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

The Norwegian economy grew by 0.2 percent quarter-on-quarter in the first quarter of 2017, easing from an upwardly revised 1.2 percent expansion in the previous period and in line with market consensus. The slowdown was mainly driven by a contraction in petroleum activities and ocean transport (-1.5 percent from 4.8 in Q4). By contrast, fixed investment rebounded 0.5 percent (from -0.5 percent in Q4), household consumption advanced 0.6 percent (from 0.7 percent in Q4) and government spending expanded 0.4 percent (from 0.6 percent in Q4). Also, exports went up further (0.9 percent from 0.1 percent in Q4) while imports increased at a faster 2.8 percent (from -1.5 percent in Q4). Mainland GDP, which excludes the volatile oil and shipping sectors, rose by 0.6 percent in the first quarter, following a 0.4 percent growth in the previous three months. GDP Growth Rate in Norway averaged 0.64 percent from 1978 until 2017, 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)
2016-11-15 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 0.2% 1.2% 0.2% 0.5%
2017-08-24 06:00 AM Q2 0.2% 0.4%
2017-11-14 07:00 AM Q3 0.4%




Norway GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.20 1.20 4.00 -2.60 percent [+]
GDP Annual Growth Rate 2.60 1.90 10.20 -4.30 percent [+]
GDP 386.58 498.34 522.75 5.16 USD Billion [+]
GDP Constant Prices 813116.00 811338.00 813116.00 305665.00 NOK Million [+]
Gross National Product 825719.00 824451.00 833251.00 55200.00 NOK Million [+]
Gross Fixed Capital Formation 180798.00 179883.00 190563.00 67625.00 NOK Million [+]
GDP per capita 89590.80 89080.12 91593.67 23176.83 USD [+]
GDP per capita PPP 64272.16 63975.76 65780.94 43295.97 USD [+]
GDP From Agriculture 5015.00 4966.00 5787.00 2587.00 NOK Million [+]
GDP From Construction 45934.00 45569.00 45934.00 20183.00 NOK Million [+]
GDP From Manufacturing 49503.00 49044.00 54516.00 36767.00 NOK Million [+]
GDP From Mining 1149.00 1158.00 1638.00 528.00 NOK Million [+]
GDP From Public Administration 44552.00 44293.00 44552.00 21656.00 NOK Million [+]
GDP From Utilities 4600.00 4578.00 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 May of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
0.20 1.20 4.00 -2.60 1978 - 2017 percent Quarterly
NSA



gdp growth rate by Country

Last
Turkey 3.80 Dec/16
India 1.60 Dec/16
China 1.30 Mar/17
United States 1.20 Mar/17
Australia 1.10 Dec/16
South Korea 0.90 Mar/17
Spain 0.80 Mar/17
Mexico 0.70 Mar/17
Canada 0.60 Dec/16
Germany 0.60 Mar/17
Euro Area 0.50 Mar/17
Japan 0.50 Mar/17
Netherlands 0.40 Mar/17
France 0.30 Mar/17
Italy 0.20 Mar/17
United Kingdom 0.20 Mar/17
Switzerland 0.10 Dec/16
Indonesia -0.34 Mar/17
Russia -0.57 Sep/15
Brazil -0.90 Dec/16