Moderate revisions of GDP growth

Revised national account figures show that the gross domestic product (GDP) increased by 3.5 per cent in volume from 1996 to 1997. This is the same trend that was published by Statistics Norway earlier this year. GDP growth is now calculated at 3.8 per cent for 1995 and 5.5 per cent for 1996. For both years this entails a moderate adjustment of the rate of growth in relation to figures published earlier. The accounts for 1995 are final.

The trend in total domestic applications has softened somewhat, growing 5.7 per cent from 1996 to 1997 according to the revised figures. Gross investment increased by 13.4 per cent in volume, while consumption in government, households and non-profit organizations increased by 3.1 and 3.0 per cent. Growth in public consumption has been revised upwards, while the trend in gross investment has been revised downwards. Consumption in households and non-profit organizations grew at the same rate as previously calculated.

According to the revised figures, exports increased 5.7 per cent in volume from 1996 to 1997, while import growth was down 12.3 per cent. Export growth was revised upwards by 1.6 percentage points. The growth rate for imports was adjusted upwards by a small amont. This entails a small decline in the export surplus compared with earlier announcements, which counteracts the downward revision of the domestic applications, and leads to unchanged growth in the GDP.

New Statistics

Statistics are published every year in the Weekly Bulletin of Statistics. For more information, contact: pia.tonjum@ssb.no, tel. +47 21 09 48 34 or karin.snesrud@ssb.no, tel. +47 21 09 48 81, kristian.gimming@ssb.no, tel. +47 21 09 44 17.

Weekly Bulletin issue no. 18, 1998