Norway PESTLE Insights - A Macroeconomic Outlook Report

Norway PESTLE Insights - A Macroeconomic Outlook Report

Summary

According to GlobalData estimates, mining, manufacturing and utilities activities contributed 28.4% towards GVA, followed by financial intermediation, real estate and business activities (15.3%), and wholesale, retail and hotels utilities (7.4%) in 2022. The three sectors are forecast to grow by 4.1%, 2.9%, and 3.7%, respectively, in 2023.

Three major regions in Norway generated 69.6% of the country’s GDP in 2020 (latest available data), and comprised 75.4% of the country’s population, as of 2021.

The OBX Index exhibited a volatile trend over past year. As of March 9, 2023, the Index stood at 1,134.2, compared to 1,074.2 on March 9, 2022.

Scope

• In 2022, the government introduced a plan to invest NOK1.2 trillion ($125 billion) on infrastructure projects during the period 2022-33

• 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.