Markets Actual Q2 Q3 Q4 Q1 2020
Currency 8.51 8.67 8.72 8.78 8.84 8.96
Stock Market (points) 1010.73 966 954 942 930 906
Government Bond 10Y (%) 1.77 1.59 1.62 1.65 1.68 1.74
Overview Actual Q2 Q3 Q4 Q1 2020
GDP Growth Rate (%) 0.50 0.5 0.5 0.4 0.4 0.6
GDP Annual Growth Rate (%) 1.70 2.3 2.1 2.1 2.5 2.9
Unemployment Rate (%) 3.90 3.7 3.6 3.7 3.7 3.7
Inflation Rate (%) 2.90 2.6 2.4 2.3 2.1 1.7
Interest Rate (%) 1.00 1.15 1.15 1.15 1.2 1.55
Balance of Trade (NOK Million) 13869.80 13300 19700 23700 17800 18900
Current Account (NOK Million) 46795.00 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) 9.00 9.1 9 8.2 8 6.5
Manufacturing PMI 56.80 54 53.2 53.2 54 54
Consumer Confidence (Index Points) 12.70 9 5 8 7 12
Retail Sales MoM (%) -1.30 -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 (%) 0.50 0.5 0.5 0.4 0.4 0.6
GDP Annual Growth Rate (%) 1.70 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) 815202.00 816037 819915 832321 835582 856459
Gross National Product (NOK Million) 931640.00 888046 876797 951204 954931 978789
Gross Fixed Capital Formation (NOK Million) 210357.00 211407 214223 214774 215616 221003
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) 5524.00 5567 4067 5640 5662 5804
GDP From Construction (NOK Million) 50479.00 50275 50793 51539 51741 53034
GDP From Manufacturing (NOK Million) 53045.00 52427 52780 54159 54371 55730
GDP From Mining (NOK Million) 1224.00 1226 1196 1250 1255 1286
GDP From Public Administration (NOK Million) 49190.00 49129 49349 50223 50420 51679
GDP From Utilities (NOK Million) 5087.00 5053 5111 5194 5214 5344
Labour Actual Q2 Q3 Q4 Q1 2020
Unemployment Rate (%) 3.90 3.7 3.6 3.7 3.7 3.7
Unemployed Persons 78316.00 76200 75900 74750 74700 74250
Labor Force Participation Rate (%) 70.10 70.4 70.6 70.6 70.7 70.9
Wages in Manufacturing (Index Points) 103.90 110 105 107 107 111
Wage Growth (%) 2.97 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) 45380.00 46937 45472 46832 46741 48424
Prices Actual Q2 Q3 Q4 Q1 2020
Inflation Rate (%) 2.90 2.6 2.4 2.3 2.1 1.7
Consumer Price Index CPI (Index Points) 110.40 111 112 112 113 114
Core Consumer Prices (Index Points) 108.00 108 109 110 110 112
Core Inflation Rate (%) 2.70 1.9 2.1 2.3 2.2 1.9
Producer Prices (Index Points) 114.40 120 123 119 119 121
Producer Prices Change (%) 5.20 3.2 2.5 2.6 2.3 2
Food Inflation (%) 2.90 2.3 2.2 2.1 2 1.8
Inflation Rate Mom (%) 0.20 0.5 0.6 0 0.4 0.2
CPI Housing Utilities (Index Points) 115.20 116 117 118 118 120
CPI Transportation (Index Points) 111.00 113 112 112 113 114
Money Actual Q2 Q3 Q4 Q1 2020
Interest Rate (%) 1.00 1.15 1.15 1.15 1.2 1.55
Interbank Rate (%) 1.45 1.34 1.34 1.34 1.39 1.39
Deposit Interest Rate (%) 0.00 0 0 0 0.05 0.05
Lending Rate (%) 2.00 2 2 2 2.05 2.05
Loan Growth (%) 5.70 5.31 5.22 5.15 5.15 4.97
Private Debt to GDP (%) 284.60 272 272 272 266 266
Trade Actual Q2 Q3 Q4 Q1 2020
Balance of Trade (NOK Million) 13869.80 13300 19700 23700 17800 18900
Current Account (NOK Million) 46795.00 60200 59800 45100 50700 51200
Current Account to GDP (%) 8.10 7.5 7.5 7.5 7 7
Imports (NOK Million) 65796.78 62100 61550 58700 64600 66200
Exports (NOK Million) 79666.58 75400 81210 82400 82400 85100
Crude Oil Production (BBL/D/1K) 1535.00 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) 197790.00 199636 199643 201944 202735 207800
Government Spending to GDP (%) 50.30 49.7 49.7 49.7 49.4 49.4
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) 9.00 9.1 9 8.2 8 6.5
Manufacturing PMI 56.80 54 53.2 53.2 54 54
Industrial Production (%) -5.70 1.9 2.3 2.5 2.2 2.5
Industrial Production Mom (%) -1.80 0.4 -0.7 0.5 0.5 0.4
Manufacturing Production (%) 3.10 2.8 2.4 2.5 2.3 2.7
Consumer Actual Q2 Q3 Q4 Q1 2020
Consumer Confidence (Index Points) 12.70 9 5 8 7 12
Retail Sales MoM (%) -1.30 -2 -0.6 0.5 0.4 0.6
Retail Sales YoY (%) -0.90 1.7 1.5 1.9 2 2
Consumer Spending (NOK Million) 371659.00 374907 374174 379464 380950 390468
Gasoline Prices (USD/Liter) 1.76 1.7 1.66 1.62 1.58 1.58
Household Spending (%) 0.10 -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.