Norway Q2 Mainland GDP Growth Beats Forecasts

2025-08-21 06:30 By Chusnul Chotimah 1 min. read

Norway’s mainland GDP, which excludes the petroleum-based offshore sector, grew by 0.6% quarter-on-quarter in the three months to June 2025, exceeding forecasts of 0.3%.

This followed an upwardly revised 1.2% expansion in the previous quarter, marking the second consecutive quarter of growth.

The Q2 expansion was primarily driven by increased activity in manufacturing, retail trade, and fishing, trapping, and aquaculture.

However, the growth was partly offset by declines in electricity, gas, and hot water supply.

The solid performance in the first half of 2025 comes after a prolonged period of subdued growth in the Norwegian economy.

“The first half of 2025 shows stronger growth in the mainland economy than we have seen in quite some time,” said Pål Sletten, Head of the National Accounts Section at Statistics Norway.

On a year-on-year basis, the mainland economy expanded by 0.5% in Q2, sharply easing from an upwardly revised 3.1% in the first quarter.



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