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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 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



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