Norway gdp-growth-non-oil-sector

Norway’s mainland GDP, which excludes the petroleum-based offshore sector, expanded by 0.1% quarter-on-quarter in the three months to September 2025, below forecasts of 0.2%. This followed a downwardly revised 0.5% growth in the previous quarter, marking the third consecutive quarter of expansion. The Q3 expansion was primarily driven by increased activity in retail trade, alongside high activity on the Norwegian continental shelf. However, growth was partly offset by declines in fishing and aquaculture, as well as shutdowns in parts of the industry. " Some random variation contributed to the development of the Norwegian economy being flat in the third quarter. However, we see much of the same underlying growth picture as in the first half of the year,” said Pål Sletten, Head of the National Accounts Section at Statistics Norway. On a year-on-year basis, the mainland economy grew 1.3% in Q3, accelerating from a 0.5% growth in Q2.