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Norway's total investments expected to decline in 2016, 2017

Xinhua, May 27, 2016 Adjust font size:

Norway's total investments covering its major industries are expected to decline in 2016 and 2017 mainly due to a decrease within oil and gas, the country's statistics bureau said on Thursday.

New figures for 2016 show that total investments covering oil and gas, manufacturing, mining and quarrying and electricity supply are expected to amount to 216.5 billion kroner (26.14 billion U.S. dollars) measured in current value, according to Statistics Norway.

The estimate is 9.9 percent lower than the corresponding figure for 2015 and the decline is mainly due to a significant fall of 14.8 percent within oil and gas. The decrease is, however, partly offset by higher investments in electricity supply and manufacturing.

The estimates for 2017 show that total investments are expected to amount to 200.6 billion kroner, which is 14.6 percent lower than the corresponding figure for 2016, Statistics Norway said.

The decline in 2017 is mainly due to a fall within oil and gas and manufacturing, but the fall in total investments is moderated by higher expected investments within electricity supply.

The investments in oil and gas extraction and pipeline transport for 2016 are estimated at 165.9 billion kroner, which is 14.8 percent lower than the corresponding estimate for 2015. The fall is dominated by the decreases within exploration and fields on stream.

The investments in oil and gas extraction and pipeline transport for 2017 are estimated at 153.2 billion kroner, which is 18.7 percent lower than the corresponding estimate for 2016. Endit