The investment survey conducted in November suggest that total investments within oil and gas, manufacturing, mining and quarrying and electricity supply in 2023 will amount to approximately NOK 292.0 billion. This is 22 per cent higher than the corresponding figure for 2022, given in November last year. The growth is mainly driven by an increase within oil and gas operations. Additionally, both manufacturing and electricity supply contribute positively to the overall investments. For more details about investments within the oil and gas industry, please see the following article.
Companies’ latest investment estimates for 2024 indicate an increase of approximately 38 per cent compared to the same figure for 2023 given in November last year. For investments within oil and gas, strong growth is expected for next year. Electricity supply also contribute positively to the overall investments. In industry, a decline is expected in 2024, but the estimate is still at a high level compared to previous years.
According to Seasonally-adjusted figures: Figures that are adjusted for calendar effects and seasonal variation. Such adjustment gives a more accurate picture of the underlying trend in the time series and makes it easier to compare the results of subsequent quarters., quarterly final investment had the following development from the second to the third quarter of 2023:
- Oil and gas: 11.5 %
- Manufacturing: 7.0 %
- Electricity supply: 3.4 %