Strong investment growth in 2019
Final investments for 2019 covering oil and gas, manufacturing, mining and quarrying and electricity supply increased by as much as 15 per cent compared with 2018. The growth is mainly due to high investments within the oil and gas industry. The latest investment estimates for 2020 are also positive, and indicate an increase of 4.2 per cent.
Final investments for 2019 within oil and gas, manufacturing, mining and quarrying and electricity supply amounted to NOK 249.7 billion, measured in current value. This is a strong increase of as much as 15 per cent compared with final investments for 2018. The growth is mainly due to a strong increase within the oil and gas industry, but a high investment level within manufacturing contributed also positively.
Figure 1. Final investments
|Extraction and pipeline transport||Manufacturing, mining and quarrying||Electricity supply, gas and steam|
The latest estimates for 2020 are also positive, and suggest an overall increase of 4.2 per cent compared with the corresponding figure for 2019. The increase in 2020 is driven by positive investment forecasts within the oil and gas industry. For more details about investments within the oil and gas industry, please see the following article. On the other hand, the overall investment growth is dampened by a clear fall within manufacturing.
According to seasonally-adjusted figures, quarterly final investments had following development from the 3rd to the 4th quarter of 2019:
- Oil and gas: 4.2 %
- Manufacturing : - 6.7 %
- Electricity supply: 0.6 %
Figure 2. Final investments per quarter. Seasonally adjusted. 2005=100
|Manufacturing||Electricity supply, gas and steam||Extraction and pipeline transport|