The Norwegian economy advanced 0.5 percent on quarter in the three months to December 2018, slightly below the previous period's 0.6 percent growth and market consensus of 0.6 percent. Household spending rose 0.4 percent, reversing a 0.1 percent contraction in Q3; and government spending growth was unchanged at 0.1 percent. Meanwhile, fixed investment shrank 0.8 percent (vs 1.4 percent in Q3); petroleum activities and ocean transport dropped 2.7 percent (vs 2 percent in Q3); and net external demand contributed negatively to the growth as exports slumped 1.9 percent (vs 0.7 percent in Q3) and imports declined at a softer 1 percent (vs -0.4 percent in Q3). Mainland GDP, which excludes the largely petroleum-based offshore sector, expanded 0.9 percent in the fourth quarter, much faster than a 0.4 percent growth in Q3. 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.

GDP Growth Rate in Norway is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Norway to stand at 0.70 in 12 months time. In the long-term, the Norway GDP Growth Rate is projected to trend around 0.80 percent in 2020, according to our econometric models.

Norway GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
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 0.6% 0.4% 0.6% 0.7%
2018-11-13 07:00 AM GDP Growth Mainland QoQ 0.3% 0.7% 0.6% 0.6%
2019-02-08 07:00 AM GDP Growth Rate QoQ 0.5% 0.6% 0.6% 0.7%
2019-05-13 06:00 AM GDP Growth Rate QoQ 0.5%
2019-08-20 06:00 AM GDP Growth Rate QoQ
2019-11-12 07:00 AM GDP Growth Rate QoQ


Norway GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.50 0.60 4.00 -2.60 percent [+]
GDP Annual Growth Rate 1.70 1.20 10.20 -4.30 percent [+]
GDP 398.83 371.08 523.50 5.16 USD Billion [+]
GDP Constant Prices 815202.00 811395.00 815202.00 293066.00 NOK Million [+]
Gross National Product 931640.00 867686.00 931640.00 55200.00 NOK Million [+]
Gross Fixed Capital Formation 210357.00 211997.00 211997.00 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 5524.00 4025.00 6287.00 2811.00 NOK Million [+]
GDP From Construction 50479.00 50265.00 50479.00 20757.00 NOK Million [+]
GDP From Manufacturing 53045.00 52232.00 57142.00 38563.00 NOK Million [+]
GDP From Mining 1224.00 1184.00 1776.00 572.00 NOK Million [+]
GDP From Public Administration 49190.00 48836.00 49190.00 22268.00 NOK Million [+]
GDP From Utilities 5087.00 5058.00 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 February of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.50 0.60 4.00 -2.60 1978 - 2018 percent Quarterly
SA




Country Last Previous
United States 3.40 Sep/18
South Africa 2.20 Sep/18
China 1.50 Dec/18
India 1.50 Sep/18
Singapore 1.40 Dec/18
South Korea 1.00 Dec/18
Brazil 0.80 Sep/18
Spain 0.70 Dec/18
Canada 0.50 Sep/18
Netherlands 0.50 Dec/18
Australia 0.30 Sep/18
France 0.30 Dec/18
Japan 0.30 Dec/18
Mexico 0.30 Dec/18
Russia 0.30 Sep/18
Euro Area 0.20 Dec/18
United Kingdom 0.20 Dec/18
Germany 0.00 Dec/18
Saudi Arabia -0.05 Mar/18
Italy -0.20 Dec/18
Switzerland -0.20 Sep/18
Argentina -0.70 Sep/18
Turkey -1.10 Sep/18
Indonesia -1.69 Dec/18


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