Mining, manufacturing, and utilities contributed 41.7% to the gross value added (GVA) in 2023, followed by financial intermediation, real estate, and business activities (12.4%) and wholesale, retail, and hotels (6.1%). In nominal terms, the three sectors are forecast to grow by 4.5%, 5.3%, and 5.2%, respectively, in 2024.
Three major cities in Norway generated 39.9% of the country’s GDP in 2023 and comprised 33.5% of the country’s population, as of 2023.
The OBX Index exhibited an upward trend over the past year. As of March 5, 2024, the index stood at 1,181.3, compared to 1,144.2 on March 5, 2023.
This report also highlights key clusters/cities which contribute significantly to the country GDP and population along with major companies’ presence in these areas.
Three major cities in Norway generated 39.9% of the country’s GDP in 2023 and comprised 33.5% of the country’s population, as of 2023.
The OBX Index exhibited an upward trend over the past year. As of March 5, 2024, the index stood at 1,181.3, compared to 1,144.2 on March 5, 2023.
Scope
From 2024 to 2041, Norway's government will allocate 25% of the state budget for maintenance and renewal, including 40 nationwide projects for landslides, road improvements, and rail infrastructure expansion.Reasons to Buy
Macroeconomic Outlook Report identifies the potentials of the country as an investment destination by analyzing the political, economic, social, technological, legal and environmental (PESTLE) structure.PESTLE Insights provides 360 degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials and direction of operations
Along with providing the country’s snapshot, the report captures the risk factors pertaining to the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure and natural and geographic aspects that might impact business.This report also highlights key clusters/cities which contribute significantly to the country GDP and population along with major companies’ presence in these areas.
Table of Contents
- List of Exhibits
- Did You Know?
- Country Highlights
- Key Economic Updates
- Country Snapshot
- Political Landscape
- Economic Landscape
- Social Landscape
- Technological Landscape
- Legal Landscape
- Environmental Landscape
- Outlook
- Exhibit 1: Norway's performance in country risk analysis in comparison to West Europe and World average
- Exhibit 2: Performance overview (score: 1-100)
- Exhibit 3: Broad categories and weights behind the index
- Exhibit 4: Norway Stock Exchange Index - OBX Index
- Exhibit 5: Key sectors’ contribution to the economy
- Exhibit 6: FDI inflows and FDI inward stock (2018-22)
- Exhibit 7: Greenfield FDI projects and net cross border M&A deals (2018-22)
- Exhibit 8: Key infrastructure indicators
- Exhibit 9: Real GDP and household consumption growth rate (2019-26f)
- Exhibit 10: Real GDP growth rate comparison (2023e)
- Exhibit 11: Volume of exports and imports growth (2019-26f)
- Exhibit 12: Current account balance (2019-26f)
- Exhibit 13: Top three commodity exports, % of total exports (2018-22)
- Exhibit 14: Mineral fuels, mineral oils and products of their distillation export, % of world total (2022)
- Exhibit 15: Interest rates (January 2020 - January 2024)
- Exhibit 16: Exchange rate and inflation (2019-26f)
- Exhibit 17: General government deficit (2019-26f)
- Exhibit 18: General government debt (2019-26f)
- Exhibit 19: Unemployment rate (2019-26f)
- Exhibit 20: Labor force participation rate (2019-26f)
- Exhibit 21: Average annual wages (2019-26f)
- Exhibit 22: Rural/urban share of total population (1995, 2005, 2015, 2025f)
- Exhibit 23: Age-group share of total population (1995, 2005, 2015, 2025f)
- Exhibit 24: Gender split (1995, 2005, 2015, 2025f)
- Exhibit 25: Internet users as a percentage of total population, mobile penetration rate and broadband penetration rate (2023e)
- Exhibit 26: Number of patents granted per million population (2022)
- Exhibit 27: High-technology exports, % of manufactured exports (2022)
- Exhibit 28: Index of economic freedom (rankings) 2024
- Exhibit 29: Corruption perceptions index (rankings) (2023)
- Exhibit 30: Renewable energy capacity (2018-23)
- Exhibit 31: CO2 emissions (2018-22)
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Orkla
- Sparebank
- Nordic mining
