The GDP for Mainland Norway, which excludes the largely petroleum-based offshore sector, shrank by 0.2 percent from a month earlier in January 2023, matching the market expectations and shifting from a downwardly revised 0.3 percent rise in the previous month. The latest figure was the first decline since July 2022, mainly dragged down by the wholesale & retail trade, due to sharp decline in car trade. On a yearly basis, the economy grew by 5.7 percent in January 2023, accelerating sharply from a 1 percent increase in the previous month. source: Statistics Norway

Leading Economic Index in Norway averaged 0.15 percent from 2016 until 2023, reaching an all time high of 3.70 percent in June of 2020 and a record low of -7.10 percent in March of 2020. This page provides - Norway GDP Mainland 3-Month Average- actual values, historical data, forecast, chart, statistics, economic calendar and news. Norway GDP Growth Mainland MoM - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.

Leading Economic Index in Norway is expected to be -0.40 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 Mainland MoM is projected to trend around 0.50 percent in 2024 and 0.40 percent in 2025, according to our econometric models.

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Norway GDP Growth Mainland MoM



Calendar GMT Actual Previous Consensus TEForecast
2023-02-15 07:00 AM Dec 0.4% 0.1% 0.1% 0.3%
2023-03-16 07:00 AM Jan -0.2% 0.3% -0.2% 0.2%
2023-04-12 06:00 AM Feb -0.2%


Related Last Previous Unit Reference
Business Confidence -3.90 -4.40 points Dec 2022
Industrial Production Mom -8.30 -0.20 percent Jan 2023
Industrial Production -6.60 0.00 percent Jan 2023
Manufacturing Production -0.80 0.40 percent Jan 2023
Capacity Utilization 80.10 80.60 percent Dec 2022
New Orders 146.10 97.80 points Dec 2017
Changes in Inventories 18331.00 36290.00 NOK Million Dec 2022
Bankruptcies 416.00 296.00 Companies and Individuals Jan 2023
Car Registrations 7797.00 2727.00 Units Feb 2023
Leading Economic Index -0.20 0.30 percent Jan 2023
Mining Production -9.90 -12.10 percent Dec 2022


News Stream
Mainland Norway Economy Shrinks 0.2%
The GDP for Mainland Norway, which excludes the largely petroleum-based offshore sector, shrank by 0.2 percent from a month earlier in January 2023, matching the market expectations and shifting from a downwardly revised 0.3 percent rise in the previous month. The latest figure was the first decline since July 2022, mainly dragged down by the wholesale & retail trade, due to sharp decline in car trade. On a yearly basis, the economy grew by 5.7 percent in January 2023, accelerating sharply from a 1 percent increase in the previous month.
2023-03-16
Mainland Norway Economy Expands 0.4%
The GDP for mainland Norway, which excludes the largely petroleum-based offshore sector, expanded by 0.4% from a month earlier in December of 2022. It is the best performance in three months, beating forecasts of a 0.1% rise. Wholesale and retail trade contributed most to the growth, due to a sharp rise in car purchases ahead of the increase in car taxes from January 2023. Considering Q4, the mainland Norwegian economy advanced 0.8%. Considering full 2022, the GDP grew 3.8%, as the reopening and removal of infection control measures early in 2022 led to increased service consumption, normal operations in the industries that were restricted by the pandemic and a large workload for businesses.
2023-02-15
GDP Growth in Mainland Norway Matches Expectations
The GDP for mainland Norway, which excludes the largely petroleum-based offshore sector, expanded by 0.2 percent from a month earlier in November 2022, mainly supported by increased wholesale and retail trade. The latest figure matches market expectations and follows an upwardly revised 0.1 percent growth in October. On a yearly basis, the economy grew by 2 percent, easing slightly from a 2.2 percent expansion in the prior month.
2023-01-12