Norway GDP Growth Rate  1978-2017 | Data | Chart | Calendar | Forecast

The Norwegian economy grew by 1.1 percent quarter-on-quarter in the Q4 2016, following an upwardly revised 0.6 percent contraction in Q3 and beating market consensus of a 0.7 percent growth. It was the first expansion since the Q1 2016, mainly due to a surge in petroleum activities and ocean transport (4.3 percent from -3.2 percent in Q3). On the expenditure side, household consumption recovered (0.7 percent from stagnation) and government spending rose 0.5 percent (the same as in the previous period). Meanwhile, investment increased by 0.6 percent, slowing from a 1.2 percent rise in Q3. In contrast, exports fell 1.3 percent (+0.4 percent in Q3). Imports declined by 1.5 percent (-0.5 percent). Year-on-year, the economy expanded 1.8 percent, following a 0.9 percent contraction in Q3. In 2016, the economy advanced 1 percent, slowing from a 1.6 percent expansion in 2015. It is the lowest growth rate in 3 years, due to a slowdown in household spending and a fall in exports. GDP Growth Rate in Norway averaged 0.64 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.

Norway GDP Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
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%
2017-02-09 07:00 AM Q4 1.1% -0.6% 0.7% 0.8%
2017-05-16 06:00 AM Q1 1.1% 0.2%
2017-08-24 06:00 AM Q2 0.3%
2017-11-14 07:00 AM Q3 0.4%




Norway GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.10 -0.60 4.00 -2.60 percent [+]
GDP Annual Growth Rate 1.80 -0.90 10.20 -4.30 percent [+]
GDP 386.58 498.34 522.75 5.16 USD Billion [+]
GDP Constant Prices 809776.00 800927.00 809776.00 305665.00 NOK Million [+]
Gross National Product 823091.00 754757.00 833251.00 55200.00 NOK Million [+]
Gross Fixed Capital Formation 180313.00 179172.00 189994.00 67625.00 NOK Million [+]
GDP per capita 89492.84 89080.12 91593.67 23176.83 USD [+]
GDP per capita PPP 64272.16 63975.76 65780.94 43295.97 USD [+]
GDP From Agriculture 4939.00 4928.00 5787.00 2587.00 NOK Million [+]
GDP From Construction 45532.00 44774.00 45532.00 20183.00 NOK Million [+]
GDP From Manufacturing 49080.00 48935.00 54513.00 36767.00 NOK Million [+]
GDP From Mining 1161.00 1243.00 1638.00 528.00 NOK Million [+]
GDP From Public Administration 44155.00 43997.00 44155.00 21656.00 NOK Million [+]
GDP From Utilities 4539.00 4487.00 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 March of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.10 -0.60 4.00 -2.60 1978 - 2016 percent Quarterly
NSA



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