
A: This annual exchange rate data is published with a short delay, typically within a few months after the end of the calendar year. There may be some limitations in capturing intra-year exchange rate volatility.
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Citation
U.S. Federal Reserve, Norwegian Krone, Annual (NAEXKP03NOA189S), retrieved from FRED.