Continued decreased growth in GDP volume rates
National accounts and business cycles
nr, Annual national accounts, gross domestic product, GDP, value added, GDP per capita, gross national income, export, import, wage costs, annual salary, man-labour years, man-hours, employees, capital stock, gross investments, household consumption, consumption in non-profit organisations, public consumption, material production, service production, input-output tables, oil investments, mainland NorwayNational accounts , National accounts and business cycles

Annual national accounts2001-2002

As of 16 May 2017 the statistics will be published as Quarterly national accounts.



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Continued decreased growth in GDP volume rates

The trend of diminishing volume growth of GDP for recent years continued in 2003 as well. Growth rates for 2001 and 2002 were higher than previously published.

Tables updated 8th June 2004. For comments on the revision see: Quarterly National Accounts

The 2003 volume growth of GDP of mainland Norway was up 0.7 percentage points from 2002. Volume growth of the total GDP was 0.3 per cent. These results are from new compilations of National Accounts 2003 . Volume growth of GDP 2001 is now estimated at 2.7 per cent, and the 2002 growth rate was 1.4 per cent. Volume growth of GDP of Mainland Norway is 2.1 per cent for 2001, while volume growth exceeded the growth rate of the total economy for 2002 (1.7 per cent).

Volume growth rates of GDP 1995-2003. Percentage change from previous year. Total and Mainland Norway

Volume growth rates for mainland Norway GDP have a more regular time profile than the growth rates of the total economy GDP. This is caused by the fact that growth rates of oil activities and ocean shipping have been more volatile. Volume GDP growth rates of mainland Norway show a nearly trend-like decrease since the peak year 1997, whereas the growth rates of Norway total increased from 1999 to 2000 as a consequence of developments in the oil extraction activities.

The number of employed persons decreased by 0.6 per cent for 2003, in contrast to small increases for 2001 and 2002 of 0.2 and 0.3 per cent respectively. In manufacturing industries the number of employed persons decreased by 4.6 per cent in 2003. The number of general government employees decreased by 0.5 per cent. Hours worked decreased by 1.2 per cent last year. Increased temporary absence and less overtime work contribute to this decrease. The growth in wage costs per man-year is estimated at 3.8 per cent in 2003. Wage costs per man-year increased by 5.1 per cent in 2001 and by 5,3 per cent in 2002.

National accounts figures for 2001 are now finalized. For most industries annual business structural statistics are implemented, and results from the new system of data collection of local government, KOSTRA, are introduced. Revisions of the 2002 accounts are mainly a consequence of following up the changes introduced in the 2001 accounts. Further, the basis of constant price calculations is shifted to 2001. Development from 2001 to 2002 has been reconsidered in view of preliminary structural business statistics for some industries. Beyond this, not many new statistics covering 2002 have become available since the previous publication.

Uncertainty of the estimates

The results for 2003, coming from the quarterly national accounts, use assessments based on basic data of varying quality. The 2002 accounts are still to be regarded as preliminary figures. The 2001 accounts are now finalized. A wider and more comprehensive set of basic data is available for the final accounts as compared to the preliminary accounts.