Main economic indicators 2003-2017. Accounts and forecasts. Percentage change from previous year unless otherwise noted

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Main economic indicators 2003-2017. Accounts and forecasts. Percentage change from previous year unless otherwise noted
  2003 2004 2005 2006 2007 2008 2009 2010 2011 2012* 2013* Forecasts
  2014 2015 2016 2017
1Consumption in households and non-profit organizations + general government consumption + gross fixed capital formation in mainland Norway.
2Change in stockbuilding. Per cent of GDP.
3According to Statistics Norway's labour force survey(LFS). Break in data series in 2006.
4CPI adjusted for tax changes and excluding energy products.
5Break in data series in 2004.
6Yearly average. Lending rate, banks until 2006.
7Increasing index implies depreciation.
8Average spot price Brent Blend.
Demand and output                              
Consumption in households etc. 3.2 5.4 4.4 5.0 5.3 1.7 0.0 3.8 2.3 3.5 2.1 2.1 1.4 2.4 2.6
General government consumption 1.3 1.3 1.9 1.9 2.0 2.4 4.1 2.2 1.0 1.6 1.7 3.1 2.5 2.3 2.0
Gross fixed investment 0.4 10.0 12.0 9.1 11.7 0.9 -6.8 -6.6 7.4 7.6 6.8 1.3 -2.8 1.1 3.5
Extraction and transport via pipelines 13.8 10.5 19.7 3.2 6.9 4.7 3.3 -8.9 11.3 15.1 17.1 -0.7 -12.8 -7.2 -1.8
mainland Norway -4.9 10.7 11.1 9.3 14.2 0.9 -10.4 -6.4 5.0 7.4 2.9 2.2 1.2 4.0 5.2
Industries -14.2 12.5 18.1 12.7 22.7 3.1 -18.4 -9.5 1.1 10.5 -1.1 -0.5 1.4 4.8 4.5
Housing 1.8 16.3 9.7 4.0 2.7 -9.0 -8.1 -1.6 17.0 10.9 6.4 -0.3 -0.7 2.6 5.2
General government 9.9 2.6 -0.6 8.4 8.7 7.2 7.7 -4.8 1.1 -1.8 6.5 10.4 3.2 4.3 6.3
Demand from Mainland Norway1 1.6 5.1 5.1 5.0 6.2 1.6 -1.4 1.6 2.6 3.2 2.5 2.4 1.7 2.7 3.0
Stockbuilding2 -1.2 2.4 -0.1 1.4 0.2 -0.1 -2.5 2.9 -0.3 -0.3 0.5 0.9 0.3 -0.1 -0.5
Exports -0.1 1.0 0.5 -0.8 1.4 0.1 -4.1 0.7 -0.8 1.4 -3.0 1.0 0.8 1.4 1.9
Crude oil and natural gas -0.8 -0.7 -5.0 -6.6 -2.4 -1.3 -1.6 -6.9 -5.6 0.5 -7.6 -0.8 -0.8 -0.5 -0.4
Traditional goods 3.7 3.6 5.3 6.1 9.2 3.5 -8.0 3.3 -0.1 -0.2 1.0 2.9 3.1 3.9 4.5
Imports 1.2 9.0 7.9 9.1 10.0 3.2 -10.0 8.3 4.0 3.1 4.3 2.8 1.8 2.0 1.5
Traditional goods 5.7 11.7 8.4 11.6 7.2 1.2 -12.1 9.2 4.6 2.6 3.2 0.8 -0.5 3.3 4.2
Gross domestic product 0.9 4.0 2.6 2.4 2.9 0.4 -1.6 0.6 1.0 2.7 0.7 2.2 0.5 1.6 2.1
Mainland Norway 1.2 5.0 4.7 5.0 5.7 1.7 -1.6 1.8 1.9 3.8 2.3 2.6 1.0 2.2 2.7
Manufacturing 2.8 4.6 3.6 2.6 3.8 2.7 -7.8 2.1 1.7 2.0 3.2 3.0 -0.6 2.3 2.8
Labour market                              
Total hours worked, Mainland Norway -2.0 2.2 1.6 3.5 4.8 3.6 -2.0 0.2 1.7 1.8 0.7 1.7 0.7 0.7 0.7
Employed persons -1.2 0.6 1.3 3.4 4.1 3.2 -0.5 -0.5 1.5 2.1 1.2 1.1 0.2 0.2 1.1
Labor force3 -0.1 0.3 0.8 1.6 2.5 3.4 0.0 0.5 1.0 1.8 1.0 1.1 0.6 0.5 0.8
Participation rate (level)3 72.9 72.6 72.4 72.0 72.8 73.9 72.8 71.9 71.4 71.5 71.2 70.6 70.3 69.9 69.8
Unemployment rate (level)3 4.5 4.5 4.6 3.4 2.5 2.6 3.2 3.6 3.3 3.2 3.5 3.5 3.9 4.0 3.7
Prices and wages                              
Wages per standard man-year 4.5 3.5 3.3 4.1 5.4 6.3 4.2 3.7 4.2 4.0 3.9 3.3 3.1 3.3 3.3
Consumer price index (CPI) 2.5 0.4 1.6 2.3 0.8 3.8 2.1 2.5 1.2 0.8 2.1 2.1 2.6 2.0 1.7
CPI-ATE4 .. 0.4 1.0 0.8 1.4 2.6 2.6 1.4 0.9 1.2 1.6 2.5 2.8 2.0 1.7
Export prices, traditional goods -1.0 8.4 4.0 11.3 2.4 2.8 -6.0 4.5 5.8 -1.9 3.1 3.4 2.2 2.0 1.6
Import prices, traditional goods 0.0 3.7 0.3 4.0 3.7 3.9 -1.5 0.0 4.0 0.3 2.1 4.8 2.8 1.5 1.4
Housing prices5 1.7 10.1 8.2 13.7 12.6 -1.1 1.9 8.3 8.0 6.7 4.1 2.3 0.2 2.5 1.3
Income, interest rates and excange rate                              
Household real income 3.3 2.7 7.9 -6.9 5.8 3.3 3.0 2.1 4.2 4.3 2.8 3.7 1.9 2.9 3.0
Household saving ratio (level) 8.8 6.9 9.7 -0.3 1.1 3.9 5.5 4.3 6.2 7.4 7.4 8.1 8.5 9.0 9.4
Money market rate (level) 4.1 2.0 2.2 3.1 5.0 6.2 2.5 2.5 2.9 2.2 1.8 1.7 1.3 1.2 1.4
Lending rate, credit loans(level)6 6.5 4.2 3.9 4.3 5.0 6.8 4.0 3.4 3.6 3.9 4.0 3.9 3.4 3.3 3.5
Real after-tax lending rate, banks (level) 2.2 2.5 1.3 0.7 2.9 1.1 0.7 0.1 1.3 2.1 0.7 0.8 -0.2 0.4 0.8
Importweighted krone exchange rate (44 countries)7 1.3 3.0 -3.9 0.7 -1.8 0.0 3.3 -3.7 -2.4 -1.2 2.2 4.9 4.0 -1.0 -0.8
NOK per euro (level) 8.0 8.4 8.0 8.1 8.0 8.2 8.7 8.0 7.8 7.5 7.8 8.3 8.6 8.6 8.5
Current account                              
Current balance (bill. NOK) 195.2 220.6 322.8 357.7 287.4 408.3 258.2 284.4 344.9 368.9 299.6 278.7 234.8 244.4 287.8
Current balance (per cent of GDP) 12.1 12.4 16.2 16.1 12.2 15.6 10.7 11.2 12.7 13.9 10.5 8.9 7.5 7.5 8.5
International indicators                              
Exports markets indicator 4.0 7.8 7.0 9.6 5.7 1.2 -10.1 11.1 5.8 1.2 1.3 3.1 2.7 4.8 5.7
Consumer price index, euro-area 2.1 2.1 2.2 2.2 2.2 3.3 0.3 1.7 2.7 2.5 1.3 0.3 -0.1 0.8 1.3
Money market rate, euro(level) 2.3 2.1 2.2 3.1 4.3 4.6 1.2 0.8 1.4 0.5 0.2 0.2 0.2 0.3 0.4
Crude oil price NOK (level)8 201 255 356 423 423 536 388 484 621 649 639 625 488 519 537

Source: Statistics Norway. The cut-off date for information was 2 December.