The turnover in the Mining and Quarrying sector in Norway is projected to witness a consistent decline from 662.71 billion Norwegian Krones in 2024 to 615.89 billion NOK in 2028. Comparing the forecasted values to the previous years' data, we observe a steady downward trend, indicating a shrinking sector. From 2023 to 2024, there is an expected year-on-year variation of approximately -1.79%, and a similar declining pattern is noticeable in the subsequent years. The compound annual growth rate (CAGR) over the last five years is negative, reflecting a sustained decrease in sector turnover.
Future trends to watch for include potential impacts from sustainable mining practices, advancements in mining technology, and regulatory changes aimed at reducing environmental impacts. Monitoring these trends will be crucial in understanding the long-term trajectory of the mining and quarrying sector in Norway.
