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Norway GDP Expanding as Exports Increase

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Exports and domestic consumer demand prompted a greater than expected increase in the economy of Norway for the fourth quarter of 2014.

The largest economy in Scandinavia expanded its GDP by 0.5 percent, according to Statistics Norway. This excludes oil, gas and shipping. Exports rose 3.4 per cent in the fourth quarter, while petroleum and shipping increased by 2.5 per cent. The increase in exports was mainly due to machinery, other equipment, chemicals and minerals.