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Economy of Norway. Statistics, Data and Indicators

flag
Norway
99AAA Credit rank #9
176.27 Quality of life #12
7 Corruption rank#7
9 Ease of doing business#7
Norway


Norway Major Economic Indicators

Indicator Data Period
GDP Value 403 USD Billion 2019
GDP Annual Growth Rate -0.6 % 4Q/20
GDP Growth Rate 0.6 % 4Q/20
GDP per capita 92556 USD 2019
Inflation Rate YoY 3.1 % Mar/21
Interest Rate 0 % Mar/21
Unemployment Rate 5 % Nov/20
Wages 47970 NOK/Month | 5746.314 USD/Month 4Q/20
Balance of Trade 25448 NOK Million | 3.048 B USD Mar/21
Current Account 9277 NOK Million | 1.111 B USD 4Q/20
Foreign Exchange Reserves 650880 NOK Million | 77.969 B USD Mar/21
Government Debt 637963 NOK Million | 637.963 B USD 4Q/20


GDP
vvp
403
USD Billion
#32 from 174 countries
GDP per capita
vvp
92556
USD
#2 from 169 countries


GDP Indicators

Indicator Data Period
GDP Value 403 USD Billion 2019
GDP Annual Growth Rate -0.6 % 4Q/20
GDP Growth Rate 0.6 % 4Q/20
GDP per capita 92556 USD 2019
Gross National Product 904222 NOK Million | 108.317 USD Billion 4Q/20
GDP Constant Prices 900102 NOK Million | 107.823 B USD 4Q/20
GDP per capita PPP 63633 USD 2019
GDP From Agriculture  5481 NOK Million | 0.657 B USD 4Q/20
GDP From Construction  51849 NOK Million | 6.211 B USD 4Q/20
GDP From Manufacturing  54683 NOK Million | 6.55 B USD 4Q/20
GDP From Mining  1463 NOK Million | 0.175 B USD 4Q/20
GDP From Public Administration  55608 NOK Million | 6.661 B USD 4Q/20
GDP From Utilities  5759 NOK Million | 0.69 B USD 4Q/20


Budget Indicators

Indicator Data Period
Government Debt to GDP 40.6 % 2019
Government Budget Value -68692 NOK Million | -8.229 USD Billion 4Q/20
Government Spending 220461 NOK Million | 26.409 USD Billion 4Q/20
Government Debt 637963 NOK Million | 637.963 USD Billion 4Q/20
Government Revenues 326884 NOK Million | 39.157 USD Billion 4Q/20
Fiscal Expenditure  395576 NOK Million | 47.386 B USD 4Q/20
Government Budget to GDP 6.4 % 2019
Government Spending to GDP 51.8 % 2019
Military Expenditure 7399 USD Million | 7.399 B USD 2019


Inflation Indicators

Indicator Data Period
Consumer Price Index (CPI) 115 index points Mar/21
Export Prices 130 index points 4Q/20
Food Inflation -0.3 % Mar/21
Gasoline Prices 1.8 USD/Liter Feb/21
GDP Deflator 97.17 index points 4Q/20
Import Prices 154 index points 4Q/20
Inflation Rate YoY 3.1 % Mar/21
Producer Prices 118 index points Mar/21
Inflation Rate Mom -0.3 % Mar/21
Core Consumer Prices 113 Index Points Mar/21
Core Inflation Rate 2.7 % Mar/21
CPI Housing Utilities 118 Index Points Apr/21
CPI Transportation 115 Index Points Mar/21
Harmonised Consumer Prices 116 Index Points Mar/21
Producer Prices Change  18.4 % Mar/21


Trade Indicators

Indicator Data Period
Current Account to GDP 1.9 % 2020
Weapons Sales 72 USD Million 2020
Balance of Trade 25448 NOK Million | 3.048 USD Billion Mar/21
Capital Flows -70605 NOK Million | -8.458 USD Billion 4Q/20
Current Account 9277 NOK Million | 1.111 USD Billion 4Q/20
Exports 98133 NOK Million | 11.755 USD Billion Mar/21
External Debt 6151512 NOK Million | 736.888 USD Billion 4Q/20
Foreign Exchange Reserves 650880 NOK Million | 77.969 USD Billion Mar/21
Imports 72686 NOK Million | 8.707 USD Billion Mar/21
Terms of Trade  84.12 Index Points 4Q/20


Money Indicators

Indicator Data Period
Interbank Rate 0.32 % Apr/21
Interest Rate 0 % Mar/21
Loans to Private Sector 1943789 NOK Million | 232.846 USD Billion Feb/21
Money Supply M0 71953 NOK Million | 8.619 USD Billion Feb/21
Money Supply M1 2526071 NOK Million | 302.597 USD Billion Feb/21
Money Supply M2 2695383 NOK Million | 322.879 USD Billion Feb/21
Central Bank Balance Sheet 11667529 NOK Million | 1397.65 B USD Nov/20
Deposit Interest Rate -1 % Mar/21
Foreign Direct Investment -24017 NOK Million | -2.877 B USD 4Q/20


Labor Indicators

Indicator Data Period
Retirement Age Men 62 2020
Retirement Age Women 62 2020
Unemployment Rate 5 % Nov/20
Wages 47970 NOK/Month | 5746.314 USD/Month 4Q/20
Youth Unemployment Rate 11.5 % Nov/20
Employed Persons 2709 Thousand Person | 2.709 Million Person Nov/20
Employment Change  0.7 % 4Q/20
Employment Rate  67 % 3Q/20
Full Time Employment 1937 Thousand Person 4Q/20
Job Vacancies 63900 | 63.9 K 4Q/19
Labor Force Participation Rate 70.3 % 4Q/20
Long Term Unemployment Rate 0.9 % 3Q/20
Part Time Employment 659 Thousand Persons 4Q/20
Unemployed Persons 129503 Persons | 0.13 Million Persons Mar/21
Wage Growth  1.21 % 4Q/20


Taxes

Indicator Data Period
Corporate Tax Rate 22 % 2020
Personal Income Tax Rate 38.2 % 2020
Sales Tax Rate 25 % 2020
Social Security Rate 22.3 % 2020
Social Security Rate For Companies 14.1 % 2020
Social Security Rate For Employees 8.2 % 2020


Production Indicators

Indicator Data Period
Crude Oil Production 1827 BBL/D/1K Dec/20
Electricity Production 17452 GWh Jan/21
Industrial Production 1.5 % Feb/21
Mining Production -12.1 % Jan/21
Steel Production 41.2 Thousand Tonnes Dec/20
Industrial Production (MoM) -1.2 % Feb/21


Business Indicators

Indicator Data Period
Bankruptcies 289 companies Feb/21
Business Confidence 3.1 index points 4Q/20
Corruption Index 84 index points 2020
Corruption Rank 7 place 2020
Ease of Doing Business 9 place 2019
Manufacturing PMI 60.4 index points Mar/21
Manufacturing Production 0.8 % Feb/21
Competitiveness Index 78.05 Index Points 2019
Competitiveness Rank 17 2019
Leading Economic Index  1.9 % Dec/20


Consumer Indicators

Indicator Data Period
Consumer Confidence -5.1 index points 1Q/21
Private Debt To GDP 288 % 2019
Retail Sales MoM -0.3 % Feb/21
Retail Sales YoY 6.1 % Feb/21
Consumer Credit 3827333 NOK Million | 458.475 USD Billion Feb/21
Consumer Spending 363507 NOK Million | 43.544 USD Billion 4Q/20
Disposable Personal Income 355373 NOK Million | 42.57 B USD 2Q/20
Household Spending 0.2 % Feb/21
Households Debt To GDP 113 % 3Q/20
Households Debt To Income 202 % 2018


Housing Market

Indicator Data Period
New Home Sales  9665 Units Mar/21


Government Debt
dept_icon
637.963
USD Billion
#12 from 65 countries
Balance of Trade
balance_icon
3.048
USD Billion
#83 from 173 countries


Gold Reserves
gold_reserve_icon
N/A
N/A
#N/A from N/A countries
Foreign Exchange Reserves
gold_reserve_icon
77.969
USD Billion
#31 from 114 countries


Government Budget Value
balance_icon
-8.229
USD Billion
#10 from 113 countries
Inflation Rate
inflation_icon
3.1
%
#106 from 174 countries


Interest Rate
discount_rate_icon
0
%
#121 from 159 countries
Bank Lending Rate
credit_rate_icon
N/A%
#N/A from N/A countries


Unemployment Rate
unemployment_icon
5
%
#129 from 171 countries
Wages
salary_icon
5746.314
USD/Month
#5 from 82 countries


Retirement Age
man_icon
woman_icon
62
62
men
women
Taxes
company_icon
private_icon
22%
38.2%
company profits
income of individuals


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