The Norwegian economy expanded 1.1 percent quarter-on-quarter in the June quarter of 2021, rebounding from a 0.6 percent contraction in the previous period, amid gradual softening restrictions and higher economic activity. Household consumption (3.2 percent vs -3.4 percent in Q1), government spending (1.9 percent vs -1.5 percent), and fixed investment (2.8 percent vs -2.9 percent) all rebounded. At the same time, both exports and imports also rebounded sharply (3.9 percent vs -1.8 percent) and (3.9 percent vs -4.9 percent), respectively. Meanwhile, petroleum activities and ocean transport fell 0.2 percent after growing 1.5 percent in Q1. Mainland GDP, which excludes the largely petroleum-based offshore sector, advanced 1.4 percent in the second quarter, recovering from a 1.0 percent decline in the first quarter. source: Statistics Norway
GDP Growth Rate in Norway averaged 0.60 percent from 1978 until 2021, reaching an all time high of 4.30 percent in the third quarter of 2020 and a record low of -4.60 percent in the second quarter of 2020. This page provides - Norway GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Norway GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2021.
GDP 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 Growth Rate is projected to trend around 0.60 percent in 2022 and 0.50 percent in 2023, according to our econometric models.