Table
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016* | 2017* | Forecasts | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2018 | 2019 | 2020 | 2021 | |||||||||||
| 1Consumption in households and non-profit organizations + general government consumption + gross fixed capital formation in mainland Norway. | ||||||||||||||
| 2Change in stockbuilding. Per cent of GDP. | ||||||||||||||
| 3Employees. | ||||||||||||||
| 4According to Statistics Norway's labour force survey(LFS). Break in data series in 2006. | ||||||||||||||
| 5CPI adjusted for tax changes and excluding energy products. | ||||||||||||||
| 6Yearly average. Lending rate, banks until 2006, thereafter credit lines, secured on dwellings. | ||||||||||||||
| 7Increasing index implies depreciation. | ||||||||||||||
| 8Current account not adjusted for saving in pension funds. | ||||||||||||||
| 9Average spot price Brent Blend. | ||||||||||||||
| Demand and output | ||||||||||||||
| Consumption in households etc. | 1.7 | 0.0 | 3.8 | 2.3 | 3.5 | 2.8 | 2.1 | 2.6 | 1.3 | 2.2 | 2.0 | 2.4 | 2.6 | 2.4 |
| General government consumption | 2.4 | 4.1 | 2.2 | 1.0 | 1.6 | 1.0 | 2.7 | 2.4 | 2.1 | 2.5 | 1.8 | 1.8 | 1.8 | 1.7 |
| Gross fixed investment | 1.1 | -6.8 | -6.4 | 7.5 | 7.6 | 6.3 | -0.3 | -4.0 | 5.2 | 3.6 | -0.2 | 4.5 | 2.2 | 1.1 |
| Extraction and transport via pipelines | 5.5 | 2.9 | -8.0 | 11.4 | 14.6 | 19.0 | -1.8 | -12.2 | -16.0 | -3.8 | 3.1 | 13.2 | 0.5 | 0.2 |
| mainland Norway | 0.9 | -10.4 | -6.4 | 5.0 | 7.4 | 2.9 | 0.4 | -0.2 | 10.7 | 7.0 | -0.8 | 1.9 | 2.7 | 1.4 |
| Industries | 3.1 | -18.4 | -9.5 | 1.1 | 10.5 | -3.2 | -0.7 | -2.8 | 16.5 | 9.3 | 1.8 | 3.4 | 3.0 | 1.6 |
| Housing | -9.0 | -8.1 | -1.6 | 17.0 | 10.9 | 5.3 | -1.4 | 3.2 | 6.6 | 7.0 | -9.9 | 1.3 | 4.2 | 1.4 |
| General government | 7.2 | 7.7 | -4.8 | 1.1 | -1.8 | 11.8 | 4.4 | 0.2 | 6.7 | 3.6 | 5.2 | 0.0 | 0.6 | 1.0 |
| Demand from Mainland Norway1 | 1.7 | -1.4 | 1.2 | 2.5 | 3.7 | 2.3 | 1.9 | 2.0 | 3.5 | 3.3 | 1.3 | 2.1 | 2.4 | 2.0 |
| Stockbuilding2 | -0.2 | -2.1 | 3.7 | -0.3 | -0.3 | 0.3 | -0.1 | -0.5 | -0.4 | 2.3 | 0.5 | 0.1 | 0.0 | 0.0 |
| Exports | 0.1 | -4.1 | 0.6 | -0.8 | 1.6 | -1.7 | 3.1 | 4.7 | 1.1 | -0.2 | 0.2 | 2.4 | 3.7 | 3.0 |
| Traditional goods | 3.5 | -8.0 | 3.3 | -0.1 | -0.2 | 1.3 | 3.1 | 6.9 | -8.6 | 1.7 | 2.2 | 3.3 | 3.0 | 2.8 |
| Crude oil and natural gas | -1.3 | -1.6 | -6.9 | -5.6 | 0.5 | -5.5 | 2.7 | 2.1 | 4.9 | 1.5 | -4.0 | -0.2 | 5.8 | 4.1 |
| Imports | 3.2 | -10.3 | 8.4 | 3.9 | 3.0 | 5.0 | 2.4 | 1.6 | 3.3 | 1.6 | 1.5 | 3.6 | 2.3 | 2.1 |
| Traditional goods | 1.2 | -12.1 | 9.2 | 4.6 | 2.6 | 2.3 | 2.1 | 3.2 | -0.1 | 2.7 | 2.8 | 3.2 | 2.9 | 2.4 |
| Gross domestic product | 0.5 | -1.7 | 0.7 | 1.0 | 2.7 | 1.0 | 2.0 | 2.0 | 1.2 | 2.0 | 1.4 | 2.4 | 2.7 | 2.1 |
| Mainland Norway | 1.8 | -1.7 | 1.9 | 1.9 | 3.7 | 2.3 | 2.2 | 1.4 | 1.1 | 2.0 | 2.0 | 2.7 | 2.4 | 2.0 |
| Manufacturing | 2.7 | -7.8 | 2.1 | 1.7 | 2.0 | 3.3 | 2.8 | -4.6 | -4.9 | 0.0 | 0.8 | 3.4 | 2.7 | 1.7 |
| Labour market | ||||||||||||||
| Total hours worked, Mainland Norway3 | 3.5 | -2.0 | 0.1 | 1.8 | 1.9 | 0.4 | 1.4 | 0.6 | 0.4 | 0.3 | 1.3 | 1.4 | 1.8 | 0.9 |
| Employed persons | 3.2 | -0.5 | -0.5 | 1.5 | 2.1 | 1.1 | 1.2 | 0.4 | 0.2 | 1.1 | 1.5 | 1.1 | 0.7 | 0.8 |
| Labor force4 | 2.9 | 0.2 | 0.6 | 1.3 | 1.5 | 1.2 | 0.7 | 1.5 | 0.2 | -0.2 | 1.5 | 1.3 | 0.7 | 0.6 |
| Participation rate (level)4 | 73.5 | 72.5 | 71.7 | 71.5 | 71.4 | 71.2 | 70.7 | 71.0 | 70.4 | 69.7 | 70.2 | 70.7 | 70.9 | 71.1 |
| Unemployment rate (level)4 | 2.7 | 3.3 | 3.8 | 3.4 | 3.3 | 3.8 | 3.6 | 4.5 | 4.7 | 4.2 | 3.9 | 3.8 | 3.8 | 3.7 |
| Prices and wages | ||||||||||||||
| Wages per standard man-year | 6.3 | 4.2 | 3.7 | 4.2 | 4.0 | 3.9 | 3.1 | 2.8 | 1.7 | 2.3 | 2.8 | 3.2 | 3.6 | 4.1 |
| Consumer price index (CPI) | 3.8 | 2.1 | 2.5 | 1.2 | 0.8 | 2.1 | 2.0 | 2.1 | 3.6 | 1.8 | 2.7 | 1.8 | 1.6 | 1.9 |
| CPI-ATE5 | 2.6 | 2.6 | 1.4 | 0.9 | 1.2 | 1.6 | 2.4 | 2.7 | 3.1 | 1.4 | 1.5 | 1.9 | 1.7 | 1.8 |
| Export prices, traditional goods | 2.8 | -6.0 | 4.5 | 5.8 | -1.9 | 2.7 | 3.4 | 2.0 | 4.0 | 5.4 | 5.7 | 1.2 | 1.3 | 1.7 |
| Import prices, traditional goods | 3.9 | -1.5 | 0.0 | 4.0 | 0.3 | 1.5 | 4.4 | 4.7 | 1.8 | 3.7 | 5.0 | 2.3 | 0.9 | 1.3 |
| Housing prices | -1.0 | 1.9 | 8.2 | 8.0 | 6.8 | 4.1 | 2.7 | 6.0 | 7.0 | 5.0 | 1.6 | 1.4 | 1.2 | 0.6 |
| Income, interest rates and excange rate | ||||||||||||||
| Household real income | 3.4 | 3.2 | 2.3 | 4.1 | 4.4 | 3.9 | 2.9 | 5.5 | -1.7 | 1.7 | 1.7 | 2.5 | 3.1 | 2.5 |
| Household saving ratio (level) | 3.8 | 5.2 | 4.0 | 5.9 | 7.1 | 7.4 | 8.2 | 10.3 | 7.1 | 6.9 | 6.5 | 6.7 | 7.6 | 8.2 |
| Money market rate (level) | 6.2 | 2.5 | 2.5 | 2.9 | 2.2 | 1.8 | 1.7 | 1.3 | 1.1 | 0.9 | 1.1 | 1.3 | 1.8 | 2.3 |
| Lending rate, credit loans(level)6 | 6.8 | 4.0 | 3.4 | 3.6 | 3.9 | 4.0 | 3.9 | 3.2 | 2.6 | 2.6 | 2.6 | 2.9 | 3.2 | 3.7 |
| Real after-tax lending rate, banks (level) | 1.1 | 0.7 | 0.1 | 1.3 | 2.1 | 0.7 | 0.8 | 0.1 | -1.6 | 0.1 | -0.7 | 0.4 | 0.9 | 0.9 |
| Importweighted krone exchange rate (44 countries)7 | 0.0 | 3.3 | -3.8 | -2.4 | -1.2 | 2.2 | 5.3 | 10.4 | 1.9 | -0.8 | 0.0 | -0.6 | -2.1 | -0.8 |
| NOK per euro (level) | 8.22 | 8.73 | 8.01 | 7.79 | 7.47 | 7.81 | 8.35 | 8.95 | 9.29 | 9.33 | 9.59 | 9.48 | 9.28 | 9.20 |
| Current account | ||||||||||||||
| Current balance (bill. NOK)8 | 408 | 261 | 284 | 346 | 371 | 316 | 331 | 246 | 125 | 186 | 324 | 310 | 343 | 370 |
| Current account (per cent of GDP) | 15.7 | 10.7 | 10.9 | 12.4 | 12.5 | 10.3 | 10.5 | 8.1 | 4.0 | 5.7 | 9.2 | 8.4 | 8.9 | 9.2 |
| International indicators | ||||||||||||||
| Exports markets indicator | 1.8 | -9.6 | 11.1 | 6.5 | 1.4 | 2.0 | 5.2 | 5.1 | 4.0 | 4.7 | 3.4 | 4.4 | 4.3 | 4.2 |
| Consumer price index, euro-area | 3.3 | 0.3 | 1.6 | 2.7 | 2.5 | 1.4 | 0.4 | 0.0 | 0.2 | 1.5 | 1.7 | 1.6 | 1.9 | 1.9 |
| Money market rate, euro(level) | 4.6 | 1.2 | 0.8 | 1.4 | 0.6 | 0.2 | 0.2 | 0.0 | -0.3 | -0.3 | -0.3 | 0.0 | 0.5 | 0.9 |
| Crude oil price NOK (level)9 | 539 | 388 | 485 | 621 | 650 | 639 | 622 | 431 | 378 | 453 | 592 | 544 | 532 | 528 |