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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 362 USD Billion 2020
GDP Annual Growth Rate -1.4 % 1Q/21
GDP Growth Rate -0.6 % 1Q/21
GDP per capita 90885 USD 2020
Inflation Rate YoY 2.9 % Jun/21
Interest Rate 0 % Jun/21
Unemployment Rate 5 % Mar/21
Wages 49920 NOK/Month | 5729.35 USD/Month 1Q/21
Balance of Trade 25023 NOK Million | 2.872 B USD Jun/21
Current Account 94301 NOK Million | 10.823 B USD 1Q/21
Foreign Exchange Reserves 689302 NOK Million | 79.112 B USD Jun/21
Government Debt 765174 NOK Million | 765.174 B USD 1Q/21


GDP
vvp
362
USD Billion
#32 from 174 countries
GDP per capita
vvp
90885
USD
#2 from 169 countries


GDP Indicators

Indicator Data Period
GDP Value 362 USD Billion 2020
GDP Annual Growth Rate -1.4 % 1Q/21
GDP Growth Rate -0.6 % 1Q/21
GDP per capita 90885 USD 2020
Gross National Product 937345 NOK Million | 107.58 USD Billion 1Q/21
GDP Constant Prices 895250 NOK Million | 102.748 B USD 1Q/21
GDP per capita PPP 63586 USD 2020
GDP From Agriculture  5833 NOK Million | 0.669 B USD 1Q/21
GDP From Construction  52044 NOK Million | 5.973 B USD 1Q/21
GDP From Manufacturing  55788 NOK Million | 6.403 B USD 1Q/21
GDP From Mining  985 NOK Million | 0.113 B USD 1Q/21
GDP From Public Administration  55793 NOK Million | 6.403 B USD 1Q/21
GDP From Utilities  5648 NOK Million | 0.648 B USD 1Q/21


Budget Indicators

Indicator Data Period
Government Debt to GDP 40.6 % 2019
Government Budget Value -96018 NOK Million | -11.02 USD Billion 1Q/21
Government Spending 216517 NOK Million | 24.85 USD Billion 1Q/21
Government Debt 765174 NOK Million | 765.174 USD Billion 1Q/21
Government Revenues 340618 NOK Million | 39.093 USD Billion 1Q/21
Fiscal Expenditure  436636 NOK Million | 50.113 B USD 1Q/21
Government Budget to GDP 6.4 % 2019
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) 115 index points Jun/21
Export Prices 141 index points 1Q/21
Food Inflation -1.7 % Jun/21
Gasoline Prices 1.93 USD/Liter May/21
GDP Deflator 103 index points 1Q/21
Import Prices 158 index points 1Q/21
Inflation Rate YoY 2.9 % Jun/21
Producer Prices 127 index points Jun/21
Inflation Rate Mom 0.3 % Jun/21
Core Consumer Prices 114 Index Points Jun/21
Core Inflation Rate 1.4 % Jun/21
CPI Housing Utilities 119 Index Points Jun/21
CPI Transportation 117 Index Points Jun/21
Harmonised Consumer Prices 116 Index Points Jun/21
Producer Prices Change  37.1 % Jun/21


Trade Indicators

Indicator Data Period
Current Account to GDP 1.9 % 2020
Weapons Sales 72 USD Million 2020
Balance of Trade 25023 NOK Million | 2.872 USD Billion Jun/21
Capital Flows 98474 NOK Million | 11.302 USD Billion 1Q/21
Current Account 94301 NOK Million | 10.823 USD Billion 1Q/21
Exports 97877 NOK Million | 11.233 USD Billion Jun/21
External Debt 6063991 NOK Million | 695.968 USD Billion 1Q/21
Foreign Exchange Reserves 689302 NOK Million | 79.112 USD Billion Jun/21
Imports 72854 NOK Million | 8.361 USD Billion Jun/21
Terms of Trade  89.59 Index Points 1Q/21


Money Indicators

Indicator Data Period
Interbank Rate 0.26 % Jul/21
Interest Rate 0 % Jun/21
Loans to Private Sector 1971332 NOK Million | 226.251 USD Billion May/21
Money Supply M0 71710 NOK Million | 8.23 USD Billion May/21
Money Supply M1 2613836 NOK Million | 299.992 USD Billion May/21
Money Supply M2 2784666 NOK Million | 319.598 USD Billion May/21
Central Bank Balance Sheet 12417567 NOK Million | 1425.172 B USD Jun/21
Deposit Interest Rate -1 % Jun/21
Foreign Direct Investment 2217 NOK Million | 0.254 B USD 1Q/21


Labor Indicators

Indicator Data Period
Retirement Age Men 62 2020
Retirement Age Women 62 2020
Unemployment Rate 5 % Mar/21
Wages 49920 NOK/Month | 5729.35 USD/Month 1Q/21
Youth Unemployment Rate 12.8 % Mar/21
Employed Persons 2699 Thousand Person | 2.699 Million Person Mar/21
Employment Change  -0.3 % 1Q/21
Employment Rate  67.2 % 1Q/21
Full Time Employment 1937 Thousand Person 4Q/20
Job Vacancies 74600 | 74.6 K 1Q/21
Labor Force Participation Rate 70.6 % 1Q/21
Long Term Unemployment Rate 1.1 % 1Q/21
Part Time Employment 659 Thousand Persons 4Q/20
Unemployed Persons 103201 Persons | 0.103 Million Persons Jun/21
Wage Growth  2.74 % 1Q/21


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 1788 BBL/D/1K Mar/21
Electricity Production 12080 GWh May/21
Industrial Production 2.1 % May/21
Mining Production -16.1 % Apr/21
Steel Production 41.2 Thousand Tonnes Dec/20
Industrial Production (MoM) -0.3 % May/21


Business Indicators

Indicator Data Period
Bankruptcies 278 companies May/21
Business Confidence 8.2 index points 1Q/21
Corruption Index 84 index points 2020
Corruption Rank 7 place 2020
Ease of Doing Business 9 place 2019
Manufacturing PMI 60.8 index points Jun/21
Manufacturing Production 7.6 % May/21
Competitiveness Index 78.05 Index Points 2019
Competitiveness Rank 17 2019
Leading Economic Index  -1 % Apr/21


Consumer Indicators

Indicator Data Period
Consumer Confidence 2.5 index points 2Q/21
Private Debt To GDP 316 % 2020
Retail Sales MoM 5.8 % May/21
Retail Sales YoY 5.6 % May/21
Consumer Credit 3877392 NOK Million | 445.011 USD Billion May/21
Consumer Spending 351903 NOK Million | 40.388 USD Billion 1Q/21
Disposable Personal Income 361682 NOK Million | 41.51 B USD 1Q/21
Household Spending 4.9 % May/21
Households Debt To GDP 115 % 4Q/20
Households Debt To Income 208 % 2020


Housing Market

Indicator Data Period
New Home Sales  11968 Units Jun/21


Government Debt
dept_icon
765.174
USD Billion
#12 from 65 countries
Balance of Trade
balance_icon
2.872
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
79.112
USD Billion
#31 from 114 countries


Government Budget Value
balance_icon
-11.02
USD Billion
#10 from 113 countries
Inflation Rate
inflation_icon
2.9
%
#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
%
#129 from 171 countries
Wages
salary_icon
5729.35
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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