Norway

Nominal GDP for Norway was NKR4,141bn in 2021, down from NKR3,413bn in 2020. The Norwegian population was estimated at 5.4m in 2021 according to the IMF, while Germany is Norway’s biggest trading partner.

Variables Surveyed for Norway

Variables covered in our monthly analysis of Norway include:

  • Gross Domestic Product
  • Private Consumption
  • Gross Fixed Investment
  • Manufacturing Production
  • Consumer Prices
  • Wages and Salaries
  • Current Account
  • General Government Budget Balance
  • Interest Rates
  • Krone Currency Forecasts

Consensus Forecasts for Norway

Individual panellist forecasts are shown for each of the variables surveyed, along with the consensus (mean) forecast. The rows of forecasts are ranked by the GDP growth estimate for the current year, highest to lowest. In the hard copy and pdf version of the publication, we also show selected “comparison forecasters”  including the IMF, and the Bank of Norway. The table below shows a small example set of forecasts for GDP growth and Consumer Prices (CPI), taken from our survey of September 2022.

Source: Conensus Forecasts – G-7 and Western Europe, September 2022

Special Surveys

In addition to the regular surveys for the variables listed above we also undertake a number of Special Surveys for Norway on topics such as:

Main Data Sources for Norway

  • Statistics Norway: Statistics Norway is the national statistical institute of Norway and the main producer of official statistics. It is responsible for collecting, producing and communicating statistics related to the economy, population and society at national, regional and local levels. Statistics Norway also conducts extensive research and analysis activities.
  • Bank of Norway: Norges Bank is Norway's central bank. The Bank promotes economic stability in Norway. Norges Bank also manages the Government Pension Fund Global and the bank’s own foreign exchange reserves.

Comprehensive Forecasts Coverage

Consensus Economics has collected forecasts for more than 30 years, building up a comprehensive catalogue of historical forecasts data. Please enquire at editors@consensuseconomics.com should you wish to find out more about these data offerings, pricing and the different platforms by which you can access them.
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