The GDP in Norway expanded 2.50 percent in the third quarter of 2022 over the same quarter of the previous year. it is the lowest growth rate since the contraction in 2020. source: Statistics Norway

GDP Annual Growth Rate in Norway averaged 2.48 percent from 1979 until 2022, reaching an all time high of 10.20 percent in the first quarter of 1980 and a record low of -4.60 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 February of 2023.

GDP Annual Growth Rate in Norway is expected to be 3.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Norway GDP Annual Growth Rate is projected to trend around 2.00 percent in 2023 and 1.80 percent in 2024, according to our econometric models.

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Norway GDP Annual Growth Rate

Calendar GMT Actual Previous Consensus TEForecast
2022-08-18 06:00 AM Q2 3.9% 4.9% 2.5%
2022-11-18 07:00 AM Q3 2.5% 4.4% 3%
2023-02-14 07:00 AM Q4 2.5% 3.2%

Related Last Previous Unit Reference
GDP Growth Rate 1.50 1.30 percent Sep 2022
GDP Annual Growth Rate 2.50 4.40 percent Sep 2022
GDP Constant Prices 937065.00 922874.00 NOK Million Sep 2022
Gross National Product 1552142.00 1326428.00 NOK Million Sep 2022
Gross Fixed Capital Formation 245884.00 244854.00 NOK Million Sep 2022
Full Year GDP Growth 3.90 -0.70 percent Dec 2021
GDP from Utilities 6417.00 6116.00 NOK Million Sep 2022
GDP from Public Administration 59850.00 59342.00 NOK Million Sep 2022
GDP from Mining 1656.00 1627.00 NOK Million Sep 2022
GDP from Manufacturing 60814.00 59978.00 NOK Million Sep 2022
GDP from Construction 56889.00 57105.00 NOK Million Sep 2022
GDP from Agriculture 6048.00 5802.00 NOK Million Sep 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
2.50 4.40 10.20 -4.60 1979 - 2022 percent Quarterly