Official statistics since 1876

The prices that the Norwegian manufacturing industries received for their goods increased overall by 9.4 percent from May last year to May this year. Export prices continued to rise, but less than in April. For the second month in a row, the price growth was strongest on exported goods, both compared to the previous month and compared to the same month last year.

Commodity price shocks can be a key driver of business cycles in resource-rich small open economies.

In this report, we have estimated the extent to which the petroleum industry's purchases of goods and services generate direct deliveries from various industries in the Norwegian economy, as well as indirect deliveries from domestic subcontractors. We distinguish between goods and services intended for investments and those for ongoing operations (intermediate consumption) within the petroleum industry.

The first quarter of 2026 showed a surge in the trade balance caused by price increases on petroleum exports. In the same quarter, Norway’s net foreign assets decreased close to 8 per cent, due to volatile global stock markets and an appreciated Norwegian krone against other currencies.