Norway's industrial production increased 2.1 percent year-on-year in May of 2021, accelerating from a 0.9 gain in the previous month. It was the strongest growth in industrial production since January, mainly due to a faster rise in output of manufacturing (7.6% vs 4.7%), while those of electricity, gas & steam fell less (-0.4 vs -0.7% in April). Meantime, production of extraction & related services continued to drop (-2.0% vs -1.9%). Manufacturing output growth accelerated, due to a faster increase in output of refined petroleum, chemicals, pharmaceuticals (22.7% vs 6.0%), rubber, plastic and mineral products (9.6% vs 2.8%), transport equipment n.e.c (14.5% vs 6.4%), basic chemicals (12.0% vs 6.9%), while production of both machinery and equipment (3.1% vs -0.4%) and fabricated metal products (3.6% vs 0.9%) rebounded sharply source: Statistics Norway
Industrial Production in Norway averaged 0.39 percent from 1991 until 2021, reaching an all time high of 15.40 percent in June of 1994 and a record low of -13.10 percent in August of 2010. This page provides - Norway Industrial Production - actual values, historical data, forecast, chart, statistics, economic calendar and news. Norway Industrial Production - data, historical chart, forecasts and calendar of releases - was last updated on August of 2021.
Industrial Production in Norway is expected to be 2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Norway to stand at 1.50 in 12 months time. In the long-term, the Norway Industrial Production is projected to trend around 1.50 percent in 2022 and 2.00 percent in 2023, according to our econometric models.