The Norwegian economy grew by 0.6 percent on quarter in the three months to September 2018, after a 0.4 percent expansion in the previous period and in line with market consensus. It was the highest growth rate since Q2 2017 mainly driven by a positive contribution from net external demand, with exports rising 0.9 percent (vs 1.7 percent in Q2) and imports falling 0.5 percent (vs 3.5 percent in Q2). In addition, petroleum activities and ocean transport output rebounded 2.7 percent (vs -1 percent in Q2), fixed investment increased 0.5 percent (vs 6.7 percent in Q2) and government spending grew 0.3 percent, the same as in Q2. Household consumption, however, contracted 0.2 percent in Q3, compared to an increase of 1 percent in Q2 largely due to a drop in consumption of goods. Mainland GDP, which excludes the largely petroleum-based offshore sector, expanded 0.3 percent in the third quarter, compared to a 0.7 percent growth in Q2. GDP Growth Rate in Norway averaged 0.63 percent from 1978 until 2018, reaching an all time high of 4 percent in the fourth quarter of 1994 and a record low of -2.60 percent in the third quarter of 1987.

Norway GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-05-15 06:00 AM GDP Growth Rate QoQ 0.6% -0.3% 0.7%
2018-08-23 06:00 AM GDP Growth Rate QoQ 0.4% 0.2% 0.6%
2018-11-13 07:00 AM GDP Growth Rate QoQ 0.6% 0.4% 0.6% 0.7%


Norway GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 0.40 4.00 -2.60 percent [+]
GDP Annual Growth Rate 1.10 3.40 10.20 -4.30 percent [+]
GDP 398.83 371.08 523.50 5.16 USD Billion [+]
GDP Constant Prices 811190.00 806538.00 811190.00 293066.00 NOK Million [+]
Gross National Product 867368.00 882027.00 882027.00 55200.00 NOK Million [+]
Gross Fixed Capital Formation 208126.00 207112.00 208126.00 70683.00 NOK Million [+]
GDP per capita 91218.62 90316.97 91617.28 23183.56 USD [+]
GDP per capita PPP 64800.06 64159.54 65083.26 42813.77 USD [+]
GDP From Agriculture 4007.00 5502.00 6287.00 2811.00 NOK Million [+]
GDP From Construction 50490.00 49931.00 50490.00 20757.00 NOK Million [+]
GDP From Manufacturing 52192.00 51907.00 57142.00 38563.00 NOK Million [+]
GDP From Mining 1182.00 1210.00 1776.00 572.00 NOK Million [+]
GDP From Public Administration 48827.00 48572.00 48827.00 22268.00 NOK Million [+]
GDP From Utilities 5064.00 4997.00 5751.00 2952.00 NOK Million [+]


Norway GDP 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. This page provides - Norway GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Norway GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
0.60 0.40 4.00 -2.60 1978 - 2018 percent Quarterly
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Country Last
Singapore 4.70 Sep/18
United States 3.50 Sep/18
Indonesia 3.09 Sep/18
India 1.90 Jun/18
China 1.60 Sep/18
Australia 0.90 Jun/18
Mexico 0.90 Sep/18
Russia 0.90 Jun/18
Turkey 0.90 Jun/18
Canada 0.70 Jun/18
Switzerland 0.70 Jun/18
South Korea 0.60 Sep/18
Spain 0.60 Sep/18
United Kingdom 0.60 Sep/18
France 0.40 Sep/18
Brazil 0.20 Jun/18
Euro Area 0.20 Sep/18
Netherlands 0.20 Sep/18
Italy 0.00 Sep/18
Saudi Arabia -0.05 Mar/18
Germany -0.20 Sep/18
Japan -0.30 Sep/18
South Africa -0.70 Jun/18
Argentina -4.00 Jun/18


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