Norway Private Consumption: % of GDP

1978 - 2022 | Quarterly | % | CEIC Data

Key information about Norway Private Consumption: % of GDP

  • Norway Private Consumption accounted for 35.6 % of its Nominal GDP in Dec 2022, compared with a ratio of 28.7 % in the previous quarter.
  • Norway Private Consumption contribution to Nominal GDP ratio is updated quarterly, available from Mar 1978 to Dec 2022, with an average share of 45.2 %.
  • The data reached an all-time high of 53.2 % in Dec 1986 and a record low of 28.7 % in Sep 2022.

CEIC calculates Private Consumption as % of Nominal GDP from quarterly Private Consumption Expenditure and quarterly Nominal GDP. Statistics Norway provides Private Consumption Expenditure in local currency and Nominal GDP in local currency.


Related information about Norway Private Consumption: % of GDP

  • In the latest reports, Norway GDP expanded 1.8 % YoY in Dec 2022.
  • Its Nominal GDP reached 133.7 USD bn in Dec 2022.
  • Norway GDP Per Capita reached 89,114.7 USD in Dec 2021.
  • Its Gross Savings Rate was measured at 45.6 % in Dec 2022.

View Norway's Private Consumption: % of GDP from Mar 1978 to Dec 2022 in the chart:

Norway Private Consumption: % of GDP

What was Norway's Private Consumption: % of GDP in Dec 2022?

Norway Private Consumption accounted for 35.6 % of its Nominal GDP in Dec 2022, compared with a ratio of 28.7 % in the previous quarter. See the table below for more data.

Last Previous Min Max Unit Frequency Range
35.6 Dec 2022 28.7 Sep 2022 28.7 Sep 2022 53.2 Dec 1986 % quarterly Mar 1978 - Dec 2022

Private Consumption: % of GDP by Country Comparison

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country/region Last Frequency Range
Albania (%) 73.3 Sep 2022 quarterly Mar 2008 - Sep 2022
Algeria (%) 44.4 2021 yearly 1950 - 2021
Argentina (%) 62.8 Sep 2022 quarterly Mar 1993 - Sep 2022
Armenia (%) 65.4 Sep 2022 quarterly Dec 1994 - Sep 2022
Australia (%) 49.9 Dec 2022 quarterly Sep 1959 - Dec 2022
Austria (%) 49.8 Dec 2022 quarterly Mar 1988 - Dec 2022
Azerbaijan (%) 44.0 Sep 2022 quarterly Mar 2001 - Sep 2022
Bahrain (%) 39.1 2021 yearly 1975 - 2021
Bangladesh (%) 69.1 2022 yearly 1973 - 2022
Belarus (%) 53.7 Dec 2022 quarterly Mar 1994 - Dec 2022
Belgium (%) 51.6 Dec 2022 quarterly Mar 1980 - Dec 2022
Bolivia (%) 62.8 Sep 2022 quarterly Mar 1990 - Sep 2022
Bosnia and Herzegovina (%) 67.9 Dec 2022 quarterly Mar 2008 - Dec 2022
Botswana (%) 43.2 Sep 2022 quarterly Mar 2006 - Sep 2022
Brazil (%) 63.0 Sep 2022 quarterly Mar 1996 - Sep 2022
Brunei (%) 22.4 Sep 2022 quarterly Mar 2004 - Sep 2022
Bulgaria (%) 62.6 Dec 2022 quarterly Mar 1995 - Dec 2022
Cambodia (%) 65.2 2021 yearly 1993 - 2021
Canada (%) 55.6 Dec 2022 quarterly Mar 1961 - Dec 2022
Chile (%) 65.2 Sep 2022 quarterly Mar 1996 - Sep 2022
China (%) 38.2 2021 yearly 1952 - 2021
Colombia (%) 74.5 Dec 2022 quarterly Mar 2005 - Dec 2022
Croatia (%) 60.7 Dec 2022 quarterly Mar 1995 - Dec 2022
Cyprus (%) 60.7 Dec 2022 quarterly Mar 1995 - Dec 2022
Czech Republic (%) 45.9 Dec 2022 quarterly Mar 1995 - Dec 2022
Denmark (%) 41.5 Sep 2022 quarterly Mar 1990 - Sep 2022
Ecuador (%) 61.7 Sep 2022 quarterly Mar 1991 - Sep 2022
Egypt (%) 78.3 Jun 2022 quarterly Sep 2001 - Jun 2022
Estonia (%) 48.4 Dec 2022 quarterly Mar 1993 - Dec 2022
European Union (%) 51.9 Dec 2022 quarterly Mar 1995 - Dec 2022
Finland (%) 51.5 Dec 2022 quarterly Mar 1975 - Dec 2022
France (%) 54.2 Mar 2023 quarterly Mar 1980 - Mar 2023
Georgia (%) 70.8 Sep 2022 quarterly Mar 1996 - Sep 2022
Germany (%) 51.1 Dec 2022 quarterly Mar 1991 - Dec 2022
Ghana (%) 69.2 2021 yearly 2006 - 2021
Greece (%) 66.3 Sep 2022 quarterly Mar 1995 - Sep 2022
Hong Kong SAR, China (%) 69.6 Dec 2022 quarterly Mar 1973 - Dec 2022
Hungary (%) 50.3 Dec 2022 quarterly Mar 1995 - Dec 2022
Iceland (%) 48.1 Sep 2022 quarterly Mar 1995 - Sep 2022
India (%) 63.3 Dec 2022 quarterly Jun 1996 - Dec 2022
Indonesia (%) 52.8 Dec 2022 quarterly Mar 1993 - Dec 2022
Iran (%) 45.2 Mar 2022 quarterly Jun 1988 - Mar 2022
Ireland (%) 23.5 Sep 2022 quarterly Mar 1995 - Sep 2022
Israel (%) 47.9 Dec 2022 quarterly Mar 1995 - Dec 2022
Italy (%) 58.6 Dec 2022 quarterly Mar 1980 - Dec 2022
Ivory Coast (%) 67.3 2022 yearly 1960 - 2022
Japan (%) 55.2 Dec 2022 quarterly Mar 1980 - Dec 2022
Jordan (%) 83.8 2021 yearly 1962 - 2021
Kazakhstan (%) 46.5 Sep 2022 quarterly Mar 1994 - Sep 2022
Kenya (%) 74.6 2021 yearly 1969 - 2021
South Korea (%) 49.0 Dec 2022 quarterly Mar 1960 - Dec 2022
Kosovo (%) 72.5 Sep 2022 quarterly Mar 2010 - Sep 2022
Kuwait (%) 41.4 2019 yearly 1962 - 2019
Kyrgyzstan (%) 79.6 Sep 2022 quarterly Mar 2000 - Sep 2022
Laos (%) 64.4 2016 yearly 2000 - 2016
Latvia (%) 60.6 Dec 2022 quarterly Mar 1995 - Dec 2022
Lebanon (%) 106.0 2020 yearly 1990 - 2020
Lithuania (%) 60.7 Dec 2022 quarterly Mar 1993 - Dec 2022
Luxembourg (%) 31.2 Sep 2022 quarterly Mar 1995 - Sep 2022
Macau SAR, China (%) 49.2 Dec 2022 quarterly Mar 1998 - Dec 2022
North Macedonia (%) 67.1 Dec 2022 quarterly Mar 2000 - Dec 2022
Malawi (%) 79.2 2019 yearly 1960 - 2019
Malaysia (%) 56.7 Dec 2022 quarterly Mar 1991 - Dec 2022
Malta (%) 43.9 Dec 2022 quarterly Mar 1992 - Dec 2022
Mauritius (%) 72.0 Sep 2022 quarterly Mar 1999 - Sep 2022
Mexico (%) 68.5 Dec 2022 quarterly Mar 1993 - Dec 2022
Moldova (%) 87.7 Sep 2022 quarterly Mar 1995 - Sep 2022
Mongolia (%) 44.0 Dec 2022 quarterly Mar 2010 - Dec 2022
Montenegro (%) 77.9 Dec 2022 quarterly Mar 2010 - Dec 2022
Morocco (%) 61.5 Sep 2022 quarterly Mar 2007 - Sep 2022
Mozambique (%) 68.6 2021 yearly 1969 - 2021
Nepal (%) 82.5 2022 yearly 1975 - 2022
Netherlands (%) 44.2 Dec 2022 quarterly Mar 1977 - Dec 2022
New Zealand (%) 58.7 Sep 2022 quarterly Jun 1987 - Sep 2022
Nigeria (%) 62.2 2021 yearly 1981 - 2021
Norway (%) 35.6 Dec 2022 quarterly Mar 1978 - Dec 2022
Oman (%) 44.3 2021 yearly 1980 - 2021
Pakistan (%) 86.1 2022 yearly 1967 - 2022
Palestinian Territory (%) 104.8 Sep 2022 quarterly Mar 2011 - Sep 2022
Panama (%) 50.5 2021 yearly 1996 - 2021
Paraguay (%) 68.5 Sep 2022 quarterly Mar 1994 - Sep 2022
Peru (%) 65.5 Sep 2022 quarterly Mar 1980 - Sep 2022
Philippines (%) 75.4 Dec 2022 quarterly Mar 1981 - Dec 2022
Poland (%) 57.8 Sep 2022 quarterly Mar 1995 - Sep 2022
Portugal (%) 66.4 Dec 2022 quarterly Mar 1995 - Dec 2022
Qatar (%) 18.6 Sep 2022 quarterly Mar 2013 - Sep 2022
Romania (%) 65.8 Dec 2022 quarterly Mar 1995 - Dec 2022
Russia (%) 50.2 Sep 2022 quarterly Mar 1993 - Sep 2022
Saudi Arabia (%) 36.9 Dec 2022 quarterly Mar 2003 - Dec 2022
Serbia (%) 66.2 Dec 2022 quarterly Mar 1995 - Dec 2022
Singapore (%) 29.8 2022 yearly 1960 - 2022
Slovakia (%) 61.9 Dec 2022 quarterly Mar 1993 - Dec 2022
Slovenia (%) 58.3 Dec 2022 quarterly Mar 1995 - Dec 2022
South Africa (%) 66.6 Dec 2022 quarterly Mar 1960 - Dec 2022
Spain (%) 53.1 Dec 2022 quarterly Mar 1980 - Dec 2022
Sri Lanka (%) 61.0 Dec 2022 quarterly Mar 2010 - Dec 2022
Sudan (%) 77.8 2016 yearly 1976 - 2016
Sweden (%) 43.6 Dec 2022 quarterly Mar 1980 - Dec 2022
Switzerland (%) 50.7 Sep 2022 quarterly Mar 1980 - Sep 2022
Syria (%) 128.6 2021 yearly 1970 - 2021

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Norway Key Series

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Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) 26.0 Dec 2022 quarterly Dec 2002 - Dec 2022
Consolidated Fiscal Balance (USD mn) 28,813.057 Dec 2022 quarterly Mar 2002 - Dec 2022
Tax Revenue (USD mn) 49,404.126 Dec 2022 quarterly Mar 2002 - Dec 2022
Tax Revenue: % of GDP (%) 35.9 Dec 2022 quarterly Mar 2002 - Dec 2022
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) 3,258.020 2027 yearly 1980 - 2027
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 (%) 1.072 2027 yearly 1980 - 2027
Trade Balance (USD mn) 6,750.1 Mar 2023 monthly Jan 1957 - Mar 2023
Total Exports (USD mn) 16,267.8 Mar 2023 monthly Jan 1975 - Mar 2023
Total Exports Growth (%) -31.3 Mar 2023 monthly Jan 1976 - Mar 2023
Aluminum: Exports (USD th) 5,091,821.627 2021 yearly 1995 - 2021
Exports: Medicament (USD th) 443,351.704 2021 yearly 1995 - 2021
Exports: Medicinal and Pharmaceutical Product (USD th) 276,258.280 2021 yearly 1995 - 2021
Total Imports (USD mn) 7,606.9 Feb 2023 monthly Jan 1976 - Feb 2023
Total Imports Growth (%) 11.5 Mar 2023 monthly Jan 1977 - Mar 2023
Imports: Medicament (USD th) 1,827,766.645 2021 yearly 1995 - 2021
Imports: Medicinal and Pharmaceutical Product (USD th) 1,136,707.355 2021 yearly 1995 - 2021
Total Exports to USA (USD mn) 403.183 Mar 2023 monthly Jan 1988 - Mar 2023
Total Imports from USA (USD mn) 701.257 Mar 2023 monthly Apr 1963 - Mar 2023
Total Exports to China (USD mn) 266.557 Mar 2023 monthly Mar 1977 - Mar 2023
Total Imports from China (USD mn) 1,037.677 Mar 2023 monthly Apr 1963 - Mar 2023
Exports: Crude Oil (NOK mn) 38,102.000 Feb 2023 monthly Jan 1974 - Feb 2023
Imports (NOK mn) 73,096.000 Jan 2023 monthly Jan 1976 - Jan 2023
Exports (NOK mn) 175,893.000 Jan 2023 monthly Jan 1975 - Jan 2023
Exports: United Kingdom (NOK th) 34,429,027.000 Mar 2023 monthly Jan 1988 - Mar 2023
Exports: Sweden (NOK th) 14,956,745.000 Mar 2023 monthly Jan 1988 - Mar 2023
Exports: Netherlands (NOK th) 14,035,896.000 Jan 2023 monthly Jan 1988 - Jan 2023
Exports: Germany (NOK th) 33,064,963.000 Mar 2023 monthly Jan 1988 - Mar 2023
Exports: France (NOK th) 11,636,939.000 Mar 2023 monthly Jan 1988 - Mar 2023
Exports: 1-Digit: Chemical and Related Product (NOK th) 6,856,700.000 Jan 2023 monthly Jan 1988 - Jan 2023
Exports: 1-Digit: Food and Live Animals (NOK th) 16,365,010.000 Mar 2023 monthly Jan 1988 - Mar 2023
Exports: 1-Digit: Manufactured Goods (NOK th) 16,993,550.000 Mar 2023 monthly Jan 1988 - Mar 2023
Exports: 1-Digit: Mineral Fuels and Lubricants (NOK th) 131,890,390.000 Jan 2023 monthly Jan 1988 - Jan 2023
Exports: 1-Digit: Machinery and Transport Equipment (NOK th) 10,418,587.000 Mar 2023 monthly Jan 1988 - Mar 2023
Import Volume Index: Machinery and Transport Equipment (2000=100) 197.800 Jun 2022 quarterly Mar 1989 - Jun 2022
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) -446.9 Dec 2022 quarterly Mar 1994 - Dec 2022
Current Account Balance (USD mn) 35,429.2 Dec 2022 quarterly Mar 1981 - Dec 2022
Current Account Balance: % of GDP (%) 25.8 Dec 2022 quarterly Mar 1981 - Dec 2022
Foreign Direct Investment (USD mn) -1,210.5 Dec 2022 quarterly Mar 2005 - Dec 2022
Foreign Direct Investment: % of GDP (%) -0.9 Dec 2022 quarterly Mar 2005 - Dec 2022
Foreign Portfolio Investment (USD mn) 3,652.147 Dec 2022 quarterly Mar 1994 - Dec 2022
Foreign Portfolio Investment: % of GDP (%) 2.7 Dec 2022 quarterly Mar 1994 - Dec 2022
Foreign Portfolio Investment: Equity Securities (USD mn) -1,524.2 Dec 2022 quarterly Mar 2005 - Dec 2022
Foreign Portfolio Investment: Debt Securities (USD mn) 5,176.310 Dec 2022 quarterly Mar 2005 - Dec 2022
External Debt (USD mn) 767,265.1 Dec 2022 quarterly Mar 2003 - Dec 2022
External Debt: % of GDP (%) 135.6 2022 yearly 2003 - 2022
External Debt: Short Term (USD mn) 333,703.8 Dec 2022 quarterly Mar 2012 - Dec 2022
External Debt: Short Term: % of GDP (%) 59.0 2022 yearly 2012 - 2022
Total Debt: % of GDP (%) 509.3 Dec 2022 quarterly Dec 1995 - Dec 2022
Forecast: Current Account Balance (USD bn) 86.845 2028 yearly 1980 - 2028
Net International Investment Position (USD mn) 1,185,004.980 Dec 2022 quarterly Mar 2012 - Dec 2022
BoP: FA: Foreign Assets: Direct Investment (DI) (NOK mn) -4,556.000 Dec 2022 quarterly Mar 2005 - Dec 2022
BoP: FA: Foreign Assets: Reserve Assets (NOK mn) -84,605.000 Dec 2022 quarterly Mar 2005 - Dec 2022
BoP: Financial Account (FA): Foreign Assets (NOK mn) 263,409.000 Dec 2022 quarterly Mar 2005 - Dec 2022
BoP: FA: Foreign Assets: Other Investments (NOK mn) -323,818.000 Dec 2022 quarterly Mar 2005 - Dec 2022
BoP: FA: Foreign Liabilities: Portfolio Investment (PI) (NOK mn) 37,234.000 Dec 2022 quarterly Mar 2005 - Dec 2022
BoP: FA: Foreign Liabilities: Other Investments (NOK mn) -52,244.000 Dec 2022 quarterly Mar 2005 - Dec 2022
BoP: FA: Foreign Liabilities (NOK mn) -27,351.000 Dec 2022 quarterly Mar 2005 - Dec 2022
BoP: FA: Foreign Assets: Portfolio Investment (PI) (NOK mn) 676,388.000 Dec 2022 quarterly Mar 2005 - Dec 2022
BoP: FA: Foreign Liabilities: Direct Investment (DI) (NOK mn) -12,341.000 Dec 2022 quarterly Mar 2005 - Dec 2022
BoP: BI: Net Current Transfers (NOK mn) -24,679.000 Dec 2022 quarterly Mar 1981 - Dec 2022
BoP: Current Account Balance (NOK mn) 361,204.000 Dec 2022 quarterly Mar 1981 - Dec 2022
BoP: BI: Net Compensation of Employees and Investment Income (NOK mn) 61,231.000 Dec 2022 quarterly Mar 1981 - Dec 2022
International Investment Position (IIP): Foreign Assets: Net (NOK mn) 11,659,264.000 Dec 2022 quarterly Mar 2012 - Dec 2022
IIP: Foreign Assets (NOK mn) 21,920,829.000 Dec 2022 quarterly Mar 2012 - Dec 2022
IIP: Foreign Liabilities (NOK mn) 10,261,565.000 Dec 2022 quarterly Mar 2012 - Dec 2022
Gross External Debt (NOK mn) 7,549,121.000 Dec 2022 quarterly Mar 2012 - Dec 2022
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 (NOK mn) 1,701,383.000 2017 yearly 2004 - 2017
Direct Investment Abroad: Stock: Equity Capital: Africa (NOK mn) 15,219.000 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: Netherlands (NOK mn) 184,148.000 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: Sweden (NOK mn) 265,470.000 2021 yearly 1998 - 2021
No of Bankruptcies: SIC 2007 (Unit) 1,006.000 Dec 2022 quarterly Mar 2006 - Dec 2022
No of New Registered Enterprises (Unit) 18,131.000 Dec 2022 quarterly Mar 2001 - Dec 2022
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 0.5 2021 yearly 1990 - 2021
Household Debt: % of GDP (%) 81.2 Dec 2022 quarterly Dec 1995 - Dec 2022
Money Supply M1 (USD mn) 274,001.723 Mar 2023 monthly Dec 1992 - Mar 2023
Money Supply M2 (USD mn) 315,314.227 Jan 2023 monthly Dec 1992 - Jan 2023
M2 Growth (%) 5.2 Mar 2023 monthly Dec 1993 - Mar 2023
Reserve Requirement Ratio (%) 2.0 Apr 2023 monthly Oct 2011 - Apr 2023
Foreign Exchange Reserves (USD mn) 69,992.9 Mar 2023 monthly Jan 1999 - Mar 2023
Foreign Exchange Reserves: % of GDP (%) 11.209 Dec 2022 quarterly Mar 1999 - Dec 2022
Foreign Exchange Reserves: Months of Import (NA) 9.0 Feb 2023 monthly Jan 1999 - Feb 2023
Gold Reserves (USD mn) 0.000 Apr 2023 monthly Dec 1959 - Apr 2023
Total Deposits (USD mn) 475,040.757 Feb 2023 monthly May 2009 - Feb 2023
Total Deposits Growth (%) 7.0 Jan 2023 monthly May 2010 - Jan 2023
Domestic Credit (USD mn) 678,137.4 Mar 2023 monthly Dec 1985 - Mar 2023
Domestic Credit Growth (%) 5.6 Mar 2023 monthly Dec 1986 - Mar 2023
Debt Service Ratio: Households (%) 12.300 Sep 2022 quarterly Mar 1999 - Sep 2022
Debt Service Ratio: Private Non-Financial Sector (%) 23.300 Sep 2022 quarterly Mar 1999 - Sep 2022
Credit to Households (USD bn) 390.509 Sep 2022 quarterly Mar 1975 - Sep 2022
Credit to Private Non-Financial Sector (USD bn) 950.185 Sep 2022 quarterly Dec 1953 - Sep 2022
Household Debt (USD mn) 459,547.2 Dec 2022 quarterly Dec 1995 - Dec 2022
Total Loans (USD mn) 763,502.693 Dec 2022 monthly Mar 1996 - Dec 2022
Total Loans Growth (%) 6.72 Dec 2022 monthly Mar 1997 - Dec 2022
Private Debt: % of Nominal GDP (%) 105.46 Dec 2022 quarterly Mar 1996 - Dec 2022
Official Reserve Assets: FR: Foreign Currency (FC) (NOK mn) 692,931.000 Mar 2023 monthly Jan 1999 - Mar 2023
Official Reserve Assets (NOK mn) 822,349.000 Mar 2023 monthly Jan 1999 - Mar 2023
Bank Deposits: Households (NOK mn) 1,255,207.000 Jan 2019 monthly Dec 1989 - Jan 2019
Loans: Banks (NOK mn) 4,460,931.000 Dec 2022 monthly Jan 1996 - Dec 2022
Non Performing Loans Ratio: Enterprises (%) 0.700 2021 yearly 1990 - 2021
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) -21.2 Mar 2023 monthly Feb 2005 - Mar 2023
Purchasing Manager Index: sa (NA) 56.310 Feb 2019 monthly Feb 2004 - Feb 2019

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