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||1978 - 2015
Norway is rich in natural resources, including oil and gas, hydropower, fish, forests and some minerals. It is the third largest shipping nation in the world and aquaculture is the second largest export industry. The government controls key areas, such as the petroleum sector, as it accounts for 30 percent of government revenues. After solid GDP growth in 2004-07, the economy slowed in 2008, and contracted in 2009, before returning to positive growth during the subsequent years. However, Norway's economy may slow down in 2015 due to the sharp drop in oil prices. On the expenditure side, household consumption is the main component of GDP and accounts for 41 percent of its total use, followed by 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. Content for - Norway GDP Growth Rate - was last refreshed on Wednesday, November 25, 2015.