Table
| 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017* | 2018* | Forecasts | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2019 | 2020 | 2021 | 2022 | |||||||||||
| 1Consumption in households and non-profit organizations + general government consumption + gross fixed capital formation in mainland Norway. | ||||||||||||||
| 2Change in stockbuilding. Per cent of GDP. | ||||||||||||||
| 3CPI adjusted for tax changes and excluding energy products. | ||||||||||||||
| 4Yearly average. Credit lines, secured on dwellings. | ||||||||||||||
| 5Increasing index implies depreciation. | ||||||||||||||
| 6Current account not adjusted for saving in pension funds. | ||||||||||||||
| 7Average spot price Brent Blend. | ||||||||||||||
| Demand and output | ||||||||||||||
| Consumption in households etc. | 0.0 | 3.8 | 2.4 | 3.5 | 2.8 | 2.1 | 2.7 | 1.1 | 2.2 | 1.9 | 1.6 | 1.8 | 2.5 | 2.3 |
| General government consumption | 4.2 | 2.2 | 1.1 | 1.5 | 1.0 | 2.7 | 2.4 | 2.3 | 1.9 | 1.4 | 2.2 | 2.5 | 1.9 | 1.8 |
| Gross fixed investment | -7.0 | -6.4 | 7.5 | 7.5 | 6.3 | -0.3 | -4.0 | 3.9 | 2.6 | 2.8 | 6.3 | 1.4 | -1.6 | 0.7 |
| Extraction and transport via pipelines | 2.9 | -8.0 | 11.4 | 14.6 | 19.0 | -1.8 | -12.2 | -16.0 | -5.4 | 1.9 | 15.0 | 2.0 | -7.6 | 3.1 |
| mainland Norway | -10.6 | -6.4 | 5.0 | 7.4 | 2.9 | 0.4 | -0.2 | 9.0 | 6.8 | 3.0 | 4.1 | 0.7 | -0.1 | 0.2 |
| Industries | -18.7 | -9.2 | 1.1 | 10.5 | -3.2 | -0.7 | -2.8 | 12.6 | 9.2 | 6.8 | 6.2 | 1.0 | -0.8 | -0.4 |
| Housing | -8.1 | -1.6 | 17.0 | 10.9 | 5.3 | -1.4 | 3.2 | 6.6 | 7.3 | -6.2 | 1.1 | -0.3 | -0.4 | -0.2 |
| General government | 7.1 | -5.3 | 1.1 | -1.8 | 11.8 | 4.5 | 0.2 | 6.4 | 2.6 | 7.5 | 3.6 | 1.1 | 1.4 | 1.4 |
| Demand from Mainland Norway1 | -1.4 | 1.2 | 2.5 | 3.7 | 2.3 | 1.9 | 2.0 | 3.1 | 3.1 | 2.0 | 2.3 | 1.7 | 1.8 | 1.7 |
| Stockbuilding2 | -1.6 | 1.3 | 0.2 | -0.6 | 0.5 | -0.4 | 0.0 | -0.2 | 0.5 | -0.1 | 0.0 | 0.0 | 0.0 | 0.0 |
| Exports | -4.1 | 0.6 | -0.8 | 1.7 | -1.8 | 3.4 | 4.3 | 1.1 | 1.7 | -0.2 | 1.6 | 7.3 | 3.2 | 1.8 |
| Traditional goods | -8.0 | 3.3 | -0.1 | -0.2 | 1.3 | 3.1 | 6.9 | -8.6 | 1.7 | 2.0 | 5.3 | 4.3 | 3.9 | 3.5 |
| Crude oil and natural gas | -1.6 | -6.9 | -5.6 | 0.5 | -5.5 | 2.7 | 2.1 | 4.9 | 5.1 | -4.8 | -5.3 | 14.6 | 4.1 | 1.4 |
| Imports | -10.3 | 8.4 | 3.9 | 2.9 | 5.0 | 2.0 | 1.9 | 2.7 | 1.9 | 1.9 | 6.6 | 2.6 | 0.7 | 1.8 |
| Traditional goods | -12.1 | 9.2 | 4.6 | 2.2 | 1.8 | 1.9 | 2.8 | -0.2 | 3.8 | 3.2 | 6.8 | 1.0 | 0.2 | 1.5 |
| Gross domestic product | -1.7 | 0.7 | 1.0 | 2.7 | 1.0 | 2.0 | 2.0 | 1.1 | 2.3 | 1.3 | 1.1 | 3.5 | 2.1 | 1.7 |
| Mainland Norway | -1.8 | 1.9 | 1.9 | 3.7 | 2.3 | 2.2 | 1.4 | 0.9 | 2.0 | 2.2 | 2.5 | 2.4 | 1.9 | 1.8 |
| Manufacturing | -7.8 | 2.1 | 1.7 | 2.0 | 3.3 | 2.8 | -4.6 | -4.2 | 0.0 | 0.8 | 3.6 | 1.7 | 3.4 | 1.9 |
| Labour market | ||||||||||||||
| Total hours worked, Mainland Norway | -1.8 | 0.2 | 1.7 | 1.7 | 0.4 | 1.4 | 0.7 | 0.6 | 0.3 | 1.8 | 2.0 | 2.1 | 0.7 | 0.4 |
| Employed persons | -0.4 | -0.3 | 1.4 | 2.0 | 1.1 | 1.0 | 0.5 | 0.3 | 1.2 | 1.6 | 1.7 | 0.9 | 0.6 | 0.2 |
| Labor force | 0.2 | 0.6 | 1.3 | 1.5 | 1.2 | 0.7 | 1.5 | 0.2 | -0.2 | 1.4 | 1.0 | 0.9 | 0.5 | 0.3 |
| Participation rate (level) | 72.5 | 71.7 | 71.5 | 71.4 | 71.2 | 70.7 | 71.0 | 70.4 | 69.7 | 70.2 | 70.5 | 70.8 | 70.9 | 70.8 |
| Unemployment rate (level) | 3.3 | 3.8 | 3.4 | 3.3 | 3.8 | 3.6 | 4.5 | 4.7 | 4.2 | 3.8 | 3.7 | 3.7 | 3.7 | 3.7 |
| Prices and wages | ||||||||||||||
| Wages per standard man-year | 4.2 | 3.7 | 4.2 | 4.0 | 3.9 | 3.1 | 2.8 | 1.7 | 2.3 | 2.8 | 3.5 | 3.6 | 3.6 | 3.2 |
| Consumer price index (CPI)3 | 2.1 | 2.5 | 1.2 | 0.8 | 2.1 | 2.0 | 2.1 | 3.6 | 1.8 | 2.7 | 2.3 | 2.1 | 1.9 | 2.1 |
| CPI-ATE3 | 2.6 | 1.4 | 0.9 | 1.2 | 1.6 | 2.4 | 2.7 | 3.0 | 1.4 | 1.6 | 2.4 | 2.3 | 2.1 | 2.2 |
| Export prices, traditional goods | -6.0 | 4.5 | 5.8 | -1.9 | 2.7 | 3.4 | 2.0 | 4.0 | 5.2 | 5.9 | 0.1 | 2.3 | 1.5 | 1.6 |
| Import prices, traditional goods | -1.5 | 0.0 | 4.0 | 0.3 | 1.4 | 4.3 | 4.6 | 1.7 | 3.5 | 4.5 | 2.2 | 2.4 | 1.3 | 1.7 |
| Housing prices | 1.9 | 8.2 | 8.0 | 6.8 | 4.0 | 2.7 | 6.1 | 7.0 | 5.0 | 1.4 | 2.4 | 1.8 | 2.2 | 2.3 |
| Income, interest rates and excange rate | ||||||||||||||
| Household real income | 3.4 | 2.8 | 4.3 | 4.4 | 4.0 | 2.3 | 5.4 | -1.6 | 2.0 | 1.5 | 3.1 | 1.6 | 2.4 | 1.9 |
| Household saving ratio (level) | 4.5 | 3.7 | 5.8 | 6.9 | 7.2 | 7.7 | 9.8 | 6.9 | 6.6 | 5.9 | 7.3 | 7.6 | 7.5 | 7.1 |
| Money market rate (level) | 2.5 | 2.5 | 2.9 | 2.2 | 1.8 | 1.7 | 1.3 | 1.1 | 0.9 | 1.1 | 1.5 | 1.9 | 1.9 | 1.9 |
| Lending rate, credit loans(level)4 | 4.0 | 3.4 | 3.6 | 3.9 | 4.0 | 3.9 | 3.2 | 2.6 | 2.6 | 2.7 | 3.0 | 3.4 | 3.4 | 3.5 |
| Real after-tax lending rate, banks (level) | 0.7 | 0.1 | 1.3 | 2.1 | 0.8 | 0.8 | 0.1 | -1.6 | 0.1 | -0.7 | 0.1 | 0.6 | 0.8 | 0.7 |
| Importweighted krone exchange rate (44 countries)5 | 3.3 | -3.7 | -2.4 | -1.2 | 2.2 | 5.3 | 10.5 | 1.8 | -0.8 | 0.1 | 3.0 | 3.1 | 0.0 | 0.0 |
| NOK per euro (level) | 8.73 | 8.01 | 7.79 | 7.47 | 7.81 | 8.35 | 8.95 | 9.29 | 9.33 | 9.60 | 9.85 | 10.10 | 10.10 | 10.10 |
| Current account | ||||||||||||||
| Current balance (bill. NOK)6 | 257 | 281 | 346 | 374 | 317 | 341 | 250 | 138 | 152 | 252 | 117 | 225 | 310 | 344 |
| Current account (per cent of GDP) | 10.6 | 10.8 | 12.4 | 12.6 | 10.3 | 10.8 | 8.0 | 4.5 | 4.6 | 7.1 | 3.3 | 6.0 | 8.0 | 8.5 |
| International indicators | ||||||||||||||
| Exports markets indicator | -10.5 | 11.1 | 6.1 | 1.0 | 1.9 | 4.9 | 5.3 | 3.8 | 5.5 | 3.2 | 2.8 | 3.3 | 3.0 | 2.9 |
| Consumer price index, euro-area | 0.3 | 1.6 | 2.7 | 2.5 | 1.4 | 0.4 | 0.2 | 0.2 | 1.5 | 1.8 | 1.1 | 1.1 | 1.2 | 1.4 |
| Money market rate, euro(level) | 1.2 | 0.8 | 1.4 | 0.6 | 0.2 | 0.2 | 0.0 | -0.3 | -0.3 | -0.3 | -0.4 | -0.5 | -0.5 | -0.3 |
| Crude oil price NOK (level)7 | 391 | 485 | 622 | 651 | 639 | 628 | 432 | 379 | 453 | 582 | 562 | 530 | 503 | 496 |