Norway skyline at night

Norway Government Consumption (ann. var. %)

Economy declines in January

GDP declined 0.2% over the prior month in seasonally adjusted terms in January, contrasting December’s 0.3% increase. Meanwhile, the economy flatlined in the rolling quarter of November–January relative to the previous rolling quarter (August–October). This was an improvement from the 0.7% contraction tallied in October–December.

Similarly, mainland GDP—which excludes hydrocarbons and related services—also clocked a 0.2% decline in January, deteriorating from the 0.3% expansion recorded in December. During the three months to December, the mainland economy rose 0.2%, with growth halving from the 0.4% recorded in October–December.

Domestically, private consumption was the main driver behind the monthly downturn; it plunged 10.7% in January, contrasting December’s 6.1% growth markedly. Similarly, fixed investment declined a seasonally adjusted month on month 2.1% in January (December: +0.5% s.a. mom). Conversely, government spending accelerated to 0.3% (December: +0.2% s.a. mom).

Turning to the external sector, exports of goods and services declined 1.3% in January, deteriorating from the prior month’s 1.7% growth. Meanwhile, imports of goods and services contracted a sharper 3.0% in January (December: -0.3% s.a. mom).

Norway Government Consumption (ann. var. %) Data

2017 2018 2019 2020 2021
Government Consumption (ann. var. %) 1.9 0.6 1.1 -0.5 5.0

Free sample report

Interested in economic reports, analysis and data? FocusEconomics provides data, forecasts and analysis for hundreds of countries and commodities. Request your free sample report now.

Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest