Exports in Norway
Norway - ExportsDynamics should have been muted in Q1 2022, as monthly GDP returned to tepid growth in February following January’s sharp drop. The external sector contributed to overall growth in February, while private spending expanded strongly, aided by the scrapping of virtually all Covid-19 restrictions and the fact that Q1 saw the lowest unemployment rate since Q4 2012. That said, downbeat consumer confidence and high inflation in the quarter likely dragged somewhat on private spending. At the tail end of Q1 and into Q2, public coffers should have benefitted from high gas and oil prices. Less positively, household consumption could be weighed on in the quarter by elevated price pressures, although a tight labor market should ease the burden somewhat. In response to Russia’s invasion of Ukraine, Norway closed its borders and ports to Russian trade in late April.
Norway - Exports Data
|Exports (USD billion)||104||89.5||104||123||104|
5 years of economic forecasts for more than 30 economic indicators.
Norway Exports Chart
Source: Statistics Norway and FocusEconomics calculations.
|Bond Yield||1.58||-0.65 %||Jan 01|
|Exchange Rate||8.78||-0.38 %||Jan 01|
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May 10, 2022
Consumer prices rose 1.17% over the previous month in April, picking up from March's 0.59% increase.
May 9, 2022
Industrial output expanded 2.2% month-on-month in seasonally-adjusted terms in March (February: -0.7% mom).
April 11, 2022
Consumer prices increased 0.59% in March over the previous month, a smaller increase than February's 1.10% rise.
April 8, 2022
Economic output increased 0.7% over the prior month in seasonally-adjusted terms in February—the strongest reading in five months—contrasting the 1.6% decline recorded in January.
April 7, 2022
Industrial output decreased 0.8% in month-on-month seasonally-adjusted terms in February, which contrasted January's 0.9% increase.