Construction in Norway – Key Trends and Opportunities to 2018

Date: 2015-09

The Norwegian construction industry recorded a CAGR of 8.80% during the review period (2009−2013). Norway’s economy underwent an extended period of insubstantial expansion, due to decelerated growth in the real estate sector and a sharp increase in property prices. This was reflected in the construction industry’s growth, which slowed from 14.0% in 2011 to 9.4% in 2013. This decline was driven by a slump in residential construction and the weakening of the krone, following the European debt crisis. Industry outlook is still favorable, due to the government’s commitment to improving infrastructure. Industry output is expected to record a CAGR of 7.07% over the forecast period (2013−2018).

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