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Economy of Norway. Statistics, Data and Indicators

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


Norway Major Economic Indicators

Indicator Data Period
GDP Value 482 USD Billion 2021
GDP Annual Growth Rate 2.5 % 3Q/22
GDP Growth Rate 1.5 % 3Q/22
GDP per capita 77513 USD 2021
Inflation Rate YoY 5.9 % Dec/22
Interest Rate 2.75 % Jan/23
Unemployment Rate 3.1 % Dec/22
Wages 50550 NOK/Month | 5081.704 USD/Month 3Q/22
Balance of Trade 148775 NOK Million | 14.956 B USD Dec/22
Current Account 570571 NOK Million | 57.359 B USD 3Q/22
Foreign Exchange Reserves 717006 NOK Million | 72.079 B USD Dec/22
Government Debt 826889 NOK Million | 826.889 B USD 3Q/22


GDP Indicators

Indicator Data Period
GDP Value 482 USD Billion 2021
GDP Annual Growth Rate 2.5 % 3Q/22
GDP Growth Rate 1.5 % 3Q/22
GDP per capita 77513 USD 2021
Gross National Product 1552142 NOK Million | 156.034 USD Billion 3Q/22
GDP Constant Prices 937065 NOK Million | 94.202 B USD 3Q/22
GDP per capita PPP 65662 USD 2021
GDP From Agriculture  6048 NOK Million | 0.608 B USD 3Q/22
GDP From Construction  56889 NOK Million | 5.719 B USD 3Q/22
GDP From Manufacturing  60814 NOK Million | 6.114 B USD 3Q/22
GDP From Mining  1656 NOK Million | 0.166 B USD 3Q/22
GDP From Public Administration  59850 NOK Million | 6.017 B USD 3Q/22
GDP From Utilities  6417 NOK Million | 0.645 B USD 3Q/22


Budget Indicators

Indicator Data Period
Government Debt to GDP 43.2 % 2021
Government Budget Value 343418 NOK Million | 34.523 USD Billion 3Q/22
Government Spending 236532 NOK Million | 23.778 USD Billion 3Q/22
Government Debt 826889 NOK Million | 826.889 USD Billion 3Q/22
Government Revenues 718838 NOK Million | 72.264 USD Billion 3Q/22
Fiscal Expenditure  375420 NOK Million | 37.74 B USD 3Q/22
Government Budget to GDP 9.1 % 2021
Government Spending to GDP 49.2 % 2021
Military Expenditure 8252 USD Million | 8.252 B USD 2021


Inflation Indicators

Indicator Data Period
Consumer Price Index (CPI) 126 index points Dec/22
Export Prices 189 index points 4Q/22
Food Inflation 11.45 % Dec/22
Gasoline Prices 1.97 USD/Liter Dec/22
GDP Deflator 167 index points 3Q/22
Import Prices 204 index points 4Q/22
Inflation Rate YoY 5.9 % Dec/22
Producer Prices 214 index points Dec/22
Inflation Rate Mom 0.1 % Dec/22
Core Consumer Prices 121 Index Points Dec/22
Core Inflation Rate 5.8 % Dec/22
CPI Housing Utilities 134 Index Points Dec/22
CPI Transportation 128 Index Points Dec/22
Harmonised Consumer Prices 128 Index Points Dec/22
Producer Prices Change  18.7 % Dec/22


Trade Indicators

Indicator Data Period
Current Account to GDP 15 % 2021
Weapons Sales 72 USD Million 2020
Balance of Trade 148775 NOK Million | 14.956 USD Billion Dec/22
Capital Flows 545220 NOK Million | 54.81 USD Billion 3Q/22
Current Account 570571 NOK Million | 57.359 USD Billion 3Q/22
Exports 239749 NOK Million | 24.102 USD Billion Dec/22
External Debt 7971397 NOK Million | 801.351 USD Billion 3Q/22
Foreign Exchange Reserves 717006 NOK Million | 72.079 USD Billion Dec/22
Imports 90974 NOK Million | 9.145 USD Billion Dec/22
Terms of Trade  92.56 Index Points 4Q/22


Money Indicators

Indicator Data Period
Interbank Rate 3.31 % Feb/23
Interest Rate 2.75 % Jan/23
Loans to Private Sector 2173570 NOK Million | 218.505 USD Billion Nov/22
Money Supply M0 66597 NOK Million | 6.695 USD Billion Dec/22
Money Supply M1 2811368 NOK Million | 282.622 USD Billion Dec/22
Money Supply M2 3069452 NOK Million | 308.567 USD Billion Dec/22
Central Bank Balance Sheet 13693503 NOK Million | 1376.584 B USD Nov/22
Deposit Interest Rate 1.75 % Jan/23
Foreign Direct Investment 43365 NOK Million | 4.359 B USD 3Q/22


Labor Indicators

Indicator Data Period
Retirement Age Men 62 2022
Retirement Age Women 62 2021
Unemployment Rate 3.1 % Dec/22
Wages 50550 NOK/Month | 5081.704 USD/Month 3Q/22
Youth Unemployment Rate 10 % Dec/22
Employed Persons 2852 Thousand Person | 2.852 Million Person Dec/22
Employment Change  0.5 % 3Q/22
Employment Rate  69.9 % 4Q/22
Full Time Employment 2095 Thousand Person 3Q/22
Job Vacancies 96000 | 96 K 3Q/22
Labor Force Participation Rate 72.4 % 4Q/22
Long Term Unemployment Rate 0.6 % 3Q/22
Part Time Employment 649 Thousand Persons 3Q/22
Unemployed Persons 58777 Persons | 0.059 Million Persons Dec/22
Wage Growth  3.83 % 3Q/22


Taxes



Production Indicators

Indicator Data Period
Crude Oil Production 1665 BBL/D/1K Sep/22
Electricity Production 11019 GWh Oct/22
Industrial Production 4.5 % Nov/22
Mining Production -12.1 % Nov/22
Steel Production 41.2 Thousand Tonnes Dec/20
Industrial Production (MoM) -0.9 % Nov/22


Business Indicators

Indicator Data Period
Bankruptcies 296 companies Dec/22
Business Confidence -3.9 index points 4Q/22
Corruption Index 84 index points 2022
Corruption Rank 4 place 2022
Ease of Doing Business 9 place 2019
Manufacturing PMI 50 index points Jan/23
Manufacturing Production 0.2 % Nov/22
Competitiveness Index 78.05 Index Points 2019
Competitiveness Rank 17 2019
Leading Economic Index  0.2 % Nov/22


Consumer Indicators

Indicator Data Period
Consumer Confidence -38 index points 4Q/22
Private Debt To GDP 288 % 2021
Retail Sales MoM -3.6 % Dec/22
Retail Sales YoY -7.7 % Dec/22
Consumer Credit 4154937 NOK Million | 417.689 USD Billion Nov/22
Consumer Spending 422949 NOK Million | 42.518 USD Billion 3Q/22
Disposable Personal Income 350060 NOK Million | 35.191 B USD 3Q/22
Household Spending 4.3 % Dec/22
Households Debt To GDP 84.2 % 2Q/22
Households Debt To Income 201 % 2021


Housing Market

Indicator Data Period
New Home Sales  3034 Units Dec/22