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Country Forecast Norway Updater Product Image

Country Forecast Norway Updater

  • ID: 2114053
  • September 2014
  • Region: Norway
  • 16 Pages
  • The Economist Intelligence Unit

The ruling right-of-centre minority government, which comprises the Conservatives and the Progress Party, will receive parliamentary support from two smaller centrist parties, the Liberals and the Christian Democrats. The centrist parties opted not to join the coalition formally (largely because of concern about a coalition with the Progress Party). However, their presence will constrain any significant alterations to the existing policy framework, which The Economist Intelligence Unit expects to remain moderate and centrist.

Although Norway faces long-term problems because of its falling birth rate and ageing population, the country's demographic profile will be comparatively favourable in the short to medium term. With the anti-immigration Progress Party in government, debate about whether to continue to allow in large numbers of refugees and other non-European immigrants is likely to feature prominently on the political agenda. However, immigration from the European Economic Area (EEA) is likely to persist.

Annual GDP growth is forecast to average 2.9% in 2014-18, above the EU average. Growth will continue to be supported by private consumption and petroleum investment. Although there has been a long-term trend of declining petroleum output-and investment is expected to drop substantially in 2015-higher gas production has compensated to a degree, and there is potential for new fields to come on stream towards the end of the decade. The general government budget and current-account balances will stay comfortably in surplus, underpinned by oil and gas export earnings.

Country Forecast Norway Updater

Country forecast overview: Highlights

Country forecast overview: Key indicators

Country forecast overview: Business environment rankings

Country forecast overview: Norway's business environment at a glance
Policy towards private enterprise and competition
Policy towards foreign investment
Foreign trade and exchange controls
The labour market

Fact sheet

Outlook for 2014-18: Political stability

Outlook for 2014-18: Election watch

Outlook for 2014-18: International relations

Outlook for 2014-18: Policy trends

Outlook for 2014-18: Fiscal policy

Outlook for 2014-18: Monetary policy

Outlook for 2014-18: Economic growth

Outlook for 2014-18: Inflation

Outlook for 2014-18: Exchange rates

Outlook for 2014-18: External sector

Data summary: Global outlook

Data summary: Gross domestic product, current market prices

Data summary: Gross domestic product, at constant prices

Data summary: Gross domestic product by sector of origin

Data summary: Growth and productivity

Data summary: Economic structure, income and market size

Data summary: Fiscal indicators

Data summary: Monetary indicators

Data summary: Employment, wages and prices

Data summary: Current account and terms of trade

Data summary: Foreign direct investment

Data sources and definitions
Global data
Domestic data

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