2025.08.2106:21:03UTC+00Norway GDP Growth Rate Accelerates in Q2

In the second quarter of 2025, the Norwegian economy experienced a quarter-on-quarter growth of 0.8%, improving from a revised growth of 0.1% in the prior quarter. This marks the second straight quarter of expansion, bolstered by a resurgence in petroleum activities and ocean transport, which grew by 1.4% compared to a decline of 2.0% in the first quarter. Additionally, fixed investment made a robust recovery, rising by 4.6% against a previous drop of 5.2%. Government expenditure also saw an uptick, increasing by 0.5% following a 0.3% rise in the previous quarter. The export sector strengthened with a 0.8% increase after a 2.2% decrease, while imports fell by 0.6% compared to a decline of 2.6%, collectively aiding GDP growth. Household consumption continued to rise, albeit at a slower rate of 0.2% as opposed to the 1.9% growth seen earlier. On an annual basis, GDP contracted by 2.1% in the June quarter, succeeding a revised 0.3% decrease in the preceding quarter.