Norway GDP Growth Rate  1978-2018 | Data | Chart | Calendar | Forecast

The Norwegian economy grew by 0.6 percent on quarter in the three months to March of 2018, following a 0.3 percent contraction in the previous period, due to a rebound in petroleum activities and ocean transport (1 percent vs -5.1 percent in Q4). Also, net trade contributed positively to the GDP growth, as exports grew by 0.4 percent (vs -2.8 percent in Q4) while imports declined by 1.3 percent (vs 4.1 percent in Q4). In addition, government spending increased at a faster 0.6 percent (vs 0.5 percent in Q4), while household consumption stalled (vs 0.9 percent in Q4). Mainland GDP, which excludes oil and gas exploration and transport, expanded by 0.6 percent, compared to 0.7 percent in the previous three-month period. GDP Growth Rate in Norway averaged 0.64 percent from 1978 until 2018, 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 Actual Previous Consensus TEForecast
2017-11-14 07:00 AM GDP Growth Rate QoQ 0.7% 1.1% 0.5% 0.5%
2018-02-09 07:00 AM GDP Growth Rate QoQ -0.3% 0.8% 0.5% 0.6%
2018-05-15 06:00 AM GDP Growth Rate QoQ 0.6% -0.3% 0.7%
2018-08-23 06:00 AM GDP Growth Rate QoQ 0.6% 0.6%
2018-11-13 07:00 AM GDP Growth Rate QoQ 0.5%


Norway GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 -0.30 4.00 -2.60 percent [+]
GDP Annual Growth Rate 0.30 1.60 10.20 -4.30 percent [+]
GDP 370.56 386.58 522.75 5.16 USD Billion [+]
GDP Constant Prices 812179.00 807102.00 812179.00 296903.00 NOK Million [+]
Gross National Product 848278.00 868972.00 868972.00 55200.00 NOK Million [+]
Gross Fixed Capital Formation 185182.00 195166.00 198284.00 69756.00 NOK Million [+]
GDP per capita 89818.32 89619.49 91594.18 23176.96 USD [+]
GDP per capita PPP 63810.79 63669.53 65072.43 42829.64 USD [+]
GDP From Agriculture 5389.00 5351.00 6155.00 2752.00 NOK Million [+]
GDP From Construction 48589.00 48547.00 48589.00 20792.00 NOK Million [+]
GDP From Manufacturing 51869.00 51985.00 57163.00 38577.00 NOK Million [+]
GDP From Mining 1346.00 1276.00 1849.00 596.00 NOK Million [+]
GDP From Public Administration 47518.00 46996.00 47518.00 21954.00 NOK Million [+]
GDP From Utilities 4973.00 4925.00 5618.00 2883.00 NOK Million [+]


Norway GDP Growth Rate

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 2018.

Actual Previous Highest Lowest Dates Unit Frequency
0.60 -0.30 4.00 -2.60 1978 - 2018 percent Quarterly
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GDP growth rate by Country
Country Last
United States 2.30 Mar/18
India 1.80 Dec/17
Turkey 1.80 Dec/17
China 1.40 Mar/18
Mexico 1.10 Mar/18
South Korea 1.10 Mar/18
Spain 0.70 Mar/18
Switzerland 0.60 Dec/17
Netherlands 0.50 Mar/18
Australia 0.40 Dec/17
Canada 0.40 Dec/17
Euro Area 0.40 Mar/18
France 0.30 Mar/18
Germany 0.30 Mar/18
Italy 0.30 Mar/18
Brazil 0.10 Dec/17
United Kingdom 0.10 Mar/18
Japan -0.20 Mar/18
Russia -0.38 Dec/17
Indonesia -0.42 Mar/18


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