Main economic indicators 2009-2021. Accounts and forecasts. Percentage change from previous year unless otherwise noted

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Main economic indicators 2009-2021. Accounts and forecasts. Percentage change from previous year unless otherwise noted
  2009 2010 2011 2012 2013 2014 2015 2016* 2017* Forecasts
  2018 2019 2020 2021
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.
5Yearly average. Lending rate, banks until 2006.
6Increasing index implies depreciation.
7Current account not adjusted for saving in pension funds.
8Average spot price Brent Blend.
Demand and output                          
Consumption in households etc. 0.0 3.8 2.3 3.5 2.8 2.1 2.6 1.3 2.2 2.5 2.6 2.5 2.6
General government consumption 4.1 2.2 1.0 1.6 1.0 2.7 2.4 2.1 2.5 1.8 1.7 1.8 1.7
Gross fixed investment -6.8 -6.4 7.5 7.6 6.3 -0.3 -4.0 5.2 3.6 0.6 4.0 3.1 1.6
Extraction and transport via pipelines 2.9 -8.0 11.4 14.6 19.0 -1.8 -12.2 -16.0 -3.8 4.3 10.1 3.9 -0.4
mainland Norway -10.4 -6.4 5.0 7.4 2.9 0.4 -0.2 10.7 7.0 -0.1 2.3 2.9 2.2
Industries -18.4 -9.5 1.1 10.5 -3.2 -0.7 -2.8 16.5 9.3 4.7 4.7 3.5 2.5
Housing -8.1 -1.6 17.0 10.9 5.3 -1.4 3.2 6.6 7.0 -10.3 -0.2 4.4 2.9
General government 7.7 -4.8 1.1 -1.8 11.8 4.4 0.2 6.7 3.6 3.0 0.4 0.6 1.0
Demand from Mainland Norway1 -1.4 1.2 2.5 3.7 2.3 1.9 2.0 3.5 3.3 1.7 2.3 2.4 2.3
Stockbuilding2 -2.1 3.7 -0.3 -0.3 0.3 -0.1 -0.5 -0.4 2.3 0.8 0.0 0.0 0.0
Exports -4.1 0.6 -0.8 1.6 -1.7 3.1 4.7 1.1 -0.2 0.6 2.2 3.6 3.8
Traditional goods -8.0 3.3 -0.1 -0.2 1.3 3.1 6.9 -8.6 1.7 3.4 3.2 3.5 3.4
Crude oil and natural gas -1.6 -6.9 -5.6 0.5 -5.5 2.7 2.1 4.9 1.5 -3.1 0.0 5.2 5.3
Imports -10.3 8.4 3.9 3.0 5.0 2.4 1.6 3.3 1.6 2.7 3.7 2.9 2.6
Traditional goods -12.1 9.2 4.6 2.6 2.3 2.1 3.2 -0.1 2.7 3.8 4.1 3.2 2.9
Gross domestic product -1.7 0.7 1.0 2.7 1.0 2.0 2.0 1.2 2.0 1.8 2.1 2.6 2.5
Mainland Norway -1.7 1.9 1.9 3.7 2.3 2.2 1.4 1.1 2.0 2.3 2.4 2.4 2.2
Manufacturing -7.8 2.1 1.7 2.0 3.3 2.8 -4.6 -4.9 0.0 2.8 2.6 2.5 1.6
Labour market                          
Total hours worked, Mainland Norway -2.0 0.2 1.7 1.8 0.3 1.4 0.7 0.4 0.3 1.3 1.4 1.2 0.8
Employed persons -0.5 -0.5 1.5 2.1 1.1 1.2 0.4 0.2 1.1 1.4 1.4 1.2 0.8
Labor force3 0.0 0.5 1.0 1.8 1.0 1.1 1.4 0.2 -0.2 1.1 1.3 1.2 0.9
Participation rate (level)3 72.8 71.9 71.4 71.5 71.2 71.0 71.2 70.4 69.7 69.9 70.4 70.9 71.2
Unemployment rate (level)3 3.2 3.6 3.3 3.2 3.5 3.5 4.4 4.7 4.2 3.9 3.8 3.7 3.7
Prices and wages                          
Wages per standard man-year 4.2 3.7 4.2 4.0 4.0 3.1 2.8 1.7 2.3 2.8 3.3 3.6 4.0
Consumer price index (CPI) 2.1 2.5 1.2 0.8 2.1 2.0 2.1 3.6 1.9 2.8 1.7 1.5 2.0
CPI-ATE4 2.6 1.4 0.9 1.2 1.6 2.4 2.7 3.1 1.4 1.5 1.7 1.8 2.0
Export prices, traditional goods -5.9 44.0 5.8 -1.9 2.6 3.4 2.0 3.6 5.4 6.9 1.1 -0.5 0.4
Import prices, traditional goods -1.5 -0.1 4.0 0.3 1.5 4.4 4.7 1.8 3.6 2.9 1.2 0.9 1.5
Housing prices 1.9 8.2 8.0 6.8 4.0 2.7 6.1 7.0 5.0 1.2 0.9 1.1 1.2
Income, interest rates and excange rate                          
Household real income 3.2 2.3 4.1 4.4 3.9 2.9 5.5 -1.7 1.6 2.5 3.1 3.4 3.0
Household saving ratio (level) 5.2 4.0 5.9 7.1 7.4 8.2 10.3 7.1 6.9 6.9 7.3 8.7 9.1
Money market rate (level) 2.5 2.5 2.9 2.2 1.8 1.7 1.3 1.1 0.9 1.1 1.4 1.9 2.4
Lending rate, credit loans(level)5 4.0 3.4 3.6 3.9 4.0 3.9 3.2 2.6 2.6 2.7 3.1 3.4 3.8
Real after-tax lending rate, banks (level) 0.7 0.1 1.3 2.1 0.7 0.8 0.1 -1.6 0.1 -0.7 0.7 1.2 0.9
Importweighted krone exchange rate (44 countries)6 3.3 -3.8 -2.4 -1.2 2.2 5.3 10.4 1.9 -0.8 -0.2 -1.6 -1.9 -0.5
NOK per euro (level) 8.73 8.01 7.79 7.47 7.81 8.35 8.95 9.29 9.33 9.59 9.34 9.17 9.12
Current account                          
Current balance (bill. NOK)7 261 284 346 371 316 331 246 124 186 309 337 347 362
Current account (per cent of GDP) 10.7 10.9 12.4 12.5 10.3 10.5 8.1 4.0 5.7 8.7 9.1 9.0 9.0
International indicators                          
Exports markets indicator -9.6 11.1 6.5 1.4 2.0 5.2 5.1 4.0 4.8 3.6 4.9 4.6 4.5
Consumer price index, euro-area 0.3 1.6 2.7 2.5 1.4 0.4 0.0 0.2 1.5 1.7 1.8 1.9 2.0
Money market rate, euro(level) 1.2 0.8 1.4 0.6 0.2 0.2 0.0 -0.3 -0.3 -0.2 0.3 0.5 0.9
Crude oil price NOK (level)8 388 485 621 650 639 622 431 378 445 568 598 586 583

Source: Statistics Norway. The cut-off date for information was 4 September 2018.