Commodity market report
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7 Pages

Norway economic outlook Q2 2015

Norway economic outlook Q2 2015

Report summary

Oil and gas is an important sector in the Norwegian economy. More than a fifth of Norway's Gross Value Added is generated from oil and gas extraction and related services. Lower oil prices will slow economic growth to 0.5% in 2015, from 2.2% last year. Over the longer term Norway will need to further diversify from hydrocarbons. Post-2020, declining investment in the upstream sector, lower production and exports of natural gas and crude oil will weigh on GDP.

What's included?

This report includes 2 file(s)

  • Norway economic outlook Q2 2015 PDF - 369.47 KB 7 Pages, 1 Tables, 11 Figures
  • Country economic data Norway Q2 2015.xls XLS - 138.00 KB


This Economic Outlook presents our macroeconomic outlook to 2035 at the country level.

Specifically we assess the structure of the economy and present the GDP and industrial production outlook.

The long-term outlook is underpinned by a set of GDP models which take account of long-term structural drivers of GDP including demographics, investment and productivity growth.

Finally, we highlight the key risks facing our outlook, both upside and downside.

Wood Mackenzie's macroeconomic forecasts underpin all our commodity demand analysis, ensuring we continually deliver an integrated and consistent view.

  • Executive summary
  • Market structure
  • Policy and regulation
  • Economic outlook
  • Risks and uncertainties

In this report there are 12 tables or charts, including:

  • Executive summary
    • Economic indicators
  • Market structure
    • Gross value added by sector
    • GDP by expenditure
    • Exports by product
  • Policy and regulation
    • Fiscal balance and government debt
    • Sovereign wealth
    • Current account balance
    • Foreign exchange reserves
  • Economic outlook
    • Upstream revenue
    • Upstream oil and gas capex
    • GDP growth
    • Population
  • Risks and uncertainties
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