National Accounts: GDP by Expenditure: Current Prices: Government Final Consumption Expenditure for Norway
NORGFCEQDSMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
277,471,000,000.00
Year-over-Year Change
21.92%
Date Range
1/1/1978 - 7/1/2023
Summary
This economic trend measures government final consumption expenditure in Norway, which is a key component of the country's gross domestic product (GDP) by expenditure.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
Government final consumption expenditure represents the value of goods and services consumed by the government. It is an important indicator of the government's role in the Norwegian economy and helps economists and policymakers assess fiscal policy and public sector activities.
Methodology
The data is collected and calculated by the Norwegian statistical agency, Statistics Norway.
Historical Context
This trend is widely used by economists, analysts, and policymakers to evaluate the Norwegian economy and its public sector dynamics.
Key Facts
- Norway's government final consumption expenditure was 875 billion Norwegian kroner in 2021.
- Government consumption accounts for around 18% of Norway's total GDP.
- The trend has shown steady growth in recent years, reflecting the government's prominent role in the economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the value of goods and services consumed by the Norwegian government, a key component of the country's GDP.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the government's role and fiscal policy in the Norwegian economy, which is important for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Norwegian statistical agency, Statistics Norway.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, analysts, and policymakers to evaluate the Norwegian economy and its public sector dynamics.
Q: Are there update delays or limitations?
A: The data is generally published on a timely basis, with minimal update delays, providing reliable and up-to-date information.
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Citation
U.S. Federal Reserve, National Accounts: GDP by Expenditure: Current Prices: Government Final Consumption Expenditure for Norway (NORGFCEQDSMEI), retrieved from FRED.