Over the past decade, the rate of GDP has experienced an average annual growth rate of 3.9% p.a. The growth in the economy has generally been high and erratic over the period, with relatively high decline during the worst year of the financial crisis. In 2018, the rate of growth for GDP stood at 6.6%..
Industrial production (as measured by IPI) in Norway has struggled over the course of the last decade, often posting rates of decline. Furthermore, periods of growth for industrial production are fairly minimal in comparison to the levels of decline that has been experienced, most notably around the financial crisis.
Within the 2018-2023 timeframe, gasworld business intelligence predict growth from 2.3% p.a. in a low scenario to 4.5% p.a. in a high scenario. Accordingly, the industry in Norway is expected to achieve revenues of between $398m to $442m by 2023.
Published: 2020
Report Data: 2019
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