Name: Norway Full Year GDP Growth
Creator: TRADING ECONOMICS
License: https://creativecommons.org/licenses/by/4.0/

The Norwegian economy contracted 0.7 percent in 2020, after a 0.7 percent expansion in 2019. source: Statistics Norway

Full Year GDP Growth in Norway averaged 2.78 percent from 1971 until 2020, reaching an all time high of 6.10 percent in 1984 and a record low of -1.70 percent in 2009. This page includes a chart with historical data for Norway Full Year GDP Growth. Norway Full Year GDP Growth - values, historical data and charts - was last updated on July of 2022.

Full Year GDP Growth in Norway is expected to reach 3.90 percent by the end of 2022, according to Trading Economics global macro models and analysts expectations. In the long-term, the Norway Full Year GDP Growth is projected to trend around 3.70 percent in 2023 and 3.00 percent in 2024, according to our econometric models.

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Related	Last	Previous	Unit	Reference
GDP Growth Rate	-1.00	0.00	percent	Mar 2022
GDP Annual Growth Rate	4.80	5.30	percent	Mar 2022
GDP	362.52	405.51	USD Billion	Dec 2020

Norway Full Year GDP Growth

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.