Norway GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Norway contracted 2.70 percent in the first quarter of 2013 over the same quarter of the previous year. GDP Annual Growth Rate in Norway is reported by the Statistics Norway. Historically, from 1979 until 2013, Norway GDP Annual Growth Rate averaged 2.64 Percent reaching an all time high of 9.80 Percent in March of 1980 and a record low of -4.40 Percent in June of 2009. In Norway, the annual growth rate in GDP measures the change in the value of the goods and services produced by the country economy during the period of a year. This page includes a chart with historical data for Norway GDP Annual Growth Rate.

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GDP Annual Growth Rate | Notes

The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.

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