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statistikk
2018-05-15T08:00:00.000Z
National accounts and business cycles
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knr, National accounts, gross domestic product, GDP, value added, gross product by industry, gross investments, household consumption, consumption in non-profit organisations, public consumption, material production, service production, export, import, wage costs, employment, man-hours, oil investments, mainland NorwayNational accounts , National accounts and business cycles
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National accounts

Monthly national accounts will be published from 11 September 2018

Updated

Next update

Key figures

0.6 %

seasonally adjusted volume growth for GDP mainland Norway

Quarterly National Accounts. Seasonally adjusted change in volume from the previous period. Per cent1
201620173rd quarter 20174th quarter 20171st quarter 2018
1Figures from 2016 onwards are preliminary.
Gross domestic product1.11.90.7-0.30.6
Gross domestic product Mainland Norway1.01.90.70.70.6
Petroleum activities and ocean transport1.81.90.8-5.11.0
Final domestic use of goods and services2.72.50.12.20.1
Final consumption expenditure of households and NPISH1.52.50.70.90.0
Final consumption expenditure of general government2.12.20.50.50.6
Gross fixed capital formation (GFCF)-0.24.9-1.01.2-5.1
Total exports-1.81.1-0.5-2.80.4
Total imports2.32.8-2.54.1-1.3
 
Employed persons0.21.10.30.50.5
Total hours worked0.70.30.40.50.6

See more tables on this subject

Table 1 
Final expenditure and gross domestic product. At current prices. NOK million

Final expenditure and gross domestic product. At current prices. NOK million1
201620171st quarter 20172nd quarter 20173rd quarter 20174th quarter 20171st quarter 2018
1Figures from 2016 onwards are preliminary.
2Gross domestic product is measured at market prices, while value added by industry is measured at basic prices
3
Final consumption expenditure of households and NPISHs1 418 7001 477 181353 480368 810372 098382 794368 330
¬ Household final consumption expenditure1 342 7881 398 639333 419349 480353 532362 207347 839
¬¬ Goods615 478633 895147 200157 827155 622173 245152 613
¬¬ Services657 209690 389168 398173 230174 176174 585176 392
¬¬ Direct purchases abroad by resident households113 815119 15425 46230 67137 35225 66827 318
¬¬ Direct purchases by non-residents-43 715-44 798-7 641-12 248-13 618-11 291-8 484
¬ Final consumption expenditure of NPISHs75 91278 54320 06119 33018 56520 58620 491
Final consumption expenditure of general governmen757 571792 878192 517201 781197 378201 203202 093
¬ Final consumption expenditure of central government382 631396 94695 749100 54598 120102 531100 100
¬¬¬ Central government, civilian337 967351 76384 93688 81287 15790 85788 870
¬¬¬ Central government, defence44 66445 18310 81311 73310 96311 67411 230
¬ Final consumption expenditure of local government374 940395 93296 768101 23599 25798 672101 993
 
Gross fixed capital formation (GFCF)750 491794 196189 552201 239196 143207 263185 539
¬ Extraction and transport via pipelines (GFCF)164 890153 33436 22640 54836 28440 27532 146
¬ Ocean transport (GFCF)-1 7756 6063 5211 3241 812-51403
¬ Mainland Norway (GFCF)587 375634 256149 805159 366158 047167 038152 990
¬¬ Industries (GFCF)237 937254 72958 90762 33464 54268 94561 895
¬¬¬ Services activities incidential to extraction (GFCF)2 0522 6356663428138141 660
¬¬¬ Other services (GFCF)142 070153 41236 73538 56737 89540 21537 100
¬¬¬ Manufacturing and mining (GFCF)34 73132 9637 5097 5087 35710 5897 828
¬¬¬ Production of other goods (GFCF)59 08565 71913 99815 91718 47717 32615 307
¬¬ welling service (households) (GFCF)184 829203 44649 74851 27351 49750 92747 173
¬¬ General government (GFCF)164 609176 08141 14945 75942 00747 16643 922
Acquisitions less disposals of valuables36637796958610096
Changes in stocks and statistical discrepancies162 991154 51951 55127 65327 13548 18155 764
Gross capital formation913 847949 093241 199228 986223 364255 544241 399
 
Final domestic use of goods and services3 090 1183 219 152787 196799 577792 839839 541811 821
Final demand from Mainland Norway (excl. changes in stocks)2 763 6462 904 316695 802729 957727 522751 035723 412
Final demand from general government922 180968 959233 666247 539239 385248 369246 014
 
Total exports1 064 0501 170 237294 507284 679275 488315 564310 458
¬ Traditional goods (export)355 727381 21392 90894 34193 335100 629100 145
¬ Crude oil and natural gas (export)373 375459 459123 250106 407101 826127 976130 982
¬ Ships, oil platforms and aircraft (export)17 32313 5847 0082 8061 6242 1473 103
¬ Services (export)317 625315 98171 34181 12578 70384 81276 228
 
Total use of goods and services4 154 1684 389 3891 081 7031 084 2551 068 3271 155 1041 122 279
 
Total imports1 037 1361 090 384260 692273 821269 739286 132274 001
¬ Tradisjonelle varer (import)593 783635 947153 336157 785153 580171 246163 091
¬ Crude oil and natural gas (import)8 60813 5372 6863 7173 3603 7745 170
¬ Ships, oil platforms and aircraft (import)45 44050 02716 30313 6659 56810 49112 223
¬ Services (import)389 305390 87388 36798 654103 231100 62193 517
 
Gross domestic product, market values23 117 0323 299 005821 011810 434798 588868 972848 278
Gross domestic product Mainland Norway, market values22 717 3092 801 996688 923697 874688 720726 479704 872
 
Petroleum activities and ocean transport3399 723497 009132 088112 560109 868142 493143 406
Gross domestic product Mainland Norway, basic values2 358 7762 428 118601 201603 848594 836628 234613 677
¬ Mainland Norway excluding general government (GDP)1 772 3391 815 045453 194446 482442 300473 069458 414
¬¬ Manufacturing and mining (GDP)215 262222 06057 54855 71852 96855 82755 015
¬¬ Production of other goods (GDP)318 787337 10186 63776 25684 42089 78891 336
¬¬ Service activities (GDP)1 238 2901 255 883309 009314 508304 912327 454312 063
¬ General government (GDP)586 437613 072148 007157 366152 535155 164155 263
Taxes and subsidies products358 533373 87887 72294 02793 88498 24591 195

Table 2 
Final expenditure and gross domestic product. At constant 2015-prices. NOK million

Final expenditure and gross domestic product. At constant 2015-prices. NOK million1
201620171st quarter 20172nd quarter 20173rd quarter 20174th quarter 20171st quarter 2018
1Figures from 2016 onwards are preliminary
2Gross domestic product is measured at market prices, while value added by industry is measured at basic prices
Final consumption expenditure of households and NPISHs1 374 0691 408 883336 140350 843358 660363 240342 540
¬ Household final consumption expenditure1 300 1261 333 909316 531332 771340 455344 152322 984
¬¬ Goods591 644600 899139 420150 013148 463163 003140 896
¬¬ Services641 144661 745159 170165 236169 371167 968163 437
¬¬ Direct purchases abroad by resident households109 815113 84825 27529 20035 49023 88326 671
¬¬ Direct purchases by non-residents-42 477-42 583-7 334-11 678-12 869-10 701-8 019
¬ Final consumption expenditure of NPISHs73 94374 97419 60918 07218 20519 08819 556
Final consumption expenditure of general governmen744 881760 969187 858189 552191 545192 014192 045
¬ Final consumption expenditure of central government377 100381 50694 35894 93995 82496 38596 125
¬¬¬ Central government, civilian333 554337 97583 51984 08384 92085 45485 232
¬¬¬ Central government, defence43 54643 53110 84010 85710 90410 93110 892
¬ Final consumption expenditure of local government367 781379 46393 50094 61395 72195 62995 920
 
Gross fixed capital formation (GFCF)739 701775 712186 538195 440192 959200 775178 348
¬ Extraction and transport via pipelines (GFCF)167 624164 33238 25042 84040 02543 21734 256
¬ Ocean transport (GFCF)-1 6986 3203 4291 1821 762-53336
¬ Mainland Norway (GFCF)573 776605 060144 859151 418151 172157 611143 756
¬¬Næringer (bruttoinvestering)232 305243 65657 07959 23362 17265 17158 362
¬¬¬ Services activities incidential to extraction (GFCF)2 0102 5866533308137901 602
¬¬¬ Other services (GFCF)138 859146 74035 59736 61136 49838 03435 048
¬¬¬ Manufacturing and mining (GFCF)33 79431 4097 2427 1297 0699 9697 342
¬¬¬ Production of other goods (GFCF)57 64262 92113 58815 16217 79316 37814 370
¬¬ Dwelling service (households) (GFCF)180 689193 54448 04348 68048 91147 91044 182
¬¬ General government (GFCF)160 783167 86039 73643 50540 08944 53041 212
Acquisitions less disposals of valuables3583689490869895
Changes in stocks and statistical discrepancies162 296151 77950 32726 48727 68247 28253 764
Gross capital formation902 355927 859236 959222 017220 728248 155232 207
 
Final domestic use of goods and services3 021 3043 097 711760 957762 412770 933803 409766 792
Final demand from Mainland Norway (excl. changes in stocks)2 692 7262 774 912668 857691 813701 377712 865678 341
Final demand from general government905 663928 829227 594233 057231 634236 544233 257
 
Total exports1 154 8651 167 426290 872290 580287 242298 732287 260
¬ Traditional goods (export)343 695350 91585 71686 18486 82792 18888 283
¬ Crude oil and natural gas (export)464 491474 008124 379116 780115 817117 032118 474
¬ Ships, oil platforms and aircraft (export)16 75513 1836 8832 7011 5842 0153 024
¬ Services (export)329 923329 32073 89384 91483 01587 49777 479
 
Total use of goods and services4 176 1694 265 1361 051 8301 052 9921 058 1741 102 1401 054 052
 
Total imports1 024 0201 052 504255 786263 453263 297269 968255 987
¬ Tradisjonelle varer (import)585 418604 511148 005150 111148 036158 359148 867
¬ Crude oil and natural gas (import)9 79312 2842 5373 5133 1953 0394 015
¬ Ships, oil platforms and aircraft (import)44 12248 53815 96912 8519 55610 16211 211
¬ Services (import)384 688387 17189 27696 977102 51098 40891 894
 
Gross domestic product, market values23 152 1493 212 632796 043789 539794 877832 172798 065
Gross domestic product Mainland Norway, market values22 646 2212 696 970662 057663 914669 350701 650667 963
 
Petroleum activities and ocean transport505 928515 662133 986125 626125 527130 523130 102
Gross domestic product Mainland Norway, basic values2 295 0672 336 559575 722573 832578 548608 457581 066
¬ Mainland Norway excluding general government (GDP)1 715 5991 745 406429 852426 630429 597459 327431 772
¬¬ Manufacturing and mining (GDP)210 218210 76154 91351 91649 59254 34052 275
¬¬ Production of other goods (GDP)284 358293 11474 09666 15373 88778 97975 656
¬¬ Service activities (GDP)1 221 0241 241 530300 843308 560306 118326 009303 840
¬ General government (GDP)579 468591 153145 870147 202148 951149 130149 294
Taxes and subsidies products351 154360 41186 33590 08290 80293 19386 897

Table 3 
Final expenditure and gross domestic product. Percentage change in volume from the same period in the previous year

Final expenditure and gross domestic product. Percentage change in volume from the same period in the previous year1
201620171st quarter 20172nd quarter 20173rd quarter 20174th quarter 20171st quarter 2018
1Figures from 2016 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.
Final consumption expenditure of households and NPISHs1.52.52.41.82.83.11.9
¬ Household final consumption expenditure1.52.62.32.02.93.22.0
¬¬ Goods-0.11.60.90.32.52.51.1
¬¬ Services3.13.23.43.02.83.62.7
¬¬ Direct purchases abroad by resident households3.63.71.45.14.13.75.5
¬¬ Direct purchases by non-residents8.10.2-2.70.80.51.49.3
¬ Final consumption expenditure of NPISHs1.91.45.4-2.40.61.9-0.3
Final consumption expenditure of general governmen2.12.22.12.02.12.52.2
¬ Final consumption expenditure of central government2.31.20.91.11.11.61.9
¬¬¬ Central government, civilian2.61.31.21.31.21.72.1
¬¬¬ Central government, defence-0.10.0-1.1-0.30.40.80.5
¬ Final consumption expenditure of local government2.03.23.32.93.23.32.6
 
Gross fixed capital formation (GFCF)-0.24.97.55.52.64.2-4.4
¬ Extraction and transport via pipelines (GFCF)-16.9-2.0-3.5-0.4-7.03.0-10.4
¬ Ocean transport (GFCF)............-90.2
¬ Mainland Norway (GFCF)6.15.58.06.04.04.1-0.8
¬¬ Industries (GFCF)4.14.98.60.27.43.82.2
¬¬¬ Services activities incidential to extraction (GFCF)-58.028.7-26.7-14.8247.658.8145.3
¬¬¬ Other services (GFCF)5.35.712.62.13.15.6-1.5
¬¬¬ Manufacturing and mining (GFCF)8.1-7.1-6.0-14.0-4.8-3.91.4
¬¬¬ Production of other goods (GFCF)4.59.210.13.920.03.25.8
¬¬ Dwelling service (households) (GFCF)9.07.112.09.38.2-0.3-8.0
¬¬ General government (GFCF)5.94.42.611.0-5.29.83.7
Acquisitions less disposals of valuables2.82.97.8-1.71.44.10.8
Changes in stocks and statistical discrepancies37.6-6.510.3-44.1-7.520.26.8
Gross capital formation5.02.88.0-4.61.26.9-2.0
 
Final domestic use of goods and services2.72.54.0-0.12.14.10.8
Final demand from Mainland Norway (excl. changes in stocks)2.63.13.52.72.83.21.4
Final demand from general government2.82.62.23.60.83.82.5
 
Total exports-1.81.10.42.53.6-1.8-1.2
¬ Traditional goods (export)-8.22.1-1.2-2.32.210.03.0
¬ Crude oil and natural gas (export)4.32.00.56.38.8-6.0-4.7
¬ Ships, oil platforms and aircraft (export)45.6-21.3229.5-1.6-46.0-77.6-56.1
¬ Services (export)-4.4-0.2-4.32.60.10.64.9
 
Total use of goods and services1.42.13.00.62.52.40.2
 
Total imports2.32.84.52.0-0.25.00.1
¬ Tradisjonelle varer (import)-0.43.35.50.51.85.20.6
¬ Crude oil and natural gas (import)-10.225.4-5.447.211.463.658.3
¬ Ships, oil platforms and aircraft (import)26.410.087.324.1-28.3-14.7-29.8
¬ Services (import)4.80.6-4.30.70.26.02.9
 
Gross domestic product, market values21.11.92.50.13.51.60.3
Gross domestic product Mainland Norway, market values21.01.93.0-0.32.12.80.9
 
Petroleum activities and ocean transport31.81.90.22.211.2-4.4-2.9
Gross domestic product Mainland Norway, basic values0.71.82.9-0.52.02.90.9
¬ Mainland Norway excluding general government (GDP)0.21.73.2-1.32.03.10.4
¬¬ Manufacturing and mining (GDP)-4.10.34.6-5.2-0.32.0-4.8
¬¬ Production of other goods (GDP)2.73.14.1-0.23.54.62.1
¬¬ Service activities (GDP)0.41.72.8-0.92.02.91.0
¬ General government (GDP)2.32.01.92.12.02.22.3
Taxes and subsidies products2.52.63.71.23.32.40.7

Table 4 
Final expenditure and gross domestic product. Percentage change in prices from the same period in the previous year

Final expenditure and gross domestic product. Percentage change in prices from the same period in the previous year1
201620171st quarter 20172nd quarter 20173rd quarter 20174th quarter 20171st quarter 2018
1Figures from 2016 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.
Final consumption expenditure of households and NPISHs3.21.51.51.81.41.52.3
¬ Household final consumption expenditure3.31.51.51.81.31.52.2
¬¬ Goods4.01.43.21.70.60.52.6
¬¬ Services2.51.81.12.32.01.72.0
¬¬ Direct purchases abroad by resident households3.61.0-5.10.21.97.41.7
¬¬ Direct purchases by non-residents2.92.23.02.32.01.81.5
¬ Final consumption expenditure of NPISHs2.72.01.42.52.51.92.4
Final consumption expenditure of general governmen1.72.42.62.62.71.82.7
¬ Final consumption expenditure of central government1.52.52.52.73.21.82.6
¬¬¬ Central government, civilian1.32.72.72.83.51.92.5
¬¬¬ Central government, defence2.61.20.51.61.11.53.4
¬ Final consumption expenditure of local government1.92.32.72.62.21.92.7
 
Gross fixed capital formation (GFCF)1.50.90.80.90.71.32.4
¬ Extraction and transport via pipelines (GFCF)-1.6-5.1-5.4-6.0-5.8-3.5-0.9
¬ Ocean transport (GFCF)4.50.0-6.57.8-4.6-6.017.1
¬ Mainland Norway (GFCF)2.42.42.32.72.12.52.9
¬¬ Industries (GFCF)2.42.11.62.71.72.32.8
¬¬¬ Services activities incidential to extraction (GFCF)2.1-0.2-0.41.5-0.70.91.7
¬¬¬ Other services (GFCF)2.32.22.03.01.72.02.6
¬¬¬ Manufacturing and mining (GFCF)2.82.11.52.22.02.62.8
¬¬¬ Production of other goods (GFCF)2.51.90.82.31.82.73.4
¬¬ Dwelling service (households) (GFCF)2.32.83.02.92.42.93.1
¬¬ General government (GFCF)2.42.52.62.52.22.32.9
Acquisitions less disposals of valuables2.10.30.71.12.6-2.6-1.2
Changes in stocks and statistical discrepancies0.41.4-0.33.60.02.71.3
Gross capital formation1.31.00.61.40.61.52.1
 
Final domestic use of goods and services2.31.61.41.91.51.62.3
Final demand from Mainland Norway (excl. changes in stocks)2.62.01.92.21.91.82.5
Final demand from general government1.82.52.62.62.61.92.7
 
Total exports-7.98.813.37.95.09.26.7
¬ Traditional goods (export)3.55.07.26.63.72.34.7
¬ Crude oil and natural gas (export)-19.620.633.417.311.121.711.6
¬ Ships, oil platforms and aircraft (export)3.4-0.3-3.90.3-1.94.00.8
¬ Services (export)-3.7-0.3-3.30.21.00.61.9
 
Total use of goods and services-0.53.54.53.42.43.63.5
 
Total imports1.32.30.12.52.24.25.0
¬ Tradisjonelle varer (import)1.43.71.93.83.35.65.7
¬ Crude oil and natural gas (import)-12.125.433.923.614.826.921.6
¬ Ships, oil platforms and aircraft (import)3.00.1-3.03.20.0-1.26.8
¬ Services (import)1.2-0.2-3.30.00.41.82.8
 
Gross domestic product, market values2-1.13.86.03.62.43.43.1
Gross domestic product Mainland Norway, market values22.71.21.91.71.10.11.4
 
Petroleum activities and ocean transport3-21.022.032.818.314.223.311.8
Gross domestic product Mainland Norway, basic values2.81.12.01.61.1-0.21.1
¬ Mainland Norway excluding general government (GDP)3.30.71.71.20.4-0.60.7
¬¬ Manufacturing and mining (GDP)2.42.93.24.52.11.70.4
¬¬ Production of other goods (GDP)12.12.67.55.32.2-3.53.2
¬¬ Service activities (GDP)1.4-0.3-0.1-0.3-0.3-0.30.0
¬ General government (GDP)1.22.52.92.73.01.32.5
Taxes and subsidies products2.11.61.02.51.21.83.3

Table 5 
Final expenditure and gross domestic product. Seasonally adjusted figures. At current prices. NOK million

Final expenditure and gross domestic product. Seasonally adjusted figures. At current prices. NOK million1
201620171st quarter 20172nd quarter 20173rd quarter 20174th quarter 20171st quarter 2018
1Figures from 2016 onwards are preliminary
2Includes oil and gas extraction, transport via pipelines and ocean transport.
Final consumption expenditure of households and NPISHs1 418 7001 477 181362 619368 168370 981376 373377 624
¬ Household final consumption expenditure1 342 7881 398 639343 229348 729351 243356 447357 736
¬¬ Goods615 478633 895156 036158 283159 360161 398160 930
¬¬ Services657 209690 389169 539171 638173 303175 830177 927
¬¬ Direct purchases abroad by resident households113 815119 15428 22829 96630 16930 65830 395
¬¬ Direct purchases by non-residents-43 715-44 798-10 574-11 157-11 587-11 439-11 516
¬ Final consumption expenditure of NPISHs75 91278 54319 39019 44019 73819 92619 888
Final consumption expenditure of general governmen757 571792 878194 910195 956198 253203 826204 653
¬ Final consumption expenditure of central government382 631396 94697 26098 19099 016102 451101 604
¬¬¬ Central government, civilian337 967351 76386 17486 91287 76190 89890 094
¬¬¬ Central government, defence44 66445 18311 08611 27811 25511 55311 510
¬ Final consumption expenditure of local government374 940395 93297 65097 76699 237101 375103 048
 
Gross fixed capital formation (GFCF)750 491794 196195 998200 209197 645200 550192 787
¬ Extraction and transport via pipelines (GFCF)164 890153 33439 18739 30336 13438 65635 646
¬ Ocean transport (GFCF)-1 7756 6063 4531 3441 727146242
¬ Mainland Norway (GFCF)587 375634 256153 358159 562159 785161 749156 899
¬¬ Industries (GFCF)237 937254 72961 58562 56165 82264 85464 672
¬¬¬ Services activities incidential to extraction (GFCF)2 0522 6356663428138141 660
¬¬¬ Other services (GFCF)142 070153 41237 36038 87338 36138 91237 569
¬¬¬ Manufacturing and mining (GFCF)34 73132 9637 9307 8858 2868 9078 185
¬¬¬ Production of other goods (GFCF)59 08565 71915 62815 46018 36216 22217 259
¬¬ Dwelling service (households) (GFCF)184 829203 44650 51651 21051 79049 96048 438
¬¬ General government (GFCF)164 609176 08141 25745 79142 17346 93443 789
Acquisitions less disposals of valuables36637796958610096
Changes in stocks and statistical discrepancies162 991154 51935 35539 60934 54648 43751 657
Gross capital formation913 847949 093231 353239 818232 191248 987244 444
 
Final domestic use of goods and services3 090 1183 219 152788 882803 943801 425829 186826 721
Final demand from Mainland Norway (excl. changes in stocks)2 763 6462 904 316710 887723 687729 019741 948739 176
Final demand from general government922 180968 959236 167241 747240 427250 760248 442
 
Total exports1 064 0501 170 237288 744293 085290 251298 649308 180
¬ Traditional goods (export)355 727381 21391 20395 69796 56798 108100 983
¬ Crude oil and natural gas (export)373 375459 459115 494113 274113 371117 487123 690
¬ Ships, oil platforms and aircraft (export)17 32313 5847 1442 8091 5242 1223 206
¬ Services (export)317 625315 98174 90381 30678 78980 93280 301
 
Total use of goods and services4 154 1684 389 3891 077 6261 097 0281 091 6761 127 8351 134 901
 
Total imports1 037 1361 090 384263 874277 413267 851285 431281 450
¬ Tradisjonelle varer (import)593 783635 947153 358159 447158 125165 469168 321
¬ Crude oil and natural gas (import)8 60813 5372 7463 5823 0744 3875 273
¬ Ships, oil platforms and aircraft (import)45 44050 02716 33613 7559 50510 44912 228
¬ Services (import)389 305390 87391 433100 62997 147105 12595 627
 
Gross domestic product, market values3 117 0323 299 005813 752819 615823 825842 404853 451
Gross domestic product Mainland Norway, market values2 717 3092 801 996691 822697 599702 719711 460716 148
 
Petroleum activities and ocean transport2399 723497 009121 930122 016121 107130 944137 304
Gross domestic product Mainland Norway, basic values2 358 7762 428 118599 564604 528608 742616 539620 969
¬ Mainland Norway excluding general government (GDP)1 772 3391 815 045449 178452 875455 380458 803463 160
¬¬ Manufacturing and mining (GDP)215 262222 06055 86455 69355 19355 39855 592
¬¬ Production of other goods (GDP)318 787337 10182 45984 35185 82884 36788 553
¬¬ Service activities (GDP)1 238 2901 255 883310 855312 831314 359319 038319 015
¬ General government (GDP)586 437613 072150 386151 653153 362157 736157 809
Taxes and subsidies products358 533373 87892 25893 07193 97694 92295 179

Table 6 
Final expenditure and gross domestic product. Seasonally adjusted figures. At constant 2015-prices. NOK million

Final expenditure and gross domestic product. Seasonally adjusted figures. At constant 2015-prices. NOK million1
201620171st quarter 20172nd quarter 20173rd quarter 20174th quarter 20171st quarter 2018
1Figures from 2016 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.
Final consumption expenditure of households and NPISHs1 374 0691 408 883349 566351 519354 103357 193357 037
¬ Household final consumption expenditure1 300 1261 333 909330 806333 039335 248338 354338 261
¬¬ Goods591 644600 899149 506150 846151 504152 818151 189
¬¬ Services641 144661 745163 649164 421165 905167 588168 639
¬¬ Direct purchases abroad by resident households109 815113 84827 78828 47528 77628 72429 325
¬¬ Direct purchases by non-residents-42 477-42 583-10 137-10 702-10 937-10 776-10 892
¬ Final consumption expenditure of NPISHs73 94374 97418 76118 48018 85518 83818 776
Final consumption expenditure of general governmen744 881760 969188 657189 867190 775191 692192 856
¬ Final consumption expenditure of central government377 100381 50694 79495 18095 50496 05096 569
¬¬¬ Central government, civilian333 554337 97583 95484 30284 61885 12285 677
¬¬¬ Central government, defence43 54643 53110 84010 87810 88610 92710 892
¬ Final consumption expenditure of local government367 781379 46393 86494 68795 27295 64296 287
 
Gross fixed capital formation (GFCF)739 701775 712193 139194 758192 878195 166185 182
¬ Extraction and transport via pipelines (GFCF)167 624164 33241 58341 64438 74242 33137 634
¬ Ocean transport (GFCF)-1 6986 3203 3961 0901 689195235
¬ Mainland Norway (GFCF)573 776605 060148 160152 024152 446152 640147 313
¬¬ Industries (GFCF)232 305243 65659 73059 54262 98861 50561 002
¬¬¬ Services activities incidential to extraction (GFCF)2 0102 5866533308137901 602
¬¬¬ Other services (GFCF)138 859146 74036 11236 97036 83336 93135 351
¬¬¬ Manufacturing and mining (GFCF)33 79431 4097 6807 5447 8438 3757 671
¬¬¬ Production of other goods (GFCF)57 64262 92115 28614 69917 50015 40916 377
¬¬ Dwelling service (households) (GFCF)180 689193 54448 59948 87349 30046 79745 248
¬¬ General government (GFCF)160 783167 86039 83143 60940 15844 33841 063
Acquisitions less disposals of valuables3583689490869895
Changes in stocks and statistical discrepancies162 296151 77936 21135 12534 17544 69354 179
Gross capital formation902 355927 859229 350229 883227 053239 859239 361
 
Final domestic use of goods and services3 021 3043 097 711767 574771 269771 932788 744789 255
Final demand from Mainland Norway (excl. changes in stocks)2 692 7262 774 912686 384693 411697 325701 525697 207
Final demand from general government905 663928 829228 488233 476230 934236 030233 920
 
Total exports1 154 8651 167 426288 373296 989295 637287 261288 277
¬ Traditional goods (export)343 695350 91585 56487 61188 72188 96690 456
¬ Crude oil and natural gas (export)464 491474 008117 780122 267122 933111 970112 297
¬ Ships, oil platforms and aircraft (export)16 75513 1836 8572 7101 5772 0293 006
¬ Services (export)329 923329 32078 17284 40282 40784 29682 517
 
Total use of goods and services4 176 1694 265 1361 055 9471 068 2591 067 5691 076 0051 077 532
 
Total imports1 024 0201 052 504260 759264 943258 252268 903265 352
¬ Tradisjonelle varer (import)585 418604 511148 906151 390150 541153 816154 719
¬ Crude oil and natural gas (import)9 79312 2842 5633 3902 9453 6173 944
¬ Ships, oil platforms and aircraft (import)44 12248 53816 01512 9389 49110 11711 222
¬ Services (import)384 688387 17193 27597 22595 274101 35395 468
 
Gross domestic product, market values23 152 1493 212 632795 188803 316809 318807 102812 179
Gross domestic product Mainland Norway, market values22 646 2212 696 970667 946672 149677 131681 593685 470
 
Petroleum activities and ocean transport3505 928515 662127 241131 167132 187125 510126 709
Gross domestic product Mainland Norway, basic values2 295 0672 336 559578 449582 110586 071590 831595 028
¬ Mainland Norway excluding general government (GDP)1 715 5991 745 406431 753434 583437 921442 048444 896
¬¬ Manufacturing and mining (GDP)210 218210 76152 55952 78752 37953 26153 216
¬¬ Production of other goods (GDP)284 358293 11472 03772 74473 71074 64875 533
¬¬ Service activities (GDP)1 221 0241 241 530307 156309 052311 833314 139316 147
¬ General government (GDP)579 468591 153146 696147 527148 150148 783150 132
Taxes and subsidies products351 154360 41189 49890 03991 05990 76190 442

Table 7 
Final expenditure and gross domestic product. Seasonally adjusted figures. Percentage change in volume from the previous period.

Final expenditure and gross domestic product. Seasonally adjusted figures. Percentage change in volume from the previous period.1
201620171st quarter 20172nd quarter 20173rd quarter 20174th quarter 20171st quarter 2018
1Figures from 2016 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.
Final consumption expenditure of households and NPISHs1.52.51.00.60.70.90.0
¬ Household final consumption expenditure1.52.61.00.70.70.90.0
¬¬ Goods-0.11.60.70.90.40.9-1.1
¬¬ Services3.13.21.00.50.91.00.6
¬¬ Direct purchases abroad by resident households3.63.70.52.51.1-0.22.1
¬¬ Direct purchases by non-residents8.10.2-4.35.62.2-1.51.1
¬ Final consumption expenditure of NPISHs1.91.41.3-1.52.0-0.1-0.3
Final consumption expenditure of general governmen2.12.20.90.60.50.50.6
¬ Final consumption expenditure of central government2.31.20.30.40.30.60.5
¬¬¬ Central government, civilian2.61.30.30.40.40.60.7
¬¬¬ Central government, defence-0.10.00.00.40.10.4-0.3
¬ Final consumption expenditure of local government2.03.21.40.90.60.40.7
 
Gross fixed capital formation (GFCF)-0.24.93.30.8-1.01.2-5.1
¬ Extraction and transport via pipelines (GFCF)-16.9-2.01.10.1-7.09.3-11.1
¬ Ocean transport (GFCF)......-67.955.0-88.520.8
¬ Mainland Norway (GFCF)6.15.51.32.60.30.1-3.5
¬¬ Industries (GFCF)4.14.91.2-0.35.8-2.4-0.8
¬¬¬ Services activities incidential to extraction (GFCF)-58.028.731.2-49.5146.3-2.7102.7
¬¬¬ Other services (GFCF)5.35.73.82.4-0.40.3-4.3
¬¬¬ Manufacturing and mining (GFCF)8.1-7.1-11.7-1.84.06.8-8.4
¬¬¬ Production of other goods (GFCF)4.59.21.5-3.819.1-12.06.3
¬¬ Dwelling service (households) (GFCF)9.07.13.50.60.9-5.1-3.3
¬¬ General government (GFCF)5.94.4-1.09.5-7.910.4-7.4
Acquisitions less disposals of valuables2.82.90.6-4.2-4.813.5-2.6
Changes in stocks and statistical discrepancies37.6-6.5-3.9-3.0-2.730.821.2
Gross capital formation5.02.82.10.2-1.25.6-0.2
 
Final domestic use of goods and services2.72.51.30.50.12.20.1
Final demand from Mainland Norway (excl. changes in stocks)2.63.11.01.00.60.6-0.6
Final demand from general government2.82.60.52.2-1.12.2-0.9
 
Total exports-1.81.1-1.53.0-0.5-2.80.4
¬ Traditional goods (export)-8.22.15.92.41.30.31.7
¬ Crude oil and natural gas (export)4.32.0-1.33.80.5-8.90.3
¬ Ships, oil platforms and aircraft (export)45.6-21.3-24.0-60.5-41.828.748.1
¬ Services (export)-4.4-0.2-6.68.0-2.42.3-2.1
 
Total use of goods and services1.42.10.51.2-0.10.80.1
 
Total imports2.32.81.91.6-2.54.1-1.3
¬ Tradisjonelle varer (import)-0.43.31.71.7-0.62.20.6
¬ Crude oil and natural gas (import)-10.225.434.632.3-13.122.89.0
¬ Ships, oil platforms and aircraft (import)26.410.035.0-19.2-26.66.610.9
¬ Services (import)4.80.6-2.64.2-2.06.4-5.8
 
Gross domestic product, market values21.11.90.11.00.7-0.30.6
Gross domestic product Mainland Norway, market values21.01.90.70.60.70.70.6
 
Petroleum activities and ocean transport31.81.9-3.03.10.8-5.11.0
Gross domestic product Mainland Norway, basic values0.71.80.60.60.70.80.7
¬ Mainland Norway excluding general government (GDP)0.21.70.50.70.80.90.6
¬¬ Manufacturing and mining (GDP)-4.10.30.90.4-0.81.7-0.1
¬¬ Production of other goods (GDP)2.73.10.91.01.31.31.2
¬¬ Service activities (GDP)0.41.70.40.60.90.70.6
¬ General government (GDP)2.32.00.70.60.40.40.9
Taxes and subsidies products2.52.61.50.61.1-0.3-0.4

Table 8 
Revised figures of final expenditure and gross domestic product. Percentage change in volume

Revised figures of final expenditure and gross domestic product. Percentage change in volume
 1 st quarter 20172nd quarter 20173 rd quarter 20174 th quarter 2017
 Seasonally adjusted figuresUnadjusted figuresSeasonally adjusted figuresUnadjusted figuresSeasonally adjusted figuresUnadjusted figuresSeasonally adjusted figuresUnadjusted figures
 Percentage change in volume from the previous periodPercentage change in volume from the same period in the previous yearPercentage change in volume from the previous periodPercentage change in volume from the same period in the previous yearPercentage change in volume from the previous periodPercentage change in volume from the same period in the previous yearPercentage change in volume from the previous periodPercentage change in volume from the same period in the previous year
 New resultFormer resultNew resultFormer resultNew resultFormer resultNew resultFormer resultNew resultFormer resultNew resultFormer resultNew resultFormer resultNew resultFormer result
Gross domestic product (GDP)0.1-0.22.52.51.01.10.10.10.70.83.53.4-0.3-0.31.61.4
GDP Mainland Norway0.70.63.03.00.60.6-0.3-0.30.70.72.12.00.70.62.82.7
Household final consumtion expenditure1.00.72.32.10.70.92.01.90.70.62.92.70.90.83.22.8
Final consumption of general government0.90.62.11.80.60.52.01.60.50.72.12.00.50.52.52.4
Gross fixed capital formation3.31.97.54.40.81.45.54.7-1.0-0.92.61.61.21.64.23.5
Exports-1.5-0.90.40.63.02.02.52.0-0.5-0.83.63.3-2.8-2.6-1.8-2.2
Imports1.92.84.54.01.60.72.01.9-2.5-3.3-0.2-0.34.13.25.03.3

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.

Definitions

Definitions of the main concepts and variables

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.

 

Standard classifications

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.

Administrative information

Name and topic

Name: National accounts
Topic: National accounts and business cycles

Next release

Responsible division

Division for National Accounts

Regional level

National level.

Frequency and timeliness

The quarterly national accounts (QNA) are published about 45-50 days after the end of the given quarter. The accounts for the first quarter of the current year are published in May, together with revised figures for the previous year. Figures for the second quarter are published in August/September, together with revised figures for the first quarter and revised figures for the past two years. In this publication, the results for year t-2 are considered final. This update of previous years was earlier carried out in November. In November, the first figures for the third quarter are published together with revised figures for the first and second quarter Finally, figures for the fourth quarter are published in February the following year, together with revised figures for the first, second and third quarter.

 

 

International reporting

Published figures are reported to Eurostat, the International Monetary Fund (IMF) and the Organisation for Economic Co-operation and Development (OECD).

Microdata

Not relevant

Background

Background and purpose

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 and ESA 2010. Changes due to this main revision are described, among else, in the article Main revision 2014. Planned changes in the national accounts statistics. See About the statistics for the annual national accounts for more information about main revisions. 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.

Users and applications

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.

Equal treatment of users

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.

Coherence with other statistics

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) 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.

 

Legal authority

Not relevant

EEA reference

  • 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).

Production

Population

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 the European 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.

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 quarterly and preliminary annual figures (QNA) 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 QNA consists of about 60 industry groups and 80 product groups. However, the QNA system also produces tables with seasonal adjusted figures for industries' value added, household consumption for aggregated consumption groups and for central macroeconomic measures.

Data sources and sampling

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.

It takes time to produce some of the statistics used to calculate the final annual national accounts. Calculation of preliminary national accounts figures are therefore based on the structure in the last final annual national accounts and the development in appropriate short-time statistics.

The source statistics used to calculate national accounts are essentially 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.

Collection of data, editing and estimations

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 QNA

The majority of the short-term statistics produced by Statistics Norway are transferred to the QNA 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 QNA system. Some other input data series in the QNA system, however, are based more or less on calculations and estimations, using various types of information from Statistics Norway and other bodies.

The national accounts data for a specific quarter or a specific 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 QNA figures for a specific 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 QNA data estimated QNA figures are critically evaluated and controlled in many steps. Compilation of quarterly figures consists of an annual process, as well as the quarterly process

Quarterly process

The figure below gives an overview of the Norwegian QNA estimation process. The figure shows that the QNA 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 QNA

knr1-en

The main principle in the QNA 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 QNA 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 QNA 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.

Annual process and alignment

The QNA 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 quarterly process.

The recalculation of the quarterly accounts is carried out by distributing the annual figures between the quarters using the original quarterly figures as keys. The recalculated quarterly 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 quarterly changes to the original and harmonised series shall be as small as possible. The quarterly accounts should add up to the figures in the annual accounts.

When the base year is updated the QNA 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.

 

Seasonal adjustment

The methods and routines used to produce seasonally adjusted figures are described in the chapter About seasonal adjustment.

Confidentiality

§ 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.

Comparability over time and space

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.

Accuracy and reliability

Sources of error and uncertainty

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.

 

Revision

 

The national accounts data for a specific quarter or a specific year are revised in accordance with an ordinary publication and revision cycle. The quarterly figures within a specific year t have the status final 21 months after the end of the year (previously 23 months). See Administrative information, Frequency and timeliness. In addition, periodical main revisions give revised figures. See Background and purpose.

Publication cycle for quarterly 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

Aug/Sept., 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

About seasonal adjustment

General information on seasonal adjustment

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 .

Why seasonally adjust these statistics?

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 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 QNA which has to be given specific attention compared to other short time economic indicators:

  • The series for the main aggregates in the QNA is a result of aggregation of many components where the properties of the components are not homogenous.
  • 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.
  • In many cases it may be difficult to identify the seasonal-/calendar effects. This is a general phenomenon for quarterly series – especially when the series cover the whole country.
  • The QNA-series are often estimated through monthly economic indicators. It is important that the results of the seasonal adjustments are fairly similar.

All of these factors lead to larger flexibility and variation in the methods and routines for the seasonal adjustment of QNA-series than what is common for other statistics.

New method from the 3rd quarter of 2011.

From the 3rd quarter of 2011 QNA was published according to the new standard for industrial classification. We used this opportunity to change some routines regarding seasonal adjustment to ease the dissemination of constant price figures. In addition, there has been a significant reduction in the number of seasonally adjusted time series.

Background information

  • The QNA uses the final national accounts year as the base year for calculating “new” quarters. This means for example that when we use 2009 as the base year in November, it will be used to calculate the quarterly figures at constant prices for all quarters from the 1st quarter of 2010 to the 2nd quarter of 2012. When we calculate the 3rd quarter of 2012, the base year will be changed to 2010, and the quarters in 2011 and 2012 will be updated to the new base year.
  • For all quarters compiled on the basis of the base year, we have figures that are additive. That means that we can add together individual series in constant prices to get the correct aggregate.
  • The annual accounts always have t-1 as the base year, and this is the reference to calculate volume growth.
  • The annual growth rates estimated at t-1 prices will be kept and therefore we chain growth rates in the prices of the reference year (which is the current base year in the QNA).
  • Chaining is done on all levels and this means that additivity no longer applies. Thus, we can not add together figures for value added at constant prices and get the GDP at constant prices for quarters that are “older” than the base year.
  • The quarterly figures are always benchmarked against the annual figures. The QNA are updated with a new base year every year (i.e. the latest final version of the annual accounts). Every time we change base year (reference year), the recalculation of the quarterly accounts is carried out by distributing the annual figures between the quarters using the original quarterly figures as keys. The recalculated quarterly 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 quarterly changes to the original and harmonised series shall be as small as possible. The quarterly accounts should add up to the figures in the annual accounts.
  • Chaining in the QNA is done every year and the further we are from the reference price year, the greater the so-called chaining effect will be.
  • To seasonally adjust the GDP (and all other aggregates) we used 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. Longer seasonally adjusted time series have been requested by many external users and the lack of additivity has led us to change the seasonal adjustment method, see below.

Changes in method

The new method for seasonal adjustment of QNA figures address:

  • Level differences between the unadjusted and seasonally adjusted data due to chaining method when a new base year is established
  • Changes in seasonal patterns when the QNA series are benchmarked against the final annual accounts and the reference year is replaced.

We apply the indirect method on the individual series and then sum the series to its respective aggregate, but the period of revision is limited from the year before the base year to the present (where the figures are additive). For the years preceding the base year we keep the figures calculated from the direct seasonal adjustment approach. This means that the seasonal adjusted time series for QNA are kept constant from 1978 to the base year.

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.

Note that 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.

For certain aggregates the use of the indirect and direct approach will yield different results and thus the new time series may portray a different path than previously published figures.

The method chosen is in accordance with the ESS-Guidelines on seasonal adjustment .

Special Cases

Because of the large discrepancy between the old and the new method, some series have been specially treated. This is series for gross domestic product at market and basic prices. These series are first adjusted indirectly for the whole period 1978-2008 and afterwards the seasonal factors have been normalized so that both the unadjusted and adjusted series have the same annual level.

Seasonally adjusted series

Several hundred series are seasonally adjusted every quarter. The series are adjusted at a disaggregated level and then summed up to the main aggregates.

The series for gross value added are adjusted directly, as apposed 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).

The following tables give an indication of the seasonal patterns for the most important macroeconomic main aggregates. The first table shows the estimated correction factors for 2014 based on prior data by direct adjustment with X-12-ARIMA. The actual factors however will not be identical since they are estimated again when new data are available. The second table shows the means of the actual seasonal factors for the period 2007-2013 as a result of indirect adjustment of many series.

  seasonal_factors

The results show that the activity in the Norwegian economy systematically is highest in the 4th quarter. We also see that the activity is lowest in the 1st quarter for most of the main series except for total exports and gross domestic product where the lowest values are found in the 3rd quarter. Another important feature is that the tables show that the expected seasonal correction factors for 2014 match the actual seasonal factors in the previous years quite well. This implies that applying a direct or an indirect method for adjusting the main aggregates does not influence the results considerably. 

Pre-treatment

Pre-treatment routines/schemes

Pre-treatment is an adjustment for variations caused by calendar effects and outliers.

  • Running a detailed pre-treatment of some series/main series. The remaining series are treated by using standard options in the seasonal adjustment tools.

Comments : The series for final consumption expenditure are seasonally adjusted based on monthly series from the index of household consumption of goods.

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

  • Automatic correction. If performed by X-12-ARIMA, automatic correction of raw data will be based on US holidays.

Comments : Except for final consumption expenditure for households where the Norwegian calendar is used.

National and EU/euro area calendars

  • Use of default calendars. The default in X-12-ARIMA is the US calendar.

Comments : Final consumption expenditure for households uses the Norwegian calendar.

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.

  • Model selection is primarily automatic, but in some cases models are selected manually

Comments : Manual model selections take place when X-12-ARIMA rejects the five alternative models that are automatically tested. In these cases the so-called airlines model is chosen: (0, 0, 1)(0, 0, 1)

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, additive or log additive.

  • Manual decomposition scheme selection after graphical inspection of the series.

Comments : Additive decomposition is used for series with negative values, otherwise multiplicative decomposition is used.

Seasonal adjustment

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.

Comments : Seasonally adjusted series in the QNA are not required to sum up to the annual raw figures. Nevertheless we choose to publish identical annual figures of unadjusted and seasonally adjusted series

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 where the seasonal adjustment of components possibly occur using different approaches and software.

Comments : QNA 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
  • The whole time series is used to estimate the correction factors. Only part of the time series is used to estimate the model.

Comments : For most series the whole time series is used for estimating the model and correction factors, but for some series only part of the time series is used to estimate the model.

Audit procedures

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 data are revised in accordance with a well-defined and publicly available revision policy and release calendar.

The following table gives an indication of the expected growth rate revisions from the previous period when we compare the initial and final published data. This only applies to revisions caused by seasonal adjustment routines where revisions of raw data are not considered.

The figures for gross domestic product for Mainland Norway show that the seasonally adjusted growth rate from the previous period is exposed to a revision of 0.2 percentage points when new observations are added. It turns out that figures for the 1st quarter are subject to the least revisions. The table shows that gross fixed capital formation, exports and imports are most likely to be revised.

revisions

Concurrent versus current adjustment

  • The model, filters, outliers and regression parameters are re-identified and re-estimated continuously 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. This means that seasonally adjusted data for quarterly national accounts are held constant from 1978 to the base year.

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.

Quality of seasonal adjustment

Evaluation of seasonally adjustment data

  • Continuous/periodical evaluation using standard measures proposed by different seasonal adjustment tools.

Quality measures for seasonal adjustment

  • For most of the series, a selected set of diagnostics and graphical facilities for bulk treatment of data is used.

Table of quality measurement for this statistics:

For more information on the quality indicators in the table please refer to: metadata on methods: seasonal adjustment .

Comments to the table of qualitative indicators

All series were adjusted with the multiplicative method. The results of main aggregates’ are calculated via a direct adjustment with X-12-ARIMA. Although these series in practice are indirectly adjusted, we may claim that the results are still valid (see chapter 1.3)

X-12-ARIMA chooses automatically the most appropriate model for the individual series, apart from the series for gross fixed capital formation in extraction and transport via pipelines , gross domestic product for Mainland Norway, gross value added for production of other goods and gross value added for service activities, where the model is chosen manually.

Most aggregates do not show any trading day effects. Nevertheless, the location of the Easter holidays are significant for half part of the aggregates.

ANOVA shows that the rates of change for the original series are primarily due to seasonal effects. The contribution from trend and the irregular component is particularly relevant for final consumption expenditure of general government, gross fixed capital formation in extraction and transport via pipelines and exports. For GDP almost 87 per cent of the change in the raw data is explained by season. The rest is mostly explained by trading days and trend.

ASA and ACH were calculated for the period 2011-2013. The results show that revisions of the growth rates from the previous quarter ranged from 0.2 percentage points for GDP to 1.4 percentage points for export crude oil and natural gas .

M- and Q-values for the main aggregates indicate that some of the series (household final consumption expenditure, final domestic use of goods and services and GDP) are adjusted with satisfactory results. Nevertheless both levels and rates of change for the latest periods are exposed to revisions. The series may have some irregular fluctuations.

The remaining series are adjusted with questionable results. Levels and rates of change may have a great deal of variation in the most recent figures. The results should be interpreted with caution.

Special cases

Seasonal adjustment of short time series

  • All series are sufficiently long to perform an optimal seasonal adjustment.

Treatment of problematic series

  • For some series only recent years of the series are used to seasonally adjust the series, because deleting earlier data makes it possible to find a model/adjustment of reasonable quality.

Comments : Some problematic series are aggregated before they are seasonally adjusted. An example of such a series is gross value added for refined petroleum products which fluctuates between positive and negative levels. In order to avoid influencing GDP in an inappropriate way, this series is put together with gross value added for other chemical products, and the sum of the two industries are seasonally adjusted.

Posting procedures

Data availability

  • Both unadjusted (raw) and seasonally adjusted data are available.

Comments : However, not all seasonally adjusted figures are published.

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