Norway M2 Growth

1993 - 2023 | Monthly | % | CEIC Data

Key information about Norway M2 Growth

  • Norway Money Supply M2 dropped 0.7 % YoY in Jul 2023, compared with a drop of -2.0 % in the previous month
  • Norway Money Supply M2 growth data is updated monthly, available from Dec 1993 to Jul 2023
  • The data reached an all-time high of 17.5 % in Oct 2007 and a record low of -4.6 % in Dec 2008

CEIC calculates M2 Growth Rate from monthly M2. Statistics Norway provides M2 in local currency.


Further information about Norway M2 Growth

  • In the latest reports, Norway Foreign Exchange Reserves was measured at 71.9 USD bn in Jul 2023
  • The Foreign Exchange Reserves equaled 10.1 Months of Import in Jul 2023
  • Norway Domestic Credit reached 707.4 USD bn in Jul 2023, representing an increased of 4.4 % YoY
  • The country's Non Performing Loans Ratio stood at 0.5 % in Dec 2021, compared with the ratio of 0.5 % in the previous year
  • Household Debt of Norway reached 434.1 USD bn in Mar 2023, accounting for 81.9 % of the country's Nominal GDP

View Norway's M2 Growth from Dec 1993 to Jul 2023 in the chart:

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Norway M2 Growth
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Norway M2 Growth

What was Norway's M2 Growth in Jul 2023?

Norway Money Supply M2 dropped 0.7 % YoY in Jul 2023, compared with a drop of -2.0 % in the previous month See the table below for more data.

Last Previous Min Max Unit Frequency Range
-0.7 Jul 2023 -2.0 Jun 2023 -4.6 Dec 2008 17.5 Oct 2007 % monthly Dec 1993 - Jul 2023

M2 Growth by Country Comparison

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country/region Last Frequency Range
Albania (%) 2.3 Jul 2023 monthly Dec 1994 - Jul 2023
Algeria (%) 11.2 Sep 2022 monthly Jan 2002 - Sep 2022
Argentina (%) 87.8 Jun 2023 monthly Jan 1991 - Jun 2023
Armenia (%) 11.0 May 2023 monthly Jan 2003 - May 2023
Australia (%) 3.9 Jul 2023 monthly Mar 1966 - Jul 2023
Austria (%) -1.4 Jul 2023 monthly Sep 1998 - Jul 2023
Azerbaijan (%) 19.7 May 2023 monthly Dec 1996 - May 2023
Bahrain (%) 3.5 Jul 2023 monthly Dec 1975 - Jul 2023
Bangladesh (%) 9.7 Jul 2023 monthly Jun 1987 - Jul 2023
Belarus (%) 34.8 Jul 2023 monthly Dec 1990 - Jul 2023
Belgium (%) -1.6 Jul 2023 monthly Dec 1997 - Jul 2023
Bolivia (%) 7.0 Jul 2023 monthly Dec 1988 - Jul 2023
Bosnia and Herzegovina (%) 8.3 Jul 2023 monthly Aug 1998 - Jul 2023
Botswana (%) 3.9 Jun 2023 monthly Jan 2002 - Jun 2023
Brazil (%) 17.0 Jul 2023 monthly Jan 1971 - Jul 2023
Bulgaria (%) 11.4 Jun 2023 monthly Dec 1996 - Jun 2023
Cambodia (%) 10.3 Jul 2023 monthly Jan 1996 - Jul 2023
Canada (%) 2.3 Jun 2023 monthly Jan 1969 - Jun 2023
Chile (%) 6.2 Aug 2023 monthly Jan 1987 - Aug 2023
China (%) 10.6 Aug 2023 monthly Mar 1997 - Aug 2023
Colombia (%) 7.8 Jul 2023 monthly Dec 1980 - Jul 2023
Croatia (%) 16.5 Jul 2023 monthly Jun 1995 - Jul 2023
Cyprus (%) -5.2 2014 yearly 2006 - 2014
Czech Republic (%) 9.0 Jul 2023 monthly Jan 2003 - Jul 2023
Denmark (%) 3.4 Aug 2017 monthly Jan 1996 - Aug 2017
Ecuador (%) 7.2 Jun 2023 monthly Dec 2007 - Jun 2023
Egypt (%) 24.4 Jul 2023 monthly Jan 1997 - Jul 2023
Estonia (%) 3.3 Jul 2023 monthly Jan 2012 - Jul 2023
European Union (%) -1.2 Jul 2023 monthly Jan 1981 - Jul 2023
Finland (%) -5.1 Jul 2023 monthly Jan 1981 - Jul 2023
France (%) -0.4 Jul 2023 monthly Dec 1978 - Jul 2023
Georgia (%) 31.5 Jul 2023 monthly Oct 1996 - Jul 2023
Germany (%) -0.1 Jul 2023 monthly Jan 1970 - Jul 2023
Ghana (%) 39.7 Mar 2023 quarterly Mar 1991 - Mar 2023
Greece (%) 1.4 Jul 2023 monthly Jan 2002 - Jul 2023
Hong Kong SAR, China (%) 2.3 Jul 2023 monthly Dec 1981 - Jul 2023
Hungary (%) -4.5 Jul 2023 monthly Jan 1999 - Jul 2023
Iceland (%) 6.4 Jul 2023 monthly Sep 1987 - Jul 2023
India (%) 12.2 Jun 2023 monthly Mar 1995 - Jun 2023
Indonesia (%) 6.4 Jul 2023 monthly Feb 1969 - Jul 2023
Iran (%) 34.5 Nov 2022 monthly Dec 2000 - Nov 2022
Ireland (%) 1.1 Jul 2023 monthly Jan 2000 - Jul 2023
Israel (%) -7.3 Jun 2023 monthly Apr 1982 - Jun 2023
Italy (%) -5.7 Jul 2023 monthly Dec 1975 - Jul 2023
Ivory Coast (%) 10.4 Jun 2023 monthly Jan 2005 - Jun 2023
Japan (%) 2.5 Aug 2023 monthly Jan 1968 - Aug 2023
Jordan (%) 2.5 Jul 2023 monthly Jan 1991 - Jul 2023
Kazakhstan (%) 15.3 Jul 2023 monthly Dec 1994 - Jul 2023
Kenya (%) 8.5 Jun 2023 monthly Dec 1996 - Jun 2023
South Korea (%) 3.0 Jun 2023 monthly Jan 1971 - Jun 2023
Kosovo (%) 11.7 2022 yearly 2002 - 2022
Kuwait (%) 4.4 Jun 2023 monthly Jan 1995 - Jun 2023
Kyrgyzstan (%) 21.6 Jun 2023 monthly Jan 1995 - Jun 2023
Laos (%) 27.5 Jun 2023 quarterly Dec 2000 - Jun 2023
Latvia (%) 4.2 Jul 2023 monthly Jan 2015 - Jul 2023
Lebanon (%) 52.3 May 2023 monthly Dec 1980 - May 2023
Lithuania (%) 7.6 Jul 2023 monthly Dec 1994 - Jul 2023
Luxembourg (%) -7.8 Jul 2023 monthly Jan 2000 - Jul 2023
Macau SAR, China (%) 6.4 Jul 2023 monthly Jun 1985 - Jul 2023
North Macedonia (%) 8.5 Jul 2023 monthly Jan 2004 - Jul 2023
Malawi (%) 36.0 Jun 2023 monthly Jan 1976 - Jun 2023
Malaysia (%) 3.5 Jul 2023 monthly Dec 1970 - Jul 2023
Malta (%) 3.2 Jul 2023 monthly Jan 2009 - Jul 2023
Mauritius (%) 5.4 Jun 2023 monthly Jul 1977 - Jun 2023
Mexico (%) 8.8 Jul 2023 monthly Dec 1986 - Jul 2023
Moldova (%) 29.0 Jul 2023 monthly Jan 2001 - Jul 2023
Mongolia (%) 18.5 Jul 2023 monthly Dec 1997 - Jul 2023
Montenegro (%) 22.9 2022 yearly 2003 - 2022
Morocco (%) 8.7 Jul 2023 monthly Jan 1986 - Jul 2023
Mozambique (%) 5.2 Jul 2023 monthly Dec 2002 - Jul 2023
Myanmar (%) -0.7 Sep 2022 quarterly Dec 2002 - Sep 2022
Nepal (%) 11.4 Jul 2023 monthly Jan 2002 - Jul 2023
Netherlands (%) -1.0 Jul 2023 monthly Dec 1957 - Jul 2023
New Zealand (%) 3.2 Jul 2023 monthly Mar 1989 - Jul 2023
Nigeria (%) 34.4 Jul 2023 monthly Nov 1993 - Jul 2023
Norway (%) -0.7 Jul 2023 monthly Dec 1993 - Jul 2023
Oman (%) 2.8 Jun 2023 monthly Jan 2000 - Jun 2023
Pakistan (%) 13.1 Jul 2023 monthly Jan 1989 - Jul 2023
Palestinian Territory (%) 3.7 Jul 2023 monthly Jul 2003 - Jul 2023
Panama (%) -1.8 Jun 2023 monthly Dec 2003 - Jun 2023
Paraguay (%) 10.1 Jul 2023 monthly Dec 1989 - Jul 2023
Peru (%) -0.6 Jul 2023 monthly Jan 1993 - Jul 2023
Philippines (%) 6.8 Jun 2023 monthly Dec 1989 - Jun 2023
Poland (%) 7.8 Jul 2023 monthly Dec 1997 - Jul 2023
Portugal (%) -2.5 Jul 2023 monthly Dec 1980 - Jul 2023
Qatar (%) 1.3 Jul 2023 monthly Jan 1983 - Jul 2023
Romania (%) 9.7 Jun 2023 monthly Dec 2002 - Jun 2023
Russia (%) 24.7 Jul 2023 monthly Dec 1992 - Jul 2023
Saudi Arabia (%) 9.4 Jul 2023 monthly Jan 1994 - Jul 2023
Serbia (%) 21.8 Jun 2023 monthly Aug 2002 - Jun 2023
Singapore (%) 3.2 Jul 2023 monthly Mar 2005 - Jul 2023
Slovakia (%) 0.2 Jul 2023 monthly Dec 2001 - Jul 2023
Slovenia (%) 5.6 Jun 2023 monthly Jan 2008 - Jun 2023
South Africa (%) 8.2 Jul 2023 monthly Mar 1966 - Jul 2023
Spain (%) -2.0 Jul 2023 monthly Jan 1963 - Jul 2023
Sri Lanka (%) 8.1 Jul 2023 monthly Jan 1995 - Jul 2023
Sudan (%) 43.9 Feb 2023 monthly Dec 2004 - Feb 2023
Sweden (%) -3.4 Jul 2023 monthly Jan 1999 - Jul 2023
Switzerland (%) -10.4 Jun 2023 monthly Dec 1985 - Jun 2023

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Norway Key Series

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Includes 228 key indicators for Norway, curated by CEIC analysts. Instant access to full history data in excel.
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Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) 25.5 Mar 2023 quarterly Dec 2002 - Mar 2023
Consolidated Fiscal Balance (USD mn) 26,969.603 Mar 2023 quarterly Mar 2002 - Mar 2023
Tax Revenue (USD mn) 39,706.155 Mar 2023 quarterly Mar 2002 - Mar 2023
Tax Revenue: % of GDP (%) 31.7 Mar 2023 quarterly Mar 2002 - Mar 2023
National Government Debt (USD mn) 203,080.5 2021 yearly 1995 - 2021
Government Debt: % of GDP (%) 42.5 2021 yearly 1995 - 2021
Forecast: Government Expenditure (NOK bn) 2,769.251 2028 yearly 1980 - 2028
Forecast: Government Net Debt (NOK bn) 2,244.310 2028 yearly 1980 - 2028
Forecast: Government Revenue (NOK bn) 3,832.391 2028 yearly 1980 - 2028
General Govt Taxes: GS: Value Added Tax (NOK mn) 338,000.000 2021 yearly 1995 - 2021
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) 1.276 2028 yearly 1980 - 2028
Trade Balance (USD mn) 5,991.8 Jul 2023 monthly Jan 1957 - Jul 2023
Total Exports (USD mn) 13,022.8 Jul 2023 monthly Jan 1975 - Jul 2023
Total Exports Growth (%) -48.2 Jul 2023 monthly Jan 1976 - Jul 2023
Aluminum: Exports (USD th) 6,135,979.913 2022 yearly 1995 - 2022
Exports: Medicament (USD th) 448,682.646 2022 yearly 1995 - 2022
Exports: Medicinal and Pharmaceutical Product (USD th) 277,185.408 2022 yearly 1995 - 2022
Total Imports (USD mn) 7,030.9 Jul 2023 monthly Jan 1976 - Jul 2023
Total Imports Growth (%) -4.5 Jul 2023 monthly Jan 1977 - Jul 2023
Imports: Medicament (USD th) 1,781,332.513 2022 yearly 1995 - 2022
Imports: Medicinal and Pharmaceutical Product (USD th) 1,061,381.998 2022 yearly 1995 - 2022
Total Exports to USA (USD mn) 576.342 Jul 2023 monthly Jan 1988 - Jul 2023
Total Imports from USA (USD mn) 444.626 Jul 2023 monthly Apr 1963 - Jul 2023
Total Exports to China (USD mn) 243.281 Jul 2023 monthly Mar 1977 - Jul 2023
Total Imports from China (USD mn) 825.839 Jul 2023 monthly Apr 1963 - Jul 2023
Exports: Crude Oil (NOK mn) 45,544.000 Jul 2023 monthly Jan 1974 - Jul 2023
Imports (NOK mn) 71,953.000 Jul 2023 monthly Jan 1976 - Jul 2023
Exports (NOK mn) 133,273.000 Jul 2023 monthly Jan 1975 - Jul 2023
Exports: Netherlands (NOK th) 11,162,734.000 Jul 2023 monthly Jan 1988 - Jul 2023
Exports: United Kingdom (NOK th) 26,746,312.000 Jul 2023 monthly Jan 1988 - Jul 2023
Exports: Sweden (NOK th) 9,336,493.000 Jul 2023 monthly Jan 1988 - Jul 2023
Exports: Germany (NOK th) 23,995,255.000 Jul 2023 monthly Jan 1988 - Jul 2023
Exports: France (NOK th) 6,866,775.000 Jul 2023 monthly Jan 1988 - Jul 2023
Exports: 1-Digit: Chemical and Related Product (NOK th) 6,022,668.000 Jul 2023 monthly Jan 1988 - Jul 2023
Exports: 1-Digit: Food and Live Animals (NOK th) 12,748,941.000 Jul 2023 monthly Jan 1988 - Jul 2023
Exports: 1-Digit: Manufactured Goods (NOK th) 9,748,837.000 Jul 2023 monthly Jan 1988 - Jul 2023
Exports: 1-Digit: Mineral Fuels and Lubricants (NOK th) 90,896,159.000 Jul 2023 monthly Jan 1988 - Jul 2023
Exports: 1-Digit: Machinery and Transport Equipment (NOK th) 8,418,997.000 Jul 2023 monthly Jan 1988 - Jul 2023
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) 1,148.7 Jun 2023 quarterly Mar 1994 - Jun 2023
Current Account Balance (USD mn) 27,310.5 Mar 2023 quarterly Mar 1981 - Mar 2023
Current Account Balance: % of GDP (%) 14.4 Jun 2023 quarterly Mar 1981 - Jun 2023
Foreign Direct Investment (USD mn) -1,763.3 Jun 2023 quarterly Mar 2005 - Jun 2023
Foreign Direct Investment: % of GDP (%) -0.9 Dec 2022 quarterly Mar 2005 - Dec 2022
Foreign Portfolio Investment (USD mn) -4,157.095 Jun 2023 quarterly Mar 1994 - Jun 2023
Foreign Portfolio Investment: % of GDP (%) -3.7 Jun 2023 quarterly Mar 1994 - Jun 2023
Foreign Portfolio Investment: Equity Securities (USD mn) -1,416.9 Jun 2023 quarterly Mar 2005 - Jun 2023
Foreign Portfolio Investment: Debt Securities (USD mn) -2,740.158 Jun 2023 quarterly Mar 2005 - Jun 2023
External Debt (USD mn) 737,752.2 Jun 2023 quarterly Mar 2003 - Jun 2023
External Debt: % of GDP (%) 135.8 2022 yearly 2003 - 2022
External Debt: Short Term (USD mn) 332,971.2 Dec 2022 quarterly Mar 2012 - Dec 2022
External Debt: Short Term: % of GDP (%) 58.8 2022 yearly 2012 - 2022
Total Debt: % of GDP (%) 535.6 Jun 2023 quarterly Dec 1995 - Jun 2023
Forecast: Current Account Balance (USD bn) 86.845 2028 yearly 1980 - 2028
Net International Investment Position (USD mn) 1,383,663.405 Jun 2023 quarterly Mar 2012 - Jun 2023
BoP: Financial Account (FA): Foreign Assets (NOK mn) 102,490.000 Jun 2023 quarterly Mar 2005 - Jun 2023
BoP: FA: Foreign Assets: Direct Investment (DI) (NOK mn) 12,294.000 Jun 2023 quarterly Mar 2005 - Jun 2023
BoP: FA: Foreign Assets: Portfolio Investment (PI) (NOK mn) 258,647.000 Jun 2023 quarterly Mar 2005 - Jun 2023
BoP: FA: Foreign Assets: Other Investments (NOK mn) -171,135.000 Jun 2023 quarterly Mar 2005 - Jun 2023
BoP: FA: Foreign Assets: Reserve Assets (NOK mn) 2,684.000 Jun 2023 quarterly Mar 2005 - Jun 2023
BoP: FA: Foreign Liabilities (NOK mn) -160,624.000 Jun 2023 quarterly Mar 2005 - Jun 2023
BoP: FA: Foreign Liabilities: Direct Investment (DI) (NOK mn) -18,872.000 Jun 2023 quarterly Mar 2005 - Jun 2023
BoP: FA: Foreign Liabilities: Portfolio Investment (PI) (NOK mn) -44,492.000 Jun 2023 quarterly Mar 2005 - Jun 2023
BoP: FA: Foreign Liabilities: Other Investments (NOK mn) -97,260.000 Jun 2023 quarterly Mar 2005 - Jun 2023
BoP: BI: Net Compensation of Employees and Investment Income (NOK mn) 61,807.000 Jun 2023 quarterly Mar 1981 - Jun 2023
BoP: BI: Net Current Transfers (NOK mn) -24,571.000 Jun 2023 quarterly Mar 1981 - Jun 2023
BoP: Current Account Balance (NOK mn) 171,339.000 Jun 2023 quarterly Mar 1981 - Jun 2023
IIP: Foreign Assets (NOK mn) 25,416,092.000 Jun 2023 quarterly Mar 2012 - Jun 2023
IIP: Foreign Liabilities (NOK mn) 10,595,950.000 Jun 2023 quarterly Mar 2012 - Jun 2023
Gross External Debt (NOK mn) 7,901,916.000 Jun 2023 quarterly Mar 2012 - Jun 2023
Gross Debt: External Loan Debt: General Public (NOK mn) 1,222,575.000 Dec 2018 quarterly Dec 2015 - Dec 2018
Foreign Direct Investment: Stock (NOK mn) 1,453,884.000 2021 yearly 2004 - 2021
Direct Investment Abroad: Stock: Equity Capital: Belgium (NOK mn) 3,813.000 2021 yearly 1998 - 2021
Direct Investment Abroad: Stock: Equity Capital: Singapore (NOK mn) 87,288.000 2021 yearly 1998 - 2021
Direct Investment Abroad: Stock: Equity Capital: Africa (NOK mn) 15,219.000 2021 yearly 2004 - 2021
Direct Investment Abroad: Stock: Equity Capital: Netherlands (NOK mn) 184,148.000 2021 yearly 1998 - 2021
Direct Investment Abroad: Stock: Equity Capital: Sweden (NOK mn) 265,470.000 2021 yearly 1998 - 2021
Direct Investment Abroad: Stock: Equity Capital (NOK mn) 1,701,383.000 2017 yearly 2004 - 2017
No of Bankruptcies: SIC 2007 (Unit) 1,068.000 Jun 2023 quarterly Mar 2006 - Jun 2023
No of New Registered Enterprises (Unit) 15,277.000 Jun 2023 quarterly Mar 2001 - Jun 2023
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 0.5 2021 yearly 1990 - 2021
Household Debt: % of GDP (%) 85.1 Jun 2023 quarterly Dec 1995 - Jun 2023
Money Supply M1 (USD mn) 276,494.714 Jul 2023 monthly Dec 1992 - Jul 2023
Money Supply M2 (USD mn) 307,978.598 Jul 2023 monthly Dec 1992 - Jul 2023
M2 Growth (%) -0.7 Jul 2023 monthly Dec 1993 - Jul 2023
Reserve Requirement Ratio (%) 3.0 Aug 2023 monthly Oct 2011 - Aug 2023
Foreign Exchange Reserves (USD mn) 70,200.5 Aug 2023 monthly Jan 1999 - Aug 2023
Foreign Exchange Reserves: % of GDP (%) 14.070 Jun 2023 quarterly Mar 1999 - Jun 2023
Foreign Exchange Reserves: Months of Import (NA) 10.1 Jul 2023 monthly Jan 1999 - Jul 2023
Gold Reserves (USD mn) 0.000 Aug 2023 monthly Dec 1959 - Aug 2023
Total Deposits (USD mn) 492,567.425 Jul 2023 monthly May 2009 - Jul 2023
Total Deposits Growth (%) 1.4 Jul 2023 monthly May 2010 - Jul 2023
Domestic Credit (USD mn) 707,377.8 Jul 2023 monthly Dec 1985 - Jul 2023
Domestic Credit Growth (%) 4.4 Jul 2023 monthly Dec 1986 - Jul 2023
Debt Service Ratio: Households (%) 12.900 Dec 2022 quarterly Mar 1999 - Dec 2022
Debt Service Ratio: Private Non-Financial Sector (%) 24.200 Dec 2022 quarterly Mar 1999 - Dec 2022
Credit to Households (USD bn) 435.051 Dec 2022 quarterly Mar 1975 - Dec 2022
Credit to Private Non-Financial Sector (USD bn) 1,080.217 Dec 2022 quarterly Dec 1953 - Dec 2022
Household Debt (USD mn) 430,059.9 Jun 2023 quarterly Dec 1995 - Jun 2023
Total Loans (USD mn) 726,685.962 Jun 2023 monthly Mar 1996 - Jun 2023
Total Loans Growth (%) 6.05 Jun 2023 monthly Mar 1997 - Jun 2023
Private Debt: % of Nominal GDP (%) 111.09 Jun 2023 quarterly Mar 1996 - Jun 2023
Official Reserve Assets (NOK mn) 840,861.000 Aug 2023 monthly Jan 1999 - Aug 2023
Official Reserve Assets: FR: Foreign Currency (FC) (NOK mn) 680,197.000 Aug 2023 monthly Jan 1999 - Aug 2023
Bank Deposits: Households (NOK mn) 1,255,207.000 Jan 2019 monthly Dec 1989 - Jan 2019
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) -0.8 Aug 2023 monthly Feb 2005 - Aug 2023
Purchasing Manager Index: sa (NA) 56.310 Feb 2019 monthly Feb 2004 - Feb 2019

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