Norway | Economic Forecasts | 2016-2020 Outlook

Overview Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
GDP Growth Rate -0.50 0.2 0.2 0.3 0.4 0.8 percent [+]
Unemployment Rate 4.80 5 5.2 5.1 4.8 4.3 percent [+]
Inflation Rate 3.70 2.9 3.2 2.9 2.7 2 percent [+]
Interest Rate 0.50 0.5 0.5 0.5 0.5 1.25 percent [+]
Balance of Trade 10360.56 8500 9161 9130 9095 9084 NOK Million [+]
Government Debt to GDP 31.70 36.78 37.75 38.71 39.68 42.72 percent [+]
MARKETS Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Currency 8.42 8.63 8.71 8.8 8.88 10.25 [+]
Stock Market 731.53 708 701 694 687 572 points [+]
Government Bond 10Y 1.75 1.67 1.68 1.7 1.72 1.98 percent [+]
GDP Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
GDP Growth Rate -0.50 0.2 0.2 0.3 0.4 0.8 percent [+]
GDP Annual Growth Rate -0.90 2.2 1.9 2.4 2.7 2.7 percent [+]
GDP 388.31 396 398 399 342 478 USD Billion [+]
GDP Constant Prices 800841.00 805999 808607 811489 814474 851277 NOK Million [+]
Gross National Product 758609.00 809291 794086 801419 804090 888858 NOK Million [+]
Gross Fixed Capital Formation 181363.00 183521 181119 185982 188543 231121 NOK Million [+]
GDP per capita 89741.21 89839 89879 89919 89959 90465 USD [+]
GDP per capita PPP 64450.54 64939 64997 65055 65113 65908 USD [+]
GDP From Agriculture 4918.00 4880 4910 4900 4900 4900 NOK Million [+]
GDP From Construction 44701.00 44858 45009 45127 45213 45526 NOK Million [+]
GDP From Manufacturing 48861.00 48700 48756 48665 48796 48728 NOK Million [+]
GDP From Mining 1222.00 1201 1203 1225 1190 1182 NOK Million [+]
GDP From Public Administration 44023.00 44262 44420 44596 44759 46605 NOK Million [+]
GDP From Utilities 4461.00 4456 4454 4452 4452 4452 NOK Million [+]
LABOUR Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Unemployment Rate 4.80 5 5.2 5.1 4.8 4.3 percent [+]
Employed Persons 2663.00 2662 2670 2673 2677 2703 Thousand [+]
Unemployed Persons 101998.00 103000 103000 103000 103212 90000 [+]
Labor Force Participation Rate 71.20 70.9 71 71 70.94 72.1 percent [+]
Long Term Unemployment Rate 1.20 1.28 1.33 1.38 1.42 1.79 percent [+]
Youth Unemployment Rate 10.90 10.99 11.03 11.01 11.02 11.02 percent [+]
Labour Costs 123.20 117 122 120 124 121 Index Points [+]
Productivity 120.82 122 123 123 123 126 Index Points [+]
Job Vacancies 56700.00 45248 53467 53918 48016 47410 [+]
Wages in Manufacturing 155.90 155 155 155 158 172 Index Points [+]
Wage Growth 7.44 7.05 6.47 8.25 9 11.92 percent [+]
Population 5.21 5.23 5.24 5.25 5.26 5.43 Million [+]
Retirement Age Women 67.00 67 67 67 67 67 [+]
Retirement Age Men 67.00 67 67 67 67 67 [+]
Employment Change -0.10 0.04 0.07 0.11 0.14 0.28 percent [+]
Employment Rate 67.40 100 78.94 72.2 92.21 73.71 percent [+]
Full Time Employment 1863.80 1851 1846 1855 1868 1845 Thousand [+]
Part Time Employment 675.20 674 675 676 664 673 Thousand [+]
Wages 43400.00 44438 44668 44899 45130 47476 NOK/Month [+]
PRICES Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Inflation Rate 3.70 2.9 3.2 2.9 2.7 2 percent [+]
Harmonised Consumer Prices 105.20 105 105 105 105 105 Index Points [+]
Consumer Price Index CPI 146.40 147 148 149 149 160 Index Points [+]
Core Consumer Prices 136.50 137 136 136 136 136 Index Points [+]
Core Inflation Rate 2.90 2.97 2.92 2.88 2.86 2.82 percent [+]
GDP Deflator 96.61 97.24 97.72 98.19 98.67 105 Index Points [+]
Producer Prices 208.80 210 210 210 210 210 Index Points [+]
Producer Prices Change -4.50 -3 -1.8 -0.5 -0.1 1.8 percent [+]
Export Prices 133.90 134 134 135 135 135 Index Points [+]
Import Prices 127.80 128 128 128 128 128 Index Points [+]
Food Inflation 3.20 3.27 3.26 3.28 3.29 3.3 percent [+]
Cpi Transportation 154.90 156 156 157 158 169 Index Points [+]
Inflation Rate Mom 0.50 0.4 0.3 0.5 0.29 0.4 percent [+]
MONEY Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Interest Rate 0.50 0.5 0.5 0.5 0.5 1.25 percent [+]
Interbank Rate 1.14 1.09 1.14 1.14 1.13 1.13 percent [+]
Money Supply M0 86454.00 104090 78773 80402 83602 83570 NOK Million [+]
Money Supply M1 1849109.00 1915591 1984147 2054499 2126962 3328752 NOK Million [+]
Money Supply M2 2017550.00 2039790 2060770 2065870 2075007 1983218 NOK Million [+]
Foreign Exchange Reserves 513764.00 513410 512820 512763 512750 512746 NOK Million [+]
Loans to Private Sector 1612861.00 1614848 1615963 1616977 1617880 1623605 NOK Million [+]
Deposit Interest Rate -0.50 -0.5 -0.5 -0.5 -0.5 -0.5 percent [+]
Central Bank Balance Sheet 7695627.00 7758252 7792766 7829771 7863885 8165977 NOK Millions [+]
Private Debt to GDP 278.69 279 279 279 278 273 percent [+]
Lending Rate 1.50 1.5 1.5 1.5 1.5 1.5 percent [+]
Loan Growth 5.00 5.02 4.99 4.98 4.98 4.94 percent [+]
TRADE Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Balance of Trade 10360.56 8500 9161 9130 9095 9084 NOK Million [+]
Exports 62068.54 60477 60987 60789 60711 60739 NOK Million [+]
Imports 51707.98 50584 51662 51250 51555 51522 NOK Million [+]
Current Account 40311.00 24787 24565 24261 23952 20295 NOK Million [+]
Current Account to GDP 9.00 7 7.5 7.5 9.53 9.2 percent [+]
External Debt 0.00 0 0 0 0 0 NOK Million [+]
Terms of Trade 104.77 105 104 104 105 104 Index Points [+]
Capital Flows 110010.00 62443 43816 89998 56894 72998 NOK Million [+]
Gold Reserves 36.70 36.76 36.76 36.76 36.76 36.76 Tonnes [+]
Crude Oil Production 1603.00 1633 1633 1632 1632 1632 BBL/D/1K [+]
Foreign Direct Investment 26658.00 -3771 32494 9381 -7530 8298 NOK Million [+]
Terrorism Index 2.08 1.62 1.56 1.5 1.45 1.32 [+]
Weapons Sales 155.00 123 131 139 141 135 USD Million [+]
GOVERNMENT Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Government Debt to GDP 31.70 36.78 37.75 38.71 39.68 42.72 percent [+]
Government Budget 5.70 7 7.22 7.44 7.66 9.12 percent of GDP [+]
Government Budget Value -18920.00 -29871 -14452 -20730 -21414 -26872 NOK Million [+]
Government Spending 180929.00 181625 182458 183237 184021 194235 NOK Million [+]
Government Spending to GDP 48.50 47.97 47.8 47.64 47.48 47.16 percent [+]
Government Revenues 272071.00 285346 295879 314209 274518 295522 NOK Million [+]
Government Debt 596070.00 507287 577687 498211 567338 474645 NOK Million [+]
Fiscal Expenditure 290991.00 328240 322565 343639 310311 386453 NOK Million [+]
Asylum Applications 255.00 852 1104 1076 1064 1065 persons [+]
Military Expenditure 7376.80 7376 7405 7434 7442 7723 USD Million [+]
BUSINESS Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Business Confidence -5.00 -1.5 -0.22 1.18 2.56 2.73 [+]
Manufacturing PMI 47.60 48.65 49.02 48.77 48.85 48.85 [+]
Industrial Production -12.40 0.3 0.6 1.5 1.3 2.5 percent [+]
Industrial Production Mom -5.60 -0.5 -1 2.1 -0.08 0.8 percent [+]
Manufacturing Production -5.60 0.2 0.5 0.8 1.89 2.7 percent [+]
Capacity Utilization 77.50 77.83 78.03 78.06 78.06 78 percent [+]
New Orders 102.50 113 99.05 112 101 112 Index Points [+]
Changes in Inventories 34289.00 37292 36906 38446 38870 38284 NOK Million [+]
Bankruptcies 389.00 351 428 398 388 383 Companies [+]
Car Registrations 13839.00 14130 14128 14131 14131 14131 Cars [+]
Competitiveness Index 5.44 5.44 5.44 5.44 5.44 5.43 Points [+]
Competitiveness Rank 11.00 10.97 10.97 10.97 10.97 13.38 [+]
Ease of Doing Business 6.00 7.63 7.96 8.13 8.3 7.7 [+]
Electricity Production 10554.00 12878 13108 11539 11472 12185 Gigawatt-hour [+]
Corruption Index 87.00 86.77 86.83 86.9 86.89 86.87 Points [+]
Corruption Rank 5.00 5.82 5.61 5.4 5.19 5.46 [+]
Steel Production 53.10 50.43 50.82 51.13 51.11 51.12 Thousand Tonnes [+]
Mining Production 8.40 3.56 2.42 1.94 1.75 1.63 percent [+]
CONSUMER Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Consumer Confidence 0.35 -2.4 -2.4 -2.4 -1.01 -1.06 [+]
Retail Sales MoM 0.90 0.2 0.5 0.5 0.6 0.9 percent [+]
Retail Sales YoY 0.20 -0.5 5.1 5.1 -0.31 1.4 percent [+]
Consumer Spending 333175.00 334775 336182 337611 339168 358939 NOK Million [+]
Disposable Personal Income 342808.00 350504 348009 354616 354548 396889 NOK Million [+]
Personal Savings 5.80 8.7 8.8 8.8 6.17 8.4 percent [+]
Consumer Credit 3021221.00 3065429 3110070 3154518 3198828 3762816 NOK Million [+]
Household Spending -0.80 1 1.2 1.2 0.18 2.1 percent [+]
Households Debt To Gdp 96.80 101 102 103 103 107 percent of GDP [+]
Households Debt To Income 189.35 193 193 194 195 206 percent [+]
Gasoline Prices 1.63 1.63 1.62 1.64 1.63 1.63 USD/Liter [+]
HOUSING Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Housing Index 199.30 201 200 200 200 200 Index Points [+]
Building Permits 3359.00 2991 2806 2892 2911 2896 [+]
Housing Starts 2759.00 2959 2964 2966 2967 2967 [+]
Home Ownership Rate 82.80 83.57 83.64 83.7 83.76 83.93 percent [+]
New Home Sales 34123.00 34033 31322 33796 31539 32942 [+]
TAXES Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Corporate Tax Rate 25.00 25 25 25 25 25 percent [+]
Personal Income Tax Rate 38.70 38.7 38.7 38.7 38.7 38.7 percent [+]
Sales Tax Rate 25.00 25 25 25 25 25 percent [+]
Social Security Rate 22.30 22.3 22.3 22.3 22.3 22.3 percent [+]
Social Security Rate For Companies 14.10 14.1 14.1 14.1 14.1 14.1 percent [+]
Social Security Rate For Employees 8.20 8.2 8.2 8.2 8.2 8.2 percent [+]





Economic Forecasts for Norway including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Norway economy. 12/4/2016