Markets Actual Q2 Q3 Q4 Q1 2020
Currency 8.49 8.81 8.87 8.93 8.99 9.11
Stock Market (points) 964.39 943 931 920 908 886
Government Bond 10Y (%) 1.47 1.6 1.63 1.66 1.69 1.75
Overview Actual Q2 Q3 Q4 Q1 2020
GDP Growth Rate (%) -0.10 0.5 0.5 0.4 0.4 0.6
GDP Annual Growth Rate (%) 2.50 2.3 2.1 2.1 2.5 2.9
Unemployment Rate (%) 3.20 3.7 3.6 3.7 3.7 3.7
Inflation Rate (%) 2.50 2.4 2.4 2.3 2.1 1.7
Interest Rate (%) 1.25 1.25 1.25 1.25 1.5 1.5
Balance of Trade (NOK Million) 11344.00 13300 19700 23700 17800 18900
Current Account (NOK Million) 67779.00 60200 59800 45100 50700 51200
Current Account to GDP (%) 8.10 7.5 7.5 7.5 7 7
Government Debt to GDP (%) 36.20 32 32 32 30 30
Government Budget (% of GDP) 4.40 4.9 4.9 4.9 5.1 5.1
Business Confidence (Index Points) 6.90 9.1 9 8.2 8 6.5
Manufacturing PMI 54.40 54 53.2 53.2 54 54
Consumer Confidence (Index Points) 12.80 9 5 8 7 12
Retail Sales MoM (%) 1.80 -2 -0.6 0.5 0.4 0.6
Corporate Tax Rate (%) 24.00 24 24 24 24 24
Personal Income Tax Rate (%) 38.52 38.52 38.52 38.52 38.52 38.52
GDP Actual Q2 Q3 Q4 Q1 2020
GDP Growth Rate (%) -0.10 0.5 0.5 0.4 0.4 0.6
GDP Annual Growth Rate (%) 2.50 2.3 2.1 2.1 2.5 2.9
GDP (USD Billion) 398.83 450 450 450 470 470
GDP Constant Prices (NOK Million) 815323.00 816470 819457 833055 835706 857214
Gross National Product (NOK Million) 900014.00 886067 877385 950985 922514 978563
Gross Fixed Capital Formation (NOK Million) 211997.00 208314 212121 219165 217297 225521
GDP per capita (USD) 91218.62 92200 92200 92200 93000 93000
GDP per capita PPP (USD) 64800.06 65800 65800 65800 66300 66300
GDP From Agriculture (NOK Million) 5357.00 5372 3551 5496 5491 5655
GDP From Construction (NOK Million) 51364.00 50239 50783 51525 52648 53019
GDP From Manufacturing (NOK Million) 53009.00 52445 52779 54109 54334 55678
GDP From Mining (NOK Million) 1290.00 1226 1198 1263 1322 1300
GDP From Public Administration (NOK Million) 49428.00 49137 49269 50119 50664 51572
GDP From Utilities (NOK Million) 5076.00 5048 5106 5184 5203 5334
Labour Actual Q2 Q3 Q4 Q1 2020
Unemployment Rate (%) 3.20 3.7 3.6 3.7 3.7 3.7
Unemployed Persons 77793.00 76200 75900 74750 74700 74250
Labor Force Participation Rate (%) 69.90 70.4 70.6 70.6 70.7 70.9
Wages in Manufacturing (Index Points) 108.00 110 105 107 107 111
Wage Growth (%) 3.35 3 2.9 3.2 3 3.4
Population (Million) 5.30 5.34 5.34 5.34 5.38 5.38
Retirement Age Women 62.00 62 62 62 62 62
Retirement Age Men 62.00 62 62 62 62 62
Wages (NOK/Month) 47220.00 46937 45472 46832 46741 48424
Prices Actual Q2 Q3 Q4 Q1 2020
Inflation Rate (%) 2.50 2.4 2.4 2.3 2.1 1.7
Consumer Price Index CPI (Index Points) 110.50 111 112 112 113 114
Core Consumer Prices (Index Points) 108.30 109 109 110 110 112
Core Inflation Rate (%) 2.30 2.2 2.1 2.3 2.2 1.9
Producer Prices (Index Points) 114.10 117 122 119 117 121
Producer Prices Change (%) 0.40 1.2 1.9 2.6 2.3 2
Food Inflation (%) 1.00 1.5 2.2 2.1 2 1.8
Inflation Rate Mom (%) -0.30 0.5 0.6 0 0.4 0.2
CPI Housing Utilities (Index Points) 114.90 116 117 118 118 120
CPI Transportation (Index Points) 111.70 113 112 112 113 114
Money Actual Q2 Q3 Q4 Q1 2020
Interest Rate (%) 1.25 1.25 1.25 1.25 1.5 1.5
Interbank Rate (%) 1.55 1.52 1.52 1.52 1.77 1.77
Deposit Interest Rate (%) 0.00 0 0 0 0.25 0.25
Private Debt to GDP (%) 275.30 269 269 269 262 262
Lending Rate (%) 2.00 2 2 2 2.25 2.25
Loan Growth (%) 5.70 5.31 5.22 5.15 5.15 4.97
Trade Actual Q2 Q3 Q4 Q1 2020
Balance of Trade (NOK Million) 11344.00 13300 19700 23700 17800 18900
Current Account (NOK Million) 67779.00 60200 59800 45100 50700 51200
Current Account to GDP (%) 8.10 7.5 7.5 7.5 7 7
Imports (NOK Million) 66056.00 62100 61550 58700 64600 66200
Exports (NOK Million) 77400.00 75400 81210 82400 82400 85100
Crude Oil Production (BBL/D/1K) 1420.00 1500 1500 1490 1490 1470
Government Actual Q2 Q3 Q4 Q1 2020
Government Debt to GDP (%) 36.20 32 32 32 30 30
Government Budget (% of GDP) 4.40 4.9 4.9 4.9 5.1 5.1
Government Spending (NOK Million) 199131.00 199155 198911 201292 204109 207130
Government Spending to GDP (%) 48.70 48.5 48.5 48.5 48.8 48.8
Taxes Actual Q2 Q3 Q4 Q1 2020
Corporate Tax Rate (%) 24.00 24 24 24 24 24
Personal Income Tax Rate (%) 38.52 38.52 38.52 38.52 38.52 38.52
Sales Tax Rate (%) 25.00 25 25 25 25 25
Social Security Rate (%) 22.30 22.3 22.3 22.3 22.3 22.3
Social Security Rate For Companies (%) 14.10 14.1 14.1 14.1 14.1 14.1
Social Security Rate For Employees (%) 8.20 8.2 8.2 8.2 8.2 8.2
Business Actual Q2 Q3 Q4 Q1 2020
Business Confidence (Index Points) 6.90 9.1 9 8.2 8 6.5
Manufacturing PMI 54.40 54 53.2 53.2 54 54
Industrial Production (%) -4.20 1.9 2.3 2.5 2.2 2.5
Industrial Production Mom (%) 0.20 0.4 -0.7 0.5 0.5 0.4
Manufacturing Production (%) 4.30 2.8 2.4 2.5 2.3 2.7
Consumer Actual Q2 Q3 Q4 Q1 2020
Consumer Confidence (Index Points) 12.80 9 5 8 7 12
Retail Sales MoM (%) 1.80 -2 -0.6 0.5 0.4 0.6
Retail Sales YoY (%) 1.60 1.7 1.5 1.9 2 2
Consumer Spending (NOK Million) 373833.00 374741 374172 379787 383179 390801
Gasoline Prices (USD/Liter) 1.83 1.7 1.66 1.62 1.58 1.58
Household Spending (%) -1.20 -1.2 -0.4 0.6 0.5 0.4


This page has economic forecasts for Norway including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Norway economy.