The Norwegian economy expanded 3% year-on-year in the first quarter of 2023, accelerating from a 1.2% growth in the previous three-month period and pointing to the largest rise since the second quarter of 2022. source: Statistics Norway

GDP Annual Growth Rate in Norway averaged 2.48 percent from 1979 until 2023, 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 June of 2023.

GDP Annual Growth Rate in Norway is expected to be 2.30 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 1.80 percent in 2024 and 2.20 percent in 2025, according to our econometric models.

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Norway GDP Annual Growth Rate

Calendar GMT Actual Previous Consensus TEForecast
2023-02-15 07:00 AM Q4 1.3% 2.4% 3.2%
2023-05-12 06:00 AM Q1 3% 1.2% 0.9%
2023-08-18 06:00 AM Q2 3% 2.3%

Related Last Previous Unit Reference
GDP Growth Rate 0.20 0.00 percent Mar 2023
GDP Annual Growth Rate 3.00 1.20 percent Mar 2023
GDP Constant Prices 935941.00 933693.00 NOK Million Mar 2023
Gross National Product 1284032.00 1401116.00 NOK Million Mar 2023
Gross Fixed Capital Formation 248013.00 248373.00 NOK Million Mar 2023
Full Year GDP Growth 3.30 3.90 percent Dec 2022
GDP from Utilities 6530.00 6497.00 NOK Million Mar 2023
GDP from Public Administration 60284.00 60265.00 NOK Million Mar 2023
GDP from Mining 1682.00 1627.00 NOK Million Mar 2023
GDP from Manufacturing 60141.00 59909.00 NOK Million Mar 2023
GDP from Construction 57414.00 57157.00 NOK Million Mar 2023
GDP from Agriculture 5769.00 5751.00 NOK Million Mar 2023

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
3.00 1.20 10.20 -4.60 1979 - 2023 percent Quarterly