Norway: Staff Report for the 2002 Article IV Consultation
IMF Staff Country Reports, March 18, 2003
Source details
- Canonical URL
- Norway: Staff Report for the 2002 Article IV Consultation
Other formats
Bibliographic details
- Published: March 18, 2003
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451829693.002
Key findings
- Mainland GDP growth edged up to an estimated 1.4 percent in 2002, from 12 percent in 2001, driven by strong consumption growth.
- Mainland investment and traditional exports slackened in 2002.
- The nominal effective exchange rate appreciated by 11.5 percent during 2002.
- Unemployment remained fairly stable through 2002 as the expansion of the sheltered sector offset employment losses in the exposed sector.
Drivers and constraints
- Weak external demand contributed to the slowdown in mainland investment and traditional exports.
- High real interest rates were identified as a factor constraining investment and external-sector performance.
- Exchange rate appreciation (11.5 percent) reinforced competitiveness pressures on exporters.
Labor market
- Employment losses occurred in the exposed sector.
- Expansion of the sheltered sector offset those losses, leaving unemployment fairly stable through 2002.
Subject areas and keywords (as stated in the source)
- Commodities; Fiscal policy; Fiscal stimulus; Inflation; Oil; Oil, gas and mining taxes; Prices; Taxes
- Keywords: CR, economic statistics, exchange rate, exchange rate appreciation, Fiscal stimulus, gas and mining taxes, Global, headline inflation, IMF staff estimate, Inflation, ISCR, mainland investment, Oil, oil revenue, profitability, wage moderation
Document identifiers and metadata (excerpted)
- Pages: 38
- Volume: 2003
- Issue: 077
- Series: Country Report No. 2003/077
- DOI: https://doi.org/10.5089/9781451829693.002
- Stock No: 1NOREA0012003
- ISBN: 9781451829693
- ISSN: 1934-7685
Source: Norway: Staff Report for the 2002 Article IV Consultation (IMF Staff Country Reports 2003, 077).