The Gross Domestic Product (GDP) in Norway expanded 6.10 percent in the second quarter of 2021 over the same quarter of the previous year. source: Statistics Norway

GDP Annual Growth Rate in Norway averaged 2.42 percent from 1979 until 2021, reaching an all time high of 10.20 percent in the first quarter of 1980 and a record low of -4.40 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 October of 2021.

GDP Annual Growth Rate in Norway is expected to be 2.80 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 3.70 percent in 2022 and 2.60 percent in 2023, according to our econometric models.

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Norway GDP Annual Growth Rate

Calendar GMT Actual Previous Consensus TEForecast
2021-05-12 06:00 AM Q1 -1.4% -0.6% 1%
2021-08-20 06:00 AM Q2 6.1% -1.4% 3.4%
2021-11-12 07:00 AM Q3 6.1% 2.8%

Norway Last Unit Reference Previous Highest Lowest
GDP Growth Rate 1.10 percent Jun/21 -0.60 4.30 -4.60
GDP Annual Growth Rate 6.10 percent Jun/21 -1.40 10.20 -4.40
GDP Constant Prices 905355.00 NOK Million Jun/21 895250.00 910824.00 324308.00
Gross National Product 948764.00 NOK Million Jun/21 937345.00 948764.00 55200.00
Gross Fixed Capital Formation 213794.00 NOK Million Jun/21 210347.00 228710.00 73364.00
GDP From Utilities 5670.00 NOK Million Jun/21 5648.00 6440.00 3306.00
GDP From Public Administration 55983.00 NOK Million Jun/21 55793.00 55983.00 23458.00
GDP From Mining 999.00 NOK Million Jun/21 985.00 2266.00 730.00
GDP From Manufacturing 55645.00 NOK Million Jun/21 55788.00 58605.00 39402.00
GDP From Construction 50927.00 NOK Million Jun/21 52044.00 53621.00 22135.00
GDP From Agriculture 5892.00 NOK Million Jun/21 5833.00 6557.00 2931.00

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.