Table
| 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011* | 2012* | Forecasts | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | |||||||||||
| 1Consumption in households and non-profit organizations + general government consumption + gross fixed capital formation in mainland Norway. | ||||||||||||||
| 2Change in stockbuilding. Per cent of GDP. | ||||||||||||||
| 3According to Statistics Norway's labour force survey(LFS). Break in data series in 2006. | ||||||||||||||
| 4CPI adjusted for tax changes and excluding energy products. | ||||||||||||||
| 5Break in data series in 2004. | ||||||||||||||
| 6Yearly average. Lending rate, banks until 2006. | ||||||||||||||
| 7Increasing index implies depreciation. | ||||||||||||||
| 8Average spot price Brent Blend. | ||||||||||||||
| Demand and output | ||||||||||||||
| Consumption in households etc. | 3.2 | 5.4 | 4.4 | 5.0 | 5.4 | 1.8 | 0.0 | 3.8 | 2.5 | 3.0 | 3.5 | 4.3 | 4.4 | 4.0 |
| General government consumption | 1.3 | 1.2 | 1.4 | 1.9 | 2.7 | 2.7 | 4.3 | 1.3 | 1.8 | 1.8 | 2.5 | 2.4 | 2.4 | 2.4 |
| Gross fixed investment | 0.8 | 11.1 | 13.5 | 9.8 | 11.4 | 0.2 | -7.5 | -8.0 | 7.6 | 8.0 | 5.4 | 4.0 | 4.6 | 4.2 |
| Extraction and transport via pipelines | 15.9 | 10.4 | 19.2 | 4.0 | 6.1 | 5.2 | 3.4 | -9.5 | 14.1 | 14.5 | 8.9 | 4.2 | 3.3 | 4.2 |
| mainland Norway | -2.9 | 10.6 | 12.2 | 10.5 | 13.3 | -1.3 | -13.2 | -4.5 | 8.5 | 3.7 | 3.9 | 3.9 | 5.0 | 4.3 |
| Industries | -11.2 | 10.6 | 18.6 | 15.2 | 21.9 | 0.8 | -23.1 | -5.1 | 3.5 | 3.2 | 0.8 | 4.2 | 4.1 | 5.0 |
| Housing | 1.8 | 16.3 | 9.7 | 4.0 | 2.7 | -9.0 | -8.2 | -1.6 | 21.9 | 7.4 | 6.9 | 2.2 | 4.8 | 2.5 |
| General government | 12.5 | 3.9 | 2.0 | 9.7 | 8.0 | 4.5 | 7.4 | -6.8 | 2.2 | -0.6 | 5.7 | 6.1 | 6.9 | 5.7 |
| Demand from Mainland Norway1 | 1.6 | 5.1 | 4.9 | 5.2 | 6.3 | 1.4 | -1.6 | 1.5 | 3.3 | 2.8 | 3.3 | 3.7 | 4.0 | 3.6 |
| Stockbuilding2 | -1.1 | 2.3 | -0.1 | 1.1 | -0.2 | -0.1 | -2.8 | 3.5 | 0.1 | -0.2 | 0.0 | 0.0 | 0.0 | 0.0 |
| Exports | -0.1 | 1.0 | 0.5 | -0.8 | 1.4 | 0.1 | -4.2 | 0.4 | -1.8 | 1.8 | -0.3 | 2.1 | 1.7 | 2.4 |
| Crude oil and natural gas | -0.8 | -0.7 | -5.0 | -6.6 | -2.4 | -1.3 | -2.0 | -6.9 | -6.2 | 0.9 | -1.1 | 1.9 | 0.0 | 0.4 |
| Traditional goods | 3.7 | 3.6 | 5.3 | 6.1 | 9.2 | 3.5 | -8.0 | 3.4 | 0.0 | 2.6 | 0.0 | 1.5 | 2.2 | 3.7 |
| Imports | 1.2 | 9.7 | 7.9 | 9.1 | 10.0 | 3.9 | -12.5 | 9.0 | 3.8 | 2.4 | 4.5 | 4.5 | 5.0 | 4.5 |
| Traditional goods | 5.7 | 12.8 | 8.4 | 11.6 | 7.2 | 1.2 | -12.9 | 9.1 | 3.6 | 2.7 | 2.9 | 4.6 | 4.5 | 4.3 |
| Gross domestic product | 1.0 | 4.0 | 2.6 | 2.3 | 2.7 | 0.1 | -1.6 | 0.5 | 1.2 | 3.1 | 1.7 | 2.7 | 2.7 | 2.8 |
| Mainland Norway | 1.3 | 4.5 | 4.4 | 4.8 | 5.3 | 1.5 | -1.6 | 1.7 | 2.5 | 3.4 | 2.4 | 3.0 | 3.3 | 3.2 |
| Manufacturing | 2.9 | 5.1 | 3.9 | 2.6 | 3.5 | 2.9 | -7.4 | 2.4 | 2.1 | 2.4 | 2.2 | 2.9 | 3.8 | 3.7 |
| Labour market | ||||||||||||||
| Total hours worked, Mainland Norway | -2.1 | 1.9 | 1.5 | 3.3 | 4.3 | 3.5 | -2.3 | 0.0 | 1.7 | 1.9 | 0.6 | 1.5 | 1.9 | 1.9 |
| Employed persons | -1.2 | 0.5 | 1.3 | 3.5 | 4.1 | 3.3 | -0.4 | -0.5 | 1.3 | 2.2 | 1.2 | 1.2 | 1.6 | 1.5 |
| Labor force3 | -0.1 | 0.3 | 0.8 | 1.9 | 2.5 | 3.4 | 0.0 | 0.5 | 1.1 | 1.8 | 1.3 | 1.5 | 1.6 | 1.5 |
| Participation rate (level)3 | 72.9 | 72.6 | 72.4 | 72.0 | 72.8 | 73.9 | 72.8 | 71.9 | 71.4 | 71.5 | 71.5 | 71.5 | 71.7 | 71.8 |
| Unemployment rate (level)3 | 4.5 | 4.5 | 4.6 | 3.4 | 2.5 | 2.6 | 3.2 | 3.6 | 3.3 | 3.2 | 3.6 | 3.5 | 3.5 | 3.4 |
| Prices and wages | ||||||||||||||
| Wages per standard man-year | 4.5 | 3.5 | 3.3 | 4.1 | 5.4 | 6.3 | 4.2 | 3.7 | 4.2 | 4.0 | 3.7 | 3.8 | 3.8 | 4.0 |
| Consumer price index (CPI) | 2.5 | 0.4 | 1.6 | 2.3 | 0.8 | 3.8 | 2.1 | 2.5 | 1.2 | 0.8 | 1.8 | 1.9 | 2.1 | 2.2 |
| CPI-ATE4 | 1.1 | 0.3 | 1.0 | 0.8 | 1.4 | 2.6 | 2.6 | 1.4 | 0.9 | 1.2 | 1.4 | 1.9 | 2.1 | 2.2 |
| Export prices, traditional goods | -1.0 | 8.4 | 4.0 | 11.3 | 2.4 | 2.8 | -6.0 | 4.5 | 5.7 | -4.5 | -0.2 | 2.1 | 2.5 | 2.3 |
| Import prices, traditional goods | 0.0 | 2.6 | 0.3 | 4.0 | 3.7 | 3.9 | -1.5 | 0.1 | 4.2 | 0.7 | 0.2 | 1.6 | 1.9 | 1.9 |
| Housing prices5 | 1.7 | 10.1 | 8.2 | 13.7 | 12.6 | -1.1 | 1.9 | 8.3 | 8.0 | 6.7 | 5.3 | 4.3 | 3.4 | 2.9 |
| Income, interest rates and excange rate | ||||||||||||||
| Household real income | 4.6 | 3.3 | 7.8 | -6.4 | 6.3 | 4.0 | 4.1 | 2.7 | 4.1 | 3.7 | 3.3 | 3.9 | 3.0 | 3.2 |
| Household saving ratio (level) | 9.0 | 7.0 | 9.8 | -0.5 | 0.9 | 3.8 | 7.1 | 5.8 | 7.3 | 8.5 | 8.5 | 8.3 | 7.0 | 6.3 |
| Money market rate (level) | 4.1 | 2.0 | 2.2 | 3.1 | 5.0 | 6.2 | 2.5 | 2.5 | 2.9 | 2.2 | 1.8 | 2.0 | 2.7 | 3.3 |
| Lending rate, credit loans(level)6 | 6.5 | 4.2 | 3.9 | 4.3 | 5.0 | 6.8 | 4.0 | 3.4 | 3.6 | 3.9 | 3.8 | 3.9 | 4.5 | 5.1 |
| Real after-tax lending rate, banks (level) | 2.2 | 2.5 | 1.3 | 0.7 | 2.9 | 1.1 | 0.7 | 0.1 | 1.3 | 2.1 | 0.9 | 1.0 | 1.2 | 1.6 |
| Importweighted krone exchange rate (44 countries)7 | 1.3 | 3.0 | -3.9 | 0.7 | -1.8 | 0.0 | 3.3 | -3.7 | -2.4 | -1.2 | -0.7 | 1.1 | 0.9 | 0.7 |
| NOK per euro (level) | 8.0 | 8.4 | 8.0 | 8.1 | 8.0 | 8.2 | 8.7 | 8.0 | 7.8 | 7.5 | 7.5 | 7.6 | 7.6 | 7.7 |
| Current account | ||||||||||||||
| Current balance (bill. NOK) | 195.2 | 220.6 | 322.8 | 357.7 | 287.4 | 408.3 | 279.3 | 303.2 | 351.4 | 414.0 | 319.7 | 274.5 | 254.5 | 250.4 |
| Current balance (per cent of GDP) | 12.3 | 12.6 | 16.5 | 16.4 | 12.5 | 16.0 | 11.7 | 11.9 | 12.8 | 14.2 | 10.7 | 8.9 | 7.8 | 7.3 |
| International indicators | ||||||||||||||
| Exports markets indicator | 2.6 | 7.7 | 7.0 | 9.6 | 5.6 | 1.2 | -10.4 | 10.9 | 5.3 | 1.4 | 1.1 | 3.3 | 4.6 | 6.1 |
| Consumer price index, euro-area | 2.1 | 2.1 | 2.2 | 2.2 | 2.2 | 3.3 | 0.3 | 1.7 | 2.7 | 2.5 | 1.2 | 1.4 | 1.7 | 1.9 |
| Money market rate, euro(level) | 2.3 | 2.1 | 2.2 | 3.1 | 4.3 | 4.6 | 1.2 | 0.8 | 1.4 | 0.5 | 0.1 | 0.5 | 1.1 | 1.7 |
| Crude oil price NOK (level)8 | 201 | 255 | 356 | 423 | 422 | 536 | 388 | 484 | 621 | 649 | 595 | 588 | 600 | 618 |