Macroeconomic Outlook Report: Norway

Macroeconomic Outlook Report: Norway

Summary

Mining, manufacturing, and utilities contributed 35.8% to the gross value added (GVA) in 2024, followed by financial intermediation, real estate, and business activities (18.4%) and wholesale, retail, and hotels (8.3%). In nominal terms, the three sectors are forecast to grow by 3.8%, 5.1%, and 9.3%, respectively, in 2025.

Three major cities in Norway generated 35.0% of the country’s GDP in 2024 and comprised 33.3% of the country’s population as of 2024, according to GlobalData’s cities database.

The ISEQ Index exhibited an upward trend over the past year. As of June 2, 2025, the index stood at 1,483.6, compared to 1,349.02 on June 2, 2024.

Scope

• Macroeconomic Country Outlook Reports evaluate a country's investment potential through its political, economic, social, technological, legal, and environmental (PESTLE) framework. This comprehensive analysis offers a holistic view of the economy, serving as a strategic tool to understand market dynamics, business potential, and operational direction. Each PESTLE factor is examined based on four parameters: current strengths, current challenges, future prospects, and future risks. These insights support strategic planning by highlighting opportunities and risks within the economy, helping businesses and investors make informed decisions. The report aims to provide a detailed understanding of the country's macroeconomic environment to facilitate effective decision-making and strategy development.

• Macroeconomic Outlook Report identifies the potentials of the country as an investment destination by analyzing the political, economic, social, technological, legal and environmental (PESTLE) structure.
• PESTLE Insights provides 360 degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials and direction of operations
• Along with providing the country’s snapshot, the report captures the risk factors pertaining to the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure and natural and geographic aspects that might impact business.
• This report also highlights key clusters/cities which contribute significantly to the country GDP and population along with major companies’ presence in these areas.