The Gross Domestic Product (GDP) in Norway expanded 1.30 percent in the third quarter of 2019 over the same quarter of the previous year. GDP Annual Growth Rate in Norway averaged 2.52 percent from 1979 until 2019, reaching an all time high of 10.20 percent in the first quarter of 1980 and a record low of -4.40 percent in the second quarter of 2009. source: Statistics Norway

GDP Annual Growth Rate in Norway is expected to be 1.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Norway to stand at 2.00 in 12 months time. In the long-term, the Norway GDP Annual Growth Rate is projected to trend around 2.20 percent in 2020, according to our econometric models.


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Norway GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.30 -0.70 10.20 -4.40 1979 - 2019 percent Quarterly
NSA



Calendar GMT Actual Previous Consensus TEForecast
2019-02-08 07:00 AM Q4 1.7% 1.2% 2.2%
2019-05-13 06:00 AM Q1 2.5% 1.9% 2.1%
2019-08-29 06:00 AM Q2 -0.7% 2.3% 2.3%
2019-11-12 07:00 AM Q3 1.3% -0.7% -1.6%
2020-02-07 07:00 AM Q4 1.3% 1.1%


Norway GDP Annual 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.

Norway GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.00 0.20 4.00 -2.60 percent [+]
GDP Annual Growth Rate 1.30 -0.70 10.20 -4.40 percent [+]
GDP 434.75 399.49 523.50 5.16 USD Billion [+]
GDP Constant Prices 843944.00 843740.00 843944.00 304538.00 NOK Million [+]
Gross National Product 848825.00 870227.00 930228.00 55200.00 NOK Million [+]
Gross Fixed Capital Formation 228695.00 218159.00 228695.00 71387.00 NOK Million [+]
GDP per capita 92121.40 91451.40 92121.40 23183.56 USD [+]
GDP per capita PPP 65441.40 64965.40 65441.40 42813.80 USD [+]
GDP From Agriculture 5227.00 5341.00 6172.00 2759.00 NOK Million [+]
GDP From Construction 52708.00 52612.00 52708.00 21411.00 NOK Million [+]
GDP From Manufacturing 55929.00 55994.00 59063.00 39709.00 NOK Million [+]
GDP From Mining 1354.00 1215.00 2071.00 668.00 NOK Million [+]
GDP From Public Administration 51265.00 51190.00 51265.00 22758.00 NOK Million [+]
GDP From Utilities 5699.00 5609.00 6054.00 3107.00 NOK Million [+]