The Norwegian economic territory consists of mainland Norway, Svalbard, Jan Mayen, Norwegian dependencies, territorial waters, including the airspace above them, etc. A separate GDP is calculated for mainland Norway — GDP Mainland, which measures a change in the value of all goods and services produced domestically (domestic principle). This GDP does not include the largely petroleum-based offshore areas and logistics. Prices are adjusted for inflation. This index variant reflects the growth of quarterly GDP in comparison with the previous quarter.
There are three approaches to the calculation of GDP: from production perspective, in terms of revenues received and in terms of expenditures incurred.
All three approaches are applied in the Norway's GDP calculation. The source data for the GDP calculation is taken from National Accounts, which include producer and consumer price indices, retail price data, production output data, labor market indicators, data on household income, etc. To separate the real change in GDP from inflationary processes, a deflator is additionally applied. In addition, data is seasonally adjusted to smooth out seasonal effects that can greatly distort data on short-term changes in GDP.
GDP is the main measure of the country's economy strength. The indicator often has a strong impact on market movements. Stable Mainland GDP growth means the sustainability of both the economic and financial system. Therefore, it can be seen as positive for the NOK quotes.
The chart of the entire available history of the "Norway Gross Domestic Product (GDP) Mainland q/q" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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The Calendar data are provided as is. The economic news release frequency and schedule, as well as the economic parameters' values may change without our knowledge. You can use the provided information, but you accept all the risks associated with making trade decisions based on the Calendar data.