Norway GDP Growth Rate (YoY)
Norway's year-on-year GDP growth contracted by 2.1% in Q2 2025, a decrease from the 0.3% decline in Q1 2025. This downturn was driven by a 2.0% fall in petroleum activities and ocean transport and a 5.2% decrease in fixed investment during Q1. Household consumption growth also slowed to 0.2% in Q2 from 1.9% in Q1. Norway's record low GDP growth (YoY) was -4.1% in Q2 2020 and record high was 5.8% in Q4 2021.
Quarterly Historical Data (2015-2025)
(in %)Recent Events
Norway GDP Growth Rate (YoY) : Definition
Norway's year-on-year quarterly GDP growth rate is the percentage change in the total value of goods and services produced in Norway between a given quarter and the same quarter in the preceding year. It is calculated by dividing the difference between the current quarter's GDP and the previous year's corresponding quarter GDP by the previous year's GDP value and multiplying by 100. GDP components include household consumption, business investment, government spending and net exports.