Trade Balance in Norway
Norway - Trade BalanceNorway’s total GDP growth accelerated modestly in Q2, after flatlining in Q1. A pick-up in domestic demand was chiefly behind the headline figure—driven by a hefty expansion in fixed investment, which more than offset softer household spending growth. Conversely, exports continued to contract on a sharp downturn in exports of vessels, oil platforms and aircrafts. Turning to Q3, growth will likely continue to gain momentum. Total GDP data for July posted the strongest month-on-month expansion since June 2018. However, a surge in investment—mainly in the petroleum industry—somewhat flattered the print, as private consumption declined due to a steep fall in motor vehicle and petrol sales. Nevertheless, the economy should receive a boost from increased public spending in H2, while a weaker krone in recent months should boost export competitiveness and support foreign demand.
Norway - Trade Balance Data
|Trade Balance (USD billion)||66.2||55.3||27.5||14.4||21.5|
5 years of economic forecasts for more than 30 economic indicators.
Norway Trade Balance Chart
Source: Statistics Norway and FocusEconomics calculations.
|Bond Yield||1.13||-0.65 %||Sep 04|
|Exchange Rate||9.03||-0.38 %||Sep 04|
|Stock Market||859||-0.08 %||Sep 04|
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October 7, 2019
Industrial production decreased a seasonally-adjusted 2.1% in August from the previous month, contrasting July’s 0.6% rise.
September 19, 2019
The executive board of Norges Bank unanimously decided to raise the sight deposit rate to 1.50% from 1.25% at its monetary policy meeting on 18 September.
September 10, 2019
Consumer prices fell 0.7% in August, contrasting July’s 0.7% increase.
September 6, 2019
Industrial production increased a seasonally-adjusted 0.5% in July from the previous month, contrasting June’s 1.3% decline.
August 29, 2019
The economy expanded 0.3% in the second quarter of 2019 in quarter-on-quarter seasonally-adjusted terms, after flatlining in Q1 (previously reported: -0.1% quarter-on-quarter).