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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 450 USD Billion 2019
GDP Annual Growth Rate 1.8 % 4Q/19
GDP Growth Rate 1.6 % 4Q/19
GDP per capita 92121 USD 2018
Inflation Rate YoY 0.9 % Feb/20
Interest Rate 0.25 % Mar/20
Unemployment Rate 3.8 % Jan/20
Wages 45900 NOK/Month | 4333.909 USD/Month 3Q/19
Balance of Trade 18286 NOK Million | 1.727 B USD Feb/20
Current Account 19073 NOK Million | 1.801 B USD 4Q/19
Foreign Exchange Reserves 635601 NOK Million | 60.014 B USD Feb/20
Government Debt 510625 NOK Million | 510.625 B USD 4Q/19


GDP
vvp
450
USD Billion
#32 from 174 countries
GDP per capita
vvp
92121
USD
#2 from 169 countries


GDP Indicators

Indicator Data Period
GDP Value 450 USD Billion 2019
GDP Annual Growth Rate 1.8 % 4Q/19
GDP Growth Rate 1.6 % 4Q/19
GDP per capita 92121 USD 2018
Gross National Product 919915 NOK Million | 86.859 USD Billion 4Q/19
GDP Constant Prices 857009 NOK Million | 80.919 B USD 4Q/19
GDP per capita PPP 65441 USD 2018
GDP From Agriculture  5196 NOK Million | 0.491 B USD 4Q/19
GDP From Construction  53006 NOK Million | 5.005 B USD 4Q/19
GDP From Manufacturing  55957 NOK Million | 5.283 B USD 4Q/19
GDP From Mining  1340 NOK Million | 0.127 B USD 4Q/19
GDP From Public Administration  51490 NOK Million | 4.862 B USD 4Q/19
GDP From Utilities  5689 NOK Million | 0.537 B USD 4Q/19


Budget Indicators

Indicator Data Period
Government Debt to GDP 36.3 % 2018
Government Budget Value 6390 NOK Million | 0.603 USD Billion 4Q/19
Government Spending 205596 NOK Million | 19.413 USD Billion 4Q/19
Government Debt 510625 NOK Million | 510.625 USD Billion 4Q/19
Government Revenues 354820 NOK Million | 33.502 USD Billion 4Q/19
Fiscal Expenditure  348430 NOK Million | 32.899 B USD 4Q/19
Government Budget to GDP 7.3 % 2018
Government Spending to GDP 48.7 % 2018
Military Expenditure 6824 USD Million | 6.824 B USD 2018


Inflation Indicators

Indicator Data Period
Consumer Price Index (CPI) 111 index points Feb/20
Export Prices 145 index points 4Q/19
Food Inflation 2 % Feb/20
Gasoline Prices 1.66 USD/Liter Feb/20
GDP Deflator 104 index points 4Q/19
Import Prices 154 index points 4Q/19
Inflation Rate YoY 0.9 % Feb/20
Producer Prices 108 index points Feb/20
Inflation Rate Mom -0.1 % Feb/20
Core Consumer Prices 110 Index Points Feb/20
Core Inflation Rate 2.1 % Feb/20
CPI Housing Utilities 112 Index Points Feb/20
CPI Transportation 112 Index Points Feb/20
Harmonised Consumer Prices 112 Index Points Feb/20
Producer Prices Change  -7.4 % Feb/20


Trade Indicators

Indicator Data Period
Current Account to GDP 7.1 % 2018
Weapons Sales 64 USD Million 2018
Balance of Trade 18286 NOK Million | 1.727 USD Billion Feb/20
Capital Flows 2216 NOK Million | 0.209 USD Billion 4Q/19
Current Account 19073 NOK Million | 1.801 USD Billion 4Q/19
Exports 75470 NOK Million | 7.126 USD Billion Feb/20
External Debt 5733170 NOK Million | 541.33 USD Billion 4Q/19
Foreign Exchange Reserves 635601 NOK Million | 60.014 USD Billion Feb/20
Imports 57184 NOK Million | 5.399 USD Billion Feb/20
Terms of Trade  94.46 Index Points 4Q/19


Money Indicators

Indicator Data Period
Interbank Rate 1.04 % Mar/20
Interest Rate 0.25 % Mar/20
Loans to Private Sector 1855742 NOK Million | 175.22 USD Billion Jan/20
Money Supply M0 118761 NOK Million | 11.213 USD Billion Jan/20
Money Supply M1 2182221 NOK Million | 206.047 USD Billion Jan/20
Money Supply M2 2364612 NOK Million | 223.268 USD Billion Jan/20
Central Bank Balance Sheet 10929730 NOK Million | 1031.993 B USD Nov/19
Deposit Interest Rate 0 % Mar/20
Foreign Direct Investment 27945 NOK Million | 2.639 B USD 3Q/19


Labor Indicators

Indicator Data Period
Retirement Age Men 62 2019
Retirement Age Women 62 2019
Unemployment Rate 3.8 % Jan/20
Wages 45900 NOK/Month | 4333.909 USD/Month 3Q/19
Youth Unemployment Rate 10.1 % Dec/19
Employed Persons 2737 Thousand Person | 2.737 Million Person Jan/20
Employment Change  0.2 % 4Q/19
Employment Rate  67.9 % 4Q/19
Full Time Employment 1961 Thousand Person 3Q/19
Job Vacancies 65800 | 65.8 K 3Q/19
Labor Force Participation Rate 70.5 % 4Q/19
Long Term Unemployment Rate 0.8 % 3Q/19
Part Time Employment 679 Thousand Persons 3Q/19
Unemployed Persons 75150 Persons | 0.075 Million Persons Feb/20
Wage Growth  3.46 % 4Q/19


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 1785 BBL/D/1K Dec/19
Electricity Production 12368 GWh Dec/19
Industrial Production 0.3 % Jan/20
Mining Production 13.4 % Dec/19
Steel Production 51.83 Thousand Tonnes Feb/20
Industrial Production (MoM) -2.3 % Jan/20


Business Indicators

Indicator Data Period
Bankruptcies 418 companies Feb/20
Business Confidence 0.7 index points 4Q/19
Corruption Index 84 index points 2019
Corruption Rank 7 place 2019
Ease of Doing Business 9 place 2019
Manufacturing PMI 52.2 index points Feb/20
Manufacturing Production 1.2 % Jan/20
Competitiveness Index 78.05 Index Points 2019
Competitiveness Rank 17 2019
Leading Economic Index  0.2 % Dec/19


Consumer Indicators

Indicator Data Period
Consumer Confidence 14.5 index points 1Q/20
Private Debt To GDP 275 % 2018
Retail Sales MoM 2 % Feb/20
Retail Sales YoY 2 % Feb/20
Consumer Credit 3641151 NOK Million | 343.8 USD Billion Jan/20
Consumer Spending 384563 NOK Million | 36.311 USD Billion 4Q/19
Disposable Personal Income 388871 NOK Million | 36.717 B USD 3Q/19
Household Spending 1.8 % Feb/20
Households Debt To GDP 104 % 3Q/19
Households Debt To Income 202 % 2018


Housing Market

Indicator Data Period
New Home Sales  26141 Units Nov/19


Government Debt
dept_icon
510.625
USD Billion
#12 from 65 countries
Balance of Trade
balance_icon
1.727
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
60.014
USD Billion
#31 from 114 countries


Government Budget Value
balance_icon
0.603
USD Billion
#10 from 113 countries
Inflation Rate
inflation_icon
0.9
%
#106 from 174 countries


Interest Rate
discount_rate_icon
0.25
%
#121 from 159 countries
Bank Lending Rate
credit_rate_icon
N/A%
#N/A from N/A countries


Unemployment Rate
unemployment_icon
3.8
%
#129 from 171 countries
Wages
salary_icon
4333.909
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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