Norway's industrial production shrank 8.6 percent year-on-year in June 2019, following a 2.5 percent contraction in the previous month. This was the sixth straight month of decline in output and the steepest fall since September 2016, as output dropped faster for both extraction & related services (-15.2 pct vs -4.4 pct in May) and mining & quarrying (-11.1 pct vs -7.2 pct) while electricity, gas & steam output continued to fall (-2.7 pct vs -4.1 pct). In addition, manufacturing output growth eased to 3.0 percent from 5.0 percent, as production rose softer for both ships, boats and oil platforms (39.0 pct vs 45.0 pct) and machinery and equipment (6.1 pct vs 7.0 pct). Also, output shrank for food, beverage & tobacco (-2.0 pct vs 0.2 pct) while those of refined petroleum, chemicals & pharmaceutical products declined faster (-8.2 pct vs -1.9 pct). Conversely, output of computer & electrical equipment grew faster (3.9 pct vs 3.5 pct). Industrial Production in Norway averaged 0.33 percent from 1991 until 2019, 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.

Industrial Production 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 Industrial Production in Norway to stand at 2.30 in 12 months time. In the long-term, the Norway Industrial Production is projected to trend around 2.00 percent in 2020, according to our econometric models.

Norway Industrial Production
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Calendar GMT Actual Previous Consensus TEForecast
2019-05-08 06:00 AM Industrial Production YoY Mar -6.5% -5.7% -2.2%
2019-06-07 06:00 AM Industrial Production YoY Apr -4.2% -6.4% -2.3%
2019-07-05 06:00 AM Industrial Production YoY May -2.5% -4.2% -3%
2019-08-08 06:00 AM Industrial Production YoY Jun -8.6% -2.5% -1.6%
2019-09-06 06:00 AM Industrial Production YoY Jul -8.6%
2019-10-07 06:00 AM Industrial Production YoY Aug
2019-11-07 07:00 AM Industrial Production YoY Sep 2.3%


Norway Business Last Previous Highest Lowest Unit
Business Confidence 5.60 6.80 20.10 -22.90 Index Points [+]
Manufacturing PMI 48.40 51.40 64.06 36.90 [+]
Industrial Production -8.60 -2.50 15.40 -13.10 percent [+]
Industrial Production Mom -1.40 0.60 12.50 -9.30 percent [+]
Manufacturing Production 3.00 5.00 8.90 -10.40 percent [+]
Capacity Utilization 79.30 79.30 85.50 76.20 percent [+]
Changes in Inventories 31468.00 32631.00 57276.00 3245.00 NOK Million [+]
Bankruptcies 432.00 442.00 595.00 43.00 Companies and Individuals [+]
Car Registrations 12808.00 15481.00 19014.50 4089.00 [+]
Internet Speed 23539.08 23633.20 23633.20 4055.36 KBps [+]
IP Addresses 2663340.00 2550734.00 3708569.00 1631719.00 IP [+]
Leading Economic Index 0.70 0.40 1.20 -0.50 percent [+]
Mining Production -11.10 -7.20 69.00 -28.20 percent [+]
Steel Production 57.83 57.30 97.00 0.00 Thousand Tonnes [+]
Crude Oil Rigs 19.00 18.00 25.00 6.00 [+]
Competitiveness Index 78.16 78.94 78.94 5.14 Points [+]
Competitiveness Rank 16.00 14.00 17.00 11.00 [+]
Corruption Index 84.00 85.00 91.00 79.00 Points [+]
Corruption Rank 7.00 3.00 14.00 3.00 [+]
Ease of Doing Business 7.00 8.00 10.00 6.00 [+]
Electricity Production 9470.00 9810.00 16376.00 6653.00 Gigawatt-hour [+]


Norway Industrial Production

In Norway, industrial production measures the output of businesses integrated in industrial sector of the economy. Extraction and related services is the most important sector and accounts for 67 percent of total production. The biggest segments within Extraction and related services are: Extraction of natural gas (31 percent of total output) and extraction of crude petroleum (30 percent). Manufacturing accounts for 27 percent of total production, mainly: food, beverages and tobacco (5 percent); refined petroleum, chemicals and pharmaceutical products (4 percent); machinery and equipment (3 percent); fabricated metal products (2 percent); ships, boats and oil platforms (2 percent); computer and electrical equipment (2 percent); repair, installation of machinery (2 percent); and rubber, plastic and mineral products (2 percent). Electricity, gas and steam account for 6 percent of total output; and Mining and quarrying account for 1 percent. This page provides - Norway Industrial Production - actual values, historical data, forecast, chart, statistics, economic calendar and news. Norway Industrial Production - actual data, historical chart and calendar of releases - was last updated on August of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-8.60 -2.50 15.40 -13.10 1991 - 2019 percent Monthly
2005=100, WDA




Country Last Previous
Argentina -6.90 Jun/19
Australia 1.20 Mar/19
Brazil -5.90 Jun/19
Canada 3.14 May/19
China 4.80 Jul/19
Euro Area -2.60 Jun/19
France 0.00 Jun/19
Germany -5.20 Jun/19
India 2.00 Jun/19
Indonesia 3.60 Jun/19
Italy -1.20 Jun/19
Japan -3.80 Jun/19
Mexico -2.91 Jun/19
Netherlands -1.90 Jun/19
Russia 2.80 Jul/19
Saudi Arabia 1.40 Dec/18
Singapore -6.90 Jun/19
South Africa -3.20 Jun/19
South Korea -2.90 Jun/19
Spain 1.80 Jun/19
Switzerland 4.80 Jun/19
Turkey -3.90 Jun/19
United Kingdom -0.60 Jun/19
United States 0.50 Jul/19


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