The Gross Domestic Product (GDP) in Norway contracted 0.60 percent in the fourth quarter of 2020 over the same quarter of the previous year. source: Statistics Norway

GDP Annual Growth Rate in Norway averaged 2.42 percent from 1979 until 2020, 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. This page provides - Norway GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Norway GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2021.

GDP Annual Growth Rate in Norway is expected to be -0.50 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 3.20 in 12 months time. In the long-term, the Norway GDP Annual Growth Rate is projected to trend around 2.00 percent in 2022, according to our econometric models.

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Norway GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.60 -0.10 10.20 -4.40 1979 - 2020 percent Quarterly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-05-12 06:00 AM Q1 1.1% 1.8% -2.6%
2020-08-25 06:00 AM Q2 -4.7% 0.9% -7%
2020-11-17 07:00 AM Q3 -0.2% -4.0% -2.8%
2021-02-12 07:00 AM Q4 -0.6% -0.1% 0.6%
2021-05-12 06:00 AM Q1 -0.6%
2021-08-20 06:00 AM Q2
2021-11-12 07:00 AM Q3

Norway GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 4.50 4.50 -4.60 percent [+]
GDP Annual Growth Rate -0.60 -0.10 10.20 -4.40 percent [+]
GDP 403.34 434.17 522.76 5.16 USD Billion [+]
GDP Constant Prices 900102.00 894413.00 910476.00 324308.00 NOK Million [+]
Gross National Product 904222.00 821121.00 935984.00 55200.00 NOK Million [+]
Gross Fixed Capital Formation 213592.00 211705.00 228824.00 73364.00 NOK Million [+]
GDP per capita 92556.30 92119.50 92556.30 23167.40 USD [+]
GDP per capita PPP 63633.10 63332.80 63633.10 41406.30 USD [+]
GDP From Agriculture 5481.00 5802.00 6557.00 2931.00 NOK Million [+]
GDP From Construction 51849.00 51063.00 53628.00 22135.00 NOK Million [+]
GDP From Manufacturing 54683.00 52919.00 58605.00 39402.00 NOK Million [+]
GDP From Mining 1463.00 1283.00 2266.00 730.00 NOK Million [+]
GDP From Public Administration 55608.00 54920.00 55608.00 23458.00 NOK Million [+]
GDP From Utilities 5759.00 5637.00 6440.00 3306.00 NOK Million [+]


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.