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

The Norwegian economy grew by 0.4 percent on quarter in the three months to June 2018, following a downwardly revised 0.2 percent expansion in the previous period. Growth was mainly driven by a rebound in both fixed investment (5.4 percent vs -6.4 percent in Q1) and government spending (0.4 percent vs flat reading) and a faster increase in household consumption (1.1 percent vs 0.1 percent). Meanwhile, petroleum activities and ocean transport output contracted 0.7 percent (vs -0.6 percent in Q1), and net trade contributed negatively to the GDP growth, as imports (4.3 percent vs -2 percent) rose faster than exports (1.5 percent vs 0.6 percent). Mainland GDP, which excludes oil and gas exploration and transport, expanded by 0.5 percent in the second quarter, compared to 0.4 percent growth in the previous three-month period. GDP Growth Rate in Norway averaged 0.63 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
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 0.4% 0.2% 0.6%
2018-11-13 07:00 AM GDP Growth Rate QoQ 0.4% 0.5%


Norway GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.40 0.20 4.00 -2.60 percent [+]
GDP Annual Growth Rate 3.30 -0.70 10.20 -4.30 percent [+]
GDP 398.83 371.08 523.50 5.16 USD Billion [+]
GDP Constant Prices 805405.00 802358.00 805405.00 293066.00 NOK Million [+]
Gross National Product 881187.00 852860.00 881187.00 55200.00 NOK Million [+]
Gross Fixed Capital Formation 204223.00 193683.00 206820.00 70683.00 NOK Million [+]
GDP per capita 91218.62 90316.97 91617.28 23183.56 USD [+]
GDP per capita PPP 64800.06 64159.54 65083.26 42813.77 USD [+]
GDP From Agriculture 5445.00 5439.00 6287.00 2811.00 NOK Million [+]
GDP From Construction 49785.00 49060.00 49785.00 20757.00 NOK Million [+]
GDP From Manufacturing 51335.00 51166.00 57142.00 38563.00 NOK Million [+]
GDP From Mining 1208.00 1217.00 1776.00 572.00 NOK Million [+]
GDP From Public Administration 48528.00 48256.00 48528.00 22268.00 NOK Million [+]
GDP From Utilities 4981.00 4934.00 5751.00 2952.00 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 October of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
0.40 0.20 4.00 -2.60 1978 - 2018 percent Quarterly
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GDP growth rate by Country
Country Last
Singapore 4.70 Sep/18
Indonesia 4.21 Jun/18
United States 4.20 Jun/18
India 1.90 Jun/18
China 1.80 Jun/18
Australia 0.90 Jun/18
Russia 0.90 Jun/18
Turkey 0.90 Jun/18
Netherlands 0.80 Jun/18
Canada 0.70 Jun/18
Japan 0.70 Jun/18
Switzerland 0.70 Jun/18
South Korea 0.60 Jun/18
Spain 0.60 Jun/18
Germany 0.50 Jun/18
Euro Area 0.40 Jun/18
United Kingdom 0.40 Jun/18
Brazil 0.20 Jun/18
France 0.20 Jun/18
Italy 0.20 Jun/18
Saudi Arabia -0.05 Mar/18
Mexico -0.20 Jun/18
South Africa -0.70 Jun/18
Argentina -4.00 Jun/18


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