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

The Norwegian economy shrank 1.2 percent on quarter in the last three months of 2015, following a downwardly revised 1.6 percent expansion in the previous period. Petroleum activities and ocean transport declined 5.6 percent and gross fixed capital formation went down 0.9 percent while household consumption increased 0.6 percent and government spending went up 0.3 percent. Exports contracted 2.9 percent while imports rose 1.6 percent. Year-on-year, the economy grew a meager 0.1 percent and considering full 2015, the GDP expanded 1.6 percent. GDP Growth Rate in Norway averaged 0.65 percent from 1978 until 2015, 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
-1.20 1.80 4.00 -2.60 1978 - 2015 percent Quarterly
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 May of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-08-20 09:00 AM Q2 -0.1% 0.1% -0.1% 0.1%
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%
2016-05-20 08:00 AM Q1 -1.2% 1.25%
2016-08-19 08:00 AM Q2 -0.10%
2016-11-17 09:00 AM Q3 0.31%

Norway GDP Last Previous Highest Lowest Unit
GDP Growth Rate -1.20 1.80 4.00 -2.60 percent [+]
GDP Annual Growth Rate 0.10 3.00 10.20 -4.30 percent [+]
GDP 499.82 522.35 522.35 5.16 USD Billion [+]
GDP Constant Prices 796998.00 809395.00 809395.00 285627.00 NOK Million [+]
Gross National Product 801181.00 768000.00 816000.00 54049.00 NOK Million [+]
Gross Fixed Capital Formation 170225.00 174805.00 179708.00 53394.00 NOK Million [+]
GDP per capita 67245.60 66511.86 69094.75 17331.90 USD [+]
GDP per capita PPP 64020.45 63321.90 65780.91 43295.95 USD [+]
GDP From Agriculture 5122.00 4883.00 5512.00 2400.00 NOK Million [+]
GDP From Construction 43159.00 45175.00 45175.00 19092.00 NOK Million [+]
GDP From Manufacturing 49453.00 50210.00 52938.00 35898.00 NOK Million [+]
GDP From Mining 1213.00 1346.00 1677.00 541.00 NOK Million [+]
GDP From Public Administration 41682.00 41573.00 41682.00 20552.00 NOK Million [+]
GDP From Utilities 4175.00 4214.00 5100.00 2618.00 NOK Million [+]




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