The composition of Norway's GDP in 2023 indicates a dominant services sector contributing 42.18%, followed by Mining, Manufacturing, and Utilities at 27.2%. Transport, storage, and communication sectors comprise 10.7%, while Wholesale, Retail Trade, Restaurants, and Hotels represent 9.9%. The construction industry contributes 7.42%, and Agriculture, Hunting, Forestry, and Fishing stand at 2.61%. Year-on-year trends demonstrate stability with minor fluctuations across all sectors. Over the past five years, the CAGR suggests moderate growth, particularly in services and utilities, indicating sectoral shifts aligned with global trends and technological advancements.
Future trends to watch for in Norway's GDP composition include the potential growth of renewable energy within the utilities sector, digital transformation boosting the communications industry, and increased investments in infrastructure impacting the construction sector. Additionally, sustainability practices could significantly reshape the agriculture and forestry sectors.
Top countries in GDP Composition by Sector
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Services | 42.18 | 2016 | |
| 2 | 2 Mining, Manufacturing, Utilities | 27.2 | 2016 | |
| 3 | 3 Transport, storage and communication | 10.7 | 2016 | |
| 4 | 4 Wholesale, retail trade, restaurants and hotels | 9.9 | 2016 | |
| 5 | 5 Construction | 7.42 | 2016 | |
| 6 | 6 Agriculture, hunting, forestry, fishing | 2.61 | 2016 |
