The investment survey conducted in August 2023 suggest that total investments within oil and gas, manufacturing, mining and quarrying and electricity supply in 2023 will amount to approximately NOK 291 billion. This represents an increase of 22 per cent compared with the corresponding figure for 2022, given in August last year. The rise is particularly driven by investment growth within the oil and gas industry. In manufacturing, strong investment growth is also expected in 2023 compared to the corresponding estimate for 2022. In addition, increased investments in power supply contribute to the overall increment. For more details about investments within the oil and gas industry, please see the following article.

Figure 1. Estimated investments collected in 3rd quarter same year
Bar chart with 3 data series.
The chart has 1 X axis displaying Year.
The chart has 1 Y axis displaying Mill. current NOK. Data ranges from 155627 to 291171.
Highcharts.com
End of interactive chart.
Figure 1. Estimated investments collected in 3rd quarter same year
YearExtraction and pipeline transportManufacturing, mining and quarryingElectricity supply, gas and steam
2013221 79521 20220 902
2014237 05621 64622 181
2015203 73621 25424 137
2016168 73922 98827 213
2017155 62722 31034 034
2018156 31325 99741 737
2019181 73335 11139 961
2020184 57227 39239 792
2021181 54129 10533 695
2022172 76038 25127 336
2023213 17849 00928 984

The companies’ newest estimates for 2024 suggest a significant increase compared with the corresponding estimates for 2023. High investments within oil and gas contribute most to the total investment’s growth for the next year. In power supply, strong growth is expected for next year. Within manufacturing, a decline is reported for the next year.

According to Seasonally-adjusted figures: 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. figures, quarterly final investments had the following development from the first to the second quarter of 2023:

  • Oil and gas: 2,7 %
  • Manufacturing: -7,8 %
  • Electricity supply: - 7,2 %
Figure 2. Final investments per quarter. Seasonally adjusted. 2005=100
Line chart with 3 lines.
The chart has 1 X axis displaying Quarter.
The chart has 1 Y axis displaying Index. Data ranges from 100.2 to 513.1.
Highcharts.com
End of interactive chart.
Figure 2. Final investments per quarter. Seasonally adjusted. 2005=100
QuarterManufacturingElectricity supply, gas and steamExtraction and pipeline transport
Q2-2013110.7234.7235.9
Q3-2013108245253.3
Q4-2013103.5253253.1
Q1-2014111.7258.7255.4
Q2-2014112.3275.8253.3
Q3-2014112.1246.2249.1
Q4-2014117.8248.5237.1
Q1-2015100.2263.3242.8
Q2-2015103.9269.4230
Q3-2015116.9265.5216.6
Q4-2015108.4288.6203.5
Q1-2016127.5309.3192
Q2-2016123.8287.1186.9
Q3-2016124.4313.2179.1
Q4-2016129323.5171
Q1-2017121.1369.7171
Q2-2017110.3313.4170.4
Q3-2017110.7415.1152.5
Q4-2017123.1376.1165.3
Q1-2018121.3424.1154.3
Q2-2018133.7473.4161.8
Q3-2018134489.2170.7
Q4-2018137.7479.5183.2
Q1-2019158.2418183.2
Q2-2019162.4445.3192.4
Q3-2019185.1486.7200.3
Q4-2019172.9476.2209.2
Q1-2020158.4414.2212.1
Q2-2020137.3513.1195.2
Q3-2020142.3479.1190.4
Q4-2020141.9417.7198.1
Q1-2021147.5369.9198
Q2-2021139387.9196.4
Q3-2021131.1360196.2
Q4-2021174.4303.8196.7
Q1-2022168.7286.3191.7
Q2-2022195.2289.7192.2
Q3-2022199.2261.8192.1
Q4-2022200.5306.4207
Q1-2023249.3322.6216.6
Q2-2023229.9299.5222.4