Norway skyline at night

Industry in Norway

Norway Industry

Industrial output rebounds in June

Industrial output increased 0.2% month-on-month in seasonally adjusted terms in June (May: -3.4% mom). Looking at the details of the release, June’s reading was driven by an improvement in extraction and related services—which accounts for around 75% of industrial output in Norway. In contrast, manufacturing activity was flat, while mining and quarrying output weakened.

On an annual basis, factory output nosedived 11.0% in calendar adjusted terms in June (May: -11.1% yoy). Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at minus 2.5%, down from May’s minus 1.4%.

Norway Industry Chart

This chart displays Industrial Production (annual variation in %) for Norway from 2013 to 2022.

Norway Industry Data

2018 2019 2020 2021 2022
Industrial Production (ann. var. %) 1.1 -5.0 4.1 3.3 2.6

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