Norway: impact of COVID-19 on economy

Due to the coronavirus (COVID-19) outbreak in 2020, many Norwegian companies stated that they have experienced lower demand and cancellations. This is the result of a survey among member companies of the Confederation of Norwegian Enterprise (NHO), conducted regularly. In March 2020, 68 percent experienced lower demand or cancellations, which had sunk to 49 percent in January 2021. Furthermore, there was an improvement of the situation over the summer of 2021, with fewer companies in risk of bankruptcies, fewer companies experiencing liquidity problems, and fewer experiencing a lower turnover than usual. However, in December 2021, these numbers increased again after COVID-19-cases started to increase again over the winter.

The first case of COVID-19 in Norway was confirmed on February 26, 2020. For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Fact and Figures page.

Consequences of the coronavirus (COVID-19) for companies in Norway from 2020 to 2022

Characteristic	Mar 2020	Jun 2020	Jan 2021	May 2021	Sep 2021	Dec 2021	Mar 2022
Have experienced lower turnover than usual	-	-	-	42%	26%	33%	31%
Are planning permanent dismissals	-	19%	17%	-	-	-	-
Experience substantial risk of bankruptcy	-	14%	14%	11%	7%	13%	-
Experience urgent liquidity problems	-	19%	16%	15%	10%	15%	-
Have completed (temporary) layoffs	24%	-	29%	-	-	-	-
Experienced lower demand or cancellations	68%	-	49%	-	-	-	-
Think it may be appropriate for the company to lay off (more) employees shortly	79%	-	-	-	-	-	-

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Release date

March 2022

More information

Region

Norway

Survey time period

March 2020 to March 2022

Special properties

Member companies of NHO (Næringslivets Hovedorganisasjon)

Supplementary notes

This is a member survey conducted by Næringslivets Hovedorganisasjon, NHO, The Confederation of Norwegian Enterprise. NHO is Norway’s largest organisation for employers and the leading business lobbyist, with more than 28,000 membership companies.

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