Latest reading: Industrial production expanded 12.7% on a year-on-year basis in June, following a 8.8% rise in the previous month....
Industrial Production in Norway
The Norwegian economy recorded an average industrial production growth rate of 0.8% in the decade to 2024. In 2024, industrial production growth was 4.8%. For more industry information, visit our dedicated page.
Norway Industry Chart
Note: This chart displays Industrial Production (annual variation in %) for Norway from 2014 to 2025.
Source: Macrobond.
Norway Industry Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Industrial Production (ann. var. %) | 2.5 | -0.4 | 0.0 | 4.8 | 0.6 |
Industrial production contracts in May
Latest reading: Industrial production was down 1.0% in seasonally adjusted month-on-month terms in May, following a 0.6% rise in the previous month. Relative to the prior month's data, the reading for extraction and related services—which account for nearly 75% of industrial output in Norway—softened in May (-2.6% on a seasonally adjusted month-on-month basis vs +0.8% in April). In contrast, readings picked up for manufacturing (+0.7% vs -0.6% in April) and electricity, gas and steam (+13.7% vs +1.0% in April). In working-day adjusted year-on-year terms, industrial production rose 0.5% in May, following 1.2% growth in the previous month.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Norwegian industry projections for the next ten years from a panel of 4 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for Norwegian industry.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Norwegian industry projections.
Want to get access to the full dataset of Norwegian industry forecasts? Send an email to info@focus-economics.com.
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