365491
/en/nasjonalregnskap-og-konjunkturer/statistikker/knr/maaned
365491
statistikk
2019-09-09T08:00:00.000Z
National accounts and business cycles
en
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

Updated

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Key figures

0.9 %

seasonally adjusted three-month volume growth for GDP mainland Norway

Final expenditure and gross domestic product. Rolling three-month sum. Seasonally adjusted. Percentage change in volume12
20172018January 2019 - March 2019February 2019 - April 2019March 2019 - May 2019April 2019 - June 2019May 2019 - July 2019
1Figures from 2018 onwards are preliminary.
2Volume change in rolling three months is calculated by comparing a three-month period with the previous three-month period, for example GDP in May to July compared with February to April. Furthermore, a quarter will be the sum of three months. For example, the January-March period will refer to the first quarter.
Gross domestic product2.31.30.00.00.30.30.6
Gross domestic product Mainland Norway2.02.20.50.50.70.70.9
Petroleum activities and ocean transport4.6-3.7-3.1-2.8-2.1-2.1-1.5
Final domestic use of goods and services2.42.10.30.40.90.60.7
Final consumption expenditure of households and NPISH2.21.90.60.60.70.30.4
Final consumption expenditure of general government1.91.40.90.70.80.90.8
Gross fixed capital formation (GFCF)2.62.8-2.1-0.83.33.34.7
Total exports1.7-0.22.20.70.6-0.4-0.4
Total imports1.91.93.11.72.20.3-0.2
 
Employed persons1.21.60.50.4
Total hours worked0.21.80.40.5

See selected tables from this statistics

Table 1 
Final expenditure and gross domestic product. Monthly. Seasonally adjusted figures. Percentage change in volume from the previous period

Final expenditure and gross domestic product. Monthly. Seasonally adjusted figures. Percentage change in volume from the previous period1
December 2018January 2019February 2019March 2019April 2019May 2019June 2019July 2019
1Figures from 2018 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 NPISHs-0.30.5-0.11.1-0.60.10.7-0.2
¬ Household final consumption expenditure-0.40.5-0.21.1-0.70.10.7-0.3
¬¬ Goods-1.00.8-0.62.3-1.5-0.11.4-1.8
¬¬ Services0.50.20.10.60.00.20.40.6
¬¬ Direct purchases abroad by resident households-0.51.30.5-1.90.2-0.2-1.03.3
¬¬ Direct purchases by non-residents4.10.60.12.70.3-0.7-0.80.9
¬ Final consumption expenditure of NPISHs0.7-0.20.31.00.10.10.71.0
Final consumption expenditure of general governmen0.20.8-0.30.40.50.20.3-0.3
¬ Final consumption expenditure of central government0.41.2-0.50.40.70.30.5-0.5
¬¬¬ Central government, civilian0.41.1-0.40.50.70.30.5-0.5
¬¬¬ Central government, defence0.52.0-1.20.11.30.10.7-0.8
¬ Final consumption expenditure of local government0.10.5-0.20.30.30.20.2-0.1
Gross fixed capital formation (GFCF)-0.9-0.8-2.33.20.84.5-5.36.9
¬ Extraction and transport via pipelines (GFCF)0.1-0.3-5.14.18.9-1.0-4.711.3
¬ Ocean transport (GFCF)-1.1960.6......-51.9-67.0..
¬ Mainland Norway (GFCF)-1.1-1.6-0.72.9-1.96.3-5.26.1
¬¬ Mainland Norway excluding general government (GFCF)-2.0-0.5-0.13.2-3.34.2-3.16.7
¬¬¬ Industries (GFCF)-2.6-1.5-0.15.6-5.96.0-4.310.1
¬¬¬¬ Services activities incidential to extraction (GFCF)1.05.6-4.76.917.41.3-1.8-18.9
¬¬¬¬ Other services (GFCF)-4.4-1.91.14.8-9.410.6-5.94.6
¬¬¬¬ Manufacturing and mining (GFCF)0.27.8-1.83.70.92.0-0.528.9
¬¬¬¬ Production of other goods (GFCF)0.3-7.4-1.69.3-3.7-2.2-3.014.0
¬¬¬ Dwelling service (households) (GFCF)-1.11.2-0.2-0.91.11.4-1.01.1
¬¬¬ General government (GFCF)1.5-4.5-2.32.22.011.7-10.44.6
Acquisitions less disposals of valuables-14.928.2-3.70.9-3.05.6-12.813.1
Changes in stocks and statistical discrepancies-14.06.813.3-15.99.1-39.941.1-1.6
Gross capital formation-2.60.1-0.40.51.7-1.1-1.86.0
Final domestic use of goods and services-0.90.5-0.30.70.3-0.2-0.11.6
Final demand from Mainland Norway (excl. changes in stocks)-0.40.1-0.31.3-0.61.5-0.81.2
Final demand from general government0.5-0.2-0.70.70.82.4-1.90.6
Total exports0.44.5-2.90.70.50.2-1.3-0.8
¬ Traditional goods (export)-0.33.1-1.5-1.2-0.61.2-1.7-2.4
¬ Crude oil and natural gas (export)1.50.5-2.81.7-3.73.8-3.60.8
¬ Ships, oil platforms and aircraft (export)-14.1788.9-85.9125.9298.5-71.471.2-72.0
¬ Services (export)0.15.10.70.60.50.90.12.0
Total use of goods and services-0.51.5-1.00.70.4-0.1-0.40.9
Total imports-2.35.6-2.71.91.0-0.9-1.10.7
¬ Tradisjonelle varer (import)2.67.6-4.02.40.3-2.90.4-0.3
¬ Crude oil and natural gas (import)-41.40.220.4-1.55.8-45.7107.526.7
¬ Ships, oil platforms and aircraft (import)-60.023.9-19.534.48.851.9-47.0-13.6
¬ Services (import)0.31.40.0-0.71.50.3-0.72.2
Gross domestic product, market values20.10.2-0.40.30.10.2-0.21.0
Gross domestic product Mainland Norway, market values20.20.4-0.20.50.30.10.21.0
Petroleum activities and ocean transport3-0.6-0.8-1.6-0.5-0.70.4-2.51.3
Gross domestic product Mainland Norway, basic values0.20.2-0.10.40.30.20.31.0
¬ Mainland Norway excluding general government (GDP)0.20.3-0.10.50.30.20.31.3
¬¬ Manufacturing and mining (GDP)1.8-0.90.2-0.41.70.4-0.20.9
¬¬ Production of other goods (GDP)-1.10.9-1.80.41.21.3-0.83.2
¬¬ Service activities (GDP)0.20.40.30.6-0.10.00.70.9
¬ General government (GDP)0.30.0-0.20.20.10.10.20.1
Taxes and subsidies products-0.21.4-0.70.70.2-0.4-0.20.9

Table 2 
Final expenditure and gross domestic product. Rolling three-month sum. Seasonally adjusted. Percentage change in volume

Final expenditure and gross domestic product. Rolling three-month sum. Seasonally adjusted. Percentage change in volume12
October 2018 - December 2018November 2018 - January 2019December 2018 - February 2019January 2019 - March 2019February 2019 - April 2019March 2019 - May 2019April 2019 - June 2019May 2019 - July 2019
1Figures from 2018 onwards are prelimanry
2Rolling three-month growth is calculated by comparing a three-month period with the previous three-month period, for example growth in May to July compared with February to April. Furthermore, March, June, September and December represent the quarters in a year. For example, March will represent the first quarter.
3Gross domestic product is measured at market prices, while value added by industry is measured at basic prices.
4Includes oil and gas extraction, transport via pipelines and ocean transport.
Final consumption expenditure of households and NPISHs0.40.10.10.60.60.70.30.4
¬ Household final consumption expenditure0.30.10.10.60.60.70.30.4
¬¬ Goods0.0-0.4-0.40.60.61.10.2-0.1
¬¬ Services0.30.40.60.80.80.80.70.9
¬¬ Direct purchases abroad by resident households2.41.71.70.60.0-1.1-1.3-0.2
¬¬ Direct purchases by non-residents1.53.14.94.43.72.91.40.2
¬ Final consumption expenditure of NPISHs1.71.20.90.81.01.21.11.3
Final consumption expenditure of general governmen0.10.50.70.90.70.80.90.8
¬ Final consumption expenditure of central government-0.20.40.91.31.01.11.21.1
¬¬¬ Central government, civilian-0.20.30.81.21.01.11.21.1
¬¬¬ Central government, defence-0.21.21.61.80.80.91.31.2
¬ Final consumption expenditure of local government0.40.60.60.60.50.60.60.6
Gross fixed capital formation (GFCF)2.90.4-2.0-2.1-0.83.33.34.7
¬ Extraction and transport via pipelines (GFCF)4.83.00.0-2.60.26.07.56.6
¬ Ocean transport (GFCF)..133.3-20.5-19.8-45.523.980.6-37.6
¬ Mainland Norway (GFCF)2.1-0.4-2.4-1.9-0.92.72.14.3
¬¬ Mainland Norway excluding general government (GFCF)3.20.7-1.1-0.9-0.22.00.43.1
¬¬¬ Industries (GFCF)4.90.7-2.1-1.6-0.32.90.04.0
¬¬¬¬ Services activities incidential to extraction (GFCF)30.019.610.94.59.818.221.16.3
¬¬¬¬ Other services (GFCF)5.4-0.2-3.6-2.8-1.81.7-1.62.5
¬¬¬¬ Manufacturing and mining (GFCF)6.56.97.28.36.26.44.013.5
¬¬¬¬ Production of other goods (GFCF)0.7-2.5-5.2-5.5-1.92.0-0.80.7
¬¬¬ Dwelling service (households) (GFCF)0.60.80.60.20.00.51.01.5
¬¬¬ General government (GFCF)-1.0-3.4-5.8-4.6-2.74.46.87.7
Acquisitions less disposals of valuables0.9-1.8-0.49.36.76.1-4.4-1.1
Changes in stocks and statistical discrepancies14.741.213.29.63.3-14.8-17.5-24.1
Gross capital formation4.14.0-0.4-0.8-0.31.10.61.1
Final domestic use of goods and services1.41.40.10.30.40.90.60.7
Final demand from Mainland Norway (excl. changes in stocks)0.70.1-0.30.10.31.20.91.4
Final demand from general government-0.1-0.2-0.6-0.10.11.52.02.1
Total exports-1.5-0.61.12.20.70.6-0.4-0.4
¬ Traditional goods (export)4.24.54.92.2-0.6-1.2-1.7-1.6
¬ Crude oil and natural gas (export)-2.3-4.3-3.5-2.5-2.2-1.3-2.3-0.4
¬ Ships, oil platforms and aircraft (export)-69.5-7.718.9232.538.855.454.3-32.9
¬ Services (export)-4.4-1.52.25.74.73.31.72.1
Total use of goods and services0.60.80.40.80.50.80.30.4
Total imports1.22.51.03.11.72.20.3-0.2
¬ Tradisjonelle varer (import)0.93.55.26.33.31.2-1.3-1.8
¬ Crude oil and natural gas (import)8.5-7.6-30.4-16.7-1.5-2.5-1.26.6
¬ Ships, oil platforms and aircraft (import)9.09.4-46.2-24.1-19.954.835.516.0
¬ Services (import)0.70.71.21.11.10.91.01.3
Gross domestic product, market values30.40.30.20.00.00.30.30.6
Gross domestic product Mainland Norway, market values1.01.00.70.50.50.70.70.9
Petroleum activities and ocean transport4-3.3-3.8-3.1-3.1-2.8-2.1-2.1-1.5
Gross domestic product Mainland Norway, basic values1.21.10.70.40.50.70.81.1
¬ Mainland Norway excluding general government (GDP)1.41.20.80.50.60.80.91.3
¬¬ Manufacturing and mining (GDP)1.61.81.90.30.50.61.61.5
¬¬ Production of other goods (GDP)4.02.5-0.1-1.3-0.90.71.42.7
¬¬ Service activities (GDP)0.70.80.91.11.00.90.60.9
¬ General government (GDP)0.60.60.40.20.10.20.40.4
Taxes and subsidies products0.10.40.61.00.70.70.10.1

Table 3 
Final expenditure and gross domestic product. Quarter and year. At current prices. NOK million

Final expenditure and gross domestic product. Quarter and year. At current prices. NOK million1
201720182nd quarter 20183rd quarter 20184th quarter 20181st quarter 20192nd quarter 2019
1Figures from 2018 onwards are prelimanry
2Gross domestic product is measured at market prices, while value added by industry is measured at basic prices
3Includes oil and gas extraction, transport via pipelines and ocean transport.
Final consumption expenditure of households and NPISHs1 471 6571 533 570388 027375 018405 715384 182396 676
¬ Household final consumption expenditure1 392 6351 449 071365 886356 534382 520361 491373 877
¬¬ Goods635 541658 422166 255161 225179 146157 546167 910
¬¬ Services685 682714 718180 268178 047180 807186 794186 981
¬¬ Direct purchases abroad by resident households117 386123 44631 96937 47329 12525 71232 680
¬¬ Direct purchases by non-residents-45 974-47 515-12 606-20 212-6 558-8 561-13 695
¬ Final consumption expenditure of NPISHs79 02284 49822 14118 48423 19522 69122 799
Final consumption expenditure of general governmen791 090826 777213 031204 889206 433210 768223 445
¬ Final consumption expenditure of central government389 412405 017103 596100 400102 524103 037109 452
¬¬¬ Central government, civilian343 637356 69291 24588 73189 62491 11796 236
¬¬¬ Central government, defence45 77548 32412 35111 66912 90011 92013 216
¬ Final consumption expenditure of local government401 678421 761109 435104 489103 909107 731113 993
 
Gross fixed capital formation (GFCF)809 386851 475211 516213 867231 162212 794228 298
¬ Extraction and transport via pipelines (GFCF)149 830153 42138 56639 85343 35537 95244 557
¬ Ocean transport (GFCF)94484862-203454421746
¬ Mainland Norway (GFCF)658 612697 207172 888174 217187 352174 421182 996
¬¬ Industries (GFCF)284 509310 98278 83976 21886 79777 03482 009
¬¬¬ Services activities incidential to extraction (GFCF)4 2416 1041 6951 1691 9521 9932 470
¬¬¬ Other services (GFCF)176 857187 63846 93245 50351 13347 79548 223
¬¬¬ Manufacturing and mining (GFCF)37 88245 25111 31510 45014 33912 20913 333
¬¬¬ Production of other goods (GFCF)65 52971 99018 89719 09619 37215 03817 983
¬¬ welling service (households) (GFCF)200 258193 52347 65147 73849 35649 00349 927
¬¬ General government (GFCF)173 845192 70146 39750 26151 20048 38351 060
Acquisitions less disposals of valuables38842811390120120117
Changes in stocks and statistical discrepancies107 471113 49927 31011 39032 63051 79411 551
Gross capital formation917 245965 402238 938225 347263 911264 708239 967
 
Final domestic use of goods and services3 179 9923 325 749839 996805 253876 059859 658860 087
Final demand from Mainland Norway (excl. changes in stocks)2 921 3593 057 554773 946754 123799 500769 371803 116
Final demand from general government964 9351 019 478259 428255 149257 633259 151274 505
 
Total exports1 197 3111 357 321330 772349 056354 354338 767319 854
¬ Traditional goods (export)380 711410 981103 49798 660109 807108 653107 653
¬ Crude oil and natural gas (export)459 695569 384130 254146 729153 446139 096108 953
¬ Ships, oil platforms and aircraft (export)17 78311 0943 6492 8958862 8964 319
¬ Services (export)339 122365 86293 372100 77290 21588 12298 928
 
Total use of goods and services4 377 3034 683 0701 170 7681 154 3091 230 4131 198 4251 179 941
 
Total imports1 081 9211 152 209295 474291 863300 186290 826309 701
¬ Tradisjonelle varer (import)632 105681 757174 403166 894180 674182 558185 827
¬ Crude oil and natural gas (import)13 74224 5796 8626 4235 7894 4595 578
¬ Ships, oil platforms and aircraft (import)44 30437 56910 7068 4629 4957 1929 791
¬ Services (import)391 770408 304103 503110 084104 22896 617108 505
 
Gross domestic product, market values23 295 3823 530 860875 293862 446930 228907 600870 240
Gross domestic product Mainland Norway, market values22 792 0342 906 871730 182702 905761 957756 825749 086
 
Petroleum activities and ocean transport3503 348623 989145 111159 542168 271150 774121 154
Gross domestic product Mainland Norway, basic values2 416 4662 514 436631 988604 007658 767661 262649 393
¬ Mainland Norway excluding general government (GDP)1 805 7681 871 320465 045445 064496 761498 968475 587
¬¬ Manufacturing and mining (GDP)216 101213 69653 88749 61556 96056 46456 948
¬¬ Production of other goods (GDP)323 683356 37780 09686 69499 64396 15380 365
¬¬ Service activities (GDP)1 265 9841 301 247331 062308 755340 159346 351338 275
¬ General government (GDP)610 698643 116166 943158 943162 005162 294173 806
Taxes and subsidies products375 568392 43598 19498 898103 19095 56499 692

Table 4 
Final expenditure and gross domestic product. Quarter and year. At constant 2017-prices. NOK million

Final expenditure and gross domestic product. Quarter and year. At constant 2017-prices. NOK million1
201720182nd quarter 20183rd quarter 20184th quarter 20181st quarter 20192nd quarter 2019
1Figures from 2018 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 471 6571 500 206379 738369 954393 717366 076379 776
¬ Household final consumption expenditure1 392 6351 417 981358 546351 431371 932343 944358 684
¬¬ Goods635 541640 205162 815156 419171 401149 995161 505
¬¬ Services685 682701 524176 107177 300178 191176 600177 722
¬¬ Direct purchases abroad by resident households117 386122 36431 89037 17528 65625 59532 473
¬¬ Direct purchases by non-residents-45 974-46 112-12 266-19 464-6 317-8 246-13 015
¬ Final consumption expenditure of NPISHs79 02282 22421 19218 52321 78522 13221 091
Final consumption expenditure of general governmen791 090801 937201 891200 122200 046202 257206 402
¬ Final consumption expenditure of central government389 412392 67398 38998 35597 88499 142101 005
¬¬¬ Central government, civilian343 637346 28986 76486 74686 29187 33588 987
¬¬¬ Central government, defence45 77546 38511 62511 60911 59311 80812 018
¬ Final consumption expenditure of local government401 678409 264103 502101 767102 162103 114105 397
 
Gross fixed capital formation (GFCF)809 386832 088207 233209 019223 461206 166217 868
¬ Extraction and transport via pipelines (GFCF)149 830152 68838 74040 21242 27537 91643 263
¬ Ocean transport (GFCF)94476337-208466357711
¬ Mainland Norway (GFCF)658 612678 637168 456169 014180 720167 893173 894
¬¬Næringer (bruttoinvestering)284 509303 88877 04774 39884 20274 67178 457
¬¬¬ Services activities incidential to extraction (GFCF)4 2415 9661 6631 1511 8831 9252 357
¬¬¬ Other services (GFCF)176 857183 40945 83144 40449 64846 36446 135
¬¬¬ Manufacturing and mining (GFCF)37 88244 19411 06310 21513 89511 79412 733
¬¬¬ Production of other goods (GFCF)65 52970 31818 49118 62818 77614 58717 232
¬¬ Dwelling service (households) (GFCF)200 258187 92946 33546 05547 42446 96647 320
¬¬ General government (GFCF)173 845186 82045 07348 56149 09446 25748 118
Acquisitions less disposals of valuables38841611088115113110
Changes in stocks and statistical discrepancies107 471110 95225 88210 86232 80450 53411 165
Gross capital formation917 245943 456233 224219 968256 380256 813229 144
 
Final domestic use of goods and services3 179 9923 245 599814 853790 044850 143825 146815 321
Final demand from Mainland Norway (excl. changes in stocks)2 921 3592 980 780750 085739 090774 484736 225760 072
Final demand from general government964 935988 758246 964248 683249 141248 513254 520
 
Total exports1 197 3111 194 483296 704304 250301 294298 702298 397
¬ Traditional goods (export)380 711388 24296 18093 492103 970103 00199 556
¬ Crude oil and natural gas (export)459 695437 789103 958107 678110 632110 05098 472
¬ Ships, oil platforms and aircraft (export)17 78310 9913 6232 8328632 8694 428
¬ Services (export)339 122357 46192 944100 24885 82982 78295 940
 
Total use of goods and services4 377 3034 440 0821 111 5571 094 2941 151 4381 123 8481 113 718
 
Total imports1 081 9211 102 205284 708279 314282 620277 439292 369
¬ Tradisjonelle varer (import)632 105652 116167 913159 428170 013175 129174 541
¬ Crude oil and natural gas (import)13 74219 1015 2044 7504 5163 6494 365
¬ Ships, oil platforms and aircraft (import)44 30435 73910 5048 0678 7906 6729 038
¬ Services (import)391 770395 250101 088107 06999 30091 989104 424
 
Gross domestic product, market values23 295 3823 337 877826 849814 979868 817846 409821 350
Gross domestic product Mainland Norway, market values22 792 0342 853 368710 172696 307745 734727 279712 421
 
Petroleum activities and ocean transport503 348484 509116 677118 673123 083119 130108 928
Gross domestic product Mainland Norway, basic values2 416 4662 473 955615 044602 088647 263634 167616 920
¬ Mainland Norway excluding general government (GDP)1 805 7681 847 520458 457445 001488 902476 614457 419
¬¬ Manufacturing and mining (GDP)216 101217 91555 16051 85957 34556 72955 901
¬¬ Production of other goods (GDP)323 683330 30774 91179 29591 11186 06674 435
¬¬ Service activities (GDP)1 265 9841 299 299328 386313 847340 446333 819327 082
¬ General government (GDP)610 698626 435156 587157 087158 362157 552159 501
Taxes and subsidies products375 568379 41395 12794 21998 47193 11395 501

Table 5 
Final expenditure and gross domestic product. Quarter and year. Percentage change in volume from the same period in the previous year

Final expenditure and gross domestic product. Quarter and year. Percentage change in volume from the same period in the previous year1
201720182nd quarter 20183rd quarter 20184th quarter 20181st quarter 20192nd quarter 2019
1Figures from 2018 onwards are prelimanry
2Gross domestic product is measured at market prices, while value added by industry is measured at basic prices.
3Includes oil and gas extraction, transport via pipelines and ocean transport.
Final consumption expenditure of households and NPISHs2.21.93.91.81.42.60.0
¬ Household final consumption expenditure2.31.83.61.81.22.30.0
¬¬ Goods2.30.72.7-0.3-0.70.3-0.8
¬¬ Services2.32.34.12.62.43.90.9
¬¬ Direct purchases abroad by resident households2.14.24.04.04.93.91.8
¬¬ Direct purchases by non-residents2.40.30.2-2.60.02.26.1
¬ Final consumption expenditure of NPISHs1.74.18.83.54.96.8-0.5
Final consumption expenditure of general governmen1.91.41.91.30.01.22.2
¬ Final consumption expenditure of central government1.90.81.30.8-0.81.12.7
¬¬¬ Central government, civilian1.90.81.20.7-0.91.02.6
¬¬¬ Central government, defence1.61.31.91.40.02.23.4
¬ Final consumption expenditure of local government1.91.92.51.80.81.31.8
 
Gross fixed capital formation (GFCF)2.62.82.24.45.67.25.1
¬ Extraction and transport via pipelines (GFCF)-5.41.9-1.312.07.020.511.7
¬ Ocean transport (GFCF)-92.5-19.1....54.1-23.81 840.7
¬ Mainland Norway (GFCF)6.83.02.93.95.24.63.2
¬¬ Industries (GFCF)9.26.813.24.99.89.41.8
¬¬¬ Services activities incidential to extraction (GFCF)101.840.7121.14.619.251.741.7
¬¬¬ Other services (GFCF)10.53.77.22.47.86.50.7
¬¬¬ Manufacturing and mining (GFCF)-0.516.728.623.314.530.715.1
¬¬¬ Production of other goods (GFCF)8.47.316.02.411.01.1-6.8
¬¬ Dwelling service (households) (GFCF)7.3-6.2-8.2-8.4-3.0-2.42.1
¬¬ General government (GFCF)2.67.5-0.217.46.44.96.8
Acquisitions less disposals of valuables..7.219.8-6.5-8.29.90.0
Changes in stocks and statistical discrepancies2.03.2208.3-30.9-6.422.0-56.9
Gross capital formation3.12.910.41.93.99.8-1.7
 
Final domestic use of goods and services2.42.15.21.71.84.40.1
Final demand from Mainland Norway (excl. changes in stocks)3.12.03.12.21.92.71.3
Final demand from general government2.02.51.54.11.21.93.1
 
Total exports1.7-0.2-0.60.80.32.20.6
¬ Traditional goods (export)1.72.03.4-0.93.08.93.5
¬ Crude oil and natural gas (export)5.1-4.8-8.7-4.7-2.6-4.7-5.3
¬ Ships, oil platforms and aircraft (export)5.0-38.2-11.458.2-59.9-21.922.2
¬ Services (export)-2.15.46.07.92.45.53.2
 
Total use of goods and services2.21.43.51.41.43.80.2
 
Total imports1.91.94.72.80.88.62.7
¬ Tradisjonelle varer (import)3.83.27.13.71.113.23.9
¬ Crude oil and natural gas (import)28.039.032.632.732.3-21.2-16.1
¬ Ships, oil platforms and aircraft (import)-12.0-19.3-8.7-11.80.0-20.4-14.0
¬ Services (import)0.20.91.51.8-0.74.83.3
 
Gross domestic product, market values22.31.33.21.01.62.3-0.7
Gross domestic product Mainland Norway, market values22.02.24.71.82.53.70.3
 
Petroleum activities and ocean transport34.6-3.7-5.3-3.6-3.6-5.5-6.6
Gross domestic product Mainland Norway, basic values1.92.45.12.02.74.00.3
¬ Mainland Norway excluding general government (GDP)1.92.36.01.72.84.7-0.2
¬¬ Manufacturing and mining (GDP)0.00.83.91.72.75.91.3
¬¬ Production of other goods (GDP)2.92.05.9-1.12.91.3-0.6
¬¬ Service activities (GDP)2.02.66.42.42.85.4-0.4
¬ General government (GDP)1.62.62.42.92.62.01.9
Taxes and subsidies products2.91.02.30.50.81.70.4

Table 6 
Final expenditure and gross domestic product. Quarter and year. Percentage change in prices from the same period in the previous year

Final expenditure and gross domestic product. Quarter and year. Percentage change in prices from the same period in the previous year1
201720182nd quarter 20183rd quarter 20184th quarter 20181st quarter 20192nd quarter 2019
1Figures from 2018 onwards are prelimanry
2Gross domestic product is measured at market prices, while value added by industry is measured at basic prices.
3Includes oil and gas extraction, transport via pipelines and ocean transport.
Final consumption expenditure of households and NPISHs2.02.21.72.22.72.62.2
¬ Household final consumption expenditure1.92.21.72.22.62.62.1
¬¬ Goods1.02.82.13.23.93.51.8
¬¬ Services2.41.91.61.92.02.42.8
¬¬ Direct purchases abroad by resident households4.30.90.00.4-0.7-0.50.4
¬¬ Direct purchases by non-residents2.73.02.83.43.72.92.4
¬ Final consumption expenditure of NPISHs3.42.82.32.22.92.83.5
Final consumption expenditure of general governmen2.93.12.82.83.62.92.6
¬ Final consumption expenditure of central government2.33.12.62.84.03.52.9
¬¬¬ Central government, civilian2.43.02.72.73.43.62.8
¬¬¬ Central government, defence1.44.21.93.98.32.33.5
¬ Final consumption expenditure of local government3.43.13.12.73.32.42.3
 
Gross fixed capital formation (GFCF)1.02.31.43.03.21.92.7
¬ Extraction and transport via pipelines (GFCF)-4.30.5-1.51.43.6-0.53.5
¬ Ocean transport (GFCF)2.111.0690.8117.2..3.3-37.8
¬ Mainland Norway (GFCF)2.22.72.22.92.72.42.5
¬¬ Industries (GFCF)1.62.31.72.42.01.82.2
¬¬¬ Services activities incidential to extraction (GFCF)0.02.32.20.91.72.02.8
¬¬¬ Other services (GFCF)1.32.31.62.91.91.82.1
¬¬¬ Manufacturing and mining (GFCF)1.82.41.42.13.32.12.4
¬¬¬ Production of other goods (GFCF)2.32.41.91.41.31.72.1
¬¬ Dwelling service (households) (GFCF)2.93.02.73.32.82.92.6
¬¬ General government (GFCF)2.63.12.63.13.72.83.1
Acquisitions less disposals of valuables-92.33.0-1.316.821.13.73.9
Changes in stocks and statistical discrepancies17.82.314.6-2.2-6.00.6-2.0
Gross capital formation2.22.32.22.51.91.62.2
 
Final domestic use of goods and services2.32.52.12.52.62.42.3
Final demand from Mainland Norway (excl. changes in stocks)2.32.62.12.52.92.72.4
Final demand from general government2.83.12.82.83.62.92.7
 
Total exports7.213.614.020.111.92.6-3.8
¬ Traditional goods (export)5.25.96.26.86.00.80.5
¬ Crude oil and natural gas (export)17.030.134.051.123.15.1-11.7
¬ Ships, oil platforms and aircraft (export)-1.70.9-0.94.71.71.2-3.2
¬ Services (export)-1.52.41.22.03.52.52.6
 
Total use of goods and services3.65.55.27.25.12.40.6
 
Total imports2.44.53.95.63.91.22.1
¬ Tradisjonelle varer (import)3.54.54.25.64.11.02.5
¬ Crude oil and natural gas (import)23.628.737.941.213.42.8-3.1
¬ Ships, oil platforms and aircraft (import)-0.75.12.26.35.11.46.3
¬ Services (import)0.43.32.14.02.71.91.5
 
Gross domestic product, market values24.05.85.77.85.52.80.1
Gross domestic product Mainland Norway, market values21.71.91.31.52.82.52.3
 
Petroleum activities and ocean transport318.428.834.347.220.85.6-10.6
Gross domestic product Mainland Norway, basic values1.71.61.11.12.72.62.4
¬ Mainland Norway excluding general government (GDP)1.31.30.50.92.52.62.5
¬¬ Manufacturing and mining (GDP)3.7-1.9-3.5-5.00.50.14.3
¬¬ Production of other goods (GDP)2.27.96.99.611.05.61.0
¬¬ Service activities (GDP)0.60.1-0.2-0.30.52.32.6
¬ General government (GDP)3.02.72.71.73.32.52.2
Taxes and subsidies products1.93.42.74.33.62.01.1

Table 7 
Final expenditure and gross domestic product. Quarter and year. Seasonally adjusted figures. At current prices. NOK million

Final expenditure and gross domestic product. Quarter and year. Seasonally adjusted figures. At current prices. NOK million1
201720182nd quarter 20183rd quarter 20184th quarter 20181st quarter 20192nd quarter 2019
1Figures from 2018 onwards are prelimanry
2Includes oil and gas extraction, transport via pipelines and ocean transport.
Final consumption expenditure of households and NPISHs1 471 6571 533 570384 317386 433390 791394 974396 991
¬ Household final consumption expenditure1 392 6351 449 071363 285365 176368 860372 852374 465
¬¬ Goods635 541658 422166 479166 905167 840168 365169 036
¬¬ Services685 682714 718177 913179 256181 765185 650187 245
¬¬ Direct purchases abroad by resident households117 386123 44630 67230 86931 40331 43631 028
¬¬ Direct purchases by non-residents-45 974-47 515-11 780-11 854-12 149-12 599-12 844
¬ Final consumption expenditure of NPISHs79 02284 49821 03321 25721 93222 12222 525
Final consumption expenditure of general governmen791 090826 777205 724207 023209 616212 897215 764
¬ Final consumption expenditure of central government389 412405 017100 719101 712102 383104 771106 411
¬¬¬ Central government, civilian343 637356 69288 88089 61389 86892 38693 754
¬¬¬ Central government, defence45 77548 32411 83912 09912 51512 38512 657
¬ Final consumption expenditure of local government401 678421 761105 005105 311107 233108 126109 353
 
Gross fixed capital formation (GFCF)809 386851 475210 355216 707223 684218 546227 263
¬ Extraction and transport via pipelines (GFCF)149 830153 42138 01239 51942 22039 98144 007
¬ Ocean transport (GFCF)94484840-206462439723
¬ Mainland Norway (GFCF)658 612697 207172 303177 395181 003178 126182 533
¬¬ Industries (GFCF)284 509310 98277 69378 66582 13580 38780 898
¬¬¬ Services activities incidential to extraction (GFCF)4 2416 1041 6391 3731 8461 9532 411
¬¬¬ Other services (GFCF)176 857187 63846 46147 24349 49348 13047 809
¬¬¬ Manufacturing and mining (GFCF)37 88245 25111 41211 61912 31112 99213 407
¬¬¬ Production of other goods (GFCF)65 52971 99018 18118 43118 48517 31117 271
¬¬ Dwelling service (households) (GFCF)200 258193 52347 55748 17848 68449 30949 876
¬¬ General government (GFCF)173 845192 70147 05350 55250 18448 43151 759
Acquisitions less disposals of valuables388428109107111116114
Changes in stocks and statistical discrepancies107 471113 49926 49525 17929 64733 23023 118
Gross capital formation917 245965 402236 959241 994253 443251 892250 495
 
Final domestic use of goods and services3 179 9923 325 749827 001835 450853 850859 763863 250
Final demand from Mainland Norway (excl. changes in stocks)2 921 3593 057 554762 345770 851781 410785 998795 287
Final demand from general government964 9351 019 478252 778257 576259 799261 328267 522
 
Total exports1 197 3111 357 321339 545354 517347 132339 634329 278
¬ Traditional goods (export)380 711410 981102 874103 074108 239108 752108 745
¬ Crude oil and natural gas (export)459 695569 384141 165154 740146 322132 384118 873
¬ Ships, oil platforms and aircraft (export)17 78311 0943 6492 8958862 8964 319
¬ Services (export)339 122365 86291 85793 80891 68595 60297 341
 
Total use of goods and services4 377 3034 683 0701 166 5461 189 9671 200 9821 199 3971 192 527
 
Total imports1 081 9211 152 209289 384290 811295 610303 045307 412
¬ Tradisjonelle varer (import)632 105681 757170 679172 792176 008185 665186 535
¬ Crude oil and natural gas (import)13 74224 5796 4486 1106 0104 7414 990
¬ Ships, oil platforms and aircraft (import)44 30437 56910 7068 4629 4957 1929 791
¬ Services (import)391 770408 304101 552103 447104 096105 447106 097
 
Gross domestic product, market values3 295 3823 530 860877 162899 155905 372896 352885 115
Gross domestic product Mainland Norway, market values2 792 0342 906 871723 852730 180745 249752 555758 271
 
Petroleum activities and ocean transport2503 348623 989153 310168 975160 124143 797126 844
Gross domestic product Mainland Norway, basic values2 416 4662 514 436626 137631 229645 617652 802657 867
¬ Mainland Norway excluding general government (GDP)1 805 7681 871 320466 281470 319481 268487 604491 444
¬¬ Manufacturing and mining (GDP)216 101213 69653 14353 02356 57655 90257 720
¬¬ Production of other goods (GDP)323 683356 37788 31990 61192 36191 09791 403
¬¬ Service activities (GDP)1 265 9841 301 247324 819326 685332 332340 604342 321
¬ General government (GDP)610 698643 116159 857160 910164 349165 198166 424
Taxes and subsidies products375 568392 43597 71598 95199 63199 753100 404

Table 8 
Final expenditure and gross domestic product. Quarter and year. Seasonally adjusted figures. At constant 2017-prices. NOK million

Final expenditure and gross domestic product. Quarter and year. Seasonally adjusted figures. At constant 2017-prices. NOK million1
201720182nd quarter 20183rd quarter 20184th quarter 20181st quarter 20192nd quarter 2019
1Figures from 2018 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 471 6571 500 206377 777377 331378 691380 669382 040
¬ Household final consumption expenditure1 392 6351 417 981357 173356 707357 708359 571360 751
¬¬ Goods635 541640 205162 786160 946160 872161 895162 372
¬¬ Services685 682701 524175 211176 845177 339178 468179 635
¬¬ Direct purchases abroad by resident households117 386122 36430 66630 35931 10231 30230 960
¬¬ Direct purchases by non-residents-45 974-46 112-11 489-11 443-11 604-12 095-12 217
¬ Final consumption expenditure of NPISHs79 02282 22420 60420 62420 98221 09821 289
Final consumption expenditure of general governmen791 090801 937200 308200 449200 760202 805204 763
¬ Final consumption expenditure of central government389 412392 67398 11298 19898 03699 432100 704
¬¬¬ Central government, civilian343 637346 28986 51586 59686 44187 59088 717
¬¬¬ Central government, defence45 77546 38511 59811 60211 59511 84211 987
¬ Final consumption expenditure of local government401 678409 264102 196102 252102 724103 373104 059
 
Gross fixed capital formation (GFCF)809 386832 088206 714211 181216 447211 494217 462
¬ Extraction and transport via pipelines (GFCF)149 830152 68838 35639 51541 24840 03142 868
¬ Ocean transport (GFCF)94476316-213474375690
¬ Mainland Norway (GFCF)658 612678 637168 342171 880174 725171 088173 904
¬¬ Industries (GFCF)284 509303 88876 15076 44879 67578 02977 608
¬¬¬ Services activities incidential to extraction (GFCF)4 2415 9661 6131 3451 7781 8892 304
¬¬¬ Other services (GFCF)176 857183 40945 51145 83348 12346 74245 876
¬¬¬ Manufacturing and mining (GFCF)37 88244 19411 21511 33711 85312 58012 865
¬¬¬ Production of other goods (GFCF)65 52970 31817 81117 93317 92216 81816 562
¬¬ Dwelling service (households) (GFCF)200 258187 92946 34946 63946 84246 93247 375
¬¬ General government (GFCF)173 845186 82045 84248 79348 20746 12748 921
Acquisitions less disposals of valuables388416108103103112108
Changes in stocks and statistical discrepancies107 471110 95227 32023 99628 01332 01126 908
Gross capital formation917 245943 456234 142235 281244 563243 618244 477
 
Final domestic use of goods and services3 179 9923 245 599812 228813 061824 014827 092831 280
Final demand from Mainland Norway (excl. changes in stocks)2 921 3592 980 780746 427749 660754 176754 562760 707
Final demand from general government964 935988 758246 151249 243248 967248 932253 684
 
Total exports1 197 3111 194 483301 244302 162298 418304 532303 754
¬ Traditional goods (export)380 711388 24296 88296 890101 771103 782102 013
¬ Crude oil and natural gas (export)459 695437 789110 070110 688108 329105 579103 723
¬ Ships, oil platforms and aircraft (export)17 78310 9913 6232 8328632 8694 428
¬ Services (export)339 122357 46190 67091 75287 45592 30293 591
 
Total use of goods and services4 377 3034 440 0821 113 4721 115 2231 122 4321 131 6231 135 034
 
Total imports1 081 9211 102 205278 907276 120280 083289 458290 746
¬ Tradisjonelle varer (import)632 105652 116164 331164 254166 528177 805175 705
¬ Crude oil and natural gas (import)13 74219 1014 9004 5004 7963 8713 892
¬ Ships, oil platforms and aircraft (import)44 30435 73910 5048 0678 7906 6729 038
¬ Services (import)391 770395 25099 17399 29899 969101 111102 111
 
Gross domestic product, market values23 295 3823 337 877834 564839 103842 350842 165844 288
Gross domestic product Mainland Norway, market values22 792 0342 853 368713 466716 370723 217726 738731 531
 
Petroleum activities and ocean transport3503 348484 509121 098122 733119 133115 427112 757
Gross domestic product Mainland Norway, basic values2 416 4662 473 955618 810621 354628 093630 694635 375
¬ Mainland Norway excluding general government (GDP)1 805 7681 847 520462 778464 206470 015472 356476 435
¬¬ Manufacturing and mining (GDP)216 101217 91554 90855 36856 18156 35157 248
¬¬ Production of other goods (GDP)323 683330 30781 98081 60984 52583 32984 454
¬¬ Service activities (GDP)1 265 9841 299 299325 890327 229329 309332 676334 734
¬ General government (GDP)610 698626 435156 032157 148158 078158 338158 940
Taxes and subsidies products375 568379 41394 65695 01695 12496 04396 155

Table 9 
Final expenditure and gross domestic product. Quarter and year. Seasonally adjusted figures. Percentage change in volume from the previous period.

Final expenditure and gross domestic product. Quarter and year. Seasonally adjusted figures. Percentage change in volume from the previous period.1
201720182nd quarter 20183rd quarter 20184th quarter 20181st quarter 20192nd quarter 2019
1Figures from 2018 onwards are prelimanry
2Gross domestic product is measured at market prices, while value added by industry is measured at basic prices.
3Includes oil and gas extraction, transport via pipelines and ocean transport.
Final consumption expenditure of households and NPISHs2.21.91.5-0.10.40.50.4
¬ Household final consumption expenditure2.31.81.5-0.10.30.50.3
¬¬ Goods2.30.71.8-1.10.00.60.3
¬¬ Services2.32.31.00.90.30.60.7
¬¬ Direct purchases abroad by resident households2.14.22.0-1.02.40.6-1.1
¬¬ Direct purchases by non-residents2.40.3-2.3-0.41.44.21.0
¬ Final consumption expenditure of NPISHs1.74.11.60.11.70.60.9
Final consumption expenditure of general governmen1.91.4-0.10.10.21.01.0
¬ Final consumption expenditure of central government1.90.8-0.20.1-0.21.41.3
¬¬¬ Central government, civilian1.90.8-0.30.1-0.21.31.3
¬¬¬ Central government, defence1.61.30.10.0-0.12.11.2
¬ Final consumption expenditure of local government1.91.90.10.10.50.60.7
 
Gross fixed capital formation (GFCF)2.62.84.62.22.5-2.32.8
¬ Extraction and transport via pipelines (GFCF)-5.41.914.53.04.4-3.07.1
¬ Ocean transport (GFCF)-92.5-19.1-96.7....-20.984.0
¬ Mainland Norway (GFCF)6.83.02.92.11.7-2.11.6
¬¬ Industries (GFCF)9.26.86.50.44.2-2.1-0.5
¬¬¬ Services activities incidential to extraction (GFCF)101.840.731.3-16.632.26.222.0
¬¬¬ Other services (GFCF)10.53.73.70.75.0-2.9-1.9
¬¬¬ Manufacturing and mining (GFCF)-0.516.714.81.14.56.12.3
¬¬¬ Production of other goods (GFCF)8.47.37.10.7-0.1-6.2-1.5
¬¬ Dwelling service (households) (GFCF)7.3-6.2-3.70.60.40.20.9
¬¬ General government (GFCF)2.67.54.36.4-1.2-4.36.1
Acquisitions less disposals of valuables..7.25.5-4.50.19.0-4.2
Changes in stocks and statistical discrepancies2.03.2-21.8-12.216.714.3-15.9
Gross capital formation3.12.90.60.53.9-0.40.4
 
Final domestic use of goods and services2.42.10.90.11.30.40.5
Final demand from Mainland Norway (excl. changes in stocks)3.12.01.40.40.60.10.8
Final demand from general government2.02.50.71.3-0.10.01.9
 
Total exports1.7-0.21.50.3-1.22.0-0.3
¬ Traditional goods (export)1.72.01.20.05.02.0-1.7
¬ Crude oil and natural gas (export)5.1-4.80.30.6-2.1-2.5-1.8
¬ Ships, oil platforms and aircraft (export)5.0-38.2-1.4-21.8-69.5232.554.3
¬ Services (export)-2.15.43.21.2-4.75.51.4
 
Total use of goods and services2.21.41.00.20.60.80.3
 
Total imports1.91.93.2-1.01.43.30.4
¬ Tradisjonelle varer (import)3.83.22.30.01.46.8-1.2
¬ Crude oil and natural gas (import)28.039.05.0-8.26.6-19.30.5
¬ Ships, oil platforms and aircraft (import)-12.0-19.325.4-23.29.0-24.135.5
¬ Services (import)0.20.92.80.10.71.11.0
 
Gross domestic product, market values22.31.30.30.50.40.00.3
Gross domestic product Mainland Norway, market values22.02.20.50.41.00.50.7
 
Petroleum activities and ocean transport34.6-3.7-0.91.4-2.9-3.1-2.3
Gross domestic product Mainland Norway, basic values1.92.40.70.41.10.40.7
¬ Mainland Norway excluding general government (GDP)1.92.30.70.31.30.50.9
¬¬ Manufacturing and mining (GDP)0.00.81.00.81.50.31.6
¬¬ Production of other goods (GDP)2.92.0-1.8-0.53.6-1.41.3
¬¬ Service activities (GDP)2.02.61.30.40.61.00.6
¬ General government (GDP)1.62.60.60.70.60.20.4
Taxes and subsidies products2.91.0-0.30.40.11.00.1

About the statistics

The national accounts provide an overview of the state and development in the Norwegian economy. Key figures are gross domestic product (GDP), consumption, gross investment, exports and imports, employment and wages, profitability in industries and productivity. 1st to 3rd quarter is published with monthly national accounts in May, August and November. 4th quarter will be published February the following year, figures for t-2 in August.

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 monthly national accounts (MNA) are published about 40 days after the end of the given month.

The quarterly national accounts (QNA) are published about 40 days after the end of the given quarter. Quarterly figures are calculated as the sum of three months (from monthly national accounts).

The first estimates of the preliminary year is published about 40 days after the end of the year.

 

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 monthly figures are the basis for quarterly figures, quarterly figures are calculated as the sum of three months. Quarterly figures will be updated when publishing the third month in the quarter. This means that there may be deviations between the monthly and quarterly figures in the two months before the new quarter is calculated. The deviations will mainly apply to seasonally adjusted figures. In addition, the monthly publication includes a table showing rolling numbers for three and three months. The three-month growth is calculated by comparing a three-month period with the previous three-month period. For example, the volume change in the rolling table for July is given by comparing the period May-July with February-April. Figures for March, June, September and December will correspond to growth for a quarter.


All historical figures are consistent with both preliminary and final annual national accounts figures in fixed and current prices

The Norwegian Balance of Payments (BOP) is an integrated part of the Norwegian system of national accounts, and the BOP figures are fully consistent with other preliminary and final quarterly and annual national accounts figures. Furthermore, quarterly and annual national accounts figures are fully consistent and compatible with the institutional sector accounts. The regional national accounts, and various satellite accounts (environment, tourism, health,non-profit institutions) 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. Monthly national accounts does not include figures for employment etc..

Furthermore, the real accounts provide the basis for the calculation of the Gross Domestic Product (GDP) and other central macroeconomic measures. The annual growth in volume and price are calculated for most variables.

The non-financial sector accounts are based on institutional units. Institutional units are capable of providing a full set of accounts. The non-financial sector accounts describe all economic transactions in the various sectors. The accounts also provide information on the stocks financial and non-financial capital. Financial sector accounts are also based on institutional units. The institutional units are grouped in institutional sectors on the basis of their principal economic functions, behavior and objectives. The non-financial sector accounts are consistent with the real accounts. The further description of the national accounts covers the part of the national accounts that is based on the annual SUT (the real accounts).

The coverage of the preliminary annual and quarterly real accounts is the same as the final annual SUT

The accounting structure in the system that produces monthly, quarterly and preliminary annual figures (MNA) is, however, more aggregated than in the system that produces the final annual SUT. While the SUT in the annual accounts consists of about 130 industry groups and 700 product groups, the SUT in the MNA consists of about 80 industry groups and 120 product groups. The MNA and QNA system produces tables with seasonal adjusted figures for industries' value added, household consumption for aggregated consumption groups and for central macroeconomic measures. However, only tables for final expenditure and gross domestic product are published on a monthly basis, while the QNA contain more details.

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.

Monthly information is used for compiling monthly national accounts, such as the production index of industrial production, the index for retail sales, consumer price index, building statistics, producer price indices and much more. For some service industries where we lack explicit production indicators, monthly information about jobs, working days and absence is obtained from the A-ordning. For investments where we only have quarterly information, such as oil investments, quarterly figures are conventionally distributed by month. In the months before we get the so-called oil census, the development is used in the planned investment figures reported together with those performed for a quarter. In connection with the work on the QNA, quarterly information is incorporated and an update of the previous months is made. Quarterly national accounts will appear as the sum of the three months in the quarter.

The source statistics used to calculate national accounts are with a few exceptions produced by Statistics Norway.

Having the reporting responsibility to Eurostat, the Division for National Accounts occasionally documents the calculations for the final annual national accounts, see Norwegian National Accounts - GNI Inventory for ESA95.

In addition, there are a number of reports giving more detailed documentation of calculation of figures for various specific industry groups or other parts of the national accounts (mostly in Norwegian only).

The documentation report for the Quarterly national accounts gives an overview of central sources and methods used for quarterly accounts compilation. This will be updated in the autumn of 2018 to include monthly national accounts.

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 MNA and QNA

The majority of the short-term statistics produced by Statistics Norway are transferred to the MNA system by use of a direct link to the relevant databases. The information in the data sources about growth is used more or less directly in the MNA system. Some other input data series in the MNA system, however, are based more or less on calculations and estimations, using various types of information from Statistics Norway and other sources. Quarterly figures are calculated as the sum of three months

The national accounts data for a specific month, quarter or year are revised in accordance with an ordinary publication and revision cycle. The quarterly figures within a specific year t become final 21 months later after the end of the year t. In addition, periodical main revisions generate revised figures.

In the process of calculating MNA or QNA figures for a specific month or quarter, the short-term statistics source data are critically evaluated and compared with alternative sources (for some parts of the economy). In some cases, the information in the source statistics must be adjusted in order to satisfy the requirements of the quarterly national accounts. In the process to estimate MNA data estimated MNA figures are critically evaluated and controlled in many steps.

Monthly process

The figure below gives an overview of the Norwegian MNA and QNA estimation process. The figure shows that the MNA system is based on two main pillars: a) The SUT for the (final) annual national accounts and b) short-term statistics.

Figure 2. The computing system in the Norwegian MNA/QNA

knr1-en

The main principle in the MNA system is that the national accounts figures for the current quarter are computed based on the development of short-term indicators and the current-price figures from the base year. The base year (t-2) is the latest calculated final version of the annual national accounts. The method is the same for most common variables: The value in the base year is given the same growth rate (percentage change) as in the appropriate indicator, or a grouping of different relevant indicators.

A simple projection method, based on the development in previous periods, is used if an indicator does not cover the whole period from the base year to the current quarter.

The indicator compilations are made in the indicator process (box 2 in the figure).

However, the indicator process alone does not give a complete harmonised account at current and constant prices. To calculate values for variables that are not calculated in the indicator compilations, and to harmonise the accounts, we use an input-output model (box 3 in the figure).

The input-output model includes a commodity-flow balance, a price input-output system and a set of equations for summaries and definitions. It now comprises over 12 000 equations in total. The input-output coefficients are calculated from the SUT in the base year. The variables calculated in the indicator compilations are transferred to the input-output model as exogenous variables. To calculate balanced accounts at current prices we need price indices on all supply and use categories. These are computed in the model by weighting together product price indices with the input-output coefficients as weights. Each product gets three different price indices, one for resident output delivered to the home market (to resident users), a second for import and a third for export.

The price index for an industry’s total output is then calculated as a weighted average of the price indices for the home and export market using the input-output coefficients as weights. The price indices of intermediate consumption, final consumption expenditure and gross fixed capital formation are calculated in a similar way, using the import and home market price indices and the input-output coefficients.

The model also calculates variables which are not covered by short-term statistics or other information and therefore not calculated in the indicator process. These calculations are based on simple assumptions. For instance, intermediate consumption for most industries at constant prices (the total except FISIM) is assumed to be a fixed proportion of total output for the relevant industry. The distribution of intermediate consumption (except FISIM) on different products at constant prices is also assumed to be the same as in the base year. The industries’ use of FISIM as intermediate consumption is supposed to equal the growth in total output of FISIM services. Output in the retail and wholesale trade activities in constant prices is assumed to follow the development of the use of the various goods in constant prices, such as household consumption, intermediate consumption and gross fixed capital formation of the various specific goods (that means supposed fixed margins).

Changes in stock of separate products are (for most products) calculated as the difference between the total supply and use of the product. As in the annual NA, the changes in stock may be adjusted if that seems reasonable after an evaluation of the figures.

The results are stored in the time series database (box 4 in the figure), which, among other things, provides the basis for different sets of tables (box 6). At the moment there are two different sets of tables (with seasonal unadjusted figures), sets for internal checks and analyses of data and more aggregated sets of data for publishing.

Process 1-4 describes how the quarterly seasonally unadjusted figures are estimated. The unadjusted figures are seasonally adjusted (box 5) using a seasonal adjustment program.

The method adopted to compile the MNA is highly mechanical. This applies to the update of variables in the national accounts based on short-term statistics as well as the balancing of commodities, the computation of indirect taxes and factor incomes and the overall balancing of the GDP and main aggregates. Technically, the data systems are programmed in FAME and TROLL (the latter is used for the input-output model only).

Checks and/or the evaluation of data are, however, performed in several steps. The MNA system offers a unique opportunity to compare different types of input data. The evaluation of the different sources is done in close contact with the relevant statistics divisions in Statistics Norway. A more thorough evaluation is being done when processing and publishing quarterly figures, while the monthly process is more automated and less profound. Therefore, only final expenditure and gross domestic product are published on a monthly basis while the quarterly accounts offer more details.

Quarterly figures are calculated as the total of three months at quarterly releases. Quarterly figures will be updated only when publishing the third month in the quarter. This means that there may be a mismatch between the monthly and quarterly figures in the interim months. This applies mainly to seasonally adjusted numbers. That is, when you get a new observation (new month), it will normally affect the seasonally adjusted figures back in time. We do not update the QNA numbers that have also been sent to international organizations before the next quarters release. At the same time, we show figures for three-month growth. This is calculated by comparing a three-month period with the previous three-month period. For example, the volume change in July is given by comparing the period May-July with February-April. Figures for March, June, September and December will correspond to growth for a quarter. This means that users may get a continuous update of the quarterly figures by looking at the monthly publication.

Annual process and alignment

The MNA system is updated with a new base year every year (i.e. the latest final version of the annual accounts). The database for the annual accounts (box 1a), as well as the base data and coefficients in the harmonisation model (box 3) are updated. At the same time, it is possible to implement new indicators, carry out changes in the input series and in the model, etc. Such changes are not carried out in an ordinary monthly or quarterly process.

The recalculation of the monthly accounts is carried out by distributing the annual figures between the months using the original monthly figures as keys. The recalculated monthly accounts will then add up to the annual accounts at constant and current prices.

The harmonisation is based on the principle that the differences between the monthly changes to the original and harmonised series shall be as small as possible. The monthly accounts should add up to the figures in the annual accounts.

When the base year is updated the MNA for that year is aligned automatically.

Reference year

All figures are published at current prices and (for most sizes) constant prices (i.e. the accounts also specify volume and price changes). Constant-price estimates in the national accounts are calculated based on the previous year's prices; i.e. the base year is changed every year. Subsequently, data on volume changes are constructed in terms of growth rates and corresponding implicit data on changes in prices. In parallel, time series of volume figures are constructed by using prices from a reference year. The constant-price estimates are consistent with the data on changes in volume in the series of growth rates. Since the chaining is carried out separately for all items, the table components do not, however, necessarily add up to the totals of the same table.

The publication Quarterly national accounts gives more information about sources, methods and the processes used to calculate quaterly NA figures. This will be updated in the autumn of 2018 to include monthly national accounts.

 

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 monthly time series will exist back to 2016. Consistent quarterly time series will exist back to 1978 and annual time series back to 1970. Annual NA figures for the years 1865-1970 are based on the previous standards used for the national accounts and are not compatible with the up to date figures after the latest main revision of the NA.

Quarterly figures are calculated as the sum of three months. Quarterly figures will be updated only when publishing the third month in the quarter. This means that there may be mismatch between the monthly and quarterly figures in the interim months, see the description of the monthly process above.

Monthly figures, and thus quarterly figures, are aligned with the final annual national accounts figures, both in fixed and current prices. The other parts of the national accounts, such as income and capital accounts, and foreign accounts are also consistent and consistent with MNA.

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 month, quarter or year are revised in accordance with an ordinary publication and revision cycle. The monthly and quarterly figures within a specific year t have the status final 21 months after the end of the year. See Administrative information, Frequency and timeliness. In addition, periodical main revisions give revised figures. See Background and purpose. The table below shows the publication cycle for yearly and quarterly national accounts figures. In addition to what is stated in the table, monthly data will be published about 40 days after the end of the month. In May, year t (which coincides with the QNR for the first quarter), all months, also in year t-1, can be revised. After May year t, only the monthly figures for the current year are subject to revision.

Publication cycle for quarterly and yearly national accounts figures

Release date in:

 1st quarter year t

2nd quarter year t

3rd quarter year t

4th quarter year t

May, year t

First preliminary version

Revised 3 for year t-1

Revised 2 for year t-1

Revised 1 for year t-1

August, year t

Revised 1

Revised 5 for year t-1

Final for year t-2

First preliminary version

Revised 4 for year t-1

Final for year t-2

Revised 3 for year t-1

Final for year t-2

Revised 2 for year t-1

Final for year t-2

November, year t

Revised 2

Revised 1

First preliminary version

Revised 3 for year t-1

February, year t

Revised 3 for year t-1

Revised 2 for year t-1

Revised 1

First preliminary version for year t-1

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 months or quarters difficult. In order to adjust for these conditions, the quarterly national accounts are seasonally adjusted which makes it possible to conduct an analysis of the underlying change in economic activity between periods.

It is important to mention some factors of the seasonally adjustment of the MNA which has to be given specific attention compared to other short time economic indicators:

·        The series for the main aggregates in the MNA is a result of aggregation of many components. Statistics Norway has chosen that consistency between the components and the main aggregates also applies to the seasonally adjusted series to make it easy to identify which series contribute the most to the results.

·        Data may be exposed to some revisions each month as well as major revisions when the the preliminary national accounts are reconciled with final national accounts

Background information

·        To seasonally adjust the GDP (and all other aggregates) we use an indirect method. This is done in order to be able to explain the contributions to GDP-growth, and consensus is that this is the preferred method for this kind of data. Please see chapter below for more details on the direct vs. indirect approach to seasonal adjustment.

·          This method has given us some challenges related to the seasonally adjusted historical series. The reason is that series older than the base year are not additive. When a new base year is established, and the time series are updated, we use identical seasonal adjustment factors as before. This means that changes in seasonally adjusted data are only due to changes in the unadjusted data.

·          We use information from the entire period of the time series to estimate seasonal adjustment factors, but we use this information only from the year before the base year to the present.

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

Seasonally adjusted series

Over a thousand series are seasonally adjusted every month. The series are adjusted at a disaggregated level and then summed up to the main aggregates.

The series for gross value added at industry level are adjusted directly, as opposed to being calculated as the difference between production and intermediate consumption.

For final consumption expenditure of households, the series are seasonally adjusted by applying the seasonal factors that are estimated for the index of household consumption of goods (see the documentation for seasonal adjustment of the index of household consumption of goods).

 

Pre-treatment

Pre-treatment routines/schemes

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

  • We run a pre-treatment of some series/main series.

Calendar adjustment

Calendar adjustment involves adjusting for the effects of working days/trading days and for moving holidays. Working days/trading days adjustments are made for both the number of working days/trading days and for the varying composition of days from one month to another.

  • It is performed calendar adjustments on all series showing significant and plausible calendar effects within a statistically robust approach, such as regression or RegARIMA (a regression model with an ARIMA structure for the residuals).

Methods for trading/working day adjustment

  • RegARIMA correction – in this case, the effect of trading days is estimated in a RegArima framework. The effect of trading days can be estimated by using a correction for the length of the month or leap year, regressing the series on the number of working days, etc. In this case, the residuals will have an ARIMA structure.

Correction for moving holidays

  • We run an automati correction with X-12-ARIMA. The utomatic correction of raw data will be based on Norwegian holidays.

National and EU/euro area calendars

  • Use of the Norwegian calendar with X-12-ARIMA.

Treatment of outliers

Outliers, or extreme values, are abnormal values of the series

  • Outliers are detected automatically by the seasonal adjustment tool. The outliers are removed before seasonal adjustment is carried out, and then reintroduced into the seasonally adjusted data.

Model selection

Pre-treatment requires choosing an ARIMA model, as well as deciding whether the data should be log-transformed or not.

Decomposition scheme

The decomposition scheme specifies how the various components – basically trend-cycle, seasonal and irregular – combine to form the original series. The most frequently used decomposition schemes are the multiplicative and additive.

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

Comments : Additive decomposition is used for series with (potential) negative values or values equal zero, otherwise multiplicative decomposition is used.

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.

 

Consistency between aggregate/definition of seasonally adjusted data

In some series, consistency between seasonally adjusted aggregates and its components is imposed. For some series there is also a special relationship between the different series, e.g. GDP which equals production minus intermediate consumption.

  • Definitions and relationships that hold for unadjusted figures also apply for seasonally adjusted figures.

Comments : The supply side equals the use side also for seasonally adjusted figures. This implies that changes in stocks/statistical discrepancies are treated as a residual in the seasonally adjusted figures (balancing item). The series for gross value added are adjusted directly (see chapter 1.3) and are not required to match the difference between seasonally adjusted series for production and intermediate consumption (thus, vertical – not horizontal – consistency is imposed).

Direct versus indirect approach

Direct seasonal adjustment is performed if all time series, including aggregates, are seasonally adjusted on an individual basis. Indirect seasonal adjustment is performed if the seasonally adjusted estimate for a time series is derived by combining the estimates for two or more directly adjusted series.

  • Mixed indirect approach is applied

Comments : MNA uses aggregation routines outside X-12-ARIMA.

Horizon for estimating the model and the correction factors

When performing seasonal adjustment of a time series, it is possible to choose the period to be used in estimating the model and the correction factors. Correction factors are the factors used in the pre-treatment and seasonal adjustment of the series.

  • The whole time series is used to estimate the model and the correction factors

 

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

 

Concurrent versus current adjustment

  • The model, filters, outliers and regression parameters are re-identified and re-estimated as new or revised data become available.

Horizon for published revisions

  • The individual series will be revised when seasonal factors are re-estimated. Concerning the main aggregates the period of revisions is limited from the base year to the present.

Comments : This applies as long as the unadjusted figures before the base year remains unchanged. When a new base year is established, and the time series are updated, we use identical seasonal adjustment factors as before. This means that changes in seasonally adjusted data are only due to changes in the unadjusted data.

Quality of seasonal adjustment

Evaluation of seasonally adjustment data

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

 

Special cases

All series are sufficiently long to perform a seasonal adjustment.

 

Posting procedures

Data availability

  • Both unadjusted (raw), seasonally adjusted and sum rolling three months data are available.

Press releases

  • In addition to raw data, at least one of the following series is released: pre-treated, seasonally adjusted, seasonally plus working day adjusted trend-cycle series.
  • Both levels and growth rates are presented.
  • Empirical values are presented to evaluate revisions of data in earlier press releases.

References