Norway – GDP 1Q2014

by Eduardo Petazze

Mainland Norway’s gross domestic product (GDP) was up 0.48% Q/Q in the 1Q2014Norway’s GDP grew by 0.31% Q/Q (+3.95% Y/Y) in the 1Q2014

By 2014 it is estimated that GDP will grow by 1.61%, from 0.65% in 2013

Link: Quarterly national accounts, Q1 2014Summary

Production approach

Expenditure approach

NSAGDP, SA Y/YO&G and transport Mainland activities

GVA Taxes GDP Y/YO&G Y/Y Pipelines Ocean Mfg. Trade Other Total Y/Y

2011 639,160 -2.46% 16,004 28,352 180,030 188,192 1,395,711 1,763,933 1.88% 2,447,449 292,628 2,740,077 0.93% 2,741,426 0.68%2012 636,492 -0.42% 17,119 30,694 185,369 193,760 1,463,757 1,842,886 4.48% 2,527,191 303,259 2,830,450 3.30% 2,828,783 3.19%2013 612,723 -3.73% 16,186 31,719 191,597 196,850 1,490,182 1,878,629 1.94% 2,539,257 309,497 2,848,754 0.65% 2,849,678 0.74%2014 614,920 0.36% 15,843 31,732 196,968 199,218 1,523,377 1,919,563 2.18% 2,582,058 312,557 2,894,614 1.61% 2,891,557 1.47%

Own estimateNSA

GDP, SA Q/QO&G and transport Mainland activitiesGVA Taxes GDP Y/Y

O&G Y/Y Pipelines Ocean Mfg. Trade Other Total Y/Y2011K1 171,303 -4.89% 4,520 6,764 47,025 44,745 346,561 438,331 1.54% 620,918 70,111 691,029 -0.15% 682,587 -0.21%2011K2 143,568 -10.88% 3,220 7,644 43,977 48,264 344,135 436,376 2.51% 590,808 73,698 664,506 -0.50% 681,747 -0.12%2011K3 150,602 7.28% 3,504 7,287 42,499 46,357 350,605 439,461 3.60% 600,854 74,042 674,896 4.61% 693,096 1.66%2011K4 165,415 -4.76% 4,295 7,462 47,004 50,669 368,301 465,974 3.60% 643,146 77,203 720,349 1.51% 694,217 0.16%2012K1 174,123 1.65% 4,877 7,457 48,162 46,570 363,412 458,144 4.52% 644,601 72,198 716,799 3.73% 707,565 1.92%2012K2 158,207 10.20% 4,063 8,097 44,740 48,165 357,655 450,560 3.25% 620,927 75,429 696,356 4.79% 711,503 0.56%2012K3 142,538 -5.35% 3,632 7,902 44,007 47,060 362,173 453,240 3.14% 607,312 76,076 683,388 1.26% 702,907 -1.21%2012K4 161,624 -2.29% 4,547 7,238 48,460 51,965 380,517 480,942 3.21% 654,351 79,556 733,907 1.88% 706,808 0.55%2013K1 153,834 -11.65% 4,366 7,628 46,602 46,249 363,839 456,690 -0.32% 622,518 73,999 696,517 -2.83% 704,870 -0.27%2013K2 151,462 -4.26% 3,967 8,644 49,064 50,109 370,067 469,240 4.15% 633,313 77,902 711,215 2.13% 712,184 1.04%2013K3 147,309 3.35% 3,619 8,048 46,267 48,430 368,019 462,716 2.09% 621,692 77,019 698,711 2.24% 717,138 0.70%2013K4 160,118 -0.93% 4,234 7,399 49,664 52,062 388,257 489,983 1.88% 661,734 80,577 742,311 1.15% 715,486 -0.23%2014K1 161,551 5.02% 4,354 7,532 50,222 47,556 378,265 476,043 4.24% 649,480 74,534 724,014 3.95% 717,729 0.31%2014K2 148,288 -2.10% 3,728 8,599 49,442 50,451 377,845 477,738 1.81% 638,353 78,891 717,244 0.85% 727,529 1.37%2014K3 144,963 -1.59% 3,527 8,202 47,639 49,149 379,010 475,799 2.83% 632,491 78,554 711,045 1.77% 730,813 0.45%2014K4 159,739 -0.24% 4,238 7,825 52,043 53,310 398,647 504,000 2.86% 675,801 82,244 758,046 2.12% 730,450 -0.05%

Last dataOwn estimate

(2011) Prices, Million NOK

(2011) Prices, Million NOK

Final consumption expenditure GFCF Exports Imports GDP MainlandPrivate Gov. Total Q/Q Value Q/Q Value Q/Q Value Q/Q Value Q/Q Value Q/Q

2011K1 280,314 146,952 427,266 0.60% 134,673 5.31% 38,435 285,778 -1.23% 203,565 8.32% 682,587 -0.21% 512,071 0.93%2011K2 282,560 147,525 430,085 0.66% 131,793 -2.14% 23,017 284,674 -0.39% 187,823 -7.73% 681,746 -0.12% 518,495 1.25%2011K3 283,141 149,248 432,389 0.54% 136,038 3.22% 18,499 296,250 4.07% 190,079 1.20% 693,097 1.66% 521,435 0.57%2011K4 285,752 148,398 434,150 0.41% 136,733 0.51% 34,099 286,667 -3.23% 197,432 3.87% 694,217 0.16% 524,589 0.60%2012K1 288,046 148,571 436,617 0.57% 140,383 2.67% 30,195 295,859 3.21% 195,489 -0.98% 707,565 1.92% 530,627 1.15%2012K2 290,809 150,196 441,005 1.00% 143,347 2.11% 29,351 299,099 1.10% 201,299 2.97% 711,503 0.56% 534,481 0.73%2012K3 292,774 151,795 444,569 0.81% 147,644 3.00% 25,912 285,328 -4.60% 200,546 -0.37% 702,907 -1.21% 539,244 0.89%2012K4 294,223 152,131 446,354 0.40% 152,324 3.17% 21,134 285,936 0.21% 198,941 -0.80% 706,807 0.55% 540,569 0.25%2013K1 297,540 152,928 450,468 0.92% 150,262 -1.35% 26,425 277,401 -2.98% 199,686 0.37% 704,870 -0.27% 543,831 0.60%2013K2 297,650 153,043 450,693 0.05% 161,757 7.65% 19,874 284,571 2.58% 204,711 2.52% 712,184 1.04% 545,341 0.28%2013K3 297,726 153,433 451,159 0.10% 160,821 -0.58% 26,711 286,635 0.73% 208,188 1.70% 717,138 0.70% 548,104 0.51%2013K4 298,682 154,237 452,919 0.39% 159,990 -0.52% 29,185 278,880 -2.71% 205,488 -1.30% 715,486 -0.23% 550,822 0.50%2014K1 301,049 155,614 456,663 0.83% 157,033 -1.85% 20,682 283,399 1.62% 200,048 -2.65% 717,729 0.31% 553,459 0.48%2014K2 303,790 156,091 459,881 0.70% 165,238 5.23% 24,175 284,238 0.30% 206,004 2.98% 727,529 1.37% 561,562 1.46%2014K3 305,025 156,491 461,516 0.36% 169,563 2.62% 25,626 284,221 -0.01% 210,113 1.99% 730,813 0.45% 564,252 0.48%2014K4 305,430 157,074 462,504 0.21% 170,534 0.57% 27,881 279,923 -1.51% 210,392 0.13% 730,450 -0.05% 565,821 0.28%

Last dataOwn estimate

SA, million (2011) NOK

Stock & residual