The investment survey conducted during the second quarter within oil and gas, manufacturing, mining and quarrying and electricity supply in 2023 amounted to NOK 275.9 billion. This is 19 per cent higher than the corresponding figure for 2023. The increase can mainly be attributed to a clear growth in investments in oil and gas activities and manufacturing investments. Investments in electricity supply also contributed positively to the increase this year.

Figure 1. Estimated investments collected in 2nd quarter same year. Mill. current NOK

The increase in 2024 is mainly due to the projection of a further increase in investments for both oil and gas activities and electricity supply. Manufacturing investment also contributes positively to this increase, but the increase is more moderate in 2024 compared with 2023.  For more details about investments within the oil and gas industry, please see the following article.

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, quarterly final investments had following development from the 4th quarter of 2022 to the 1st quarter of 2023:

  • Oil and gas: 4.4 %
  • Manufacturing: 23.6 %
  • Electricity supply: 4.2 %

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