The investment  survey conducted  in November suggest that total investments within oil and gas, manufacturing, mining and quarrying and electricity supply in 2022 will amount to NOK  239,0 billion. This is 1.8 per cent lower than the corresponding figure for 2021, given in November last year. The decline is driven by a fall in investment within oil and gas operations. In addition, electricity supply also contributes negatively. For more details about investments within the oil and gas industry, please see the following article. In manufacturing, strong investment growth is expected in 2022 compared to the corresponding estimate for 2021. 

Figure 1. Estimated investments collected in 4th quarter same year. Mill. current NOK

Companies’ latest investment estimates for 2023 indicate an increase of 5.2 per cent compared to the same figure for 2022 given in November last year. In manufacturing, strong growth is expected for next year. The same is expected within electricity supply. It is oil and gas that make a negative contribution to the total investments for the next annual estimate.

According to Figures that are adjusted for calendar effects and seasonal variation. Such adjustment gives a more accurate picture of the underlying trend in the time series and makes it easier to compare the results of subsequent quarters., quarterly final investment had the following development from the second to the third quarter of 2022:

  • Oil and gas: -0.2 %
  • Manufacturing: 3.8 %
  • Electricity supply: -9.0 % 

Figure 2. Final investments per quarter. Index. Seasonally adjusted. 2005=100