400770
/en/nasjonalregnskap-og-konjunkturer/statistikker/knr/maaned
400770
statistikk
2020-04-07T08:00:00.000Z
National accounts and business cycles
en
knr, National accounts, gross domestic product, GDP, value added, gross product by industry, gross investments, household consumption, consumption in non-profit organisations, public consumption, material production, service production, export, import, wage costs, employment, man-hours, oil investments, mainland NorwayNational accounts , National accounts and business cycles
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National accounts

Updated

Next update

Key figures

0.1 %

seasonally adjusted three-month volume growth for GDP mainland Norway

Final expenditure and gross domestic product. Rolling three-month sum. Seasonally adjusted. Percentage change in volume12
20182019August 2019 - October 2019September 2019 - November 2019October 2019 - December 2019November 2019 - January 2020December 2019 - February 2020
1Figures from 2018 onwards are preliminary.
2Volume change in rolling three months is calculated by comparing a three-month period with the previous three-month period, for example GDP in May to July compared with February to April. Furthermore, a quarter will be the sum of three months. For example, the January-March period will refer to the first quarter.
Gross domestic product1.31.2-0.10.61.51.61.1
Gross domestic product Mainland Norway2.22.30.30.30.20.10.1
Petroleum activities and ocean transport-3.7-5.7-2.72.411.011.48.1
Final domestic use of goods and services2.12.40.3-0.5-1.1-1.10.2
Final consumption expenditure of households and NPISH1.91.70.1-0.2-0.3-0.4-0.4
Final consumption expenditure of general government1.41.70.50.50.70.91.0
Gross fixed capital formation (GFCF)2.86.22.52.70.2-2.3-3.0
Total exports-0.21.5-0.73.86.57.12.4
Total imports1.95.20.40.8-1.0-0.4-0.1
 
Employed persons1.61.7..0.2..
Total hours worked1.81.8..0.6..

See selected tables from this statistics

Table 1 
Final expenditure and gross domestic product. Quarter and year. At constant 2017-prices. NOK million

Final expenditure and gross domestic product. Quarter and year. At constant 2017-prices. NOK million1
201820194th quarter 20181st quarter 20192nd quarter 20193rd quarter 20194th quarter 2019
1Figures from 2018 onwards are preliminary
2Gross domestic product is measured at market prices, while value added by industry is measured at basic prices
Final consumption expenditure of households and NPISHs1 500 2061 525 150393 717366 317380 127378 647400 059
¬ Household final consumption expenditure1 417 9811 440 271371 932344 184359 033359 302377 752
¬¬ Goods640 205640 695171 401149 995161 532158 059171 110
¬¬ Services701 524720 507178 191176 710177 807182 510183 479
¬¬ Direct purchases abroad by resident households122 364127 26028 65625 68232 53538 86530 178
¬¬ Direct purchases by non-residents-46 112-48 190-6 317-8 203-12 841-20 132-7 014
¬ Final consumption expenditure of NPISHs82 22484 87821 78522 13221 09419 34622 307
Final consumption expenditure of general governmen801 937815 677200 046201 635204 882204 096205 063
¬ Final consumption expenditure of central government392 673399 19597 88498 63399 713100 168100 680
¬¬¬ Central government, civilian346 289351 35286 29186 91787 79488 17888 463
¬¬¬ Central government, defence46 38547 84311 59311 71711 92011 99012 217
¬ Final consumption expenditure of local government409 264416 482102 162103 001105 169103 929104 383
 
Gross fixed capital formation (GFCF)832 088883 343223 461204 985216 791225 210236 357
¬ Extraction and transport via pipelines (GFCF)152 688172 57442 27537 51242 95544 41847 690
¬ Ocean transport (GFCF)7633 0564663546788081 215
¬ Mainland Norway (GFCF)678 637707 713180 720167 118173 158179 984187 452
¬¬Næringer (bruttoinvestering)303 888321 01984 20274 29878 16980 63487 917
¬¬¬ Services activities incidential to extraction (GFCF)5 9669 4021 8831 9112 3081 9693 215
¬¬¬ Other services (GFCF)183 409186 95849 64846 09345 90246 16448 799
¬¬¬ Manufacturing and mining (GFCF)44 19455 51013 89511 71612 72713 74717 320
¬¬¬ Production of other goods (GFCF)70 31869 14818 77614 57717 23218 75518 584
¬¬ Dwelling service (households) (GFCF)187 929187 07347 42446 62146 97346 94246 536
¬¬ General government (GFCF)186 820199 62249 09446 20048 01652 40752 998
Acquisitions less disposals of valuables41643911511311095122
Changes in stocks and statistical discrepancies110 95299 34832 80449 19016 45315 97417 731
Gross capital formation943 456983 130256 380254 288233 354241 278254 210
 
Final domestic use of goods and services3 245 5993 323 957850 143822 239818 363824 022859 333
Final demand from Mainland Norway (excl. changes in stocks)2 980 7803 048 539774 484735 070758 167762 728792 575
Final demand from general government988 7581 015 298249 141247 834252 899256 504258 062
 
Total exports1 194 4831 211 840301 294299 011297 015298 508317 307
¬ Traditional goods (export)388 242408 034103 970103 10399 51798 465106 949
¬ Crude oil and natural gas (export)437 789419 071110 632110 54497 74993 496117 282
¬ Ships, oil platforms and aircraft (export)10 99110 9358632 9254 4632 2721 276
¬ Services (export)357 461373 80185 82982 43995 286104 27591 801
 
Total use of goods and services4 440 0824 535 7971 151 4381 121 2501 115 3781 122 5301 176 639
 
Total imports1 102 2051 159 485282 620275 078294 381297 745292 282
¬ Tradisjonelle varer (import)652 116688 935170 013173 143174 797169 166171 829
¬ Crude oil and natural gas (import)19 10119 9324 5163 6634 3666 3155 588
¬ Ships, oil platforms and aircraft (import)35 73933 6128 7906 6389 9979 0917 886
¬ Services (import)395 250417 00699 30091 634105 221113 173106 978
 
Gross domestic product, market values23 337 8773 376 312868 817846 172820 998824 785884 357
Gross domestic product Mainland Norway, market values22 853 3682 919 627745 734726 917712 155721 391759 164
 
Petroleum activities and ocean transport484 509456 685123 083119 256108 842103 394125 193
Gross domestic product Mainland Norway, basic values2 473 9552 534 764647 263633 992616 907624 711659 155
¬ Mainland Norway excluding general government (GDP)1 847 5201 897 238488 902476 439457 392464 986498 422
¬¬ Manufacturing and mining (GDP)217 915224 94357 34556 72755 90153 99758 317
¬¬ Production of other goods (GDP)330 307336 63391 11186 05474 49984 57491 506
¬¬ Service activities (GDP)1 299 2991 335 664340 446333 658326 991326 415348 599
¬ General government (GDP)626 435637 526158 362157 553159 516159 725160 733
Taxes and subsidies products379 413384 86298 47192 92595 24896 681100 009

Table 2 
Final expenditure and gross domestic product. Quarter and year. Seasonally adjusted figures. At constant 2017-prices. NOK million

Final expenditure and gross domestic product. Quarter and year. Seasonally adjusted figures. At constant 2017-prices. NOK million1
201820194th quarter 20181st quarter 20192nd quarter 20193rd quarter 20194th quarter 2019
1Figures from 2018 onwards are preliminary
2Gross domestic product is measured at market prices, while value added by industry is measured at basic prices.
3Includes oil and gas extraction, transport via pipelines and ocean transport.
Final consumption expenditure of households and NPISHs1 500 2061 525 150378 815381 211382 445384 499384 563
¬ Household final consumption expenditure1 417 9811 440 271357 842360 078361 147363 063363 036
¬¬ Goods640 205640 695161 184161 904162 180161 718160 635
¬¬ Services701 524720 507177 233178 706179 823181 132182 595
¬¬ Direct purchases abroad by resident households122 364127 26030 92431 41331 15032 17032 493
¬¬ Direct purchases by non-residents-46 112-48 190-11 500-11 945-12 006-11 957-12 686
¬ Final consumption expenditure of NPISHs82 22484 87820 97421 13221 29721 43621 528
Final consumption expenditure of general governmen801 937815 677200 590202 049203 400204 579205 596
¬ Final consumption expenditure of central government392 673399 19597 91898 84899 506100 127100 712
¬¬¬ Central government, civilian346 289351 35286 35287 09787 60088 13088 523
¬¬¬ Central government, defence46 38547 84311 56611 75111 90611 99712 189
¬ Final consumption expenditure of local government409 264416 482102 672103 201103 894104 453104 884
 
Gross fixed capital formation (GFCF)832 088883 343215 637210 707218 657225 738227 880
¬ Extraction and transport via pipelines (GFCF)152 688172 57440 79339 91043 00043 58045 985
¬ Ocean transport (GFCF)7633 0564733736588021 223
¬ Mainland Norway (GFCF)678 637707 713174 371170 424174 999181 356180 672
¬¬ Industries (GFCF)303 888321 01979 30077 98178 14181 98782 703
¬¬¬ Services activities incidential to extraction (GFCF)5 9669 4021 7301 8462 2702 2423 037
¬¬¬ Other services (GFCF)183 409186 95847 91546 63746 06247 28846 851
¬¬¬ Manufacturing and mining (GFCF)44 19455 51011 78512 54113 05514 72015 166
¬¬¬ Production of other goods (GFCF)70 31869 14817 87016 95716 75417 73617 649
¬¬ Dwelling service (households) (GFCF)187 929187 07347 04746 75747 05647 08946 190
¬¬ General government (GFCF)186 820199 62248 02345 68649 80352 28151 779
Acquisitions less disposals of valuables416439102113108110108
Changes in stocks and statistical discrepancies110 95299 34829 12632 73130 10324 75114 712
Gross capital formation943 456983 130244 865243 551248 869250 599242 700
 
Final domestic use of goods and services3 245 5993 323 957824 270826 811834 713839 677832 860
Final demand from Mainland Norway (excl. changes in stocks)2 980 7803 048 539753 776753 683760 844770 434770 831
Final demand from general government988 7581 015 298248 613247 734253 203256 860257 375
 
Total exports1 194 4831 211 840297 700303 086301 140296 850314 567
¬ Traditional goods (export)388 242408 034101 027103 560101 730101 498103 938
¬ Crude oil and natural gas (export)437 789419 071107 688104 664102 15298 457114 363
¬ Ships, oil platforms and aircraft (export)10 99110 9358632 9254 4632 2721 276
¬ Services (export)357 461373 80188 12291 93792 79594 62494 990
 
Total use of goods and services4 440 0824 535 7971 121 9701 129 8971 135 8531 136 5271 147 426
 
Total imports1 102 2051 159 485280 331287 772292 013292 856290 418
¬ Tradisjonelle varer (import)652 116688 935167 511175 871174 689172 558169 802
¬ Crude oil and natural gas (import)19 10119 9324 5434 1544 0735 8605 552
¬ Ships, oil platforms and aircraft (import)35 73933 6128 7906 6389 9979 0917 886
¬ Services (import)395 250417 00699 488101 109103 254105 346107 178
 
Gross domestic product, market values23 337 8773 376 312841 639842 125843 840843 671857 009
Gross domestic product Mainland Norway, market values22 853 3682 919 627723 501726 743731 191735 811737 074
 
Petroleum activities and ocean transport3484 509456 685118 138115 381112 650107 861119 935
Gross domestic product Mainland Norway, basic values2 473 9552 534 764628 360630 841635 252639 185640 017
¬ Mainland Norway excluding general government (GDP)1 847 5201 897 238470 349472 446476 276479 393479 661
¬¬ Manufacturing and mining (GDP)217 915224 94356 27056 37757 23857 22957 296
¬¬ Production of other goods (GDP)330 307336 63384 43183 45784 80185 58284 490
¬¬ Service activities (GDP)1 299 2991 335 664329 647332 613334 237336 582337 875
¬ General government (GDP)626 435637 526158 011158 395158 976159 792160 356
Taxes and subsidies products379 413384 86295 14195 90295 93896 62697 057

Table 3 
Final expenditure and gross domestic product. Monthly. Seasonally adjusted figures. Percentage change in volume from the previous period

Final expenditure and gross domestic product. Monthly. Seasonally adjusted figures. Percentage change in volume from the previous period1
July 2019August 2019September 2019October 2019November 2019December 2019January 2020February 2020
1Figures from 2018 onwards are preliminary
2Gross domestic product is measured at market prices, while value added by industry is measured at basic prices
3Includes oil and gas extraction, transport via pipelines and ocean transport
Final consumption expenditure of households and NPISHs-0.30.4-0.4-0.20.5-1.00.20.8
¬ Household final consumption expenditure-0.40.4-0.3-0.30.6-1.20.30.8
¬¬ Goods-1.90.80.4-1.01.2-2.4-0.21.8
¬¬ Services0.40.1-0.20.70.30.3-0.1-0.2
¬¬ Direct purchases abroad by resident households3.9-0.4-2.9-1.1-1.30.04.5-0.4
¬¬ Direct purchases by non-residents1.2-2.22.13.9-0.75.6-2.0-2.7
¬ Final consumption expenditure of NPISHs0.80.0-1.91.00.21.0-1.41.6
Final consumption expenditure of general governmen0.20.00.20.20.30.20.70.0
¬ Final consumption expenditure of central government0.4-0.30.10.20.90.01.30.0
¬¬¬ Central government, civilian0.5-0.30.10.00.90.11.6-0.1
¬¬¬ Central government, defence-0.20.00.21.20.5-0.2-0.50.6
¬ Final consumption expenditure of local government0.00.20.40.2-0.20.40.10.1
Gross fixed capital formation (GFCF)5.0-0.21.61.0-3.10.7-2.8-0.7
¬ Extraction and transport via pipelines (GFCF)6.20.8-3.16.4-1.91.4-4.8-2.8
¬ Ocean transport (GFCF)-19.4840.2-50.0269.8-72.3-81.7952.0..
¬ Mainland Norway (GFCF)4.7-1.23.2-1.4-2.31.0-3.00.8
¬¬ Mainland Norway excluding general government (GFCF)4.9-1.80.31.1-2.60.8-3.21.2
¬¬¬ Industries (GFCF)7.6-2.81.22.1-2.92.7-3.11.2
¬¬¬¬ Services activities incidential to extraction (GFCF)-4.11.3-1.524.0-2.54.4-37.82.4
¬¬¬¬ Other services (GFCF)4.4-2.22.31.3-4.0-1.22.1-1.0
¬¬¬¬ Manufacturing and mining (GFCF)11.70.5-0.21.4-0.82.7-7.32.4
¬¬¬¬ Production of other goods (GFCF)14.8-7.2-0.42.0-1.613.0-6.95.9
¬¬¬ Dwelling service (households) (GFCF)0.5-0.1-1.1-0.7-2.1-2.7-3.61.2
¬¬¬ General government (GFCF)4.30.510.5-7.0-1.51.4-2.4-0.1
Acquisitions less disposals of valuables11.9-5.84.13.0-7.00.59.2-1.1
Changes in stocks and statistical discrepancies-5.6-12.2-13.77.6-60.971.9115.4-18.6
Gross capital formation3.6-1.60.01.6-8.63.75.3-3.2
Final domestic use of goods and services1.0-0.3-0.10.4-2.30.61.8-0.6
Final demand from Mainland Norway (excl. changes in stocks)1.0-0.10.6-0.4-0.2-0.2-0.40.6
Final demand from general government1.00.12.3-1.3-0.10.50.10.0
Total exports0.4-1.62.00.18.10.4-5.72.3
¬ Traditional goods (export)-1.63.20.20.01.20.4-3.81.4
¬ Crude oil and natural gas (export)3.6-6.90.63.921.41.6-12.65.4
¬ Ships, oil platforms and aircraft (export)-68.5-72.61 524.9-80.5109.4-70.7-36.642.9
¬ Services (export)1.90.00.00.90.40.51.3-0.5
Total use of goods and services0.8-0.60.40.30.40.6-0.30.2
Total imports0.7-0.63.2-3.0-0.51.50.2-1.1
¬ Tradisjonelle varer (import)-0.3-0.50.8-2.4-0.82.0-0.7-0.9
¬ Crude oil and natural gas (import)34.6-19.8-3.7-31.783.14.1-0.2-14.5
¬ Ships, oil platforms and aircraft (import)-23.77.9152.4-38.1-23.3-8.3-10.1-11.0
¬ Services (import)2.60.0-1.22.5-0.71.22.30.0
Gross domestic product, market values20.9-0.6-0.51.50.70.2-0.50.6
Gross domestic product Mainland Norway, market values20.8-0.30.00.30.1-0.30.20.3
Petroleum activities and ocean transport31.4-3.0-4.410.64.93.7-4.42.4
Gross domestic product Mainland Norway, basic values0.7-0.2-0.10.30.2-0.40.50.1
¬ Mainland Norway excluding general government (GDP)0.9-0.4-0.20.40.2-0.70.40.2
¬¬ Manufacturing and mining (GDP)1.1-1.2-0.91.0-0.10.4-0.60.1
¬¬ Production of other goods (GDP)2.1-0.6-0.80.9-0.1-3.92.70.7
¬¬ Service activities (GDP)0.6-0.20.10.10.30.00.00.1
¬ General government (GDP)0.10.30.10.00.30.30.7-0.2
Taxes and subsidies products1.2-0.70.90.2-0.70.4-1.61.7

Table 4 
Final expenditure and gross domestic product. Rolling three-month sum. Seasonally adjusted. Percentage change in volume

Final expenditure and gross domestic product. Rolling three-month sum. Seasonally adjusted. Percentage change in volume12
May 2019 - July 2019June 2019 - August 2019July 2019 - September 2019August 2019 - October 2019September 2019 - November 2019October 2019 - December 2019November 2019 - January 2020December 2019 - February 2020
1Figures from 2018 onwards are prelimanry
2Rolling three-month growth is calculated by comparing a three-month period with the previous three-month period, for example growth in May to July compared with February to April. Furthermore, March, June, September and December represent the quarters in a year. For example, March will represent the first quarter.
3Gross domestic product is measured at market prices, while value added by industry is measured at basic prices.
4Includes oil and gas extraction, transport via pipelines and ocean transport.
Final consumption expenditure of households and NPISHs0.40.50.30.1-0.2-0.3-0.4-0.4
¬ Household final consumption expenditure0.40.50.30.1-0.1-0.4-0.4-0.4
¬¬ Goods-0.1-0.3-0.5-0.10.0-0.5-1.1-1.5
¬¬ Services0.70.80.70.50.50.80.80.5
¬¬ Direct purchases abroad by resident households0.51.92.2-0.5-3.1-4.0-1.51.6
¬¬ Direct purchases by non-residents-0.8-1.7-0.60.93.46.05.64.0
¬ Final consumption expenditure of NPISHs0.91.20.6-0.1-0.90.20.41.1
Final consumption expenditure of general governmen0.90.80.60.50.50.70.91.0
¬ Final consumption expenditure of central government1.01.00.70.30.50.71.51.5
¬¬¬ Central government, civilian0.90.90.70.30.40.61.51.7
¬¬¬ Central government, defence1.41.50.70.81.11.61.10.4
¬ Final consumption expenditure of local government0.70.60.60.60.60.60.40.5
Gross fixed capital formation (GFCF)4.10.83.02.52.70.2-2.3-3.0
¬ Extraction and transport via pipelines (GFCF)5.01.11.62.83.03.60.4-2.1
¬ Ocean transport (GFCF)6.713.621.9433.8130.952.7-52.5-66.7
¬ Mainland Norway (GFCF)3.90.73.31.72.2-0.9-2.5-2.8
¬¬ Mainland Norway excluding general government (GFCF)1.90.82.80.90.5-0.8-2.4-2.4
¬¬¬ Industries (GFCF)2.71.14.82.02.10.8-0.4-0.3
¬¬¬¬ Services activities incidential to extraction (GFCF)10.51.8-3.94.712.622.90.0-17.3
¬¬¬¬ Other services (GFCF)1.8-1.02.60.51.7-1.0-2.5-2.5
¬¬¬¬ Manufacturing and mining (GFCF)6.78.211.77.94.41.8-0.7-1.6
¬¬¬¬ Production of other goods (GFCF)1.11.46.41.0-0.22.35.69.4
¬¬¬ Dwelling service (households) (GFCF)0.70.1-0.3-1.1-2.1-3.7-5.8-6.2
¬¬¬ General government (GFCF)9.10.74.53.96.6-1.2-3.0-3.7
Acquisitions less disposals of valuables-0.9-4.51.90.83.3-1.0-0.62.2
Changes in stocks and statistical discrepancies-14.4-1.9-12.5-14.8-35.5-36.1-16.542.1
Gross capital formation1.60.51.10.5-1.8-3.6-3.70.4
Final domestic use of goods and services0.90.60.70.3-0.5-1.1-1.10.2
Final demand from Mainland Norway (excl. changes in stocks)1.30.61.10.60.6-0.2-0.5-0.6
Final demand from general government2.40.81.41.21.70.30.10.0
Total exports-0.8-2.3-1.6-0.73.86.57.12.4
¬ Traditional goods (export)-1.2-0.8-0.41.52.22.20.3-0.9
¬ Crude oil and natural gas (export)-1.4-5.2-4.1-4.96.817.020.88.5
¬ Ships, oil platforms and aircraft (export)-30.2-54.6-49.3-6.860.6-43.8-52.0-81.1
¬ Services (export)1.31.62.11.61.41.41.81.8
Total use of goods and services0.4-0.20.10.10.70.91.10.8
Total imports0.5-1.00.30.40.8-1.0-0.4-0.1
¬ Tradisjonelle varer (import)-1.9-2.0-1.2-1.0-1.5-1.9-1.1-0.1
¬ Crude oil and natural gas (import)7.952.144.0-0.2-10.9-2.941.626.5
¬ Ships, oil platforms and aircraft (import)26.0-35.8-9.115.168.3-13.3-35.4-43.9
¬ Services (import)2.52.32.01.51.11.62.13.1
Gross domestic product, market values30.40.10.0-0.10.61.51.61.1
Gross domestic product Mainland Norway, market values0.70.60.60.30.30.20.10.1
Petroleum activities and ocean transport4-1.8-3.2-4.0-2.72.411.011.48.1
Gross domestic product Mainland Norway, basic values0.80.70.60.30.30.10.20.1
¬ Mainland Norway excluding general government (GDP)1.00.80.60.20.20.00.1-0.1
¬¬ Manufacturing and mining (GDP)1.50.8-0.1-0.8-0.60.20.40.3
¬¬ Production of other goods (GDP)2.51.40.90.10.0-1.2-1.5-1.7
¬¬ Service activities (GDP)0.50.60.70.40.40.30.40.3
¬ General government (GDP)0.40.50.50.50.50.50.70.8
Taxes and subsidies products0.1-0.10.60.60.80.2-0.6-0.6

Table 5 
Final expenditure and gross domestic product. Quarter and year. At current prices. NOK million

Final expenditure and gross domestic product. Quarter and year. At current prices. NOK million1
201820194th quarter 20181st quarter 20192nd quarter 20193rd quarter 20194th quarter 2019
1Figures from 2018 onwards are prelimanry
2Gross domestic product is measured at market prices, while value added by industry is measured at basic prices
3Includes oil and gas extraction, transport via pipelines and ocean transport.
Final consumption expenditure of households and NPISHs1 533 5701 593 815405 715385 002397 710391 103420 001
¬ Household final consumption expenditure1 449 0711 503 904382 520362 234374 875371 083395 712
¬¬ Goods658 422668 193179 146157 546167 942163 754178 951
¬¬ Services714 718754 201180 807186 914187 080188 297191 909
¬¬ Direct purchases abroad by resident households123 446132 25029 12526 29033 36540 34632 250
¬¬ Direct purchases by non-residents-47 515-50 740-6 558-8 516-13 512-21 315-7 398
¬ Final consumption expenditure of NPISHs84 49889 91123 19522 76822 83520 02024 288
Final consumption expenditure of general governmen826 777866 164206 433210 508221 954215 746217 957
¬ Final consumption expenditure of central government405 017424 443102 524102 846108 208105 306108 083
¬¬¬ Central government, civilian356 692373 23589 62490 80395 04592 79594 592
¬¬¬ Central government, defence48 32451 20812 90012 04313 16412 51013 491
¬ Final consumption expenditure of local government421 761441 721103 909107 662113 745110 440109 874
 
Gross fixed capital formation (GFCF)851 475926 603231 162212 685227 625236 215250 078
¬ Extraction and transport via pipelines (GFCF)153 421178 86743 35537 95244 58045 97450 359
¬ Ocean transport (GFCF)8483 4394544247448931 378
¬ Mainland Norway (GFCF)697 207744 298187 352174 309182 301189 347198 340
¬¬ Industries (GFCF)310 982335 79586 79777 23481 78884 14092 632
¬¬¬ Services activities incidential to extraction (GFCF)6 1049 8811 9521 9932 4302 0583 401
¬¬¬ Other services (GFCF)187 638195 35451 13347 87948 01548 10451 357
¬¬¬ Manufacturing and mining (GFCF)45 25158 14714 33912 20313 33514 36918 240
¬¬¬ Production of other goods (GFCF)71 99072 41219 37215 15918 00919 61019 634
¬¬ welling service (households) (GFCF)193 523197 17049 35648 65249 55949 64849 312
¬¬ General government (GFCF)192 701211 33351 20048 42350 95455 55956 397
Acquisitions less disposals of valuables428470120120117101131
Changes in stocks and statistical discrepancies113 499100 23032 63050 20016 32016 87316 836
Gross capital formation965 4021 027 303263 911263 006244 063253 189267 044
 
Final domestic use of goods and services3 325 7493 487 282876 059858 515863 727860 038905 002
Final demand from Mainland Norway (excl. changes in stocks)3 057 5543 204 277799 500769 818801 965796 196836 298
Final demand from general government1 019 4781 077 497257 633258 931272 907271 305274 354
 
Total exports1 357 3211 300 878354 354335 419318 483308 916338 060
¬ Traditional goods (export)410 981433 304109 807108 579107 596103 139113 990
¬ Crude oil and natural gas (export)569 384453 489153 446135 237105 77491 267121 211
¬ Ships, oil platforms and aircraft (export)11 09411 2128862 9084 4642 4291 410
¬ Services (export)365 862402 87490 21588 695100 649112 081101 449
 
Total use of goods and services4 683 0704 788 1601 230 4131 193 9341 182 2101 168 9541 243 062
 
Total imports1 152 2091 250 538300 186293 190313 808320 394323 147
¬ Tradisjonelle varer (import)681 757737 832180 674182 816186 239180 531188 246
¬ Crude oil and natural gas (import)24 57925 0125 7894 4595 5797 9127 062
¬ Ships, oil platforms and aircraft (import)37 56937 7879 4957 46611 12910 0669 126
¬ Services (import)408 304449 907104 22898 449110 861121 885118 713
 
Gross domestic product, market values23 530 8603 537 622930 228900 745868 403848 560919 915
Gross domestic product Mainland Norway, market values22 906 8713 038 996761 957755 747749 379745 246788 624
 
Petroleum activities and ocean transport3623 989498 627168 271144 997119 024103 314131 291
Gross domestic product Mainland Norway, basic values2 514 4362 638 000658 767660 488650 130643 985683 398
¬ Mainland Norway excluding general government (GDP)1 871 3201 963 248496 761497 889476 050475 874513 435
¬¬ Manufacturing and mining (GDP)213 696227 89756 96055 68556 53756 63659 039
¬¬ Production of other goods (GDP)356 377362 38699 64396 03080 35888 00697 991
¬¬ Service activities (GDP)1 301 2471 372 965340 159346 173339 155331 232356 404
¬ General government (GDP)643 116674 753162 005162 599174 080168 111169 963
Taxes and subsidies products392 435400 995103 19095 26099 249101 260105 226

Table 6 
Final expenditure and gross domestic product. Quarter and year. Percentage change in volume from the same period in the previous year

Final expenditure and gross domestic product. Quarter and year. Percentage change in volume from the same period in the previous year1
201820194th quarter 20181st quarter 20192nd quarter 20193rd quarter 20194th quarter 2019
1Figures from 2018 onwards are prelimanry
2Gross domestic product is measured at market prices, while value added by industry is measured at basic prices.
3Includes oil and gas extraction, transport via pipelines and ocean transport.
Final consumption expenditure of households and NPISHs1.91.71.42.70.12.31.6
¬ Household final consumption expenditure1.81.61.22.40.12.21.6
¬¬ Goods0.70.1-0.70.3-0.81.0-0.2
¬¬ Services2.32.72.44.01.02.93.0
¬¬ Direct purchases abroad by resident households4.24.04.94.22.04.55.3
¬¬ Direct purchases by non-residents0.34.50.01.74.73.411.0
¬ Final consumption expenditure of NPISHs4.13.24.96.8-0.54.42.4
Final consumption expenditure of general governmen1.41.70.00.91.52.02.5
¬ Final consumption expenditure of central government0.81.7-0.80.61.31.82.9
¬¬¬ Central government, civilian0.81.5-0.90.51.21.72.5
¬¬¬ Central government, defence1.33.10.01.42.53.35.4
¬ Final consumption expenditure of local government1.91.80.81.11.62.12.2
 
Gross fixed capital formation (GFCF)2.86.25.66.64.67.75.8
¬ Extraction and transport via pipelines (GFCF)1.913.07.019.210.910.512.8
¬ Ocean transport (GFCF)-19.1300.354.1-24.51 751.1..160.9
¬ Mainland Norway (GFCF)3.04.35.24.22.86.53.7
¬¬ Industries (GFCF)6.85.69.88.91.58.44.4
¬¬¬ Services activities incidential to extraction (GFCF)40.757.619.250.538.871.070.7
¬¬¬ Other services (GFCF)3.71.97.85.90.24.0-1.7
¬¬¬ Manufacturing and mining (GFCF)16.725.614.529.915.034.624.6
¬¬¬ Production of other goods (GFCF)7.3-1.711.01.1-6.80.7-1.0
¬¬ Dwelling service (households) (GFCF)-6.2-0.5-3.0-3.11.41.9-1.9
¬¬ General government (GFCF)7.56.96.44.86.57.98.0
Acquisitions less disposals of valuables7.25.7-8.29.90.18.15.4
Changes in stocks and statistical discrepancies3.2-10.5-6.418.8-36.447.1-45.9
Gross capital formation2.94.23.98.70.19.7-0.8
 
Final domestic use of goods and services2.12.41.84.00.44.31.1
Final demand from Mainland Norway (excl. changes in stocks)2.02.31.92.51.13.22.3
Final demand from general government2.52.71.21.62.43.13.6
 
Total exports-0.21.50.32.30.1-1.95.3
¬ Traditional goods (export)2.05.13.09.03.55.32.9
¬ Crude oil and natural gas (export)-4.8-4.3-2.6-4.3-6.0-13.26.0
¬ Ships, oil platforms and aircraft (export)-38.2-0.5-59.9-20.423.2-19.847.8
¬ Services (export)5.44.62.45.12.54.07.0
 
Total use of goods and services1.42.21.43.60.32.62.2
 
Total imports1.95.20.87.63.46.63.4
¬ Tradisjonelle varer (import)3.25.61.111.94.16.11.1
¬ Crude oil and natural gas (import)39.04.332.3-20.9-16.132.923.7
¬ Ships, oil platforms and aircraft (import)-19.3-6.00.0-20.8-4.812.7-10.3
¬ Services (import)0.95.5-0.74.44.15.77.7
 
Gross domestic product, market values21.31.21.62.3-0.71.21.8
Gross domestic product Mainland Norway, market values22.22.32.53.70.33.61.8
 
Petroleum activities and ocean transport3-3.7-5.7-3.6-5.4-6.7-12.91.7
Gross domestic product Mainland Norway, basic values2.42.52.74.00.33.81.8
¬ Mainland Norway excluding general government (GDP)2.32.72.84.7-0.24.51.9
¬¬ Manufacturing and mining (GDP)0.83.22.75.91.34.11.7
¬¬ Production of other goods (GDP)2.01.92.91.3-0.66.70.4
¬¬ Service activities (GDP)2.62.82.85.4-0.44.02.4
¬ General government (GDP)2.61.82.62.01.91.71.5
Taxes and subsidies products1.01.40.81.40.12.61.6

Table 7 
Final expenditure and gross domestic product. Quarter and year. Percentage change in prices from the same period in the previous year

Final expenditure and gross domestic product. Quarter and year. Percentage change in prices from the same period in the previous year1
201820194th quarter 20181st quarter 20192nd quarter 20193rd quarter 20194th quarter 2019
1Figures from 2018 onwards are prelimanry
2Gross domestic product is measured at market prices, while value added by industry is measured at basic prices.
3Includes oil and gas extraction, transport via pipelines and ocean transport.
Final consumption expenditure of households and NPISHs2.22.22.72.82.41.91.9
¬ Household final consumption expenditure2.22.22.62.82.31.81.9
¬¬ Goods2.81.43.93.51.80.50.1
¬¬ Services1.92.72.02.42.82.73.1
¬¬ Direct purchases abroad by resident households0.93.0-0.71.42.33.05.1
¬¬ Direct purchases by non-residents3.02.23.72.92.42.01.6
¬ Final consumption expenditure of NPISHs2.83.12.93.13.63.72.3
Final consumption expenditure of general governmen3.13.03.63.12.73.23.0
¬ Final consumption expenditure of central government3.13.14.03.83.13.02.5
¬¬¬ Central government, civilian3.03.13.43.72.92.93.0
¬¬¬ Central government, defence4.22.78.34.23.93.8-0.8
¬ Final consumption expenditure of local government3.12.93.32.42.33.53.5
 
Gross fixed capital formation (GFCF)2.32.53.22.42.92.52.3
¬ Extraction and transport via pipelines (GFCF)0.53.23.60.64.34.43.0
¬ Ocean transport (GFCF)11.01.3..5.0-35.013.416.3
¬ Mainland Norway (GFCF)2.72.42.72.82.62.12.1
¬¬ Industries (GFCF)2.32.22.02.62.31.92.2
¬¬¬ Services activities incidential to extraction (GFCF)2.32.71.72.83.33.02.0
¬¬¬ Other services (GFCF)2.32.11.92.62.11.72.2
¬¬¬ Manufacturing and mining (GFCF)2.42.33.32.72.42.22.1
¬¬¬ Production of other goods (GFCF)2.42.31.32.52.32.02.4
¬¬ Dwelling service (households) (GFCF)3.02.42.82.92.62.01.8
¬¬ General government (GFCF)3.12.63.73.13.12.42.0
Acquisitions less disposals of valuables3.03.821.13.83.93.83.6
Changes in stocks and statistical discrepancies2.3-1.4-5.30.2-6.00.7-4.5
Gross capital formation2.32.12.02.02.12.42.1
 
Final domestic use of goods and services2.52.42.72.62.42.42.2
Final demand from Mainland Norway (excl. changes in stocks)2.62.52.92.92.52.32.2
Final demand from general government3.12.93.63.12.73.12.8
 
Total exports13.6-5.511.91.4-3.8-9.8-9.4
¬ Traditional goods (export)5.90.36.00.60.5-0.70.9
¬ Crude oil and natural gas (export)30.1-16.823.11.7-13.6-28.4-25.5
¬ Ships, oil platforms and aircraft (export)0.91.61.7-0.3-0.74.67.6
¬ Services (export)2.45.33.53.55.16.95.1
 
Total use of goods and services5.50.15.22.30.6-1.3-1.1
 
Total imports4.53.23.92.92.73.04.1
¬ Tradisjonelle varer (import)4.52.44.12.32.61.93.1
¬ Crude oil and natural gas (import)28.7-2.513.42.4-3.1-7.3-1.4
¬ Ships, oil platforms and aircraft (import)5.16.95.15.89.25.67.1
¬ Services (import)3.34.42.74.22.94.75.7
 
Gross domestic product, market values25.8-0.95.62.0-0.1-2.8-2.8
Gross domestic product Mainland Norway, market values21.92.22.82.42.32.31.7
 
Petroleum activities and ocean transport328.8-15.220.81.5-12.1-25.7-23.3
Gross domestic product Mainland Norway, basic values1.62.42.72.52.62.81.9
¬ Mainland Norway excluding general government (GDP)1.32.22.52.42.62.31.4
¬¬ Manufacturing and mining (GDP)-1.93.30.5-1.33.59.61.9
¬¬ Production of other goods (GDP)7.9-0.211.05.40.9-4.8-2.1
¬¬ Service activities (GDP)0.12.60.62.22.93.12.3
¬ General government (GDP)2.73.13.42.72.44.03.4
Taxes and subsidies products3.40.73.61.90.9-0.20.4

Table 8 
Final expenditure and gross domestic product. Quarter and year. Seasonally adjusted figures. At current prices. NOK million

Final expenditure and gross domestic product. Quarter and year. Seasonally adjusted figures. At current prices. NOK million1
201820194th quarter 20181st quarter 20192nd quarter 20193rd quarter 20194th quarter 2019
1Figures from 2018 onwards are prelimanry
2Includes oil and gas extraction, transport via pipelines and ocean transport.
Final consumption expenditure of households and NPISHs1 533 5701 593 815391 070395 591398 192401 603404 794
¬ Household final consumption expenditure1 449 0711 503 904369 126373 441375 654378 774381 797
¬¬ Goods658 422668 193168 143168 394168 848168 163167 758
¬¬ Services714 718754 201181 773185 406187 371189 697193 039
¬¬ Direct purchases abroad by resident households123 446132 25031 21832 10532 06433 53134 442
¬¬ Direct purchases by non-residents-47 515-50 740-12 007-12 464-12 629-12 616-13 442
¬ Final consumption expenditure of NPISHs84 49889 91121 94422 15022 53822 82922 997
Final consumption expenditure of general governmen826 777866 164209 187212 459214 621218 340220 880
¬ Final consumption expenditure of central government405 017424 443102 250104 521105 248106 830107 889
¬¬¬ Central government, civilian356 692373 23589 75592 04392 57693 86294 821
¬¬¬ Central government, defence48 32451 20812 49512 47812 67212 96813 067
¬ Final consumption expenditure of local government421 761441 721106 937107 937109 373111 510112 992
 
Gross fixed capital formation (GFCF)851 475926 603222 918218 662228 942237 433241 187
¬ Extraction and transport via pipelines (GFCF)153 421178 86741 78040 18144 52045 50248 538
¬ Ocean transport (GFCF)8483 4394624437228881 386
¬ Mainland Norway (GFCF)697 207744 298180 677178 039183 700191 043191 264
¬¬ Industries (GFCF)310 982335 79581 75880 87081 52585 90187 284
¬¬¬ Services activities incidential to extraction (GFCF)6 1049 8811 7951 9222 3882 3463 218
¬¬¬ Other services (GFCF)187 638195 35449 29148 37548 01949 52849 310
¬¬¬ Manufacturing and mining (GFCF)45 25158 14712 23812 98913 62115 42016 089
¬¬¬ Production of other goods (GFCF)71 99072 41218 43317 58417 49718 60818 667
¬¬ Dwelling service (households) (GFCF)193 523197 17048 89149 10049 53849 66948 896
¬¬ General government (GFCF)192 701211 33350 02848 06952 63755 47355 083
Acquisitions less disposals of valuables428470110116114118121
Changes in stocks and statistical discrepancies113 499100 23025 72532 04728 56828 65812 979
Gross capital formation965 4021 027 303248 754250 826257 625266 210254 287
 
Final domestic use of goods and services3 325 7493 487 282849 011858 875870 438886 152879 961
Final demand from Mainland Norway (excl. changes in stocks)3 057 5543 204 277780 934786 089796 513810 986816 938
Final demand from general government1 019 4781 077 497259 215260 528267 258273 813275 963
 
Total exports1 357 3211 300 878348 035335 399325 726311 266332 868
¬ Traditional goods (export)410 981433 304107 582108 512108 351107 039111 634
¬ Crude oil and natural gas (export)569 384453 489147 617127 320113 79598 294115 779
¬ Ships, oil platforms and aircraft (export)11 09411 2128862 9084 4642 4291 410
¬ Services (export)365 862402 87491 95096 65999 116103 504104 044
 
Total use of goods and services4 683 0704 788 1601 197 0461 194 2741 196 1641 197 4181 212 829
 
Total imports1 152 2091 250 538295 796304 931312 296317 757319 095
¬ Tradisjonelle varer (import)681 757737 832176 855185 262186 337185 562184 723
¬ Crude oil and natural gas (import)24 57925 0125 6464 9905 3327 4506 834
¬ Ships, oil platforms and aircraft (import)37 56937 7879 4957 46611 12910 0669 126
¬ Services (import)408 304449 907103 800107 213109 498114 678118 411
 
Gross domestic product, market values3 530 8603 537 622901 250889 343883 869879 662893 734
Gross domestic product Mainland Norway, market values2 906 8713 038 996745 264752 029758 100767 889771 991
 
Petroleum activities and ocean transport2623 989498 627155 986137 314125 769111 773121 743
Gross domestic product Mainland Norway, basic values2 514 4362 638 000646 096652 447658 433666 900670 962
¬ Mainland Norway excluding general government (GDP)1 871 3201 963 248481 991487 087491 540496 459498 783
¬¬ Manufacturing and mining (GDP)213 696227 89756 61355 33257 59459 79658 523
¬¬ Production of other goods (GDP)356 377362 38692 52791 31391 15090 30390 968
¬¬ Service activities (GDP)1 301 2471 372 965332 851340 442342 796346 360349 292
¬ General government (GDP)643 116674 753164 106165 360166 893170 441172 179
Taxes and subsidies products392 435400 99599 16899 58299 667100 988101 029

Table 9 
Final expenditure and gross domestic product. Quarter and year. Seasonally adjusted figures. Percentage change in volume from the previous period.

Final expenditure and gross domestic product. Quarter and year. Seasonally adjusted figures. Percentage change in volume from the previous period.1
201820194th quarter 20181st quarter 20192nd quarter 20193rd quarter 20194th quarter 2019
1Figures from 2018 onwards are prelimanry
2Gross domestic product is measured at market prices, while value added by industry is measured at basic prices.
3Includes oil and gas extraction, transport via pipelines and ocean transport.
Final consumption expenditure of households and NPISHs1.91.70.40.60.30.50.0
¬ Household final consumption expenditure1.81.60.40.60.30.50.0
¬¬ Goods0.70.10.10.40.2-0.3-0.7
¬¬ Services2.32.70.30.80.60.70.8
¬¬ Direct purchases abroad by resident households4.24.01.61.6-0.83.31.0
¬¬ Direct purchases by non-residents0.34.5-0.33.90.5-0.46.1
¬ Final consumption expenditure of NPISHs4.13.21.60.80.80.60.4
Final consumption expenditure of general governmen1.41.70.00.70.70.60.5
¬ Final consumption expenditure of central government0.81.7-0.40.90.70.60.6
¬¬¬ Central government, civilian0.81.5-0.40.90.60.60.4
¬¬¬ Central government, defence1.33.1-0.41.61.30.81.6
¬ Final consumption expenditure of local government1.91.80.30.50.70.50.4
 
Gross fixed capital formation (GFCF)2.86.22.8-2.33.83.20.9
¬ Extraction and transport via pipelines (GFCF)1.913.03.7-2.27.71.45.5
¬ Ocean transport (GFCF)-19.1300.3..-21.276.421.852.5
¬ Mainland Norway (GFCF)3.04.32.2-2.32.73.6-0.4
¬¬ Industries (GFCF)6.85.64.5-1.70.24.90.9
¬¬¬ Services activities incidential to extraction (GFCF)40.757.623.36.723.0-1.235.5
¬¬¬ Other services (GFCF)3.71.95.1-2.7-1.22.7-0.9
¬¬¬ Manufacturing and mining (GFCF)16.725.65.26.44.112.83.0
¬¬¬ Production of other goods (GFCF)7.3-1.70.9-5.1-1.25.9-0.5
¬¬ Dwelling service (households) (GFCF)-6.2-0.51.7-0.60.60.1-1.9
¬¬ General government (GFCF)7.56.9-1.1-4.99.05.0-1.0
Acquisitions less disposals of valuables7.25.7-0.310.6-4.61.7-1.3
Changes in stocks and statistical discrepancies3.2-10.527.412.4-8.0-17.8-40.6
Gross capital formation2.94.25.2-0.52.20.7-3.2
 
Final domestic use of goods and services2.12.41.70.31.00.6-0.8
Final demand from Mainland Norway (excl. changes in stocks)2.02.30.70.01.01.30.1
Final demand from general government2.52.7-0.2-0.42.21.40.2
 
Total exports-0.21.5-2.21.8-0.6-1.46.0
¬ Traditional goods (export)2.05.13.42.5-1.8-0.22.4
¬ Crude oil and natural gas (export)-4.8-4.3-4.6-2.8-2.4-3.616.2
¬ Ships, oil platforms and aircraft (export)-38.2-0.5-69.5238.952.6-49.1-43.8
¬ Services (export)5.44.6-3.34.30.92.00.4
 
Total use of goods and services1.42.20.60.70.50.11.0
 
Total imports1.95.21.72.71.50.3-0.8
¬ Tradisjonelle varer (import)3.25.62.15.0-0.7-1.2-1.6
¬ Crude oil and natural gas (import)39.04.35.7-8.6-1.943.9-5.3
¬ Ships, oil platforms and aircraft (import)-19.3-6.09.0-24.550.6-9.1-13.3
¬ Services (import)0.95.50.31.62.12.01.7
 
Gross domestic product, market values21.31.20.30.10.20.01.6
Gross domestic product Mainland Norway, market values22.22.31.20.40.60.60.2
 
Petroleum activities and ocean transport3-3.7-5.7-4.9-2.3-2.4-4.311.2
Gross domestic product Mainland Norway, basic values2.42.51.30.40.70.60.1
¬ Mainland Norway excluding general government (GDP)2.32.71.50.40.80.70.1
¬¬ Manufacturing and mining (GDP)0.83.21.60.21.50.00.1
¬¬ Production of other goods (GDP)2.01.94.2-1.21.60.9-1.3
¬¬ Service activities (GDP)2.62.80.90.90.50.70.4
¬ General government (GDP)2.61.80.60.20.40.50.4
Taxes and subsidies products1.01.40.20.80.00.70.4

About the statistics

The national accounts provide an overview of the state and development in the Norwegian economy. Key figures are gross domestic product (GDP), consumption, gross investment, exports and imports, employment and wages, profitability in industries and productivity. 1st to 3rd quarter is published with monthly national accounts in May, August and November. 4th quarter will be published February the following year, figures for t-2 in August.

Definitions

Definitions of the main concepts and variables

See Concepts and definitions in national accounts for explanations.

Valuation

Registration of values: A transaction may be registered at different values, depending on under which circumstances it is registered. Different concepts regarding valuation are also relevant for the general aspect of registration (cf. cash values or accruals values, and other principles for the recording of statistical data). The transactions of variables in the national accounts follow the accrual principle. Thus, taxes and subsidies on production should be registered as accrued values and not as cash values as recorded in the government accounts.

In the description of the transaction of goods and services several price concepts are used. Output is valued at basic prices. Basic price is the price the seller receives, after corresponding taxes on the product are deducted (and subsidies added). The use categories, both intermediate consumption and final use, are valued at purchaser prices, that is the price the purchaser must pay. Exports are valued at fob (free on board), while imports are valued at cif (cost-insurance-freight).

The value added of an industry is "valued" at basic prices (calculated as output at basic prices less intermediate consumption at purchaser prices). The total value added of all the industries is also "valued" at basic prices.

GDP is "valued" at market prices, which means that taxes on products, including VAT, less subsidies on products are added to the total value added of the industries at basic prices.

 

Standard classifications

The accounting system of the Norwegian national accounts is based on the international standards for national accounts, i.e. 2008 SNA and ESA 2010. The accounting system outlines the framework and contents for production of national accounts statistics. The level of detail in the classifications used for compilation of quarterly and preliminary annual national accounts are more aggregated than in that used for calculation of the annual national accounts.

In addition to accounting structure, the international standards give recommendations of groupings or classifications to be used in the national accounts:

Activity classification

The classification of Industries in the National Accounts follows the Norwegian Standard Industrial Classification (SN2007), which is based on NACE Rev.2. Several levels of aggregation have been introduced for publication and reporting purposes.

Classification of non-financial assets and gross fixed capital formation

Non-financial assets are classified by type of aggregates defined in 2008 SNA, such as fixed assets, inventories, valuables, and non-produced assets, including both tangible assets such as land, subsoil-assets, water resources etc., and intangible assets such as transferable contracts etc. Gross fixed capital formation is grouped by main type within building and construction, machinery and equipment and transportation equipment.

Product classification

The product classification used in the national accounts is based on the EU's standard product classification CPA - Statistical Classification of Products by Activity in the European Community. The CPA groups products by activities, i.e. it defines characteristic products within each activity and connects them to the activity classification NACE Rev.2. The annual accounts supply and use tables contain about 700 products, in addition to which some products are also incorporated purely for technical reasons. The system to elaborate preliminary annual and quarterly accounts contains about 90 products. The separation on products might to large extent be considered as a tool to balance the national account system and to undertake calculations in constants prices.

Classification of individual consumption by purpose

The classification of Consumption expenditure groups in the National Accounts is based on the international classification COICOP - Classification of Individual Consumption by Purpose, published by the UN.

Classification of the functions of government

The classification of the functions of government by purpose applies to all types of general government expenses, such as government final consumption expenditure, gross fixed capital formation, subsidies, property rents (i.e. expenses), capital transfers and other transfers for use in government financial accounts and in the national accounts. This classification is based on the international classification COFOG - Classification of the Functions of Government, published by the UN.

Classification of the purpose of non-profit institutions serving households (NPISH)

This is a minor purpose classification which applies to expenses of NPISHs. It is based on the international classification COPNI - Classification of the Purposes of the Non-Profit Institutions Serving Households, published by the UN.

Administrative information

Name and topic

Name: National accounts
Topic: National accounts and business cycles

Next release

Responsible division

Division for National Accounts

Regional level

National level.

Frequency and timeliness

The monthly national accounts (MNA) are published about 40 days after the end of the given month.

The quarterly national accounts (QNA) are published about 40 days after the end of the given quarter. Quarterly figures are calculated as the sum of three months (from monthly national accounts).

The first estimates of the preliminary year is published about 40 days after the end of the year.

 

International reporting

Published figures are reported to Eurostat, the International Monetary Fund (IMF) and the Organisation for Economic Co-operation and Development (OECD).

Microdata

Not relevant

Background

Background and purpose

The national accounts (NA) statistics are designed to provide a consistent and comprehensive survey of the overall national economy. The national accounts give both a summarised description of the economy as a whole and a detailed description of transactions between different parts of the Norwegian economy, and between Norway and the rest of the world. The national accounts also provide information on capital stocks and employment.

The first Norwegian national accounts based on modern principles were published by Statistics Norway in 1952. Annual series national accounts were calculated back to 1865 during the 1950th.

Final annual national accounts figures are based on all available final economic statistics and therefore take time to produce. The purpose of the quarterly national accounts is to provide updated information about short-term developments in the Norwegian economy based on an overall, consistent accounting system. Statistics Norway has produced and released quarterly national accounts (QNA) on a regular basis from 1953 but were not published at fixed intervals from the 1970s to the beginning of the 1980s. A new model for a QNA system was developed at the beginning of the 1980s and has been used since 1985, with some modifications.

National accounts are used as a tool to compare the economic situation in different countries, and therefore it is important that the national accounts in various countries are based on a common template. Staff involved in elaborating national accounts in Statistics Norway participated actively in developing international recommendations and concepts regarding national accounts. The first international standard for national accounts, 1953 System of National Accounts (1953 SNA), was published by UN in 1953.

 From time to time adaptations or changes are made to the common international recommendations for national accounts. This requires corresponding changes in the construction of the Norwegian national accounts. At different time intervals, new source statistics are produced and indicate that parts of the national accounts figures need to be revised. Since one objective of the national accounts is to provide a picture of the development over time which is as correct as possible, it is not possible to introduce such changes from one year to another. With different time intervals, it will therefore be necessary to carry out major revisions of the national accounts figures, so-called main revisions, in order to introduce adaptations due to new international recommendations or introduce new levels based on new statistical sources. As part of these main revisions the time series are also revised so that the revised national accounts can give a consistent picture of the economic development over time.

In recent decades, Statistics Norway has carried out main revisions published in 1995, 2002, 2006, 2011 and 2014. The main purpose of main revision published in November 2014, was to incorporate updated international recommendations in 2008 SNA and ESA 2010. Changes due to this main revision are described, among else, in the article Main revision 2014. Planned changes in the national accounts statistics. See About the statistics for the annual national accounts for more information about main revisions. The publication History of national accounts in Norway. From free research to statistics regulated by law also provides more information about the history of national accounts in Norway, including main revisions. In the future main revisions of the national accounts normally will be carried out every five years.

Since the QNA are completely harmonised with the annual national accounts, it is also necessary to revise the QNA figures once the annual national accounts figures have been revised.

Users and applications

The quarterly figures are mostly used for observation and analysis of the current economic cycle. The QNA figures also serve as a basis for making forecasts of the future economic development, the government’s work with the national budget and other economic planning. In addition, the QNA contribute with material for research and development. Annual and quarterly national accounts are a useful tool for analyses of the economic development and structures in Norway. The national accounts are also used to compare the economy in different countries.

The annual and quarterly national accounts therefore have a wide group of users, from school pupils and students to public and private institutions that actively use the statistics in their analyses and investigation of economic structure and development. Active users include the Research Department in Statistics Norway, the Ministry of Finance, Norges Bank, international organisations such as the IMF, the OECD, the World Bank, the UN and Eurostat, resident and non-resident financial sector analysts, and the media.

Equal treatment of users

No external users have access to the statistics and analyses before they are published and accessible simultaneously for all users on ssb.no at 08.00 am. Prior to this, a minimum of three months' advance notice is given in the Statistics Release Calendar. This is one of Statistics Norway’s key principles for ensuring that all users are treated equally.

Coherence with other statistics

The monthly figures are the basis for quarterly figures, quarterly figures are calculated as the sum of three months. Quarterly figures will be updated when publishing the third month in the quarter. This means that there may be deviations between the monthly and quarterly figures in the two months before the new quarter is calculated. The deviations will mainly apply to seasonally adjusted figures. In addition, the monthly publication includes a table showing rolling numbers for three and three months. The three-month growth is calculated by comparing a three-month period with the previous three-month period. For example, the volume change in the rolling table for July is given by comparing the period May-July with February-April. Figures for March, June, September and December will correspond to growth for a quarter.


All historical figures are consistent with both preliminary and final annual national accounts figures in fixed and current prices

The Norwegian Balance of Payments (BOP) is an integrated part of the Norwegian system of national accounts, and the BOP figures are fully consistent with other preliminary and final quarterly and annual national accounts figures. Furthermore, quarterly and annual national accounts figures are fully consistent and compatible with the institutional sector accounts. The regional national accounts, and various satellite accounts (environment, tourism, health,non-profit institutions) are consistent with the above mentioned national accounts statistics. Previous published figures from the regional accounts and various satellite accounts are, however, not revised as a part of main revision of the national accounts, so figures for previous years may not necessarily be compatible with updated NA time series.

As mentioned in the chapter "Production: Data sources and sampling", the national accounts are based on various statistical sources. The source statistics may not use the same definitions or groupings as used in the national accounts. As a result, figures in the source statistics may be adapted or corrected before being used in the national accounts. Published figures in the source statistics of certain industries may therefore not correspond to published figures in the national accounts.

 

Legal authority

Not relevant

EEA reference

  • Regulation (EU) No 549/2013 (ESA 2010).
  • The European Parliament and of the council of 21 May 2013 on the European system of national and regional accounts in the European Union (text with EEA relevance).

Production

Population

The coverage of the national accounts is defined by international guidelines in the 2008 System of National Accounts (2008 SNA), published by the UN, the OECD, the IMF, the World Bank, and the Commission of the European Communities, and the European System of National and Regional Accounts (ESA 2010).

The total national economy, and the distinction between the national economy and foreign countries, is defined in terms of resident units. A unit is defined as a resident unit of the country when it has a centre of economic interest in the economic territory of the country - i.e. when it is involved in economic activities on this territory for an extended period of time (one year or more).

Two basic types of information are recorded in the national accounts: flows and stocks. Flows refer to actions and effects of events that take place within a given period of time, for example the output of an industry in one year. Stocks refer to positions at a certain point of time, for example the value of capital stock or the number of employed persons.

The national accounts consist of two main sets of tables; supply and use tables (SUT), also described as the real accounts, and the institutional sector accounts. The real accounts are based on local kind-of-activity units (KAUs), while the institutional sector accounts are based on institutional units. Institutional units are economic entities that are capable of owning goods and assets, of incurring liabilities and of engaging in economic activities and transactions with other units in their own right. An institutional unit contains one or more local kind-of-activity units (local KAUs). The local KAUs are classified by type of activity. An activity is characterised by an input of products, a production process and an output of products. All local KAUs engaged in the same or similar kind-of-activity constitute an industry.

The SUT at current and constant prices gives a structured overview of the supply (output and import) and use (final consumption, gross fixed capital formation, changes in inventories, export and intermediate consumption) of products (goods and services) in the economy. For each industry the value added is calculated as the difference between output and intermediate consumption. The value added in an industry can also be decomposed into compensation of employees, consumption of fixed capital, other taxes on production (net of subsidies) and operating surplus. The real accounts also give information on fixed assets, as well as wages, hours worked, full-time equivalent persons and employed persons by industry. Monthly national accounts does not include figures for employment etc..

Furthermore, the real accounts provide the basis for the calculation of the Gross Domestic Product (GDP) and other central macroeconomic measures. The annual growth in volume and price are calculated for most variables.

The non-financial sector accounts are based on institutional units. Institutional units are capable of providing a full set of accounts. The non-financial sector accounts describe all economic transactions in the various sectors. The accounts also provide information on the stocks financial and non-financial capital. Financial sector accounts are also based on institutional units. The institutional units are grouped in institutional sectors on the basis of their principal economic functions, behavior and objectives. The non-financial sector accounts are consistent with the real accounts. The further description of the national accounts covers the part of the national accounts that is based on the annual SUT (the real accounts).

The coverage of the preliminary annual and quarterly real accounts is the same as the final annual SUT

The accounting structure in the system that produces monthly, quarterly and preliminary annual figures (MNA) is, however, more aggregated than in the system that produces the final annual SUT. While the SUT in the annual accounts consists of about 130 industry groups and 700 product groups, the SUT in the MNA consists of about 80 industry groups and 120 product groups. The MNA and QNA system produces tables with seasonal adjusted figures for industries' value added, household consumption for aggregated consumption groups and for central macroeconomic measures. However, only tables for final expenditure and gross domestic product are published on a monthly basis, while the QNA contain more details.

Data sources and sampling

The calculations of the annual real accounts are based on statistics from several different sources, such as the structural business statistics for manufacturing and other industries, accounting statistics for general government and enterprises, statistics for wages and earnings, external trade statistics, household consumer surveys and employment statistics. Some parts of the national accounts are compiled more or less directly from the source statistics, while other parts are based on calculations and estimates.

Monthly information is used for compiling monthly national accounts, such as the production index of industrial production, the index for retail sales, consumer price index, building statistics, producer price indices and much more. For some service industries where we lack explicit production indicators, monthly information about jobs, working days and absence is obtained from the A-ordning. For investments where we only have quarterly information, such as oil investments, quarterly figures are conventionally distributed by month. In the months before we get the so-called oil census, the development is used in the planned investment figures reported together with those performed for a quarter. In connection with the work on the QNA, quarterly information is incorporated and an update of the previous months is made. Quarterly national accounts will appear as the sum of the three months in the quarter.

The source statistics used to calculate national accounts are with a few exceptions produced by Statistics Norway.

Having the reporting responsibility to Eurostat, the Division for National Accounts occasionally documents the calculations for the final annual national accounts, see Norwegian National Accounts - GNI Inventory for ESA95.

In addition, there are a number of reports giving more detailed documentation of calculation of figures for various specific industry groups or other parts of the national accounts (mostly in Norwegian only).

The documentation report for the Quarterly national accounts gives an overview of central sources and methods used for quarterly accounts compilation. This will be updated in the autumn of 2018 to include monthly national accounts.

Collection of data, editing and estimations

Compilation of the final annual real accounts

The annual national accounts are mainly based on statistics collected by other divisions in Statistics Norway. To some extent data produced by external suppliers are also used.

The process of compiling the final annual national accounts starts with the calculation of independent supply and use estimates for all goods and services at current prices. To some extent, source data are extracted directly from the databases and converted into national accounts codes and format. Other parts of the economy are based on more complex calculations, by means of different statistical sources and/or assessments.

The source data are critically evaluated and compared with alternative sources (for some parts of the economy). In some areas, the statistics have to be adjusted in order to satisfy the requirements of the national accounts. In areas where the statistics are incomplete, evaluations are essential. In the process of estimating national accounts data, estimated national accounts figures are critically evaluated and controlled in several steps.

Finally, supply and use for each of these goods and services are balanced using supplementary information and quality assessments of the various statistical sources. This results in integrated supply and use tables at current prices.

The figure below gives an outline of the calculation system for final annual national accounts figures. First, detailed figures are calculated and balanced in current prices. Then the system calculates figures in constant prices, based on the detailed current price figures and corresponding price indices. The deflation (current values being divided by price indices) takes place at the most detailed product level: A price index is allocated to each detailed product. The individual products are as price homogeneous as possible. Constant price figures in the annual national accounts are calculated using the price level of the previous year, which means that the base year is changed every
year.

The deflation approach has in fact two dimensions, (i) differentiated by main categories of supply and use (deflating output, imports, exports and implicitly for domestic use), and (ii) differentiated through valuation (deflating current values at basic prices by price indices and implicitly determining the other value components, including adjustments against values at purchaser prices). The method used to calculate constant figures is called double deflation, i.e. a separate deflation of output and intermediate consumption is carried out in order to arrive at value added at constant prices as a balancing item, based on a detailed input-output framework (supply and use tables).

Figure 1. The calculation system for final annual NA figures  (Click)

For a more detailed  documentation, see Norwegian National Accounts - GNI Inventory for ESA95.

Compilation of the MNA and QNA

The majority of the short-term statistics produced by Statistics Norway are transferred to the MNA system by use of a direct link to the relevant databases. The information in the data sources about growth is used more or less directly in the MNA system. Some other input data series in the MNA system, however, are based more or less on calculations and estimations, using various types of information from Statistics Norway and other sources. Quarterly figures are calculated as the sum of three months

The national accounts data for a specific month, quarter or year are revised in accordance with an ordinary publication and revision cycle. The quarterly figures within a specific year t become final 21 months later after the end of the year t. In addition, periodical main revisions generate revised figures.

In the process of calculating MNA or QNA figures for a specific month or quarter, the short-term statistics source data are critically evaluated and compared with alternative sources (for some parts of the economy). In some cases, the information in the source statistics must be adjusted in order to satisfy the requirements of the quarterly national accounts. In the process to estimate MNA data estimated MNA figures are critically evaluated and controlled in many steps.

Monthly process

The figure below gives an overview of the Norwegian MNA and QNA estimation process. The figure shows that the MNA system is based on two main pillars: a) The SUT for the (final) annual national accounts and b) short-term statistics.

Figure 2. The computing system in the Norwegian MNA/QNA

knr1-en

The main principle in the MNA system is that the national accounts figures for the current quarter are computed based on the development of short-term indicators and the current-price figures from the base year. The base year (t-2) is the latest calculated final version of the annual national accounts. The method is the same for most common variables: The value in the base year is given the same growth rate (percentage change) as in the appropriate indicator, or a grouping of different relevant indicators.

A simple projection method, based on the development in previous periods, is used if an indicator does not cover the whole period from the base year to the current quarter.

The indicator compilations are made in the indicator process (box 2 in the figure).

However, the indicator process alone does not give a complete harmonised account at current and constant prices. To calculate values for variables that are not calculated in the indicator compilations, and to harmonise the accounts, we use an input-output model (box 3 in the figure).

The input-output model includes a commodity-flow balance, a price input-output system and a set of equations for summaries and definitions. It now comprises over 12 000 equations in total. The input-output coefficients are calculated from the SUT in the base year. The variables calculated in the indicator compilations are transferred to the input-output model as exogenous variables. To calculate balanced accounts at current prices we need price indices on all supply and use categories. These are computed in the model by weighting together product price indices with the input-output coefficients as weights. Each product gets three different price indices, one for resident output delivered to the home market (to resident users), a second for import and a third for export.

The price index for an industry’s total output is then calculated as a weighted average of the price indices for the home and export market using the input-output coefficients as weights. The price indices of intermediate consumption, final consumption expenditure and gross fixed capital formation are calculated in a similar way, using the import and home market price indices and the input-output coefficients.

The model also calculates variables which are not covered by short-term statistics or other information and therefore not calculated in the indicator process. These calculations are based on simple assumptions. For instance, intermediate consumption for most industries at constant prices (the total except FISIM) is assumed to be a fixed proportion of total output for the relevant industry. The distribution of intermediate consumption (except FISIM) on different products at constant prices is also assumed to be the same as in the base year. The industries’ use of FISIM as intermediate consumption is supposed to equal the growth in total output of FISIM services. Output in the retail and wholesale trade activities in constant prices is assumed to follow the development of the use of the various goods in constant prices, such as household consumption, intermediate consumption and gross fixed capital formation of the various specific goods (that means supposed fixed margins).

Changes in stock of separate products are (for most products) calculated as the difference between the total supply and use of the product. As in the annual NA, the changes in stock may be adjusted if that seems reasonable after an evaluation of the figures.

The results are stored in the time series database (box 4 in the figure), which, among other things, provides the basis for different sets of tables (box 6). At the moment there are two different sets of tables (with seasonal unadjusted figures), sets for internal checks and analyses of data and more aggregated sets of data for publishing.

Process 1-4 describes how the quarterly seasonally unadjusted figures are estimated. The unadjusted figures are seasonally adjusted (box 5) using a seasonal adjustment program.

The method adopted to compile the MNA is highly mechanical. This applies to the update of variables in the national accounts based on short-term statistics as well as the balancing of commodities, the computation of indirect taxes and factor incomes and the overall balancing of the GDP and main aggregates. Technically, the data systems are programmed in FAME and TROLL (the latter is used for the input-output model only).

Checks and/or the evaluation of data are, however, performed in several steps. The MNA system offers a unique opportunity to compare different types of input data. The evaluation of the different sources is done in close contact with the relevant statistics divisions in Statistics Norway. A more thorough evaluation is being done when processing and publishing quarterly figures, while the monthly process is more automated and less profound. Therefore, only final expenditure and gross domestic product are published on a monthly basis while the quarterly accounts offer more details.

Quarterly figures are calculated as the total of three months at quarterly releases. Quarterly figures will be updated only when publishing the third month in the quarter. This means that there may be a mismatch between the monthly and quarterly figures in the interim months. This applies mainly to seasonally adjusted numbers. That is, when you get a new observation (new month), it will normally affect the seasonally adjusted figures back in time. We do not update the QNA numbers that have also been sent to international organizations before the next quarters release. At the same time, we show figures for three-month growth. This is calculated by comparing a three-month period with the previous three-month period. For example, the volume change in July is given by comparing the period May-July with February-April. Figures for March, June, September and December will correspond to growth for a quarter. This means that users may get a continuous update of the quarterly figures by looking at the monthly publication.

Annual process and alignment

The MNA system is updated with a new base year every year (i.e. the latest final version of the annual accounts). The database for the annual accounts (box 1a), as well as the base data and coefficients in the harmonisation model (box 3) are updated. At the same time, it is possible to implement new indicators, carry out changes in the input series and in the model, etc. Such changes are not carried out in an ordinary monthly or quarterly process.

The recalculation of the monthly accounts is carried out by distributing the annual figures between the months using the original monthly figures as keys. The recalculated monthly accounts will then add up to the annual accounts at constant and current prices.

The harmonisation is based on the principle that the differences between the monthly changes to the original and harmonised series shall be as small as possible. The monthly accounts should add up to the figures in the annual accounts.

When the base year is updated the MNA for that year is aligned automatically.

Reference year

All figures are published at current prices and (for most sizes) constant prices (i.e. the accounts also specify volume and price changes). Constant-price estimates in the national accounts are calculated based on the previous year's prices; i.e. the base year is changed every year. Subsequently, data on volume changes are constructed in terms of growth rates and corresponding implicit data on changes in prices. In parallel, time series of volume figures are constructed by using prices from a reference year. The constant-price estimates are consistent with the data on changes in volume in the series of growth rates. Since the chaining is carried out separately for all items, the table components do not, however, necessarily add up to the totals of the same table.

The publication Quarterly national accounts gives more information about sources, methods and the processes used to calculate quaterly NA figures. This will be updated in the autumn of 2018 to include monthly national accounts.

 

Seasonal adjustment

The methods and routines used to produce seasonally adjusted figures are described in the chapter About seasonal adjustment.

Confidentiality

§ 2-6 of the Statistics Act states that data under no circumstances shall be published in such a way that they may be traced back to the supplier. This means that the general rule is not to publish data if there are fewer than three enterprises in an industry. In practice, this means that for some detailed industry categories, figures must be aggregated up to a more aggregated industry group before they can be published.

Comparability over time and space

Consistent monthly time series will exist back to 2016. Consistent quarterly time series will exist back to 1978 and annual time series back to 1970. Annual NA figures for the years 1865-1970 are based on the previous standards used for the national accounts and are not compatible with the up to date figures after the latest main revision of the NA.

Quarterly figures are calculated as the sum of three months. Quarterly figures will be updated only when publishing the third month in the quarter. This means that there may be mismatch between the monthly and quarterly figures in the interim months, see the description of the monthly process above.

Monthly figures, and thus quarterly figures, are aligned with the final annual national accounts figures, both in fixed and current prices. The other parts of the national accounts, such as income and capital accounts, and foreign accounts are also consistent and consistent with MNA.

Accuracy and reliability

Sources of error and uncertainty

The national accounts are based on various statistical sources. The sources are either survey data from establishments, enterprises or households, or data from registers. National accounts statistics reflect the inaccuracy in the statistical sources and the methods of compilation. Weaknesses and inaccuracy in the statistical sources are normally described in the documentation of the relevant sources.

Since the national accounts are an integrated system with balancing methods and consistency checks, the national accounts may reduce some of the inaccuracies in the statistical sources. On the other hand, national accounts require the compilation of statistics in areas where the sources are unsatisfactory, and the inaccuracy in such areas may therefore be significant. Some of the figures in the national accounts are estimated as residuals, and the uncertainty may be substantial in these areas. Examples are the compilation of changes in inventories and operating surplus by activity.

The EU Commission and Eurostat have completed a quality evaluation of the national accounts in all EEA countries. The conclusion was that "The Norwegian national accounts are of a high quality, soundly based on reliable and exhaustive sources, integrated in a system with a detailed product breakdown". (Report on the sources and methods used in compiling GNP in Norway, Eurostat/B1/CPNB/237/EN, 9 December 1997, Luxembourg.)

The International Monetary Fund (IMF) completed an evaluation of central parts of Norwegian macroeconomic statistics in autumn 2002, including the Norwegian national accounts. In the report IMF (2003), the Norwegian macroeconomic statistics, including the national accounts, got positive reviews: "In summary, Norway's macroeconomic statistics are of generally high quality." About the national accounts, the IMF also expressed that: "The source data for both the annual and the quarterly national accounts are generally sound and timely, and sufficiently portray reality."

The production of several of the sources that are used in the national accounts takes a considerable amount of time. Consequently, preliminary figures are more inaccurate than final figures.

In 2003, Statistics Norway carried out a project to evaluate the quality of the Norwegian QNA. The task of the project was to describe and evaluate the different processes in the system, and set up a plan for further work to improve quality. A project report was released in April 2004 (in Norwegian only). The report lists a variety of measures to increase quality, such as changes in the organisation of the QNA process, technical changes in the data system, an increase and improvement of the documentation related to the QNA system etc.

Another way of measuring the general quality of the QNA figures is to compare the preliminary annual figures from the first version of the annual accounts (by adding up the quarters in the QNA) with the final version. This was done in 2004. The article (in Norwegian only) looks at the growth rates of the main aggregates: GDP, GDP for mainland Norway, household consumption, government consumption, gross fixed capital formation, exports, imports and compensation of employees. For most variables, the study covers the years 1972-2002, while for some variables it covers the years 1993-2002. The study concludes that the preliminary figures generally had underestimated the growth rate in relation to the final figures, but that the overall picture did not differ too much.

 

Revision

The national accounts data for a specific month, quarter or year are revised in accordance with an ordinary publication and revision cycle. The monthly and quarterly figures within a specific year t have the status final 21 months after the end of the year. See Administrative information, Frequency and timeliness. In addition, periodical main revisions give revised figures. See Background and purpose. The table below shows the publication cycle for yearly and quarterly national accounts figures. In addition to what is stated in the table, monthly data will be published about 40 days after the end of the month. In May, year t (which coincides with the QNR for the first quarter), all months, also in year t-1, can be revised. After May year t, only the monthly figures for the current year are subject to revision.

Publication cycle for quarterly and yearly national accounts figures

Release date in:

 1st quarter year t

2nd quarter year t

3rd quarter year t

4th quarter year t

May, year t

First preliminary version

Revised 3 for year t-1

Revised 2 for year t-1

Revised 1 for year t-1

August, year t

Revised 1

Revised 5 for year t-1

Final for year t-2

First preliminary version

Revised 4 for year t-1

Final for year t-2

Revised 3 for year t-1

Final for year t-2

Revised 2 for year t-1

Final for year t-2

November, year t

Revised 2

Revised 1

First preliminary version

Revised 3 for year t-1

February, year t

Revised 3 for year t-1

Revised 2 for year t-1

Revised 1

First preliminary version for year t-1

About seasonal adjustment

General information on seasonal adjustment

What is seasonal adjustment?

Monthly and quarterly time series are often characterised by considerable seasonal variations, which might complicate inter-period comparability. Such time series are therefore subjected to a process of seasonal adjustment in order to remove the effects of seasonal fluctuations. Once data have been adjusted for seasonal effects by X-12-ARIMA or some other seasonal adjustment tool, a clearer picture of the time series emerge.

For more information on seasonal adjustment, please refer to Statistics Norway’s: metadata on methods: seasonal adjustment .

Why seasonally adjust these statistics?

Because of climatic conditions, public holidays and holidays in July and December, the intensity of the production varies throughout the year. The same applies to household consumption and other parts of the economy.

This makes a direct comparison of two consecutive months or quarters difficult. In order to adjust for these conditions, the quarterly national accounts are seasonally adjusted which makes it possible to conduct an analysis of the underlying change in economic activity between periods.

It is important to mention some factors of the seasonally adjustment of the MNA which has to be given specific attention compared to other short time economic indicators:

·        The series for the main aggregates in the MNA is a result of aggregation of many components. Statistics Norway has chosen that consistency between the components and the main aggregates also applies to the seasonally adjusted series to make it easy to identify which series contribute the most to the results.

·        Data may be exposed to some revisions each month as well as major revisions when the the preliminary national accounts are reconciled with final national accounts

Background information

·        To seasonally adjust the GDP (and all other aggregates) we use an indirect method. This is done in order to be able to explain the contributions to GDP-growth, and consensus is that this is the preferred method for this kind of data. Please see chapter below for more details on the direct vs. indirect approach to seasonal adjustment.

·          This method has given us some challenges related to the seasonally adjusted historical series. The reason is that series older than the base year are not additive. When a new base year is established, and the time series are updated, we use identical seasonal adjustment factors as before. This means that changes in seasonally adjusted data are only due to changes in the unadjusted data.

·          We use information from the entire period of the time series to estimate seasonal adjustment factors, but we use this information only from the year before the base year to the present.

The method chosen is in accordance with the ESS-Guidelines on seasonal adjustment .

Seasonally adjusted series

Over a thousand series are seasonally adjusted every month. The series are adjusted at a disaggregated level and then summed up to the main aggregates.

The series for gross value added at industry level are adjusted directly, as opposed to being calculated as the difference between production and intermediate consumption.

For final consumption expenditure of households, the series are seasonally adjusted by applying the seasonal factors that are estimated for the index of household consumption of goods (see the documentation for seasonal adjustment of the index of household consumption of goods).

 

Pre-treatment

Pre-treatment routines/schemes

Pre-treatment is an adjustment for variations caused by calendar effects and outliers.

  • We run a pre-treatment of some series/main series.

Calendar adjustment

Calendar adjustment involves adjusting for the effects of working days/trading days and for moving holidays. Working days/trading days adjustments are made for both the number of working days/trading days and for the varying composition of days from one month to another.

  • It is performed calendar adjustments on all series showing significant and plausible calendar effects within a statistically robust approach, such as regression or RegARIMA (a regression model with an ARIMA structure for the residuals).

Methods for trading/working day adjustment

  • RegARIMA correction – in this case, the effect of trading days is estimated in a RegArima framework. The effect of trading days can be estimated by using a correction for the length of the month or leap year, regressing the series on the number of working days, etc. In this case, the residuals will have an ARIMA structure.

Correction for moving holidays

  • We run an automati correction with X-12-ARIMA. The utomatic correction of raw data will be based on Norwegian holidays.

National and EU/euro area calendars

  • Use of the Norwegian calendar with X-12-ARIMA.

Treatment of outliers

Outliers, or extreme values, are abnormal values of the series

  • Outliers are detected automatically by the seasonal adjustment tool. The outliers are removed before seasonal adjustment is carried out, and then reintroduced into the seasonally adjusted data.

Model selection

Pre-treatment requires choosing an ARIMA model, as well as deciding whether the data should be log-transformed or not.

Decomposition scheme

The decomposition scheme specifies how the various components – basically trend-cycle, seasonal and irregular – combine to form the original series. The most frequently used decomposition schemes are the multiplicative and additive.

  • Manual selection of decomposition scheme after graphical inspection of the properties to the specific series.

Comments : Additive decomposition is used for series with (potential) negative values or values equal zero, otherwise multiplicative decomposition is used.

Seasonal adjustment

Choice of seasonal adjustment approach

  • X-12-ARIMA

Consistency between raw and seasonally adjusted data

In some series, consistency between raw and seasonally adjusted series is imposed.

  • No constraints are applied.

 

Consistency between aggregate/definition of seasonally adjusted data

In some series, consistency between seasonally adjusted aggregates and its components is imposed. For some series there is also a special relationship between the different series, e.g. GDP which equals production minus intermediate consumption.

  • Definitions and relationships that hold for unadjusted figures also apply for seasonally adjusted figures.

Comments : The supply side equals the use side also for seasonally adjusted figures. This implies that changes in stocks/statistical discrepancies are treated as a residual in the seasonally adjusted figures (balancing item). The series for gross value added are adjusted directly (see chapter 1.3) and are not required to match the difference between seasonally adjusted series for production and intermediate consumption (thus, vertical – not horizontal – consistency is imposed).

Direct versus indirect approach

Direct seasonal adjustment is performed if all time series, including aggregates, are seasonally adjusted on an individual basis. Indirect seasonal adjustment is performed if the seasonally adjusted estimate for a time series is derived by combining the estimates for two or more directly adjusted series.

  • Mixed indirect approach is applied

Comments : MNA uses aggregation routines outside X-12-ARIMA.

Horizon for estimating the model and the correction factors

When performing seasonal adjustment of a time series, it is possible to choose the period to be used in estimating the model and the correction factors. Correction factors are the factors used in the pre-treatment and seasonal adjustment of the series.

  • The whole time series is used to estimate the model and the correction factors

 

Audit procedures

General revision policy

Seasonally adjusted data may change due to a revision of the unadjusted (raw) data or the addition of new data. Such changes are called revisions, and there are several ways to deal with the problem of revisions when publishing the seasonally adjusted statistics.

  • Seasonally adjusted numbers are revised in accordance with a well-defined and publicly available revision policy and release calendar.

 

Concurrent versus current adjustment

  • The model, filters, outliers and regression parameters are re-identified and re-estimated as new or revised data become available.

Horizon for published revisions

  • The individual series will be revised when seasonal factors are re-estimated. Concerning the main aggregates the period of revisions is limited from the base year to the present.

Comments : This applies as long as the unadjusted figures before the base year remains unchanged. When a new base year is established, and the time series are updated, we use identical seasonal adjustment factors as before. This means that changes in seasonally adjusted data are only due to changes in the unadjusted data.

Quality of seasonal adjustment

Evaluation of seasonally adjustment data

  • Continuous/periodical evaluation using standard measures proposed by different seasonal adjustment tools.

 

Special cases

All series are sufficiently long to perform a seasonal adjustment.

 

Posting procedures

Data availability

  • Both unadjusted (raw), seasonally adjusted and sum rolling three months data are available.

Press releases

  • In addition to raw data, at least one of the following series is released: pre-treated, seasonally adjusted, seasonally plus working day adjusted trend-cycle series.
  • Both levels and growth rates are presented.
  • Empirical values are presented to evaluate revisions of data in earlier press releases.

References