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

The Norwegian economy shrank by 0.3 percent on quarter in the three months to December of 2017, following an upwardly revised 0.8 percent expansion in the previous period and missing market consensus of a 0.5 percent growth. The contraction was mainly driven by a fall in petroleum activities and ocean transport (-4.7 percent vs 1.2 percent in Q3). Also, net trade contributed negatively to the GDP, as exports declined 2.6 percent (vs -0.8 percent in Q3) while imports jumped by 3.2 percent (vs -3.3 percent in Q3). At the same time, government spending expanded at a slower pace (0.5 percent vs 0.7 percent), while household consumption rose sharply (0.8 percent vs 0.6 percent) and fixed investment rebounded (1.6 percent vs -0.9 percent). Mainland GDP, which excludes oil and gas exploration and transport, grew by 0.6 percent, compared with 0.7 percent in Q3. For full 2017, the economy expanded by 1.8 percent, after a 1.1 percent expansion in 2016. GDP Growth Rate in Norway averaged 0.64 percent from 1978 until 2017, 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
2017-08-24 06:00 AM GDP Growth Rate QoQ 1.1% 0.2% 0.4%
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 -0.3% 0.7%
2018-08-23 06:00 AM GDP Growth Rate QoQ 0.6%
2018-11-13 07:00 AM GDP Growth Rate QoQ 0.5%


Norway GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.30 0.80 4.00 -2.60 percent [+]
GDP Annual Growth Rate 1.40 3.40 10.20 -4.30 percent [+]
GDP 370.56 386.58 522.75 5.16 USD Billion [+]
GDP Constant Prices 806598.00 808857.00 808857.00 296903.00 NOK Million [+]
Gross National Product 860529.00 793296.00 860529.00 55200.00 NOK Million [+]
Gross Fixed Capital Formation 193570.00 190531.00 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 5323.00 5181.00 6155.00 2752.00 NOK Million [+]
GDP From Construction 48616.00 47947.00 48616.00 20792.00 NOK Million [+]
GDP From Manufacturing 51865.00 51068.00 57198.00 38577.00 NOK Million [+]
GDP From Mining 1275.00 1366.00 1849.00 596.00 NOK Million [+]
GDP From Public Administration 46921.00 46822.00 46921.00 21954.00 NOK Million [+]
GDP From Utilities 4959.00 4898.00 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
-0.30 0.80 4.00 -2.60 1978 - 2017 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
Netherlands 0.80 Dec/17
Spain 0.70 Mar/18
Germany 0.60 Dec/17
Switzerland 0.60 Dec/17
Australia 0.40 Dec/17
Canada 0.40 Dec/17
Euro Area 0.40 Mar/18
Japan 0.40 Dec/17
France 0.30 Mar/18
Italy 0.30 Mar/18
Brazil 0.10 Dec/17
United Kingdom 0.10 Mar/18
Russia -0.38 Dec/17
Indonesia -1.70 Dec/17


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