Norway's economy experienced a normal growth of 1.8% in Mainland Norway last year, with private sector growth leading the way.
According to the National Accounts released by Statistics Norway (SSB), Norway's Gross Domestic Product (GDP) in Mainland Norway grew by 1.8% over the last year, indicating a stable growth trend. The strongest growth was noted in the private sector, with an increase of 1.9%, while public sector growth was recorded at 1.2%. This growth pattern reflects the government's fiscal policies which have fostered more subdued growth in public consumption and investments, allowing private enterprise to drive the economy forward.
Further insights from SSB's report highlight that the financial policy in place contributed to an environment where consumer purchasing power improved, largely due to two interest rate cuts in 2025. Households witnessed a pronounced rise in consumption demand, accompanying continued robust growth in petroleum investments and increased exports. According to PĆ„l Sletten, the section chief at SSB, these factors collectively elevated activity levels in the mainland economy, showcasing a healthy balance between private consumption and investment.
Moreover, SSB's accounts indicate that employment grew by 0.7% in 2025, which aligns closely with population growth. This growth in employment occurred evenly across both the private and public sectors, suggesting a stable job market. In conclusion, the release of these figures underscores a positive economic trend with significant contributions from both the private sector and household consumption, while public expenditure growth remains cautiously managed under current fiscal strategies.
