Visitors to the EFTA States are frequently astonished at the high prices for goods and services. Official statistics confirm that the price levels in Iceland, Switzerland and Norway are the highest in Europe. In 2017, the overall price level in Iceland was 72 percent higher than the EU average, while the corresponding figures for Switzerland and Norway were 66 and 52 percent.
Although there have been substantial changes over time, Norway and Switzerland have been among the most expensive countries in Europe at least since the 1990s. High productivity of the work force, with corresponding high salaries, is an important factor behind the high price levels. Other factors influencing a country's price level are exchange rates and inflation.
Secondary sector production rose by 7.6% in 2nd quarter 2018 in comparison with the same quarter a year earlier. Turnover rose by 8.3%. These are provisional findings from the Federal Statistical Office (FSO).
In comparison with the previous year, industrial production grew in April by 9.5%, in May by 7.6% and in June by 9.0%. For the whole of 2nd quarter 2018, production increased by 8.3% in comparison with the same quarter a year earlier.
Construction production increased by 4.3% in 2nd quarter 2018 in comparison with the same quarter a year earlier. Production rose by 4.0% in building, and civil engineering also registered an increase (+2.4%). Lastly, specialised construction activities registered an increase of 4.4% in their production.
You may know that as part of the EEA agreement, Eurostat publishes EFTA data. However, information about EFTA States is not always part of any analysis in our publications.
To overcome this and provide users with complementary data, the EFTA office has decided to start publishing ad-hoc statistical bulletins. These bulletins will include detailed EFTA figures together with analysis. They intend to provide such bulletins, covering various subjects, at least twice a year.
The first of the series was published in July. The “Trade in Goods and Trading Partners of EFTA Member States 2017”, takes a look at the trading patterns of the four states generally and in one table with the UK in particular.
All data is taken from COMEXT with Statistics Norway supplying additional data.
Turnover in the retail sector rose by 1.1% in nominal terms in June 2018 compared with the previous year. Seasonally adjusted, nominal turnover rose by 0.6% compared with the previous month. These are provisional findings from the Federal Statistical Office (FSO).
Real turnover in the retail sector also adjusted for sales days and holidays rose by 0.3% in June 2018 compared with the previous year. Real growth takes inflation into consideration. Compared with the previous month, real, seasonally adjusted retail trade turnover registered an increase of 0.5%.