Publication of the monthly national accounts for April and May is postponed until the publication of the 2nd quarter. Similarly, figures for July and August will be released together with the publication of the 3rd quarter.
National accounts
Updated: 22 August 2024
Next update: 21 November 2024
| 2022 | 2023 | 2nd quarter 2024 | April 2024 | May 2024 | June 2024 | |
|---|---|---|---|---|---|---|
| Gross domestic product | 3.0 | 0.5 | 1.4 | 0.1 | 0.6 | 2.3 |
| Gross domestic product Mainland Norway | 3.7 | 0.7 | 0.1 | 0.1 | 0.4 | 0.0 |
| Petroleum activities and ocean transport | 0.6 | -0.1 | 5.6 | 0.4 | 1.3 | 9.8 |
| Final domestic use of goods and services | 5.4 | 0.1 | -0.1 | 0.2 | 0.1 | 1.4 |
| Final consumption expenditure of households and NPISH | 6.2 | -0.8 | 1.5 | 1.2 | 0.7 | 1.0 |
| Final consumption expenditure of general government | 1.1 | 3.4 | 0.7 | 0.0 | 0.4 | 0.4 |
| Gross fixed capital formation (GFCF) | 5.2 | 0.0 | 5.1 | 14.6 | -6.6 | -0.2 |
| Total exports | 4.5 | 1.4 | 5.6 | 3.1 | 0.7 | 1.5 |
| Total imports | 12.5 | 0.7 | 3.1 | 4.7 | -0.6 | -1.4 |
| Employed persons | 3.9 | 1.3 | 0.0 | |||
| Total hours worked | 3.9 | 0.8 | -0.1 | |||
| 1Figures from 2022 onwards are preliminary. |
Selected tables and charts from this statistics
- Final expenditure and gross domestic product. Monthly. Seasonally adjusted figures. Percentage change in volume from the previous periodDownload table as ...Final expenditure and gross domestic product. Monthly. Seasonally adjusted figures. Percentage change in volume from the previous period1
November 2023 December 2023 January 2024 February 2024 March 2024 April 2024 May 2024 June 2024 Final consumption expenditure of households and NPISHs 0.3 -0.1 -0.6 0.3 -0.9 1.2 0.7 1.0 ¬ Household final consumption expenditure 0.3 -0.1 -0.5 0.2 -0.9 1.3 0.7 1.1 ¬¬ Goods 1.1 -0.6 -2.0 0.7 -1.5 3.1 0.1 1.6 ¬¬ Services -0.1 0.4 0.3 -0.4 0.2 -0.6 0.9 0.1 ¬¬ Direct purchases abroad by resident households -3.0 4.2 0.4 1.7 -0.7 -0.9 2.2 -1.6 ¬¬ Direct purchases by non-residents -2.7 8.5 -6.5 1.6 6.4 -7.9 0.2 -11.3 ¬ Final consumption expenditure of NPISHs -0.1 -0.1 -2.6 1.8 -0.6 -1.5 1.9 0.3 Final consumption expenditure of general governmen 0.4 0.6 -0.6 0.3 0.3 0.0 0.4 0.4 ¬ Final consumption expenditure of central government 0.2 0.7 -0.6 0.5 0.5 -0.2 0.7 0.4 ¬¬¬ Central government, civilian 0.1 0.7 -0.5 0.5 0.6 -0.4 0.9 0.4 ¬¬¬ Central government, defence 0.8 1.3 -1.1 1.1 0.3 0.8 -0.1 0.9 ¬ Final consumption expenditure of local government 0.7 0.5 -0.5 0.2 0.0 0.3 0.0 0.3 Gross fixed capital formation (GFCF) -0.3 -1.6 -4.9 0.5 -6.0 14.6 -6.6 -0.2 ¬ Extraction and transport via pipelines (GFCF) -2.4 3.0 -8.9 -2.0 -0.4 10.7 1.9 -2.9 ¬ Ocean transport (GFCF) 0.0 -0.6 -86.5 -7.1 -7.4 881.9 -98.7 .. ¬ Mainland Norway (GFCF) 0.2 -2.7 -2.0 1.1 -7.3 12.9 -6.3 1.0 ¬¬ Mainland Norway excluding general government (GFCF) 0.4 -4.1 0.3 1.0 -9.7 18.6 -8.8 1.3 ¬¬¬ Industries (GFCF) -0.2 -3.6 0.7 1.8 -11.5 24.5 -10.5 2.8 ¬¬¬¬ Services activities incidential to extraction (GFCF) -0.1 3.6 1.1 0.0 0.8 3.8 1.6 -0.9 ¬¬¬¬ Other services (GFCF) -3.3 -5.4 4.9 1.2 -13.6 31.4 -13.6 1.6 ¬¬¬¬ Manufacturing and mining (GFCF) -1.1 1.4 -7.8 1.4 -2.8 2.7 -1.4 0.6 ¬¬¬¬ Production of other goods (GFCF) 14.5 -1.9 -6.9 5.3 -12.2 21.3 -6.0 9.8 ¬¬¬ Dwelling service (households) (GFCF) 2.0 -5.3 -0.5 -1.2 -5.0 4.4 -4.1 -2.5 ¬¬¬ General government (GFCF) -0.2 0.6 -7.4 1.4 -1.2 -0.2 0.6 0.0 Acquisitions less disposals of valuables -0.4 -0.1 12.9 3.6 -11.0 32.8 -20.6 -3.6 Changes in stocks and statistical discrepancies 91.3 26.5 107.6 -5.2 12.0 -73.6 109.4 29.7 Gross capital formation 2.9 0.2 4.2 -0.4 -3.2 -1.2 -1.1 2.9 Final domestic use of goods and services 1.1 0.2 0.8 0.1 -1.3 0.2 0.1 1.4 Final demand from Mainland Norway (excl. changes in stocks) 0.3 -0.5 -0.9 0.5 -2.0 3.3 -1.0 0.8 Final demand from general government 0.3 0.6 -1.9 0.5 0.0 0.0 0.4 0.3 Total exports 0.7 1.1 -1.7 -2.7 3.5 3.1 0.7 1.5 ¬ Traditional goods (export) 2.0 -4.9 -2.0 -1.9 -1.9 5.6 0.0 -0.3 ¬ Crude oil and natural gas (export) -0.2 4.4 -2.2 -5.2 7.7 1.4 1.9 2.6 ¬ Ships, oil platforms and aircraft (export) 337.0 -80.1 250.0 108.4 -7.2 -10.2 -17.4 103.4 ¬ Services (export) 0.3 1.8 -1.1 1.0 0.8 4.6 -0.9 -0.4 Total use of goods and services 1.0 0.5 -0.1 -0.8 0.3 1.2 0.3 1.4 Total imports 0.4 1.0 -0.5 -0.7 -0.6 4.7 -0.6 -1.4 ¬ Tradisjonelle varer (import) 1.5 1.8 -2.1 1.1 -0.2 4.1 0.6 -2.3 ¬ Crude oil and natural gas (import) -12.8 -52.6 45.8 -32.3 33.1 30.1 -14.2 -4.8 ¬ Ships, oil platforms and aircraft (import) -6.6 -1.7 93.6 -58.3 1.0 145.1 -37.2 -1.0 ¬ Services (import) -0.4 1.6 -1.3 0.3 -1.8 2.0 -0.2 0.1 Gross domestic product, market values2 1.1 0.3 0.1 -0.9 0.6 0.1 0.6 2.3 Gross domestic product Mainland Norway, market values2 -0.1 -0.2 0.5 -0.2 -0.2 0.1 0.4 0.0 Petroleum activities and ocean transport3 5.5 2.3 -1.3 -3.1 3.1 0.4 1.3 9.8 Gross domestic product Mainland Norway, basic values -0.2 -0.2 0.6 -0.2 0.0 0.1 0.3 0.0 ¬ Mainland Norway excluding general government (GDP) -0.5 -0.4 0.8 -0.3 -0.3 0.2 0.3 -0.1 ¬¬ Manufacturing and mining (GDP) -0.4 0.4 -0.3 -0.5 3.7 -2.9 1.9 0.6 ¬¬ Production of other goods (GDP) -2.1 -1.7 2.4 0.0 -2.1 0.5 -0.1 -0.5 ¬¬ Service activities (GDP) 0.0 -0.2 0.5 -0.4 -0.4 0.7 0.2 -0.1 ¬ General government (GDP) 0.5 0.3 0.2 0.1 0.7 -0.4 0.3 0.4 Taxes and subsidies products 0.4 -0.5 -0.3 -0.3 -1.1 0.1 0.8 -0.6 1Figures from 2022 onwards are preliminary 2Gross domestic product is measured at market prices, while value added by industry is measured at basic prices 3Includes oil and gas extraction, transport via pipelines and ocean transport Explanation of symbolsDownload table as ... - Final expenditure and gross domestic product. Rolling three-month sum. Seasonally adjusted. Percentage change in volumeDownload table as ...Final expenditure and gross domestic product. Rolling three-month sum. Seasonally adjusted. Percentage change in volume1 2
September 2023 - November 2023 October 2023 - December 2023 November 2023 - January 2024 December 2023 - February 2024 January 2024 - March 2024 February 2024 - April 2024 March 2024 - May 2024 April 2024 - June 2024 Final consumption expenditure of households and NPISHs -0.2 0.5 0.5 0.1 -0.7 -0.4 0.1 1.5 ¬ Household final consumption expenditure -0.2 0.6 0.6 0.2 -0.6 -0.3 0.1 1.6 ¬¬ Goods 0.3 2.1 1.3 -0.2 -2.1 -0.8 0.3 2.9 ¬¬ Services 0.0 0.1 0.4 0.5 0.3 -0.2 -0.2 -0.1 ¬¬ Direct purchases abroad by resident households -1.2 -1.0 -0.1 3.1 3.1 2.6 0.7 0.1 ¬¬ Direct purchases by non-residents 8.9 10.0 5.6 4.7 0.9 1.2 -0.4 -7.1 ¬ Final consumption expenditure of NPISHs 0.5 0.1 -0.9 -1.3 -1.7 -1.0 -0.7 0.0 Final consumption expenditure of general governmen 1.0 1.0 0.8 0.6 0.3 0.3 0.4 0.7 ¬ Final consumption expenditure of central government 1.5 1.4 0.7 0.6 0.5 0.7 0.8 0.9 ¬¬¬ Central government, civilian 1.5 1.5 0.7 0.6 0.5 0.6 0.7 0.9 ¬¬¬ Central government, defence 1.4 0.9 0.9 1.1 0.8 1.2 1.1 1.6 ¬ Final consumption expenditure of local government 0.4 0.6 0.8 0.6 0.1 0.0 0.1 0.4 Gross fixed capital formation (GFCF) -0.6 0.8 -2.0 -4.1 -7.6 -2.9 -0.6 5.1 ¬ Extraction and transport via pipelines (GFCF) 7.4 7.9 2.0 -2.2 -9.2 -4.0 2.7 10.0 ¬ Ocean transport (GFCF) 39.2 106.6 -12.7 -45.9 -87.5 -35.3 1.1 170.2 ¬ Mainland Norway (GFCF) -2.9 -2.0 -2.7 -3.8 -5.4 -2.1 -1.5 3.5 ¬¬ Mainland Norway excluding general government (GFCF) -6.0 -5.6 -4.8 -4.6 -4.9 -1.1 -0.9 4.9 ¬¬¬ Industries (GFCF) -6.3 -5.6 -4.9 -4.2 -4.5 0.6 0.5 8.2 ¬¬¬¬ Services activities incidential to extraction (GFCF) 11.1 12.3 8.9 7.2 3.7 3.7 4.2 5.0 ¬¬¬¬ Other services (GFCF) -7.7 -9.7 -10.1 -6.7 -3.9 2.5 1.7 9.1 ¬¬¬¬ Manufacturing and mining (GFCF) 5.0 8.8 2.5 -1.5 -7.3 -4.5 -3.3 0.5 ¬¬¬¬ Production of other goods (GFCF) -10.8 -2.0 11.2 2.5 -4.7 -2.2 -0.8 12.0 ¬¬¬ Dwelling service (households) (GFCF) -5.1 -5.4 -4.6 -5.6 -5.9 -5.3 -4.6 -3.1 ¬¬¬ General government (GFCF) 6.0 7.8 2.7 -1.5 -6.6 -4.3 -2.8 -0.1 Acquisitions less disposals of valuables -6.5 -4.1 1.9 9.3 11.0 14.7 6.7 6.0 Changes in stocks and statistical discrepancies -9.7 -26.5 47.9 96.5 183.4 22.9 -20.6 -45.8 Gross capital formation -1.3 -1.4 1.6 3.0 3.9 -0.2 -3.3 -3.3 Final domestic use of goods and services -0.2 0.1 0.9 1.1 0.9 -0.1 -0.8 -0.1 Final demand from Mainland Norway (excl. changes in stocks) -0.5 0.1 -0.2 -0.6 -1.5 -0.5 -0.2 1.7 Final demand from general government 1.9 2.2 1.1 0.2 -1.0 -0.5 -0.1 0.5 Total exports -0.6 3.4 3.6 1.4 -1.4 -0.2 3.4 5.6 ¬ Traditional goods (export) 3.5 3.0 0.8 -5.0 -6.5 -4.4 -0.2 3.5 ¬ Crude oil and natural gas (export) -2.8 4.5 6.0 4.3 -0.5 0.1 4.7 6.9 ¬ Ships, oil platforms and aircraft (export) -74.0 -73.0 -48.0 51.4 144.5 111.3 51.5 21.3 ¬ Services (export) 1.6 3.7 2.7 2.3 1.1 3.0 3.9 4.7 Total use of goods and services -0.4 1.2 1.8 1.2 0.1 -0.1 0.6 1.8 Total imports -1.0 -0.3 0.4 0.0 -0.4 0.4 1.6 3.1 ¬ Tradisjonelle varer (import) -0.5 -1.1 0.3 0.2 0.3 1.5 2.7 3.9 ¬ Crude oil and natural gas (import) 55.3 -6.1 -33.8 -52.6 -32.1 -12.3 30.2 21.6 ¬ Ships, oil platforms and aircraft (import) -58.9 -42.1 -3.8 9.4 14.6 -8.3 8.8 26.5 ¬ Services (import) 1.0 3.3 2.2 1.5 -0.8 -0.6 -0.8 0.8 Gross domestic product, market values3 -0.2 1.7 2.2 1.6 0.3 -0.3 0.3 1.4 Gross domestic product Mainland Norway, market values 0.3 0.3 0.2 0.0 0.1 -0.1 0.0 0.1 Petroleum activities and ocean transport4 -1.6 6.6 9.3 7.0 0.9 -1.1 1.2 5.6 Gross domestic product Mainland Norway, basic values 0.3 0.3 0.2 0.1 0.2 0.1 0.2 0.2 ¬ Mainland Norway excluding general government (GDP) 0.2 0.0 -0.1 -0.2 0.0 -0.1 0.0 0.1 ¬¬ Manufacturing and mining (GDP) -0.3 0.2 0.1 0.1 0.6 0.9 1.9 0.7 ¬¬ Production of other goods (GDP) -0.3 -1.0 -1.5 -1.3 -0.1 -0.2 -1.0 -1.1 ¬¬ Service activities (GDP) 0.4 0.3 0.2 0.0 0.0 -0.2 0.0 0.3 ¬ General government (GDP) 0.5 0.9 1.1 1.0 0.9 0.7 0.7 0.4 Taxes and subsidies products 0.3 0.4 0.2 -0.4 -1.0 -1.3 -1.0 -0.4 1Figures from 2022 onwards are prelimanry 2Rolling three-month growth is calculated by comparing a three-month period with the previous three-month period, for example growth in May to July compared with February to April. Furthermore, March, June, September and December represent the quarters in a year. For example, March will represent the first quarter. 3Gross domestic product is measured at market prices, while value added by industry is measured at basic prices. 4Includes oil and gas extraction, transport via pipelines and ocean transport. Explanation of symbolsDownload table as ... - Final expenditure and gross domestic product. Quarter and year. At current prices. NOK millionDownload table as ...Final expenditure and gross domestic product. Quarter and year. At current prices. NOK million1
2022 2023 2nd quarter 2023 3rd quarter 2023 4th quarter 2023 1st quarter 2024 2nd quarter 2024 Final consumption expenditure of households and NPISHs 1 816 130 1 922 925 484 375 465 947 512 588 476 635 510 205 ¬ Household final consumption expenditure 1 712 018 1 811 633 457 192 441 001 482 113 448 321 481 760 ¬¬ Goods 831 470 833 448 211 765 199 153 228 486 197 809 219 795 ¬¬ Services 812 606 880 728 217 826 218 326 226 122 229 491 234 019 ¬¬ Direct purchases abroad by resident households 123 391 162 909 43 863 51 422 38 096 34 684 45 910 ¬¬ Direct purchases by non-residents -55 448 -65 452 -16 263 -27 900 -10 591 -13 663 -17 964 ¬ Final consumption expenditure of NPISHs 104 111 111 292 27 183 24 946 30 475 28 314 28 445 Final consumption expenditure of general governmen 1 037 454 1 121 856 283 823 278 958 292 430 287 710 303 963 ¬ Final consumption expenditure of central government 520 806 564 186 141 861 138 212 149 880 145 211 154 038 ¬¬¬ Central government, civilian 457 233 493 488 123 904 120 825 131 009 126 852 133 890 ¬¬¬ Central government, defence 63 573 70 697 17 957 17 387 18 871 18 358 20 148 ¬ Final consumption expenditure of local government 516 648 557 670 141 962 140 746 142 550 142 499 149 925 Gross fixed capital formation (GFCF) 1 123 852 1 196 536 294 760 295 506 330 906 266 271 301 965 ¬ Extraction and transport via pipelines (GFCF) 176 961 216 121 51 177 56 373 63 123 54 996 64 151 ¬ Ocean transport (GFCF) 18 713 11 362 1 209 2 744 6 049 736 2 108 ¬ Mainland Norway (GFCF) 928 178 969 053 242 375 236 388 261 734 210 539 235 706 ¬¬ Industries (GFCF) 451 013 499 330 128 798 126 500 123 041 110 977 128 417 ¬¬¬ Services activities incidential to extraction (GFCF) 5 164 6 290 1 634 1 460 1 919 1 877 2 216 ¬¬¬ Other services (GFCF) 314 825 337 193 88 846 87 318 76 766 74 791 85 660 ¬¬¬ Manufacturing and mining (GFCF) 58 496 72 658 17 068 16 474 22 366 17 008 17 892 ¬¬¬ Production of other goods (GFCF) 72 527 83 189 21 250 21 248 21 990 17 301 22 649 ¬¬ welling service (households) (GFCF) 235 422 207 736 51 265 49 956 49 203 46 351 44 315 ¬¬ General government (GFCF) 241 744 261 988 62 311 59 933 89 491 53 211 62 974 Acquisitions less disposals of valuables 235 279 68 60 77 78 83 Changes in stocks and statistical discrepancies 114 248 129 720 20 321 9 864 15 494 80 145 28 217 Gross capital formation 1 238 335 1 326 534 315 148 305 430 346 478 346 493 330 264 Final domestic use of goods and services 4 091 919 4 371 315 1 083 346 1 050 335 1 151 496 1 110 838 1 144 433 Final demand from Mainland Norway (excl. changes in stocks) 3 781 762 4 013 834 1 010 572 981 294 1 066 752 974 883 1 049 874 Final demand from general government 1 279 198 1 383 844 346 134 338 892 381 921 340 921 366 937 Total exports 3 165 766 2 419 630 570 742 564 350 641 050 540 519 595 036 ¬ Traditional goods (export) 626 475 662 160 165 663 156 118 173 477 147 807 156 988 ¬ Crude oil and natural gas (export) 2 014 399 1 194 085 264 620 255 816 325 131 257 658 286 879 ¬ Ships, oil platforms and aircraft (export) 11 419 7 078 1 819 3 043 1 087 2 142 2 714 ¬ Services (export) 513 473 556 307 138 640 149 373 141 355 132 912 148 455 Total use of goods and services 7 257 684 6 790 945 1 654 088 1 614 685 1 792 546 1 651 357 1 739 468 Total imports 1 549 495 1 664 444 430 337 413 106 425 205 384 356 443 372 ¬ Tradisjonelle varer (import) 975 008 993 279 255 129 234 481 255 097 229 144 269 119 ¬ Crude oil and natural gas (import) 22 984 26 521 5 533 6 829 6 672 4 563 3 900 ¬ Ships, oil platforms and aircraft (import) 27 337 29 784 12 471 7 531 4 407 5 057 6 943 ¬ Services (import) 524 166 614 861 157 204 164 265 159 029 145 592 163 410 Gross domestic product, market values2 5 708 190 5 126 500 1 223 751 1 201 579 1 367 342 1 267 001 1 296 096 Gross domestic product Mainland Norway, market values2 3 646 328 3 855 396 947 109 929 346 1 014 868 987 374 1 005 637 Petroleum activities and ocean transport3 2 061 862 1 271 104 276 642 272 232 352 473 279 627 290 459 Gross domestic product Mainland Norway, basic values 3 221 478 3 398 162 832 837 816 424 890 384 876 894 883 722 ¬ Mainland Norway excluding general government (GDP) 2 436 292 2 554 045 617 671 606 560 670 631 661 673 653 221 ¬¬ Manufacturing and mining (GDP) 290 250 319 661 79 207 79 343 80 831 79 715 81 401 ¬¬ Production of other goods (GDP) 538 952 491 190 110 270 111 597 130 809 133 413 107 417 ¬¬ Service activities (GDP) 1 607 089 1 743 194 428 194 415 620 458 990 448 545 464 403 ¬ General government (GDP) 785 187 844 118 215 166 209 864 219 753 215 221 230 501 Taxes and subsidies products 424 850 457 234 114 272 112 922 124 484 110 480 121 915 1Figures from 2022 onwards are prelimanry 2Gross domestic product is measured at market prices, while value added by industry is measured at basic prices 3Includes oil and gas extraction, transport via pipelines and ocean transport. Explanation of symbolsDownload table as ... - Final expenditure and gross domestic product. Quarter and year. At constant 2021-prices. NOK millionDownload table as ...Final expenditure and gross domestic product. Quarter and year. At constant 2021-prices. NOK million1
2022 2023 2nd quarter 2023 3rd quarter 2023 4th quarter 2023 1st quarter 2024 2nd quarter 2024 Final consumption expenditure of households and NPISHs 1 727 495 1 714 078 430 606 416 030 450 670 411 991 440 433 ¬ Household final consumption expenditure 1 625 287 1 610 625 405 322 392 650 423 412 386 125 414 485 ¬¬ Goods 781 498 741 548 188 022 176 845 200 670 173 377 191 252 ¬¬ Services 780 832 796 486 197 236 198 697 202 337 197 252 202 839 ¬¬ Direct purchases abroad by resident households 113 245 128 980 34 165 40 884 29 398 27 144 35 341 ¬¬ Direct purchases by non-residents -50 288 -56 388 -14 102 -23 776 -8 993 -11 648 -14 947 ¬ Final consumption expenditure of NPISHs 102 208 103 453 25 285 23 380 27 259 25 866 25 948 Final consumption expenditure of general governmen 981 460 1 014 586 251 877 254 568 259 260 256 938 259 285 ¬ Final consumption expenditure of central government 494 542 509 518 126 165 126 866 130 924 129 991 130 870 ¬¬¬ Central government, civilian 435 820 447 790 110 962 111 250 115 152 114 042 114 816 ¬¬¬ Central government, defence 58 722 61 728 15 203 15 616 15 771 15 949 16 054 ¬ Final consumption expenditure of local government 486 918 505 067 125 712 127 702 128 336 126 948 128 415 Gross fixed capital formation (GFCF) 1 044 012 1 043 918 257 412 257 981 283 119 226 254 251 161 ¬ Extraction and transport via pipelines (GFCF) 166 315 183 867 43 446 48 629 51 957 45 003 50 894 ¬ Ocean transport (GFCF) 16 764 9 355 909 2 350 4 846 594 1 658 ¬ Mainland Norway (GFCF) 860 870 850 696 213 058 207 002 226 316 180 657 198 609 ¬¬Næringer (bruttoinvestering) 420 582 437 442 112 951 110 559 106 014 94 684 107 805 ¬¬¬ Services activities incidential to extraction (GFCF) 4 791 5 374 1 398 1 250 1 610 1 549 1 799 ¬¬¬ Other services (GFCF) 294 708 297 372 78 330 76 828 66 674 64 287 72 379 ¬¬¬ Manufacturing and mining (GFCF) 54 322 62 990 14 848 14 256 19 039 14 324 14 903 ¬¬¬ Production of other goods (GFCF) 66 761 71 705 18 376 18 225 18 691 14 525 18 724 ¬¬ Dwelling service (households) (GFCF) 217 072 183 306 45 244 43 845 42 824 40 129 37 533 ¬¬ General government (GFCF) 223 217 229 948 54 863 52 598 77 478 45 844 53 271 Acquisitions less disposals of valuables 226 244 60 52 67 63 67 Changes in stocks and statistical discrepancies 127 459 110 383 16 813 4 600 12 168 65 604 22 969 Gross capital formation 1 171 696 1 154 546 274 285 262 634 295 354 291 922 274 197 Final domestic use of goods and services 3 880 651 3 883 210 956 768 933 232 1 005 284 960 851 973 915 Final demand from Mainland Norway (excl. changes in stocks) 3 569 825 3 579 360 895 541 877 600 936 246 849 586 898 327 Final demand from general government 1 204 677 1 244 534 306 740 307 166 336 738 302 782 312 556 Total exports 1 944 590 1 972 655 483 717 484 953 513 703 490 924 517 104 ¬ Traditional goods (export) 481 077 510 597 123 654 124 688 136 609 114 817 122 882 ¬ Crude oil and natural gas (export) 994 142 983 687 234 112 231 261 263 596 264 554 259 579 ¬ Ships, oil platforms and aircraft (export) 11 048 5 986 1 564 2 811 760 1 857 2 252 ¬ Services (export) 458 322 472 385 124 387 126 193 112 739 109 696 132 391 Total use of goods and services 5 825 241 5 855 865 1 440 485 1 418 186 1 518 987 1 451 775 1 491 019 Total imports 1 371 348 1 380 609 358 985 343 947 343 750 317 678 363 603 ¬ Tradisjonelle varer (import) 843 366 812 159 208 563 194 162 203 738 188 697 217 479 ¬ Crude oil and natural gas (import) 14 483 16 514 3 369 4 229 4 051 3 086 2 714 ¬ Ships, oil platforms and aircraft (import) 24 707 24 002 10 018 6 178 3 580 4 104 5 190 ¬ Services (import) 488 793 527 933 137 035 139 378 132 382 121 792 138 219 Gross domestic product, market values2 4 453 892 4 475 256 1 081 500 1 074 239 1 175 237 1 134 097 1 127 416 Gross domestic product Mainland Norway, market values2 3 439 616 3 462 363 841 582 839 446 902 474 857 954 864 807 Petroleum activities and ocean transport 1 014 277 1 012 893 239 918 234 793 272 763 276 143 262 610 Gross domestic product Mainland Norway, basic values 3 002 125 3 030 883 734 607 735 305 787 167 756 813 757 667 ¬ Mainland Norway excluding general government (GDP) 2 244 804 2 261 489 542 483 543 426 592 357 562 342 561 230 ¬¬ Manufacturing and mining (GDP) 247 933 248 374 60 991 59 070 64 045 61 963 64 231 ¬¬ Production of other goods (GDP) 419 389 416 561 91 499 103 154 111 778 106 132 91 543 ¬¬ Service activities (GDP) 1 577 482 1 596 554 389 993 381 201 416 533 394 247 405 455 ¬ General government (GDP) 757 322 769 394 192 124 191 879 194 810 194 471 196 437 Taxes and subsidies products 437 490 431 480 106 976 104 141 115 307 101 141 107 140 1Figures from 2022 onwards are preliminary 2Gross domestic product is measured at market prices, while value added by industry is measured at basic prices Explanation of symbolsDownload table as ... - Final expenditure and gross domestic product. Quarter and year. Percentage change in volume from the same period in the previous yearDownload table as ...Final expenditure and gross domestic product. Quarter and year. Percentage change in volume from the same period in the previous year1
2022 2023 2nd quarter 2023 3rd quarter 2023 4th quarter 2023 1st quarter 2024 2nd quarter 2024 Final consumption expenditure of households and NPISHs 6.2 -0.8 -1.3 -1.0 -3.6 -1.1 2.3 ¬ Household final consumption expenditure 5.9 -0.9 -1.3 -1.0 -3.8 -0.8 2.3 ¬¬ Goods -3.8 -5.1 -4.4 -3.9 -8.3 -1.5 1.7 ¬¬ Services 10.2 2.0 0.6 1.1 0.7 -0.5 2.8 ¬¬ Direct purchases abroad by resident households 265.1 13.9 8.0 7.3 5.2 10.6 3.4 ¬¬ Direct purchases by non-residents 199.4 12.1 3.9 7.4 19.8 22.4 6.0 ¬ Final consumption expenditure of NPISHs 11.9 1.2 -0.7 -0.9 0.2 -6.0 2.6 Final consumption expenditure of general governmen 1.1 3.4 3.2 3.8 3.8 3.2 2.9 ¬ Final consumption expenditure of central government 2.7 3.0 2.6 2.9 2.9 3.5 3.7 ¬¬¬ Central government, civilian 2.5 2.7 2.4 2.4 2.5 3.3 3.5 ¬¬¬ Central government, defence 4.0 5.1 4.5 6.8 5.7 5.4 5.6 ¬ Final consumption expenditure of local government -0.5 3.7 3.8 4.7 4.7 2.9 2.2 Gross fixed capital formation (GFCF) 5.2 0.0 -0.1 0.0 0.0 -7.8 -2.4 ¬ Extraction and transport via pipelines (GFCF) -7.1 10.6 4.2 15.6 21.3 13.0 17.1 ¬ Ocean transport (GFCF) 25.9 -44.2 -71.0 49.5 -15.9 -52.4 82.4 ¬ Mainland Norway (GFCF) 7.6 -1.2 0.1 -3.5 -3.5 -11.6 -6.8 ¬¬ Industries (GFCF) 17.1 4.0 7.1 3.4 -1.5 -12.3 -4.6 ¬¬¬ Services activities incidential to extraction (GFCF) 146.8 12.2 -6.9 36.3 15.9 38.7 28.7 ¬¬¬ Other services (GFCF) 26.6 0.9 6.2 1.2 -7.3 -14.9 -7.6 ¬¬¬ Manufacturing and mining (GFCF) 15.2 16.0 11.6 8.9 15.8 -3.5 0.4 ¬¬¬ Production of other goods (GFCF) -13.6 7.4 8.9 7.4 4.6 -11.5 1.9 ¬¬ Dwelling service (households) (GFCF) -1.4 -15.6 -16.9 -16.7 -20.9 -21.9 -17.0 ¬¬ General government (GFCF) 1.3 3.0 3.7 -4.1 6.6 1.9 -2.9 Acquisitions less disposals of valuables 74.9 8.2 2.1 2.8 4.4 -2.5 12.0 Changes in stocks and statistical discrepancies 37.8 -13.4 13.4 -75.0 -64.7 -14.6 36.6 Gross capital formation 8.0 -1.5 0.7 -5.0 -7.0 -9.4 0.0 Final domestic use of goods and services 5.4 0.1 0.4 -0.9 -2.8 -2.7 1.8 Final demand from Mainland Norway (excl. changes in stocks) 5.1 0.3 0.3 -0.2 -1.6 -2.3 0.3 Final demand from general government 1.1 3.3 3.3 2.4 4.4 3.0 1.9 Total exports 4.5 1.4 3.2 -4.6 2.8 0.1 6.9 ¬ Traditional goods (export) -2.5 6.1 13.0 0.1 4.8 -8.6 -0.6 ¬ Crude oil and natural gas (export) 1.3 -1.1 -2.4 -6.4 3.5 3.9 10.9 ¬ Ships, oil platforms and aircraft (export) -45.0 -45.8 -34.7 -46.9 -55.8 118.1 44.0 ¬ Services (export) 25.1 3.1 6.2 -4.1 -0.3 0.6 6.4 Total use of goods and services 5.1 0.5 1.3 -2.2 -1.0 -1.8 3.5 Total imports 12.5 0.7 4.7 -3.0 -5.6 -4.9 1.3 ¬ Tradisjonelle varer (import) 3.4 -3.7 0.5 -7.2 -10.1 -8.3 4.3 ¬ Crude oil and natural gas (import) -26.3 14.0 -14.8 25.5 -7.1 -36.6 -19.4 ¬ Ships, oil platforms and aircraft (import) -34.1 -2.9 102.4 20.9 -42.1 -2.9 -48.2 ¬ Services (import) 41.2 8.0 8.6 1.9 4.2 2.2 0.9 Gross domestic product, market values2 3.0 0.5 0.3 -2.0 0.4 -0.9 4.2 Gross domestic product Mainland Norway, market values2 3.7 0.7 0.2 -0.2 -0.3 -2.4 2.8 Petroleum activities and ocean transport3 0.6 -0.1 0.3 -7.8 2.8 4.0 9.5 Gross domestic product Mainland Norway, basic values 4.0 1.0 0.7 0.0 -0.1 -2.2 3.1 ¬ Mainland Norway excluding general government (GDP) 4.4 0.7 0.4 -0.2 -0.5 -3.6 3.5 ¬¬ Manufacturing and mining (GDP) -0.5 0.2 -0.3 -0.6 0.4 -3.6 5.3 ¬¬ Production of other goods (GDP) 0.7 -0.7 -1.0 -0.7 -0.8 -3.6 0.0 ¬¬ Service activities (GDP) 6.2 1.2 0.8 0.0 -0.5 -3.6 4.0 ¬ General government (GDP) 3.0 1.6 1.7 0.6 1.2 2.0 2.2 Taxes and subsidies products 1.9 -1.4 -3.0 -1.8 -1.7 -3.7 0.2 1Figures from 2022 onwards are prelimanry 2Gross domestic product is measured at market prices, while value added by industry is measured at basic prices. 3Includes oil and gas extraction, transport via pipelines and ocean transport. Explanation of symbolsDownload table as ... - Final expenditure and gross domestic product. Quarter and year. Percentage change in prices from the same period in the previous yearDownload table as ...Final expenditure and gross domestic product. Quarter and year. Percentage change in prices from the same period in the previous year1
2022 2023 2nd quarter 2023 3rd quarter 2023 4th quarter 2023 1st quarter 2024 2nd quarter 2024 Final consumption expenditure of households and NPISHs 5.1 6.7 7.8 6.4 5.5 4.8 3.0 ¬ Household final consumption expenditure 5.3 6.8 8.0 6.5 5.4 4.8 3.0 ¬¬ Goods 6.4 5.6 7.3 4.2 3.5 3.5 2.0 ¬¬ Services 4.1 6.3 6.4 6.7 6.3 5.6 4.5 ¬¬ Direct purchases abroad by resident households 9.0 15.9 19.8 14.9 13.3 6.2 1.2 ¬¬ Direct purchases by non-residents 10.3 5.3 5.1 4.7 5.6 4.4 4.2 ¬ Final consumption expenditure of NPISHs 1.9 5.6 5.1 5.1 6.9 5.0 2.0 Final consumption expenditure of general governmen 5.7 4.6 3.6 4.5 6.8 4.5 4.0 ¬ Final consumption expenditure of central government 5.3 5.1 4.6 4.7 7.1 4.5 4.7 ¬¬¬ Central government, civilian 4.9 5.0 4.6 4.7 7.4 4.3 4.4 ¬¬¬ Central government, defence 8.3 5.8 4.9 4.6 5.3 5.7 6.3 ¬ Final consumption expenditure of local government 6.1 4.1 2.7 4.2 6.4 4.5 3.4 Gross fixed capital formation (GFCF) 7.6 6.5 6.9 5.6 5.6 4.9 5.0 ¬ Extraction and transport via pipelines (GFCF) 6.4 10.5 10.6 10.3 9.7 7.1 7.0 ¬ Ocean transport (GFCF) 11.6 8.8 20.3 -2.8 6.5 13.8 -4.4 ¬ Mainland Norway (GFCF) 7.8 5.7 6.2 4.7 4.7 4.2 4.3 ¬¬ Industries (GFCF) 7.2 6.4 6.9 5.5 5.6 4.5 4.5 ¬¬¬ Services activities incidential to extraction (GFCF) 7.8 8.6 9.4 8.0 7.0 6.0 5.3 ¬¬¬ Other services (GFCF) 6.8 6.1 6.6 5.1 5.4 4.3 4.3 ¬¬¬ Manufacturing and mining (GFCF) 7.7 7.1 7.8 6.5 6.2 5.2 4.4 ¬¬¬ Production of other goods (GFCF) 8.6 6.8 7.4 6.0 5.1 4.5 4.6 ¬¬ Dwelling service (households) (GFCF) 8.5 4.5 4.9 3.3 3.3 3.6 4.2 ¬¬ General government (GFCF) 8.3 5.2 5.8 4.4 4.3 4.0 4.1 Acquisitions less disposals of valuables 4.1 9.6 10.8 9.4 6.9 8.6 8.9 Changes in stocks and statistical discrepancies -10.4 31.1 269.7 75.2 30.6 11.6 1.6 Gross capital formation 5.7 8.7 11.5 6.3 7.4 6.4 4.8 Final domestic use of goods and services 5.4 6.8 7.8 5.8 6.3 5.2 3.8 Final demand from Mainland Norway (excl. changes in stocks) 5.9 5.9 6.3 5.4 5.6 4.5 3.6 Final demand from general government 6.2 4.7 4.0 4.4 6.2 4.4 4.0 Total exports 62.8 -24.7 -22.4 -40.0 -17.9 -16.1 -2.5 ¬ Traditional goods (export) 30.2 -0.4 -0.1 -6.0 -2.8 -3.1 -4.6 ¬ Crude oil and natural gas (export) 102.6 -40.1 -37.8 -59.2 -30.9 -28.8 -2.2 ¬ Ships, oil platforms and aircraft (export) 3.4 14.4 1.9 12.4 26.1 -13.0 3.6 ¬ Services (export) 12.0 5.1 2.2 6.7 6.7 4.1 0.6 Total use of goods and services 24.6 -6.9 -4.8 -16.9 -3.4 -2.8 1.6 Total imports 13.0 6.7 8.2 3.8 5.8 2.1 1.7 ¬ Tradisjonelle varer (import) 15.6 5.8 7.0 0.2 5.8 0.5 1.2 ¬ Crude oil and natural gas (import) 58.7 1.2 6.3 -1.4 1.6 -3.9 -12.5 ¬ Ships, oil platforms and aircraft (import) 10.6 12.1 15.4 9.7 4.5 -3.1 7.5 ¬ Services (import) 7.2 8.6 10.6 9.6 6.5 6.0 3.1 Gross domestic product, market values2 28.2 -10.6 -8.5 -22.3 -6.0 -4.2 1.6 Gross domestic product Mainland Norway, market values2 6.0 5.0 5.2 4.7 4.7 4.9 3.3 Petroleum activities and ocean transport3 103.3 -38.3 -36.7 -57.1 -28.0 -27.3 -4.1 Gross domestic product Mainland Norway, basic values 7.3 4.5 4.7 4.0 3.8 4.4 2.9 ¬ Mainland Norway excluding general government (GDP) 8.5 4.1 4.9 2.9 2.1 4.1 2.2 ¬¬ Manufacturing and mining (GDP) 17.1 9.9 10.2 15.7 0.6 3.0 -2.4 ¬¬ Production of other goods (GDP) 28.5 -8.2 -4.5 -21.5 -11.4 -0.1 -2.6 ¬¬ Service activities (GDP) 1.9 7.2 6.7 9.9 7.0 5.6 4.3 ¬ General government (GDP) 3.7 5.8 4.2 7.2 9.6 5.8 4.8 Taxes and subsidies products -2.9 9.1 8.7 10.0 11.1 8.7 6.5 1Figures from 2022 onwards are prelimanry 2Gross domestic product is measured at market prices, while value added by industry is measured at basic prices. 3Includes oil and gas extraction, transport via pipelines and ocean transport. Explanation of symbolsDownload table as ... - Final expenditure and gross domestic product. Quarter and year. Seasonally adjusted figures. At current prices. NOK millionDownload table as ...Final expenditure and gross domestic product. Quarter and year. Seasonally adjusted figures. At current prices. NOK million1
2022 2023 2nd quarter 2023 3rd quarter 2023 4th quarter 2023 1st quarter 2024 2nd quarter 2024 Final consumption expenditure of households and NPISHs 1 816 130 1 922 925 480 033 483 192 492 132 490 589 500 911 ¬ Household final consumption expenditure 1 712 018 1 811 633 452 653 455 253 463 647 462 386 473 144 ¬¬ Goods 831 470 833 448 209 404 206 739 214 255 209 809 217 455 ¬¬ Services 812 606 880 728 218 372 223 526 225 881 228 664 231 076 ¬¬ Direct purchases abroad by resident households 123 391 162 909 40 699 41 645 42 220 42 921 42 566 ¬¬ Direct purchases by non-residents -55 448 -65 452 -15 822 -16 656 -18 709 -19 008 -17 953 ¬ Final consumption expenditure of NPISHs 104 111 111 292 27 380 27 939 28 485 28 203 27 767 Final consumption expenditure of general governmen 1 037 454 1 121 856 275 996 283 107 292 039 291 909 295 839 ¬ Final consumption expenditure of central government 520 806 564 186 138 610 141 775 147 296 147 449 150 674 ¬¬¬ Central government, civilian 457 233 493 488 121 298 123 783 128 941 128 492 131 241 ¬¬¬ Central government, defence 63 573 70 697 17 312 17 992 18 355 18 957 19 434 ¬ Final consumption expenditure of local government 516 648 557 670 137 386 141 332 144 743 144 460 145 165 Gross fixed capital formation (GFCF) 1 123 852 1 196 536 297 381 298 313 307 070 284 545 304 824 ¬ Extraction and transport via pipelines (GFCF) 176 961 216 121 51 163 55 686 61 978 56 851 64 136 ¬ Ocean transport (GFCF) 18 713 11 362 1 191 2 743 6 055 749 2 089 ¬ Mainland Norway (GFCF) 928 178 969 053 245 028 239 884 239 038 226 945 238 599 ¬¬ Industries (GFCF) 451 013 499 330 127 843 125 876 119 951 115 700 127 334 ¬¬¬ Services activities incidential to extraction (GFCF) 5 164 6 290 1 493 1 613 1 850 1 937 2 077 ¬¬¬ Other services (GFCF) 314 825 337 193 87 772 85 842 78 090 76 153 84 420 ¬¬¬ Manufacturing and mining (GFCF) 58 496 72 658 17 578 17 611 19 642 18 064 18 415 ¬¬¬ Production of other goods (GFCF) 72 527 83 189 21 001 20 809 20 369 19 546 22 421 ¬¬ Dwelling service (households) (GFCF) 235 422 207 736 51 870 50 397 48 258 46 191 44 972 ¬¬ General government (GFCF) 241 744 261 988 65 315 63 611 70 829 65 054 66 293 Acquisitions less disposals of valuables 235 279 67 72 70 74 82 Changes in stocks and statistical discrepancies 114 248 129 720 34 978 60 682 -789 43 513 29 268 Gross capital formation 1 238 335 1 326 534 332 426 359 067 306 351 328 132 334 174 Final domestic use of goods and services 4 091 919 4 371 315 1 088 455 1 125 366 1 090 522 1 110 631 1 130 924 Final demand from Mainland Norway (excl. changes in stocks) 3 781 762 4 013 834 1 001 057 1 006 183 1 023 209 1 009 444 1 035 349 Final demand from general government 1 279 198 1 383 844 341 311 346 718 362 867 356 963 362 132 Total exports 3 165 766 2 419 630 615 899 519 028 621 942 584 760 633 693 ¬ Traditional goods (export) 626 475 662 160 169 952 159 831 167 684 154 903 156 913 ¬ Crude oil and natural gas (export) 2 014 399 1 194 085 306 776 218 171 308 353 283 767 326 474 ¬ Ships, oil platforms and aircraft (export) 11 419 7 078 1 819 3 043 1 087 2 142 2 714 ¬ Services (export) 513 473 556 307 137 351 137 983 144 818 143 948 147 591 Total use of goods and services 7 257 684 6 790 945 1 704 354 1 644 394 1 712 464 1 695 391 1 764 616 Total imports 1 549 495 1 664 444 424 919 410 537 419 007 412 516 430 600 ¬ Tradisjonelle varer (import) 975 008 993 279 252 741 242 737 248 574 244 316 259 253 ¬ Crude oil and natural gas (import) 22 984 26 521 6 203 6 907 6 386 4 247 4 955 ¬ Ships, oil platforms and aircraft (import) 27 337 29 784 12 471 7 531 4 407 5 057 6 943 ¬ Services (import) 524 166 614 861 153 503 153 362 159 640 158 895 159 449 Gross domestic product, market values 5 708 190 5 126 500 1 279 435 1 233 857 1 293 458 1 282 876 1 334 016 Gross domestic product Mainland Norway, market values 3 646 328 3 855 396 960 548 969 721 983 067 993 879 997 543 Petroleum activities and ocean transport2 2 061 862 1 271 104 318 888 264 136 310 391 288 997 336 473 Gross domestic product Mainland Norway, basic values 3 221 478 3 398 162 847 340 854 938 865 899 876 013 878 277 ¬ Mainland Norway excluding general government (GDP) 2 436 292 2 554 045 640 002 641 948 645 720 656 299 655 919 ¬¬ Manufacturing and mining (GDP) 290 250 319 661 81 514 82 066 79 024 81 062 81 496 ¬¬ Production of other goods (GDP) 538 952 491 190 125 605 116 762 120 596 126 185 119 486 ¬¬ Service activities (GDP) 1 607 089 1 743 194 432 883 443 120 446 100 449 052 454 937 ¬ General government (GDP) 785 187 844 118 207 339 212 990 220 179 219 714 222 358 Taxes and subsidies products 424 850 457 234 113 207 114 783 117 168 117 866 119 266 1Figures from 2022 onwards are prelimanry 2Includes oil and gas extraction, transport via pipelines and ocean transport. Explanation of symbolsDownload table as ... - Final expenditure and gross domestic product. Quarter and year. Seasonally adjusted figures. Percentage change in volume from the previous period.Download table as ...Final expenditure and gross domestic product. Quarter and year. Seasonally adjusted figures. Percentage change in volume from the previous period.1
2022 2023 2nd quarter 2023 3rd quarter 2023 4th quarter 2023 1st quarter 2024 2nd quarter 2024 Final consumption expenditure of households and NPISHs 6.2 -0.8 0.2 0.0 0.5 -0.7 1.5 ¬ Household final consumption expenditure 5.9 -0.9 0.2 -0.1 0.6 -0.6 1.6 ¬¬ Goods -3.8 -5.1 -0.4 -0.8 2.1 -2.1 2.9 ¬¬ Services 10.2 2.0 0.6 0.7 0.1 0.3 -0.1 ¬¬ Direct purchases abroad by resident households 265.1 13.9 2.3 1.4 -1.0 3.1 0.1 ¬¬ Direct purchases by non-residents 199.4 12.1 2.4 5.2 10.0 0.9 -7.1 ¬ Final consumption expenditure of NPISHs 11.9 1.2 0.2 0.6 0.1 -1.7 0.0 Final consumption expenditure of general governmen 1.1 3.4 1.0 1.0 1.0 0.3 0.7 ¬ Final consumption expenditure of central government 2.7 3.0 0.7 0.9 1.4 0.5 0.9 ¬¬¬ Central government, civilian 2.5 2.7 0.6 0.7 1.5 0.5 0.9 ¬¬¬ Central government, defence 4.0 5.1 1.4 2.2 0.9 0.8 1.6 ¬ Final consumption expenditure of local government -0.5 3.7 1.2 1.0 0.6 0.1 0.4 Gross fixed capital formation (GFCF) 5.2 0.0 -0.3 -0.2 0.8 -7.6 5.1 ¬ Extraction and transport via pipelines (GFCF) -7.1 10.6 5.7 8.6 7.9 -9.2 10.0 ¬ Ocean transport (GFCF) 25.9 -44.2 -29.3 162.1 106.6 -87.5 170.2 ¬ Mainland Norway (GFCF) 7.6 -1.2 -1.3 -2.6 -2.0 -5.4 3.5 ¬¬ Industries (GFCF) 17.1 4.0 0.0 -2.2 -5.6 -4.5 8.2 ¬¬¬ Services activities incidential to extraction (GFCF) 146.8 12.2 10.3 7.5 12.3 3.7 5.0 ¬¬¬ Other services (GFCF) 26.6 0.9 1.1 -2.6 -9.7 -3.9 9.1 ¬¬¬ Manufacturing and mining (GFCF) 15.2 16.0 -3.6 -0.9 8.8 -7.3 0.5 ¬¬¬ Production of other goods (GFCF) -13.6 7.4 -2.2 -2.5 -2.0 -4.7 12.0 ¬¬ Dwelling service (households) (GFCF) -1.4 -15.6 -9.7 -3.4 -5.4 -5.9 -3.1 ¬¬ General government (GFCF) 1.3 3.0 3.9 -2.8 7.8 -6.6 -0.1 Acquisitions less disposals of valuables 74.9 8.2 -8.9 -1.6 -4.1 11.0 6.0 Changes in stocks and statistical discrepancies 37.8 -13.4 -4.5 -34.8 -26.5 183.4 -45.8 Gross capital formation 8.0 -1.5 -0.8 -4.3 -1.4 3.9 -3.3 Final domestic use of goods and services 5.4 0.1 0.1 -1.1 0.1 0.9 -0.1 Final demand from Mainland Norway (excl. changes in stocks) 5.1 0.3 0.1 -0.4 0.1 -1.5 1.7 Final demand from general government 1.1 3.3 1.5 0.3 2.2 -1.0 0.5 Total exports 4.5 1.4 0.6 -1.6 3.4 -1.4 5.6 ¬ Traditional goods (export) -2.5 6.1 3.2 -2.8 3.0 -6.5 3.5 ¬ Crude oil and natural gas (export) 1.3 -1.1 -0.2 -1.0 4.5 -0.5 6.9 ¬ Ships, oil platforms and aircraft (export) -45.0 -45.8 83.7 79.8 -73.0 144.5 21.3 ¬ Services (export) 25.1 3.1 -1.0 -2.8 3.7 1.1 4.7 Total use of goods and services 5.1 0.5 0.3 -1.3 1.2 0.1 1.8 Total imports 12.5 0.7 1.8 -3.0 -0.3 -0.4 3.1 ¬ Tradisjonelle varer (import) 3.4 -3.7 -0.2 -2.1 -1.1 0.3 3.9 ¬ Crude oil and natural gas (import) -26.3 14.0 -21.9 17.0 -6.1 -32.1 21.6 ¬ Ships, oil platforms and aircraft (import) -34.1 -2.9 137.1 -38.3 -42.1 14.6 26.5 ¬ Services (import) 41.2 8.0 1.3 -2.4 3.3 -0.8 0.8 Gross domestic product, market values2 3.0 0.5 -0.2 -0.7 1.7 0.3 1.4 Gross domestic product Mainland Norway, market values2 3.7 0.7 0.1 0.0 0.3 0.1 0.1 Petroleum activities and ocean transport3 0.6 -0.1 -1.3 -3.2 6.6 0.9 5.6 Gross domestic product Mainland Norway, basic values 4.0 1.0 0.4 0.1 0.3 0.2 0.2 ¬ Mainland Norway excluding general government (GDP) 4.4 0.7 0.4 0.1 0.0 0.0 0.1 ¬¬ Manufacturing and mining (GDP) -0.5 0.2 0.0 0.2 0.2 0.6 0.7 ¬¬ Production of other goods (GDP) 0.7 -0.7 1.1 -0.3 -1.0 -0.1 -1.1 ¬¬ Service activities (GDP) 6.2 1.2 0.3 0.2 0.3 0.0 0.3 ¬ General government (GDP) 3.0 1.6 0.2 0.0 0.9 0.9 0.4 Taxes and subsidies products 1.9 -1.4 -1.5 -0.3 0.4 -1.0 -0.4 1Figures from 2022 onwards are prelimanry 2Gross domestic product is measured at market prices, while value added by industry is measured at basic prices. 3Includes oil and gas extraction, transport via pipelines and ocean transport. Explanation of symbolsDownload table as ...
More figures from this statistics
- 11721: Final expenditure and gross domestic product. Unadjusted and seasonally adjusted figures (monthly)
- 09171: Production account and income generation, by industry. Unadjusted and seasonally adjusted figures
- 09183: Gross fixed capital formation, by type and industry. Unadjusted and seasonally adjusted figures
- 09186: Final consumption expenditure. Unadjusted and seasonally adjusted figures
- 09175: Wages and employment, by industry. Unadjusted and seasonally adjusted figures
About the statistics
The national accounts provide an overview of the state and development in the Norwegian economy. Key figures are gross domestic product (GDP), consumption, gross investment, exports and imports, employment and wages, profitability in industries and productivity. 1st to 3rd quarter is published with monthly national accounts in May, August and November. 4th quarter will be published February the following year, figures for t-2 in August.
The information under «About the statistics» was last updated 23 February 2023.
See Concepts and definitions in national accounts for explanations.
Valuation
Registration of values: A transaction may be registered at different values, depending on under which circumstances it is registered. Different concepts regarding valuation are also relevant for the general aspect of registration (cf. cash values or accruals values, and other principles for the recording of statistical data). The transactions of variables in the national accounts follow the accrual principle. Thus, taxes and subsidies on production should be registered as accrued values and not as cash values as recorded in the government accounts.
In the description of the transaction of goods and services several price concepts are used. Output is valued at basic prices. Basic price is the price the seller receives, after corresponding taxes on the product are deducted (and subsidies added). The use categories, both intermediate consumption and final use, are valued at purchaser prices, that is the price the purchaser must pay. Exports are valued at fob (free on board), while imports are valued at cif (cost-insurance-freight).
The value added of an industry is "valued" at basic prices (calculated as output at basic prices less intermediate consumption at purchaser prices). The total value added of all the industries is also "valued" at basic prices.
GDP is "valued" at market prices, which means that taxes on products, including VAT, less subsidies on products are added to the total value added of the industries at basic prices.
The accounting system of the Norwegian national accounts is based on the international standards for national accounts, i.e. 2008 SNA and ESA 2010. The accounting system outlines the framework and contents for production of national accounts statistics. The level of detail in the classifications used for compilation of quarterly and preliminary annual national accounts are more aggregated than in that used for calculation of the annual national accounts.
In addition to accounting structure, the international standards give recommendations of groupings or classifications to be used in the national accounts:
Activity classification
The classification of Industries in the National Accounts follows the Norwegian Standard Industrial Classification (SN2007), which is based on NACE Rev.2. Several levels of aggregation have been introduced for publication and reporting purposes.
Classification of non-financial assets and gross fixed capital formation
Non-financial assets are classified by type of aggregates defined in 2008 SNA, such as fixed assets, inventories, valuables, and non-produced assets, including both tangible assets such as land, subsoil-assets, water resources etc., and intangible assets such as transferable contracts etc. Gross fixed capital formation is grouped by main type within building and construction, machinery and equipment and transportation equipment.
Product classification
The product classification used in the national accounts is based on the EU's standard product classification CPA - Statistical Classification of Products by Activity in the European Community. The CPA groups products by activities, i.e. it defines characteristic products within each activity and connects them to the activity classification NACE Rev.2. The annual accounts supply and use tables contain about 700 products, in addition to which some products are also incorporated purely for technical reasons. The system to elaborate preliminary annual and quarterly accounts contains about 90 products. The separation on products might to large extent be considered as a tool to balance the national account system and to undertake calculations in constants prices.
Classification of individual consumption by purpose
The classification of Consumption expenditure groups in the National Accounts is based on the international classification COICOP - Classification of Individual Consumption by Purpose, published by the UN.
Classification of the functions of government
The classification of the functions of government by purpose applies to all types of general government expenses, such as government final consumption expenditure, gross fixed capital formation, subsidies, property rents (i.e. expenses), capital transfers and other transfers for use in government financial accounts and in the national accounts. This classification is based on the international classification COFOG - Classification of the Functions of Government, published by the UN.
Classification of the purpose of non-profit institutions serving households (NPISH)
This is a minor purpose classification which applies to expenses of NPISHs. It is based on the international classification COPNI - Classification of the Purposes of the Non-Profit Institutions Serving Households, published by the UN.
Name: National accounts
Topic: National accounts and business cycles
Division for National Accounts
National level
The monthly national accounts (MNA) are published about 40 days after the end of the given month.
The quarterly national accounts (QNA) are published about 40 days after the end of the given quarter. Quarterly figures are calculated as the sum of three months (from monthly national accounts).
The first estimates of the preliminary year is published about 40 days after the end of the year.
Published figures are reported to Eurostat, the International Monetary Fund (IMF) and the Organisation for Economic Co-operation and Development (OECD).
Not relevant
The national accounts (NA) statistics are designed to provide a consistent and comprehensive survey of the overall national economy. The national accounts give both a summarised description of the economy as a whole and a detailed description of transactions between different parts of the Norwegian economy, and between Norway and the rest of the world. The national accounts also provide information on capital stocks and employment.
The first Norwegian national accounts based on modern principles were published by Statistics Norway in 1952. Annual series national accounts were calculated back to 1865 during the 1950th.
Final annual national accounts figures are based on all available final economic statistics and therefore take time to produce. The purpose of the quarterly national accounts is to provide updated information about short-term developments in the Norwegian economy based on an overall, consistent accounting system. Statistics Norway has produced and released quarterly national accounts (QNA) on a regular basis from 1953 but were not published at fixed intervals from the 1970s to the beginning of the 1980s. A new model for a QNA system was developed at the beginning of the 1980s and has been used since 1985, with some modifications.
National accounts are used as a tool to compare the economic situation in different countries, and therefore it is important that the national accounts in various countries are based on a common template. Staff involved in elaborating national accounts in Statistics Norway participated actively in developing international recommendations and concepts regarding national accounts. The first international standard for national accounts, 1953 System of National Accounts (1953 SNA), was published by UN in 1953.
From time to time adaptations or changes are made to the common international recommendations for national accounts. This requires corresponding changes in the construction of the Norwegian national accounts. At different time intervals, new source statistics are produced and indicate that parts of the national accounts figures need to be revised. Since one objective of the national accounts is to provide a picture of the development over time which is as correct as possible, it is not possible to introduce such changes from one year to another. With different time intervals, it will therefore be necessary to carry out major revisions of the national accounts figures, so-called main revisions, in order to introduce adaptations due to new international recommendations or introduce new levels based on new statistical sources. As part of these main revisions the time series are also revised so that the revised national accounts can give a consistent picture of the economic development over time.
In recent decades, Statistics Norway has carried out main revisions published in 1995, 2002, 2006, 2011 and 2014. The main purpose of main revision published in November 2014, was to incorporate updated international recommendations in 2008 SNA andESA 2010. Changes due to this main revision are described, among else, in the article Main revision 2014. Planned changes in the national accounts statistics. The publication History of national accounts in Norway. From free research to statistics regulated by law also provides more information about the history of national accounts in Norway, including main revisions. In the future main revisions of the national accounts normally will be carried out every five years.
Since the QNA are completely harmonised with the annual national accounts, it is also necessary to revise the QNA figures once the annual national accounts figures have been revised.
The quarterly figures are mostly used for observation and analysis of the current economic cycle. The QNA figures also serve as a basis for making forecasts of the future economic development, the government’s work with the national budget and other economic planning. In addition, the QNA contribute with material for research and development. Annual and quarterly national accounts are a useful tool for analyses of the economic development and structures in Norway. The national accounts are also used to compare the economy in different countries.
The annual and quarterly national accounts therefore have a wide group of users, from school pupils and students to public and private institutions that actively use the statistics in their analyses and investigation of economic structure and development. Active users include the Research Department in Statistics Norway, the Ministry of Finance, Norges Bank, international organisations such as the IMF, the OECD, the World Bank, the UN and Eurostat, resident and non-resident financial sector analysts, and the media.
No external users have access to the statistics and analyses before they are published and accessible simultaneously for all users on ssb.no at 08.00 am. Prior to this, a minimum of three months' advance notice is given in the Statistics Release Calendar. This is one of Statistics Norway’s key principles for ensuring that all users are treated equally.
The monthly figures are the basis for quarterly figures, quarterly figures are calculated as the sum of three months. Quarterly figures will be updated when publishing the third month in the quarter. This means that there may be deviations between the monthly and quarterly figures in the two months before the new quarter is calculated. The deviations will mainly apply to seasonally adjusted figures. In addition, the monthly publication includes a table showing rolling numbers for three and three months. The three-month growth is calculated by comparing a three-month period with the previous three-month period. For example, the volume change in the rolling table for July is given by comparing the period May-July with February-April. Figures for March, June, September and December will correspond to growth for a quarter.
All historical figures are consistent with both preliminary and final annual national accounts figures in fixed and current prices
The Norwegian Balance of Payments (BOP) is an integrated part of the Norwegian system of national accounts, and the BOP figures are fully consistent with other preliminary and final quarterly and annual national accounts figures. Furthermore, quarterly and annual national accounts figures are fully consistent and compatible with the institutional sector accounts. The regional national accounts, and various satellite accounts (environment, tourism, health, non-profit institutions, education) are consistent with the above mentioned national accounts statistics. Previous published figures from the regional accounts and various satellite accounts are, however, not revised as a part of main revision of the national accounts, so figures for previous years may not necessarily be compatible with updated NA time series.
As mentioned in the chapter "Production: Data sources and sampling", the national accounts are based on various statistical sources. The source statistics may not use the same definitions or groupings as used in the national accounts. As a result, figures in the source statistics may be adapted or corrected before being used in the national accounts. Published figures in the source statistics of certain industries may therefore not correspond to published figures in the national accounts.
Not relevant
Regulation (EU) No 549/2013 (ESA 2010).
The European Parliament and of the council of 21 May 2013 on the European system of national and regional accounts in the European Union (text with EEA relevance).
The coverage of the national accounts is defined by international guidelines in the 2008 System of National Accounts (2008 SNA), published by the UN, the OECD, the IMF, the World Bank, and the Commission of the European Communities, and theEuropean System of National and Regional Accounts (ESA 2010).
The total national economy, and the distinction between the national economy and foreign countries, is defined in terms of resident units. A unit is defined as a resident unit of the country when it has a centre of economic interest in the economic territory of the country - i.e. when it is involved in economic activities on this territory for an extended period of time (one year or more).
Two basic types of information are recorded in the national accounts: flows and stocks. Flows refer to actions and effects of events that take place within a given period of time, for example the output of an industry in one year. Stocks refer to positions at a certain point of time, for example the value of capital stock or the number of employed persons.
The national accounts consist of two main sets of tables; supply and use tables (SUT), also described as the real accounts, and the institutional sector accounts. The real accounts are based on local kind-of-activity units (KAUs), while the institutional sector accounts are based on institutional units. Institutional units are economic entities that are capable of owning goods and assets, of incurring liabilities and of engaging in economic activities and transactions with other units in their own right. An institutional unit contains one or more local kind-of-activity units (local KAUs). The local KAUs are classified by type of activity. An activity is characterised by an input of products, a production process and an output of products. All local KAUs engaged in the same or similar kind-of-activity constitute an industry.
The SUT at current and constant prices gives a structured overview of the supply (output and import) and use (final consumption, gross fixed capital formation, changes in inventories, export and intermediate consumption) of products (goods and services) in the economy. For each industry the value added is calculated as the difference between output and intermediate consumption. The value added in an industry can also be decomposed into compensation of employees, consumption of fixed capital, other taxes on production (net of subsidies) and operating surplus. The real accounts also give information on fixed assets, as well as wages, hours worked, full-time equivalent persons and employed persons by industry. Monthly national accounts does not include figures for employment etc..
Furthermore, the real accounts provide the basis for the calculation of the Gross Domestic Product (GDP) and other central macroeconomic measures. The annual growth in volume and price are calculated for most variables.
The non-financial sector accounts are based on institutional units. Institutional units are capable of providing a full set of accounts. The non-financial sector accounts describe all economic transactions in the various sectors. The accounts also provide information on the stocks financial and non-financial capital. Financial sector accounts are also based on institutional units. The institutional units are grouped in institutional sectors on the basis of their principal economic functions, behavior and objectives. The non-financial sector accounts are consistent with the real accounts. The further description of the national accounts covers the part of the national accounts that is based on the annual SUT (the real accounts).
The coverage of the preliminary annual and quarterly real accounts is the same as the final annual SUT
The accounting structure in the system that produces monthly, quarterly and preliminary annual figures (MNA) is, however, more aggregated than in the system that produces the final annual SUT. While the SUT in the annual accounts consists of about 130 industry groups and 700 product groups, the SUT in the MNA consists of about 80 industry groups and 120 product groups. The MNA and QNA system produces tables with seasonal adjusted figures for industries' value added, household consumption for aggregated consumption groups and for central macroeconomic measures. However, only tables for final expenditure and gross domestic product are published on a monthly basis, while the QNA contain more details.
The calculations of the annual real accounts are based on statistics from several different sources, such as the structural business statistics for manufacturing and other industries, accounting statistics for general government and enterprises, statistics for wages and earnings, external trade statistics, household consumer surveys and employment statistics. Some parts of the national accounts are compiled more or less directly from the source statistics, while other parts are based on calculations and estimates.
Monthly information is used for compiling monthly national accounts, such as the production index of industrial production, the index for retail sales, consumer price index, building statistics, producer price indices and much more. For some service industries where we lack explicit production indicators, monthly information about jobs, working days and absence is obtained from the A-ordning. For investments where we only have quarterly information, such as oil investments, quarterly figures are conventionally distributed by month. In the months before we get the so-called oil census, the development is used in the planned investment figures reported together with those performed for a quarter. In connection with the work on the QNA, quarterly information is incorporated and an update of the previous months is made. Quarterly national accounts will appear as the sum of the three months in the quarter.
The source statistics used to calculate national accounts are with a few exceptions produced by Statistics Norway.
Having the reporting responsibility to Eurostat, the Division for National Accounts occasionally documents the calculations for the final annual national accounts, see Norwegian National Accounts - GNI Inventory for ESA95.
In addition, there are a number of reports giving more detailed documentation of calculation of figures for various specific industry groups or other parts of the national accounts (mostly in Norwegian only).
The documentation report for the Quarterly national accounts gives an overview of central sources and methods used for quarterly accounts compilation. This will be updated in the autumn of 2018 to include monthly national accounts.
Compilation of the final annual real accounts
The annual national accounts are mainly based on statistics collected by other divisions in Statistics Norway. To some extent data produced by external suppliers are also used.
The process of compiling the final annual national accounts starts with the calculation of independent supply and use estimates for all goods and services at current prices. To some extent, source data are extracted directly from the databases and converted into national accounts codes and format. Other parts of the economy are based on more complex calculations, by means of different statistical sources and/or assessments.
The source data are critically evaluated and compared with alternative sources (for some parts of the economy). In some areas, the statistics have to be adjusted in order to satisfy the requirements of the national accounts. In areas where the statistics are incomplete, evaluations are essential. In the process of estimating national accounts data, estimated national accounts figures are critically evaluated and controlled in several steps.
Finally, supply and use for each of these goods and services are balanced using supplementary information and quality assessments of the various statistical sources. This results in integrated supply and use tables at current prices.
The figure below gives an outline of the calculation system for final annual national accounts figures. First, detailed figures are calculated and balanced in current prices. Then the system calculates figures in constant prices, based on the detailed current price figures and corresponding price indices. The deflation (current values being divided by price indices) takes place at the most detailed product level: A price index is allocated to each detailed product. The individual products are as price homogeneous as possible. Constant price figures in the annual national accounts are calculated using the price level of the previous year, which means that the base year is changed every
year.
The deflation approach has in fact two dimensions, (i) differentiated by main categories of supply and use (deflating output, imports, exports and implicitly for domestic use), and (ii) differentiated through valuation (deflating current values at basic prices by price indices and implicitly determining the other value components, including adjustments against values at purchaser prices). The method used to calculate constant figures is called double deflation, i.e. a separate deflation of output and intermediate consumption is carried out in order to arrive at value added at constant prices as a balancing item, based on a detailed input-output framework (supply and use tables).
Figure 1. The calculation system for final annual NA figures (Click)
For a more detailed documentation, see Norwegian National Accounts - GNI Inventory for ESA95.
Compilation of the MNA and QNA
The majority of the short-term statistics produced by Statistics Norway are transferred to the MNA system by use of a direct link to the relevant databases. The information in the data sources about growth is used more or less directly in the MNA system. Some other input data series in the MNA system, however, are based more or less on calculations and estimations, using various types of information from Statistics Norway and other sources. Quarterly figures are calculated as the sum of three months
The national accounts data for a specific month, quarter or year are revised in accordance with an ordinary publication and revision cycle. The quarterly figures within a specific year t become final 21 months later after the end of the year t. In addition, periodical main revisions generate revised figures.
In the process of calculating MNA or QNA figures for a specific month or quarter, the short-term statistics source data are critically evaluated and compared with alternative sources (for some parts of the economy). In some cases, the information in the source statistics must be adjusted in order to satisfy the requirements of the quarterly national accounts. In the process to estimate MNA data estimated MNA figures are critically evaluated and controlled in many steps.
Monthly process
The figure below gives an overview of the Norwegian MNA and QNA estimation process. The figure shows that the MNA system is based on two main pillars: a) The SUT for the (final) annual national accounts and b) short-term statistics.
Figure 2. The computing system in the Norwegian MNA/QNA
The main principle in the MNA system is that the national accounts figures for the current quarter are computed based on the development of short-term indicators and the current-price figures from the base year. The base year (t-2) is the latest calculated final version of the annual national accounts. The method is the same for most common variables: The value in the base year is given the same growth rate (percentage change) as in the appropriate indicator, or a grouping of different relevant indicators.
A simple projection method, based on the development in previous periods, is used if an indicator does not cover the whole period from the base year to the current quarter.
The indicator compilations are made in the indicator process (box 2 in the figure).
However, the indicator process alone does not give a complete harmonised account at current and constant prices. To calculate values for variables that are not calculated in the indicator compilations, and to harmonise the accounts, we use an input-output model (box 3 in the figure).
The input-output model includes a commodity-flow balance, a price input-output system and a set of equations for summaries and definitions. It now comprises over 12 000 equations in total. The input-output coefficients are calculated from the SUT in the base year. The variables calculated in the indicator compilations are transferred to the input-output model as exogenous variables. To calculate balanced accounts at current prices we need price indices on all supply and use categories. These are computed in the model by weighting together product price indices with the input-output coefficients as weights. Each product gets three different price indices, one for resident output delivered to the home market (to resident users), a second for import and a third for export.
The price index for an industry’s total output is then calculated as a weighted average of the price indices for the home and export market using the input-output coefficients as weights. The price indices of intermediate consumption, final consumption expenditure and gross fixed capital formation are calculated in a similar way, using the import and home market price indices and the input-output coefficients.
The model also calculates variables which are not covered by short-term statistics or other information and therefore not calculated in the indicator process. These calculations are based on simple assumptions. For instance, intermediate consumption for most industries at constant prices (the total except FISIM) is assumed to be a fixed proportion of total output for the relevant industry. The distribution of intermediate consumption (except FISIM) on different products at constant prices is also assumed to be the same as in the base year. The industries’ use of FISIM as intermediate consumption is supposed to equal the growth in total output of FISIM services. Output in the retail and wholesale trade activities in constant prices is assumed to follow the development of the use of the various goods in constant prices, such as household consumption, intermediate consumption and gross fixed capital formation of the various specific goods (that means supposed fixed margins).
Changes in stock of separate products are (for most products) calculated as the difference between the total supply and use of the product. As in the annual NA, the changes in stock may be adjusted if that seems reasonable after an evaluation of the figures.
The results are stored in the time series database (box 4 in the figure), which, among other things, provides the basis for different sets of tables (box 6). At the moment there are two different sets of tables (with seasonal unadjusted figures), sets for internal checks and analyses of data and more aggregated sets of data for publishing.
Process 1-4 describes how the quarterly seasonally unadjusted figures are estimated. The unadjusted figures are seasonally adjusted (box 5) using a seasonal adjustment program.
The method adopted to compile the MNA is highly mechanical. This applies to the update of variables in the national accounts based on short-term statistics as well as the balancing of commodities, the computation of indirect taxes and factor incomes and the overall balancing of the GDP and main aggregates. Technically, the data systems are programmed in FAME and TROLL (the latter is used for the input-output model only).
Checks and/or the evaluation of data are, however, performed in several steps. The MNA system offers a unique opportunity to compare different types of input data. The evaluation of the different sources is done in close contact with the relevant statistics divisions in Statistics Norway. A more thorough evaluation is being done when processing and publishing quarterly figures, while the monthly process is more automated and less profound. Therefore, only final expenditure and gross domestic product are published on a monthly basis while the quarterly accounts offer more details.
Quarterly figures are calculated as the total of three months at quarterly releases. Quarterly figures will be updated only when publishing the third month in the quarter. This means that there may be a mismatch between the monthly and quarterly figures in the interim months. This applies mainly to seasonally adjusted numbers. That is, when you get a new observation (new month), it will normally affect the seasonally adjusted figures back in time. We do not update the QNA numbers that have also been sent to international organizations before the next quarters release. At the same time, we show figures for three-month growth. This is calculated by comparing a three-month period with the previous three-month period. For example, the volume change in July is given by comparing the period May-July with February-April. Figures for March, June, September and December will correspond to growth for a quarter. This means that users may get a continuous update of the quarterly figures by looking at the monthly publication.
Annual process and alignment
The MNA system is updated with a new base year every year (i.e. the latest final version of the annual accounts). The database for the annual accounts (box 1a), as well as the base data and coefficients in the harmonisation model (box 3) are updated. At the same time, it is possible to implement new indicators, carry out changes in the input series and in the model, etc. Such changes are not carried out in an ordinary monthly or quarterly process.
The recalculation of the monthly accounts is carried out by distributing the annual figures between the months using the original monthly figures as keys. The recalculated monthly accounts will then add up to the annual accounts at constant and current prices.
The harmonisation is based on the principle that the differences between the monthly changes to the original and harmonised series shall be as small as possible. The monthly accounts should add up to the figures in the annual accounts.
When the base year is updated the MNA for that year is aligned automatically.
Reference year
All figures are published at current prices and (for most sizes) constant prices (i.e. the accounts also specify volume and price changes). Constant-price estimates in the national accounts are calculated based on the previous year's prices; i.e. the base year is changed every year. Subsequently, data on volume changes are constructed in terms of growth rates and corresponding implicit data on changes in prices. In parallel, time series of volume figures are constructed by using prices from a reference year. The constant-price estimates are consistent with the data on changes in volume in the series of growth rates. Since the chaining is carried out separately for all items, the table components do not, however, necessarily add up to the totals of the same table.
The publication Quarterly national accounts gives more information about sources, methods and the processes used to calculate quaterly NA figures. This will be updated in the autumn of 2018 to include monthly national accounts.
The methods and routines used to produce seasonally adjusted figures are described in the chapter About seasonal adjustment.
§ 2-6 of the Statistics Act states that data under no circumstances shall be published in such a way that they may be traced back to the supplier. This means that the general rule is not to publish data if there are fewer than three enterprises in an industry. In practice, this means that for some detailed industry categories, figures must be aggregated up to a more aggregated industry group before they can be published.
Consistent monthly time series will exist back to 2016. Consistent quarterly time series will exist back to 1978 and annual time series back to 1970. Annual NA figures for the years 1865-1970 are based on the previous standards used for the national accounts and are not compatible with the up to date figures after the latest main revision of the NA.
Quarterly figures are calculated as the sum of three months. Quarterly figures will be updated only when publishing the third month in the quarter. This means that there may be mismatch between the monthly and quarterly figures in the interim months, see the description of the monthly process above.
Monthly figures, and thus quarterly figures, are aligned with the final annual national accounts figures, both in fixed and current prices. The other parts of the national accounts, such as income and capital accounts, and foreign accounts are also consistent and consistent with MNA.
The national accounts are based on various statistical sources. The sources are either survey data from establishments, enterprises or households, or data from registers. National accounts statistics reflect the inaccuracy in the statistical sources and the methods of compilation. Weaknesses and inaccuracy in the statistical sources are normally described in the documentation of the relevant sources.
Since the national accounts are an integrated system with balancing methods and consistency checks, the national accounts may reduce some of the inaccuracies in the statistical sources. On the other hand, national accounts require the compilation of statistics in areas where the sources are unsatisfactory, and the inaccuracy in such areas may therefore be significant. Some of the figures in the national accounts are estimated as residuals, and the uncertainty may be substantial in these areas. Examples are the compilation of changes in inventories and operating surplus by activity.
The EU Commission and Eurostat have completed a quality evaluation of the national accounts in all EEA countries. The conclusion was that "The Norwegian national accounts are of a high quality, soundly based on reliable and exhaustive sources, integrated in a system with a detailed product breakdown". (Report on the sources and methods used in compiling GNP in Norway, Eurostat/B1/CPNB/237/EN, 9 December 1997, Luxembourg.)
The International Monetary Fund (IMF) completed an evaluation of central parts of Norwegian macroeconomic statistics in autumn 2002, including the Norwegian national accounts. In the report IMF (2003), the Norwegian macroeconomic statistics, including the national accounts, got positive reviews: "In summary, Norway's macroeconomic statistics are of generally high quality." About the national accounts, the IMF also expressed that: "The source data for both the annual and the quarterly national accounts are generally sound and timely, and sufficiently portray reality."
The production of several of the sources that are used in the national accounts takes a considerable amount of time. Consequently, preliminary figures are more inaccurate than final figures.
In 2003, Statistics Norway carried out a project to evaluate the quality of the Norwegian QNA. The task of the project was to describe and evaluate the different processes in the system, and set up a plan for further work to improve quality. A project report was released in April 2004 (in Norwegian only). The report lists a variety of measures to increase quality, such as changes in the organisation of the QNA process, technical changes in the data system, an increase and improvement of the documentation related to the QNA system etc.
Another way of measuring the general quality of the QNA figures is to compare the preliminary annual figures from the first version of the annual accounts (by adding up the quarters in the QNA) with the final version. This was done in 2004. The article (in Norwegian only) looks at the growth rates of the main aggregates: GDP, GDP for mainland Norway, household consumption, government consumption, gross fixed capital formation, exports, imports and compensation of employees. For most variables, the study covers the years 1972-2002, while for some variables it covers the years 1993-2002. The study concludes that the preliminary figures generally had underestimated the growth rate in relation to the final figures, but that the overall picture did not differ too much.
The national accounts data for a specific month, quarter or year are revised in accordance with an ordinary publication and revision cycle. The monthly and quarterly figures within a specific year t have the status final 21 months after the end of the year. See Administrative information, Frequency and timeliness. In addition, periodical main revisions give revised figures. See Background and purpose. The table below shows the publication cycle for yearly and quarterly national accounts figures. In addition to what is stated in the table, monthly data will be published about 40 days after the end of the month. In May, year t (which coincides with the QNR for the first quarter), all months, also in year t-1, can be revised. After May year t, only the monthly figures for the current year are subject to revision.
| Publication cycle for quarterly and yearly national accounts figures | ||||
| Release date in: | 1st quarter year t | 2nd quarter year t | 3rd quarter year t | 4th quarter year t |
| May, year t | First preliminary version | Revised 3 for year t-1 | Revised 2 for year t-1 | Revised 1 for year t-1 |
| August, year t | Revised 1 Revised 5 for year t-1 Final for year t-2 | First preliminary version Revised 4 for year t-1 Final for year t-2 | Revised 3 for year t-1 Final for year t-2 | Revised 2 for year t-1 Final for year t-2 |
| November, year t | Revised 2 | Revised 1 | First preliminary version | Revised 3 for year t-1 |
| February, year t | Revised 3 for year t-1 | Revised 2 for year t-1 | Revised 1 | First preliminary version for year t-1 |
Goods sent abroad for processing and merchanting in the Norwegian national accounts. Notater (2015/02)
Process tables in the Norwegian national accounts. Notater (2015/03)
Improved treatment of insurance in the Norwegian national accounts. Notater (2015/04)
Changes in inventories in the Norwegian National Accounts - Accounting data as a source for changes in inventories. Notater (2017/13)
Quarterly national accounts - methods and sources of the quarterly national accounts compilations for Norway December 2013. Notater (2014/02)
Revised national accounts figures 1970-2010
History of national accounts in Norway - from free research to statistics regulated by law. Notater (113)
Norwegian National Accounts - GNI Inventory for ESA95
Norwegian methodology for supply and use tables and input-output tables. Notater (2009/8)
What is seasonal adjustment?
Monthly and quarterly time series are often characterised by considerable seasonal variations, which might complicate inter-period comparability. Such time series are therefore subjected to a process of seasonal adjustment in order to remove the effects of seasonal fluctuations. Once data have been adjusted for seasonal effects by X-12-ARIMA or some other seasonal adjustment tool, a clearer picture of the time series emerge.
For more information on seasonal adjustment, please refer to Statistics Norway’s: metadata on methods: seasonal adjustment.
Because of climatic conditions, public holidays and holidays in July and December, the intensity of the production varies throughout the year. The same applies to household consumption and other parts of the economy.
This makes a direct comparison of two consecutive months or quarters difficult. In order to adjust for these conditions, the quarterly national accounts are seasonally adjusted which makes it possible to conduct an analysis of the underlying change in economic activity between periods.
It is important to mention some factors of the seasonally adjustment of the MNA which has to be given specific attention compared to other short time economic indicators:
- The series for the main aggregates in the MNA is a result of aggregation of many components. Statistics Norway has chosen that consistency between the components and the main aggregates also applies to the seasonally adjusted series to make it easy to identify which series contribute the most to the results.
- Data may be exposed to some revisions each month as well as major revisions when the the preliminary national accounts are reconciled with final national accounts
Background information
- To seasonally adjust the GDP (and all other aggregates) we use an indirect method. This is done in order to be able to explain the contributions to GDP-growth, and consensus is that this is the preferred method for this kind of data. Please see chapter below for more details on the direct vs. indirect approach to seasonal adjustment.
- This method has given us some challenges related to the seasonally adjusted historical series. The reason is that series older than the base year are not additive. When a new base year is established, and the time series are updated, we use identical seasonal adjustment factors as before. This means that changes in seasonally adjusted data are only due to changes in the unadjusted data.
- We use information from the entire period of the time series to estimate seasonal adjustment factors, but we use this information only from the year before the base year to the present.
The method chosen is in accordance with the ESS-Guidelines on seasonal adjustment.
Seasonally adjusted series
Over a thousand series are seasonally adjusted every month. The series are adjusted at a disaggregated level and then summed up to the main aggregates.
The series for gross value added at industry level are adjusted directly, as opposed to being calculated as the difference between production and intermediate consumption.
For final consumption expenditure of households, the series are seasonally adjusted by applying the seasonal factors that are estimated for the index of household consumption of goods (see the documentation for seasonal adjustment of the index of household consumption of goods).
Pre-treatment routines/schemes
Pre-treatment is an adjustment for variations caused by calendar effects and outliers.
- We run a pre-treatment of some series/main series.
Calendar adjustment
Calendar adjustment involves adjusting for the effects of working days/trading days and for moving holidays. Working days/trading days adjustments are made for both the number of working days/trading days and for the varying composition of days from one month to another.
- It is performed calendar adjustments on all series showing significant and plausible calendar effects within a statistically robust approach, such as regression or RegARIMA (a regression model with an ARIMA structure for the residuals).
Methods for trading/working day adjustment
- RegARIMA correction – in this case, the effect of trading days is estimated in a RegArima framework. The effect of trading days can be estimated by using a correction for the length of the month or leap year, regressing the series on the number of working days, etc. In this case, the residuals will have an ARIMA structure.
Correction for moving holidays
- We run an automati correction with X-12-ARIMA. The utomatic correction of raw data will be based on Norwegian holidays.
National and EU/euro area calendars
- Use of the Norwegian calendar with X-12-ARIMA.
Treatment of outliers
Outliers, or extreme values, are abnormal values of the series
- Outliers are detected automatically by the seasonal adjustment tool. The outliers are removed before seasonal adjustment is carried out, and then reintroduced into the seasonally adjusted data.
Model selection
Pre-treatment requires choosing an ARIMA model, as well as deciding whether the data should be log-transformed or not.
Decomposition scheme
The decomposition scheme specifies how the various components – basically trend-cycle, seasonal and irregular – combine to form the original series. The most frequently used decomposition schemes are the multiplicative and additive.
- Manual selection of decomposition scheme after graphical inspection of the properties to the specific series.
Comments: Additive decomposition is used for series with (potential) negative values or values equal zero, otherwise multiplicative decomposition is used.
Choice of seasonal adjustment approach
- X-12-ARIMA
Consistency between raw and seasonally adjusted data
In some series, consistency between raw and seasonally adjusted series is imposed.
- No constraints are applied.
Consistency between aggregate/definition of seasonally adjusted data
In some series, consistency between seasonally adjusted aggregates and its components is imposed. For some series there is also a special relationship between the different series, e.g. GDP which equals production minus intermediate consumption.
- Definitions and relationships that hold for unadjusted figures also apply for seasonally adjusted figures.
Comments: The supply side equals the use side also for seasonally adjusted figures. This implies that changes in stocks/statistical discrepancies are treated as a residual in the seasonally adjusted figures (balancing item). The series for gross value added are adjusted directly (see chapter 1.3) and are not required to match the difference between seasonally adjusted series for production and intermediate consumption (thus, vertical – not horizontal – consistency is imposed).
Direct versus indirect approach
Direct seasonal adjustment is performed if all time series, including aggregates, are seasonally adjusted on an individual basis. Indirect seasonal adjustment is performed if the seasonally adjusted estimate for a time series is derived by combining the estimates for two or more directly adjusted series.
- Mixed indirect approach is applied
Comments: MNA uses aggregation routines outside X-12-ARIMA.
Horizon for estimating the model and the correction factors
When performing seasonal adjustment of a time series, it is possible to choose the period to be used in estimating the model and the correction factors. Correction factors are the factors used in the pre-treatment and seasonal adjustment of the series.
- The whole time series is used to estimate the model and the correction factors
General revision policy
Seasonally adjusted data may change due to a revision of the unadjusted (raw) data or the addition of new data. Such changes are called revisions, and there are several ways to deal with the problem of revisions when publishing the seasonally adjusted statistics.
- Seasonally adjusted numbers are revised in accordance with a well-defined and publicly available revision policy and release calendar.
Concurrent versus current adjustment
- The model, filters, outliers and regression parameters are re-identified and re-estimated as new or revised data become available.
Horizon for published revisions
- The individual series will be revised when seasonal factors are re-estimated. Concerning the main aggregates the period of revisions is limited from the base year to the present.
Comments: This applies as long as the unadjusted figures before the base year remains unchanged. When a new base year is established, and the time series are updated, we use identical seasonal adjustment factors as before. This means that changes in seasonally adjusted data are only due to changes in the unadjusted data.
Evaluation of seasonally adjustment data
- Continuous/periodical evaluation using standard measures proposed by different seasonal adjustment tools.
All series are sufficiently long to perform a seasonal adjustment.
Data availability
- Both unadjusted (raw), seasonally adjusted and sum rolling three months data are available.
Press releases
- In addition to raw data, at least one of the following series is released: pre-treated, seasonally adjusted, seasonally plus working day adjusted trend-cycle series.
- Both levels and growth rates are presented.
- Empirical values are presented to evaluate revisions of data in earlier press releases.
References
Statistics Norway’s metadata on methods: seasonal adjustment
The Committee for Monetary, Financial and Balance of Payments statistics: ESS-Guidelines on seasonal adjustment
EUROSTAT: Seasonal Adjustment. Methods and Practices
US census: X-12-ARIMA-manual
Analyses, articles and publications
Article / 22 August 2024Mainland economy at a standstill and high activity in oil and gas extractionMainland Norway's GDP increased 0.1 per cent in Q2 2024. High activity in the oil and gas extraction industry led to a 1.4 per cent increase in total GDP.
Artikkel / 9 June 2021Low activity in the Mainland Economy continues in AprilGDP in Mainland Norway increased 0.3 per cent in April, adjusted for seasonal variation. The growth follows a downturn lasting all three months of the 1st quarter of 2021.
Artikkel / 5 June 2019Revision of national accounts time seriesOn 29th August this year Statistics Norway will publish revised national accounts time series. Both the level and the growth rates of GDP are only to a minor extent affected by the revisions.
Artikkel / 16 April 2012Concepts and definitions in national accountsRead about important concepts and definitions in national accounts.
Artikkel / 15 May 2013Industries in the National AccountsMain categories of industries used in national accounts.
Article / 22 December 2023Supply and Use and Input-Output tablesThe supply and use tables give a statistical picture of total supply and total uses for all goods and services in the economy. The input-output tables are derived from the supply and use tables based on the assumption of a fixed product sales structure, and they show flows from each industry to other industries and to final uses.