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

The Norwegian economy shrank 0.5 percent quarter-on-quarter in the third quarter of 2016, following a stagnation in the previous three months and missing market consensus. It was the first contraction since the December quarter of 2015, driven by a decline in petroleum activities and ocean transport (-3.1 percent from -1.8 percent in Q2) while household consumption showed no growth (+0.4 percent in Q2) and government spending slowed (+0.4 percent from +0.7 percent). In contrast, investment grew by 2.6 percent, rebounding from a 0.2 percent fall in Q2. Exports also rose 1.1 percent (from -1.4 percent in Q2) while imports went up at a slower 0.3 percent (from -2.6 percent). Year-on-year, the economy contracted 0.9 percent, following a 2.5 percent expansion in the previous quarter. It was the first contraction since the June quarter 2014. GDP Growth Rate in Norway averaged 0.63 percent from 1978 until 2016, reaching an all time high of 4.00 percent in the fourth quarter of 1994 and a record low of -2.60 percent in the third quarter of 1987.

Norway GDP Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-05-12 08:00 AM Q1 1% -1.3% 0.1% 1.25%
2016-08-31 08:00 AM Q2 0.0% 1% 0.1% 0.8%
2016-11-15 07:00 AM Q3 -0.5% 0.0% 0.0% 0.3%
2017-02-16 09:00 AM Q4
2017-05-12 08:00 AM Q1
2017-08-31 08:00 AM Q2




Norway GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.50 0.00 4.00 -2.60 percent [+]
GDP Annual Growth Rate -0.90 2.50 10.20 -4.30 percent [+]
GDP 388.31 500.52 522.75 5.16 USD Billion [+]
GDP Constant Prices 800841.00 804760.00 808870.00 305665.00 NOK Million [+]
Gross National Product 758609.00 774512.00 833251.00 55200.00 NOK Million [+]
Gross Fixed Capital Formation 181363.00 176704.00 190750.00 67625.00 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 4918.00 4946.00 5787.00 2587.00 NOK Million [+]
GDP From Construction 44701.00 44518.00 44701.00 20183.00 NOK Million [+]
GDP From Manufacturing 48861.00 49740.00 54425.00 36767.00 NOK Million [+]
GDP From Mining 1222.00 1062.00 1638.00 528.00 NOK Million [+]
GDP From Public Administration 44023.00 43887.00 44023.00 21656.00 NOK Million [+]
GDP From Utilities 4461.00 4434.00 5317.00 2729.00 NOK Million [+]



Norway GDP Growth Rate Notes

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 December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
-0.50 0.00 4.00 -2.60 1978 - 2016 percent Quarterly
NSA



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