Final investments for 2022 within oil and gas, manufacturing, mining and quarrying and electricity supply amounted to NOK 238.2 billion, measured in current value. This gives a small increase of 0,5 per cent compared with accrued investments for 2021. Investments in manufacturing had a strong growth of 28.1 per cent. Electricity supply, on the other hand, had a sharp decline of 18.7 per cent. The investments in oil and gas industry had a slight decrease of 0.5 per cent.

Figure 1. Final Investments. Mill. current NOK

The companies' latest estimates for total investments in 2023 now suggest a strong increase of 19.0 per cent compared to the corresponding figure for 2022. The increment in 2023 is particularly driven by the fact that a significant upswing is estimated within oil and gas industry. Investments within manufacturing investments and investments in electricity supply also contribute to the upturn, with an increase of 31.7 and 14.4 per cent respectively. For more details about investments within the oil and gas industry, please see the following article.

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 investments had following development from the 3rd to the 4th quarter of 2022:

  • Oil and gas: 8.1 %
  • Manufacturing: 0.7 %
  • Electricity supply: 19.3 %

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