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 | 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
| Indicator | Data | Period |
|---|---|---|
| Corporate Tax Rate | 22 % | 2022 |
| Personal Income Tax Rate | 38.2 % | 2021 |
| Sales Tax Rate | 25 % | 2022 |
| Social Security Rate | 22.1 % | 2022 |
| Social Security Rate For Companies | 14.1 % | 2022 |
| Social Security Rate For Employees | 8 % | 2022 |
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 |
