XI 217 1955 - Statistisk sentralbyrå

Summary. 133
Summary.
The year 1955 can be characterized as a
year of moderate economic progress for Norway.
The economic advance which has marked
the course of events in the postwar period continued,
but the rise in production was somewhat
smaller than in most of the earlier postwar
years. This seems to be especially true
of the second half of 1955. The increase in
the national product between 1954 and 1955
has provisionally been estimated at about 3
per cent, while the average for the immediately
1, receding fiveyear period was 3,5 per
cent. In part the smaller increase in production
in the past year is due to the fact that the
natural conditions were less favourable for
certain branches of economic activity.
Calculated at current prices. the Norwegian
gross rational product increased from 25,2
milliard kroner in 1954 to 26,7 milliard kroner
in 1955, or by nearly 6 per cent. 1 Estimated at
fixed prices (1950-prices) the provisional
calculations show an increase in the national
product from 19,0 milliard kroner in 1954 to
19,5 milliard kroner in 1955. This represents
an increase of about 3 per cent, which is somewhat
less than the year before, but approximately
':he same as in 1952 and 1953.
Inter ! .ational statistics available at the time
of writs og seem to indicate that the increase
in total production as well as in exports and
imports in 1955 has been relatively somewhat
less in Norway than the average for the whole
of Western Europe. Thus in most of the Western
European countries the agricultural harvest
increased from 1954 to 1955, whereas the
drought in Norway caused a smaller crop than
last year. Industrial production has increased
in Norway by approximately 4 per cent, but
the rise for Western Europe as a whole has
been nearly twice as large. Great Britain,
Sweden and Denmark also showed a smaller
advance in their industrial production than
the average for Western Europe as a whole.
The relatively weaker rate of advance in these
countries and in Norway must probably be
ascribed to the fact that they entered the
period of rising markets with far fewer unutilized
resources in respect both of labour
and productive capacity than the countries
where industrial production has showed a
greater increase, viz. Germany, Italy and Belgium.
But in the group of countries to which
The figures are based on provisional calculations,
which may be subject to correction as
additional statistics become available.
Norway belongs, the volume of industrial production
in 1950 stood considerably higher
over the prewar level than in most of the
countries in the other group.
The advance in Norway's total production
in 1955 was made possible by the fact that
both foreign and domestic demand remained
at a high level.
The strong rise in the international markets,
which in Western Europe commenced at
the 'beginning of 1954 and i USA in the
autumn of the same year, created still better
conditions for Norway's export industries in
1955 than in the year before. As usual, the
international boom has made itself felt in
rising prices of exported goods and services.
Freights rose very strongly, and the prices of
a number of export goods also showed an advance.
Terms of trade were very favourable.
But also the volume of exports was greater
than in the year before.
In the internal economy it is above all the
continued rise in investment activity which
has been the driving force in the development.
Gross investments, including repairs and
estimated at current prices, increased from
9,0 milliard kroner in 1954 to 9,4 milliard
kroner in 1955. The price-rise for investment
goods has on the whole been small in the past
year, chiefly because the prices of ships have
been lower than the year before, and estimated
at fixed prices (1950-prices) the gross
investments have increased in 1955 by between
4 and 5 per cent. Nearly the whole rise
can be ascribed to private investments.
In the above figure in current prices is included
an estimated reduction of stocks to
the amount of about 100 mill. kroner. The
gross investments in fixed assets were 9,5
milliard kroner, equivalent to about 36 per
cent of the gross national product. This is a
slightly higher rate of investment than in the
two previous years. The increase is due
mainly to investments in ships, which rose
very markedly in 1955. Also investments in
buildings and constructional works increased,
while investments in machinery and transport
equipment other than ships were somewhat
lower than in the year before.
Private consumption, estimated at current
prices, increased from 14,5 milliard kroner in
1.954 to 15,2 milliard kroner in 1955. Estimated
at fixed prices the increase amounted to
3 per cent. This is approximately equal to the