Decline in total investment for 2020
The latest investment from companies within oil and gas, manufacturing, mining and quarrying and electricity supply show a clear growth in 2019, but growth will decrease in 2020. The reason is lower growth for oil and gas and reduced investment in electricity supply and manufacturing.
The investment survey conducted in November suggest that total investments within oil and gas, manufacturing, mining and quarrying and electricity supply in 2019 will amount to NOK 256.8 billion. This is 16.0 per cent higher than the corresponding figure for 2018, given in November last year. The increase is mainly due to high investments in oil and gas and manufacturing, while lower investment in electricity supply contributes negatively.
Figure 1. Estimated investments collected in 4th quarter same year
|Extraction and pipeline transport||Manufacturing, mining and quarrying||Electricity supply, gas and steam|
Companies’ latest investment estimates for 2020 indicate an increase of 1.2 per cent higher compared to the same figure for 2019 given in November last year. The moderate increase in total investments is due to a further investment growth in within the oil and gas industry, but the increase here is expected to be significantly lower than in 2019. For more detail about investments within the oil and gas industry, please see the see the following article. There is also expected a decline in investment for both manufacturing and electricity supply investments next year.
According to seasonally-adjusted figures, quarterly final investment had the following development from the second to the third quarter of 2019:
- Oil and gas: 3.1 %
- Manufacturing: 12.2 %
- Electricity supply: 7.4 %
Figure 2. Final investments per quarter. Seasonally adjusted. 2005=100
|Manufacturing||Electricity supply, gas and steam||Extraction and pipeline transport|