Strong decline in total investments for 2021
Companies’ latest investment estimates for 2020 are expected to decrease within oil and gas, manufacturing, mining and quarrying and electricity supply. There is suggested a sharp decline in total investments for 2021.
The investment survey conducted in May within oil and gas, manufacturing, mining and quarrying and electricity supply in 2020 amounted to NOK 246.7 billion. This is 4.7 per cent lower than the corresponding figure for 2019. The fall can mainly be attributed to a clear decline in industrial investment, but investments in electricity supply are also declining. Investments within the oil and gas industry contributed also negatively with a minor decline of 1.9 per cent compared to the corresponding figures for 2019. For more details about investments within the oil and gas industry, please see the following article.
Companies’ latest total investment estimates for 2021 indicate a sharp decline of 15 per cent compared with the corresponding figures of 2020.The decrease in 2021 is driven by a sharp fall in investment within the oil and gas industry. Low investment within manufacturing and electricity supply also contribute negatively.
Figure 1. Estimated investments collected in 2nd quarter same year
|Extraction and pipeline transport||Manufacturing, mining and quarrying||Electricity supply, gas and steam|
According to seasonally-adjusted figures, quarterly final investments had following development from the 4th quarter of 2019 to the 1st quarter of 2020:
- Oil and gas: 2,6 %
- Manufacturing : -6.5 %
- Electricity supply: -8.8 %
Figure 2. Final investments per quarter. Seasonally adjusted. 2005=100
|Manufacturing||Electricity supply, gas and steam||Extraction and pipeline transport|