Norway: Macroeconomic Outlook Report

Norway: Macroeconomic Outlook Report

Summary

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.

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.