The gross value added in the mining and quarrying sector in Norway stood at 3.05 trillion Norwegian Krones in 2023. It is projected to increase significantly over the next five years, reaching 8.0746 trillion NOK by 2028. The year-on-year growth rates are as follows: 25.2% for 2025, 19.9% for 2026, 16.4% for 2027, and 14% for 2028. The compound annual growth rate (CAGR) over the forecasted period from 2024 to 2028 is expected to be approximately 15.4%.
Future trends to watch for include technological advancements in mining and quarrying processes, increasing environmental regulations, and potential fluctuations in global commodity prices which could impact growth. Additionally, the transition towards green energy and sustainable practices may affect the sector’s dynamics and economic contribution.
