Norway skyline at night

Norway Foreign Direct Investment (EUR bn)

Following a marginal GDP expansion in Q4, conditions grew more challenging at the outset of 2023. GDP slid 0.2% month on month in January. Private consumption plunged by over 10% in the month, marking the sharpest downturn since the outbreak of the pandemic in March 2020. Moreover, in January, the unemployment rate increased to a 14-month high and price pressures intensified, contributing to household spending’s retreat. Meanwhile, imports of goods and services contracted at a steeper pace than in December. Fixed investment also swung to a contraction, which more than offset a marginal uptick in public spending growth. Lastly, exports of goods and services declined in January. Furthermore, in February, the manufacturing PMI fell to a 30-month low as conditions deteriorated markedly. In late March, Norges Bank increased interest rates further, boding ill for credit and investment.

Norway Foreign Direct Investment (EUR bn) Data

2017 2018 2019 2020 2021
Foreign Direct Investment (EUR bn) -5.2 0.2 14.9 -1.2 -1.4

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