Manufacturing, mining and quarrying
Statistics
Analyses, articles and publications
Low overall investment in 2026 and moderate increase for 2027
Companies’ latest investment estimates for 2026 within oil and gas, manufacturing, mining and quarrying and electricity supply indicate a marginal decrease in 2026. Early estimates indicate that the growth will be moderate in 2027. It is oil and gas that contribute most to the decrease in 2026.
Moderate decline in oil investments in 2026
Total investments in oil and gas activity in 2026, including pipeline transportation, are estimated at NOK 266 billion. This is NOK 9 billion lower than estimated in the previous quarter. Compared to 2025, a decrease of 3.4 percent is now indicated.
Weak production growth in manufacturing
Norwegian industrial leaders report a weak growth in total industrial production in the third quarter. The outlook for the fourth quarter is considered positive for the manufacturing as a whole.
Marginally lower investments in 2026, but still at a high level
Although 2026 investments in industry are estimated to be somewhat lower than in 2025, the level is still high historically. At the same time, updated investment estimates for 2027 suggest that industrial investments will remain at the same level next year.
Oil investment estimate for 2026 upward adjusted
Total investments in oil and gas activity in 2027, including pipeline transportation, are in accrued value estimated at NOK 227 billion, which is 10 per cent higher than estimated in the previous quarter.
Marginal production growth in manufacturing
Norwegian industrial leaders report a marginal growth in total industrial production in the 2nd quarter, while new orders have decreased. At the same time, the outlook for the second quarter is considered positive for the manufacturing as a whole.
Oil investment estimate for 2026 upward adjusted
Total investments in oil and gas activity in 2026, including pipeline transportation, are estimated at NOK 266 billion, which is NOK 11 billion higher than estimated in the previous quarter.
Growth in total investment for 2026 and 2027
Companies’ latest investment estimates for 2026 within oil and gas, manufacturing, mining and quarrying and electricity supply indicate an increase in 2026. Early estimates indicate that the growth will continue in 2027.
Lower demand from the export market in manufacturing
Norwegian industrial leaders report unchanged in total industrial production in the 1st quarter, while new orders from the export market have decreased. At the same time, the outlook for the second quarter is considered positive for the manufacturing as a whole.
Increase in investments in 2025
Final investments for 2025 covering oil and gas, manufacturing, mining and quarrying and electricity supply increased moderately compared to 2024. The increase is primarily driven by higher investments in oil and gas industry. Investments in electricity supply contributed also to this increment. Investment in manufacturing showed a moderate increased. The latest estimates for 2026 indicate a further investment growth.
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