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  3. Norway

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 -4.7 % 2Q/20
GDP Growth Rate -5.1 % 2Q/20
GDP per capita 92556 USD 2019
Inflation Rate YoY 1.6 % Sep/20
Interest Rate 0 % Sep/20
Unemployment Rate 5.2 % Jul/20
Wages 49430 NOK/Month | 5333.854 USD/Month 2Q/20
Balance of Trade -8041 NOK Million | -0.868 B USD Sep/20
Current Account 20482 NOK Million | 2.21 B USD 2Q/20
Foreign Exchange Reserves 555648 NOK Million | 59.958 B USD Sep/20
Government Debt 634724 NOK Million | 634.724 B USD 2Q/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 -4.7 % 2Q/20
GDP Growth Rate -5.1 % 2Q/20
GDP per capita 92556 USD 2019
Gross National Product 799964 NOK Million | 86.322 USD Billion 2Q/20
GDP Constant Prices 798949 NOK Million | 86.212 B USD 2Q/20
GDP per capita PPP 63633 USD 2019
GDP From Agriculture  5298 NOK Million | 0.572 B USD 2Q/20
GDP From Construction  47938 NOK Million | 5.173 B USD 2Q/20
GDP From Manufacturing  51370 NOK Million | 5.543 B USD 2Q/20
GDP From Mining  1224 NOK Million | 0.132 B USD 2Q/20
GDP From Public Administration  51704 NOK Million | 5.579 B USD 2Q/20
GDP From Utilities  5606 NOK Million | 0.605 B USD 2Q/20


Budget Indicators

Indicator Data Period
Government Debt to GDP 40.6 % 2019
Government Budget Value -114258 NOK Million | -12.329 USD Billion 2Q/20
Government Spending 200976 NOK Million | 21.687 USD Billion 2Q/20
Government Debt 634724 NOK Million | 634.724 USD Billion 2Q/20
Government Revenues 297964 NOK Million | 32.152 USD Billion 2Q/20
Fiscal Expenditure  412222 NOK Million | 44.482 B USD 2Q/20
Government Budget to GDP 6.4 % 2019
Government Spending to GDP 51.8 % 2019
Military Expenditure 6824 USD Million | 6.824 B USD 2018


Inflation Indicators

Indicator Data Period
Consumer Price Index (CPI) 113 index points Sep/20
Export Prices 133 index points 3Q/20
Food Inflation 3.8 % Sep/20
Gasoline Prices 1.7 USD/Liter Aug/20
GDP Deflator 101 index points 2Q/20
Import Prices 154 index points 3Q/20
Inflation Rate YoY 1.6 % Sep/20
Producer Prices 96.6 index points Sep/20
Inflation Rate Mom 0.4 % Sep/20
Core Consumer Prices 113 Index Points Sep/20
Core Inflation Rate 3.3 % Sep/20
CPI Housing Utilities 111 Index Points Sep/20
CPI Transportation 114 Index Points Sep/20
Harmonised Consumer Prices 114 Index Points Sep/20
Producer Prices Change  -9.6 % Sep/20


Trade Indicators

Indicator Data Period
Current Account to GDP 4.1 % 2019
Weapons Sales 64 USD Million 2018
Balance of Trade -8041 NOK Million | -0.868 USD Billion Sep/20
Capital Flows 12534 NOK Million | 1.353 USD Billion 2Q/20
Current Account 20482 NOK Million | 2.21 USD Billion 2Q/20
Exports 60419 NOK Million | 6.52 USD Billion Sep/20
External Debt 6328877 NOK Million | 682.932 USD Billion 2Q/20
Foreign Exchange Reserves 555648 NOK Million | 59.958 USD Billion Sep/20
Imports 68460 NOK Million | 7.387 USD Billion Sep/20
Terms of Trade  86.37 Index Points 3Q/20


Money Indicators

Indicator Data Period
Interbank Rate 0.32 % Oct/20
Interest Rate 0 % Sep/20
Loans to Private Sector 1901021 NOK Million | 205.134 USD Billion Aug/20
Money Supply M0 145033 NOK Million | 15.65 USD Billion Aug/20
Money Supply M1 2414196 NOK Million | 260.509 USD Billion Aug/20
Money Supply M2 2590465 NOK Million | 279.53 USD Billion Aug/20
Central Bank Balance Sheet 11293795 NOK Million | 1218.682 B USD May/20
Deposit Interest Rate -1 % Sep/20
Foreign Direct Investment -34300 NOK Million | -3.701 B USD 2Q/20


Labor Indicators

Indicator Data Period
Retirement Age Men 62 2020
Retirement Age Women 62 2020
Unemployment Rate 5.2 % Jul/20
Wages 49430 NOK/Month | 5333.854 USD/Month 2Q/20
Youth Unemployment Rate 13.3 % Jul/20
Employed Persons 2688 Thousand Person | 2.688 Million Person Jul/20
Employment Change  -1.3 % 2Q/20
Employment Rate  66.7 % 2Q/20
Full Time Employment 1933 Thousand Person 2Q/20
Job Vacancies 63900 | 63.9 K 4Q/19
Labor Force Participation Rate 70.1 % 2Q/20
Long Term Unemployment Rate 0.8 % 1Q/20
Part Time Employment 653 Thousand Persons 2Q/20
Unemployed Persons 122633 Persons | 0.123 Million Persons Sep/20
Wage Growth  3.09 % 2Q/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 1560 BBL/D/1K Jun/20
Electricity Production 12368 GWh Dec/19
Industrial Production 8.3 % Aug/20
Mining Production 5.8 % May/20
Steel Production 60 Thousand Tonnes Aug/20
Industrial Production (MoM) 1.1 % Aug/20


Business Indicators

Indicator Data Period
Bankruptcies 219 companies Aug/20
Business Confidence -10.1 index points 2Q/20
Corruption Index 84 index points 2019
Corruption Rank 7 place 2019
Ease of Doing Business 9 place 2019
Manufacturing PMI 50.3 index points Sep/20
Manufacturing Production -2.5 % Aug/20
Competitiveness Index 78.05 Index Points 2019
Competitiveness Rank 17 2019
Leading Economic Index  -6.3 % Jun/20


Consumer Indicators

Indicator Data Period
Consumer Confidence -6.6 index points 3Q/20
Private Debt To GDP 275 % 2018
Retail Sales MoM -4.9 % Aug/20
Retail Sales YoY 8.2 % Aug/20
Consumer Credit 3740696 NOK Million | 403.648 USD Billion Aug/20
Consumer Spending 326437 NOK Million | 35.225 USD Billion 2Q/20
Disposable Personal Income 355373 NOK Million | 38.347 B USD 2Q/20
Household Spending -3.8 % Aug/20
Households Debt To GDP 106 % 1Q/20
Households Debt To Income 202 % 2018


Housing Market

Indicator Data Period
New Home Sales  11133 Units Sep/20


Government Debt
dept_icon
634.724
USD Billion
#12 from 65 countries
Balance of Trade
balance_icon
-0.868
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
59.958
USD Billion
#31 from 114 countries


Government Budget Value
balance_icon
-12.329
USD Billion
#10 from 113 countries
Inflation Rate
inflation_icon
1.6
%
#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
5.2
%
#129 from 171 countries
Wages
salary_icon
5333.854
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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