Norway GDP Growth Rate  1978-2016 | Data | Chart | Calendar | Forecast

The Norwegian economy advanced 1 percent on the quarter in the first three months of 2016, recovering from an upwardly revised 1.3 percent contraction in the previous period. The figure came in much better than an expected 0.1 percent growth, as petroleum activities and ocean transport expanded 3.3 percent (-5.5 percent in Q4 2015), government spending advanced 0.9 percent (+0.4 percent in Q4) and household consumption grew 0.3 percent (+0.5 percent in Q4). In contrast, fixed investment shrank for the second period in a row by 0.9 percent (-1.3 percent in Q4) and net external demand continued to contribute negatively, as exports contracted 1.2 percent and imports fell at a slower 0.4 percent. Year-on-year, the economy grew by a better-than-expected 0.7 percent, rebounding from a 0.1 percent expansion in the previous quarter. GDP Growth Rate in Norway averaged 0.65 percent from 1978 until 2016, reaching an all time high of 4 percent in the fourth quarter of 1994 and a record low of -2.60 percent in the third quarter of 1987. GDP Growth Rate in Norway is reported by the Statistics Norway.

Norway GDP Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
1.00 -1.30 4.00 -2.60 1978 - 2016 percent Quarterly
NSA
Norway is one of the wealthiest countries in the world. Its wealth was build on the back of natural resources including oil and gas, hydropower and fish and supported by developed shipping industry. Components of the GDP on the expenditure side: household consumption (41 percent), gross fixed capital formation (24 percent) and government expenditure (22 percent). Exports of goods and services account for 38 percent of GDP while imports account for 30 percent, adding 8 percent of total GDP. This page provides - Norway GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Norway GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on August of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-11-17 09:00 AM Q3 1.8% 0.0% 0.2% 0.1%
2016-02-16 09:00 AM Q4 -1.2% 1.6% 0.2% 0.5%
2016-05-12 08:00 AM Q1 1% -1.3% 0.1% 1.25%
2016-08-31 08:00 AM Q2 1% 0.1% 0.8%
2016-11-17 07:00 AM Q3 0.5%

Norway GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.00 -1.30 4.00 -2.60 percent [+]
GDP Annual Growth Rate 0.70 0.10 10.20 -4.30 percent [+]
GDP 388.31 500.52 522.75 5.16 USD Billion [+]
GDP Constant Prices 804747.00 796919.00 807822.00 285627.00 NOK Million [+]
Gross National Product 761591.00 801181.00 816000.00 54049.00 NOK Million [+]
Gross Fixed Capital Formation 168951.00 170556.00 183802.00 53394.00 NOK Million [+]
GDP per capita 89741.21 89338.75 91593.63 23176.83 USD [+]
GDP per capita PPP 64450.54 64161.49 65780.91 43295.95 USD [+]
GDP From Agriculture 5029.00 4979.00 5512.00 2400.00 NOK Million [+]
GDP From Construction 43591.00 43106.00 43591.00 19092.00 NOK Million [+]
GDP From Manufacturing 49350.00 49577.00 53466.00 35898.00 NOK Million [+]
GDP From Mining 1288.00 1210.00 1677.00 541.00 NOK Million [+]
GDP From Public Administration 41946.00 41693.00 41946.00 20552.00 NOK Million [+]
GDP From Utilities 4228.00 4187.00 5100.00 2618.00 NOK Million [+]




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Nigeria -13.70 Mar/16
Senegal -14.10 Mar/16