Table

Main economic indicators 2005-2020. Accounts and forecasts. Percentage change from previous year unless otherwise noted
 200520062007200820092010201120122013201420152016*Forecasts
 2017201820192020
1Consumption in households and non-profit organizations + general government consumption + gross fixed capital formation in mainland Norway.
2Change in stockbuilding. Per cent of GDP.
3According to Statistics Norway's labour force survey(LFS). Break in data series in 2006.
4CPI adjusted for tax changes and excluding energy products.
5Yearly average. Lending rate, banks until 2006.
6Increasing index implies depreciation.
7Average spot price Brent Blend.
Demand and output                
Consumption in households etc.4.45.05.31.70.03.82.33.52.71.92.61.52.42.42.92.8
General government consumption1.91.92.02.44.12.21.01.61.02.72.42.11.91.71.82.2
Gross fixed investment12.09.111.70.9-6.8-6.67.47.66.3-0.7-4.0-0.24.21.61.92.4
Extraction and transport via pipelines19.73.26.94.73.3-8.911.315.119.3-3.2-12.2-16.9-0.30.28.23.0
mainland Norway11.19.314.20.9-10.4-6.45.07.42.90.4-0.26.15.71.50.22.2
Industries18.112.722.73.1-18.4-9.51.110.5-3.3-0.7-1.64.14.05.13.83.9
Housing9.74.02.7-9.0-8.1-1.617.010.95.3-1.41.69.08.4-3.1-6.00.1
General government-0.68.48.77.27.7-4.81.1-1.811.84.43.05.95.01.81.81.8
Demand from Mainland Norway15.15.06.21.6-1.41.22.53.72.31.82.02.62.92.02.02.5
Stockbuilding2-0.11.40.2-0.1-2.52.9-0.3-0.30.40.20.21.40.30.00.00.0
Exports0.5-0.81.40.1-4.10.7-0.81.4-1.73.14.7-1.81.61.62.62.5
Traditional goods5.36.19.23.5-8.03.3-0.1-0.21.33.16.9-8.22.15.03.32.6
Crude oil and natural gas-5.0-6.6-2.4-1.3-1.6-6.9-5.60.5-5.52.72.14.31.4-0.41.02.3
Imports7.99.110.03.2-10.08.34.03.14.92.41.62.34.92.02.72.7
Traditional goods8.411.67.21.2-12.19.24.62.62.32.13.2-0.45.53.13.93.8
Gross domestic product2.62.42.90.4-1.60.61.02.71.01.92.01.11.81.82.22.3
Mainland Norway4.75.05.71.7-1.61.81.93.82.32.21.41.02.02.12.42.4
Manufacturing3.62.63.82.7-7.82.11.72.03.32.8-3.2-4.10.82.82.41.7
Labour market                
Total hours worked, Mainland Norway1.63.54.83.6-2.00.21.71.80.31.40.40.80.80.61.21.8
Employed persons1.33.44.13.2-0.5-0.51.52.11.11.20.40.31.00.81.00.9
Labor force30.81.62.53.40.00.51.01.81.01.11.40.30.10.60.90.8
Participation rate (level)372.472.072.873.972.871.971.471.571.271.071.270.770.070.270.470.6
Unemployment rate (level)34.63.42.52.63.23.63.33.23.53.54.44.74.24.14.03.9
Prices and wages                
Wages per standard man-year3.34.15.46.34.23.74.24.03.93.12.81.72.43.03.24.0
Consumer price index (CPI)1.62.30.83.82.12.51.20.82.12.02.13.62.11.91.71.9
CPI-ATE41.00.81.42.62.61.40.91.21.62.42.73.01.61.71.61.6
Export prices, traditional goods4.011.32.42.8-6.04.55.8-1.92.73.43.23.45.61.00.91.1
Import prices, traditional goods0.34.03.73.9-1.50.04.00.31.54.44.81.04.30.50.20.0
Housing prices8.213.712.6-1.11.98.38.06.74.02.76.17.05.0-4.8-1.21.2
Income, interest rates and excange rate                
Household real income8.4-6.46.23.53.22.34.24.53.82.85.2-1.62.22.92.82.8
Household saving ratio (level)9.6-0.50.93.75.24.05.87.17.68.210.46.96.56.96.97.3
Money market rate (level)2.23.15.06.22.52.52.92.21.81.71.31.10.90.80.81.2
Lending rate, credit loans(level)53.94.35.06.84.03.43.63.94.03.93.22.62.62.42.42.7
Real after-tax lending rate, banks (level)0.80.22.91.10.70.11.32.10.70.80.1-1.6-0.1-0.10.10.2
Importweighted krone exchange rate (44 countries)6-3.90.7-1.80.03.3-3.7-2.4-1.22.25.310.41.9-1.7-2.0-0.9-0.9
NOK per euro (level)8.08.18.08.28.78.07.87.57.88.48.99.39.29.29.19.0
Current account                
Current balance (bill. NOK)322.8357.7287.4408.3258.2282.7344.9368.6314.2346.0270.0154.8170.9143.5170.2194.9
Current balance (per cent of GDP)16.216.112.215.610.710.912.712.410.211.08.73.35.24.24.65.1
International indicators                
Exports markets indicator7.19.86.51.7-9.811.36.31.42.14.94.93.84.94.74.44.2
Consumer price index, euro-area2.22.22.23.30.31.72.72.51.30.40.10.31.61.41.71.9
Money market rate, euro(level)2.23.14.34.61.20.81.40.50.20.20.0-0.3-0.30.00.30.7
Crude oil price NOK (level)7356423423536388484621649639621431378433448469483