Economy of Norway. Statistics, Data and Indicators
Norway
| 99AAA | Credit rank #9 |
| 176.27 | Quality of life #12 |
| 4 | Corruption rank#7 |
| 9 | Ease of doing business#7 |
Norway Major Economic Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 482 USD Billion | 2021 |
| GDP Annual Growth Rate | 4.8 % | 1Q/22 |
| GDP Growth Rate | -1 % | 1Q/22 |
| GDP per capita | 75059 USD | 2020 |
| Inflation Rate YoY | 5.7 % | May/22 |
| Interest Rate | 1.25 % | Jun/22 |
| Unemployment Rate | 3.3 % | Mar/22 |
| Wages | 52180 NOK/Month | 5158.471 USD/Month | 1Q/22 |
| Balance of Trade | 86600 NOK Million | 8.561 B USD | May/22 |
| Current Account | 341055 NOK Million | 33.716 B USD | 1Q/22 |
| Foreign Exchange Reserves | 764451 NOK Million | 75.573 B USD | May/22 |
| Government Debt | 797324 NOK Million | 797.324 B USD | 1Q/22 |
GDP Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 482 USD Billion | 2021 |
| GDP Annual Growth Rate | 4.8 % | 1Q/22 |
| GDP Growth Rate | -1 % | 1Q/22 |
| GDP per capita | 75059 USD | 2020 |
| Gross National Product | 1268528 NOK Million | 125.406 USD Billion | 1Q/22 |
| GDP Constant Prices | 928081 NOK Million | 91.749 B USD | 1Q/22 |
| GDP per capita PPP | 63586 USD | 2020 |
| GDP From Agriculture | 5772 NOK Million | 0.571 B USD | 1Q/22 |
| GDP From Construction | 54472 NOK Million | 5.385 B USD | 1Q/22 |
| GDP From Manufacturing | 55213 NOK Million | 5.458 B USD | 1Q/22 |
| GDP From Mining | 1603 NOK Million | 0.158 B USD | 1Q/22 |
| GDP From Public Administration | 58443 NOK Million | 5.778 B USD | 1Q/22 |
| GDP From Utilities | 6059 NOK Million | 0.599 B USD | 1Q/22 |
Budget Indicators
| Indicator | Data | Period |
|---|---|---|
| Government Debt to GDP | 43.2 % | 2021 |
| Government Budget Value | 94984 NOK Million | 9.39 USD Billion | 1Q/22 |
| Government Spending | 228398 NOK Million | 22.579 USD Billion | 1Q/22 |
| Government Debt | 797324 NOK Million | 797.324 USD Billion | 1Q/22 |
| Government Revenues | 527551 NOK Million | 52.153 USD Billion | 1Q/22 |
| Fiscal Expenditure | 432567 NOK Million | 42.763 B USD | 1Q/22 |
| Government Budget to GDP | 9.1 % | 2021 |
| Government Spending to GDP | 58.4 % | 2020 |
| Military Expenditure | 7514 USD Million | 7.514 B USD | 2020 |
Inflation Indicators
| Indicator | Data | Period |
|---|---|---|
| Consumer Price Index (CPI) | 122 index points | May/22 |
| Export Prices | 183 index points | 1Q/22 |
| Food Inflation | 2.6 % | May/22 |
| Gasoline Prices | 2.3 USD/Liter | May/22 |
| GDP Deflator | 133 index points | 1Q/22 |
| Import Prices | 176 index points | 1Q/22 |
| Inflation Rate YoY | 5.7 % | May/22 |
| Producer Prices | 200 index points | May/22 |
| Inflation Rate Mom | 0.2 % | May/22 |
| Core Consumer Prices | 117 Index Points | May/22 |
| Core Inflation Rate | 3.4 % | May/22 |
| CPI Housing Utilities | 128 Index Points | May/22 |
| CPI Transportation | 126 Index Points | May/22 |
| Harmonised Consumer Prices | 123 Index Points | May/22 |
| Producer Prices Change | 64.6 % | May/22 |
Trade Indicators
| Indicator | Data | Period |
|---|---|---|
| Current Account to GDP | 2 % | 2020 |
| Weapons Sales | 72 USD Million | 2020 |
| Balance of Trade | 86600 NOK Million | 8.561 USD Billion | May/22 |
| Capital Flows | 320040 NOK Million | 31.639 USD Billion | 1Q/22 |
| Current Account | 341055 NOK Million | 33.716 USD Billion | 1Q/22 |
| Exports | 175836 NOK Million | 17.383 USD Billion | May/22 |
| External Debt | 6462276 NOK Million | 638.855 USD Billion | 1Q/22 |
| Foreign Exchange Reserves | 764451 NOK Million | 75.573 USD Billion | May/22 |
| Imports | 89219 NOK Million | 8.82 USD Billion | May/22 |
| Terms of Trade | 104 Index Points | 1Q/22 |
Money Indicators
| Indicator | Data | Period |
|---|---|---|
| Interbank Rate | 1.67 % | Jul/22 |
| Interest Rate | 1.25 % | Jun/22 |
| Loans to Private Sector | 2081908 NOK Million | 205.816 USD Billion | May/22 |
| Money Supply M0 | 64465 NOK Million | 6.373 USD Billion | May/22 |
| Money Supply M1 | 2833493 NOK Million | 280.117 USD Billion | May/22 |
| Money Supply M2 | 3031152 NOK Million | 299.657 USD Billion | May/22 |
| Central Bank Balance Sheet | 12718526 NOK Million | 1257.343 B USD | May/22 |
| Deposit Interest Rate | -0.25 % | May/22 |
| Foreign Direct Investment | -30582 NOK Million | -3.023 B USD | 4Q/21 |
Labor Indicators
| Indicator | Data | Period |
|---|---|---|
| Retirement Age Men | 62 | 2021 |
| Retirement Age Women | 62 | 2021 |
| Unemployment Rate | 3.3 % | Mar/22 |
| Wages | 52180 NOK/Month | 5158.471 USD/Month | 1Q/22 |
| Youth Unemployment Rate | 9.9 % | Mar/22 |
| Employed Persons | 2825 Thousand Person | 2.825 Million Person | Mar/22 |
| Employment Change | 1.3 % | 4Q/21 |
| Employment Rate | 69.9 % | 1Q/22 |
| Full Time Employment | 2026 Thousand Person | 4Q/21 |
| Job Vacancies | 86300 | 86.3 K | 4Q/21 |
| Labor Force Participation Rate | 72.3 % | 1Q/22 |
| Long Term Unemployment Rate | 0.9 % | 4Q/21 |
| Part Time Employment | 664 Thousand Persons | 4Q/21 |
| Unemployed Persons | 62901 Persons | 0.063 Million Persons | Jun/22 |
| Wage Growth | 2.92 % | 1Q/22 |
Taxes
| Indicator | Data | Period |
|---|---|---|
| Corporate Tax Rate | 22 % | 2021 |
| Personal Income Tax Rate | 38.2 % | 2021 |
| Sales Tax Rate | 25 % | 2021 |
| Social Security Rate | 22.3 % | 2021 |
| Social Security Rate For Companies | 14.1 % | 2021 |
| Social Security Rate For Employees | 8.2 % | 2021 |
Production Indicators
| Indicator | Data | Period |
|---|---|---|
| Crude Oil Production | 1791 BBL/D/1K | Feb/22 |
| Electricity Production | 11141 GWh | Apr/22 |
| Industrial Production | 3 % | Apr/22 |
| Mining Production | 1.7 % | Mar/22 |
| Steel Production | 41.2 Thousand Tonnes | Dec/20 |
| Industrial Production (MoM) | -0.5 % | Apr/22 |
Business Indicators
| Indicator | Data | Period |
|---|---|---|
| Bankruptcies | 338 companies | May/22 |
| Business Confidence | 8.8 index points | 1Q/22 |
| Corruption Index | 85 index points | 2021 |
| Corruption Rank | 4 place | 2021 |
| Ease of Doing Business | 9 place | 2019 |
| Manufacturing PMI | 56.4 index points | Jun/22 |
| Manufacturing Production | 2.4 % | Apr/22 |
| Competitiveness Index | 78.05 Index Points | 2019 |
| Competitiveness Rank | 17 | 2019 |
| Leading Economic Index | 1 % | Mar/22 |
Consumer Indicators
| Indicator | Data | Period |
|---|---|---|
| Consumer Confidence | -11.7 index points | 2Q/22 |
| Private Debt To GDP | 316 % | 2020 |
| Retail Sales MoM | -0.9 % | May/22 |
| Retail Sales YoY | -8.8 % | May/22 |
| Consumer Credit | 4058891 NOK Million | 401.259 USD Billion | May/22 |
| Consumer Spending | 402386 NOK Million | 39.78 USD Billion | 1Q/22 |
| Disposable Personal Income | 373222 NOK Million | 36.896 B USD | 4Q/21 |
| Household Spending | -2.4 % | Mar/22 |
| Households Debt To GDP | 106 % | 3Q/21 |
| Households Debt To Income | 208 % | 2020 |
Housing Market
| Indicator | Data | Period |
|---|---|---|
| New Home Sales | 10436 Units | May/22 |
