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Increased activity for Mainland Norway in November

Seasonally adjusted figures from the national accounts show that GDP for Mainland Norway continued to increase in November. Many industries that have been affected by the pandemic continued their recovery. The growth in November was also driven by less cyclical industries.

Continued but dampened growth in October

Seasonally adjusted figures from the national accounts show that GDP for Mainland Norway remained unchanged in October compared with the previous month. The catch-up continued, however, for many industries that have been particularly affected by the pandemic, while the fisheries curbed growth.

Sustained growth in the Norwegian economy

GDP for mainland Norway increased by 2.6 percent from the second to the third quarter of 2021, seasonally adjusted figures show. The recovery of the Norwegian economy continued, employment rose, and increased prices on Norwegian exports gave a huge rise in the trade surplus.

Fishery contributed to economic growth in August

GDP for mainland Norway increased by 1.1 per cent in August, seasonally adjusted figures show. This is largely due to unusually high catching volumes of mackerel by the Norwegian fleet in August. Excluding the contribution provided by fishing, the economic activity on the mainland had a modest growth.

Sustained recovery in the Norwegian economy in July

Seasonally adjusted figures from the national accounts show a 0.4 per cent growth in the mainland economy in July. Several of the industries that have been hardest hit by the COVID-19 restrictions recovered further. However, in July the activity levels in these industries were still below those in February 2020.

The resource rent in Norwegian aquaculture 1984-2020

Extraordinarily high returns in a sector based on the extraction of a natural resource can be referred to as resource rents.

Reopening boosted the mainland economy in the second quarter

Gross domestic product (GDP) for mainland Norway (excluding oil and foreign shipping) increased by 1.4 percent from the first to the second quarter, seasonally adjusted figures from the national accounts show. In June, GDP for mainland Norway was back at the same level as before the pandemic in March last year.

Quarterly National Accounts

Statistics Norway started publishing the Monthly National Accounts on 11 September 2018, and this changed the way the Norwegian Quarterly National Accounts (QNA) were compiled.

Economic activity is rising again

Mainland Norway’s GDP increased 1.8 per cent in May, adjusted for seasonal variation. The growth reflects the reopening of parts of society.

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