Norway GDP Data & Country Report

Norway Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Norway; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION

Central bank

Central Bank of Norway

International Reserves

US$ 45.820 billion (Source: IMF; Data updated: November 2011)

Gross Domestic Product - GDP

US$ 478.964 billion (2010 estimate)

GDP (Purchasing Power Parity)

265.864 billion of International dollars (2010 estimate)

Real GDP growth

2000	2001	2002	2003	2004	2005	2006	2007
3.3%	2%	1.5%	1%	3.9%	2.7%	2.3%	2.7%
2008	2009	2010	2011*
0.8%	-1.4%	0.4%	2.9%

*Estimate

GDP per capita - current prices

US$ 96,811 (2009 estimate)

GDP per capita - PPP

$53,738 International Dollars (2009 estimate)

GDP (PPP) - share of world total

1980	1990	2000	2010	2015**
0.45%	0.43%	0.42%	0.35%	0.31%

**Forecast

GDP - composition by sector

agriculture: 2.1%
industry: 39.5%
services: 58.3% (2009 estimate)

(Data released on November 2010)

Gross domestic expenditure on R&D (% of GDP)

1.62% (2008)

(Data released on November 2010)

Inflation

2008	2009	2010	2011*
3.8%(2008)	2.2%	2.4%	1.8%

*Estimate

Unemployment rate

2008	2009	2010	2011*
2.6%	3.2%	3.6%(2009)	3.6%

*Estimate

Household saving rates

6.9% (Net saving; 2011 forecast)

(Data released on November 2010)

Public debt (General government gross debt as a % of GDP)

2007	2008	2009	2010	2011*
58.6%	56.7%	54.3%	54.3%	54.3%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)

2007	2008	2009	2010*	2011**
17.7%	19.3%	9.9%	11.1%	11.3%

*Estimate **Forecast

Government bond ratings

Standard & Poor's: AAA/Stable/A-1+

Moody's rating: Aaa

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Nov 2010)

Market value of publicly traded shares

2007	2008	2009
US$357.42 billion	US$125.92 billion	US$227.233 billion

Largest companies in Norway

Statoil (Oil & Gas Operations), DnB NOR (Investment Services), Telenor (Telecommunications services), Yara International (Specialized Chemicals), Norsk Hydro (Aluminum)
(2011)

DATA ON TRADE AND COMPETITIVENESS

Current account balance

US$ 78 billion (2010 estimate)(After 2008)

Current account balance by percentage of GDP

16.3% of GDP (2010 estimate)(2009)

Exports as percent of GDP

(Exports of goods and services)

48.2% (2008)

(Data released on December 2010)

Shares in world total merchandising export

0.86%(2007)

(Data were released in Nov 2011 and refer to 2010)

Shares in world total commercial services export

1.09%(2007)

(Data were released in Nov 2011 and refer to 2010)

Total exports

US$137 billion f.o.b. (2010 estimate)

Export commodities

petroleum and petroleum products, machinery and equipment, metals, chemicals, ships, fish

Total imports

US$93.21 billion f.o.b. (2008 estimate)

Import commodities

machinery and equipment, chemicals, metals, foodstuffs

Exports - major partners

UK 26.3%, Germany 12.3%, Netherlands 10.2%, France 8%, Sweden 6.5%, US 6.2% (2007)

Imports - major partners

Sweden 14.7%, Germany 13.6%, UK 6.9%, Denmark 6.4%, China 6.1%, US 4.8%, Canada 4.3% (2007)

FDI inflows

2008	2009	2010
US$10,781 million	US$14,074 million(2009)	US$11,857 million(2009)

FDI outflows

2008	2009	2010
US$25,990 million	US$28,623 million	US$12,195 million

Value of cross-border M&A, by country of purchaser

2008	2009	2010	2011
US$6,102 million	US$611 million(2009)	US$-4,084 million(2009)	US$3,016 million

Cross-border M&A deals worth over $3 billion completed in 2008

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

StatoilHydro ASA, Chesapeake Energy Corp., United States, $3.4 billion

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 – 183. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 8 out of 183 countries(2009) (2010)

Subcategories:

Starting a business: 33 out of 183 countries(2009)

Registering property: 8 out of 183 countries

Paying Taxes: 18 out of 183 countries

Getting credit: 46 out of 183 countries

Protecting investors: 20 out of 183 countries

Trading across border: 9 out of 183 countries

Enforcing Contracts: 4 out of 183 countries

(2010)

Global competitiveness ranking
(ranking by country on a basis of 142, the first is the best)

(2011/2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 30 Score: 70.3 (Mostly Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW

Time zone

UTC+1

Total area

323,802 km² (2006)

Capital

Oslo (2009)

Currency

Norwegian kroner (NOK) (2009)

Government type

constitutional monarchy (2009)

Languages

Bokmal Norwegian (official), Nynorsk Norwegian (official), small Sami- and Finnish-speaking minorities; note - Sami is official in six municipalities

Religions

Church of Norway 85.7%, Pentecostal 1%, Roman Catholic 1%, other Christian 2.4%, Muslim 1.8%, other 8.1% (2004)

Total population

1980	1990	2000	2010*	2015**
4.09 million	4.25 million	4.5 million	4.89 million	5.09 million

*Estimate **Forecast

Urban population as % of total population

1960	1980	2000	2009
49.9%	70.5%	76.1%	77.5%

Population median age

38.0 years (2006)

Population growth rate

1.2% (2009)

Life expectancy

80 years (2007)

Adult literacy

N/A

% of population living on less than $2 a day

N/A

Inequality of wealth distribution (Gini index)

25.8 (2000)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:1
Civil Liberties:1 (2010)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

147.99% (2010)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population

93.39% (Data were released in 2011 and refer to 2010)

Cost of living index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Oslo: 15th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

10.488 (2008)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST FOREIGN EXCHANGE BANKS

2010:

COUNTRY WINNERS DnB NOR (National, 2010)

2009:

COUNTRY WINNERS DnB NOR (National, 2009)

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2011:

COUNTRY WINNERS DnB NOR (National, 2011)

2010:

COUNTRY WINNERS DnB NOR (National, 2010)

2009:

COUNTRY WINNERS DnB NOR (National, 2009)

WORLD'S BEST DEVELOPED MARKET BANKS

2011:

DnB Nor (National, 2011)

2010:

DnB Nor (National, 2010)

2009:

DnB Nor (Europe, 2009)

WORLD'S BEST INTERNET BANKS

2010:

COUNTRY WINNERS / Best Corporate/Institutional Internet Banks Citi (National, 2010)

2009:

REGIONAL SUB-CATEGORY WINNERS / Best consumer Internet Banks/Best Bill Payment & Presentment DnB NorBank ASA (Europe, 2009)
COUNTRY WINNERS / Best Consumer Internet Banks DnB Nor Bank ASA (National, 2009)
COUNTRY WINNERS / Best Corporate/Institutional Internet Banks Citi (2009)

WORLD'S SAFEST BANKS

2009:

OVERALL SAFEST DnB NOR Bank (Global, 2009)

WORLD'S BEST SUB CUSTODIANS

2011:

COUNTRY WINNERS Nordea (National, 2011)

2010:

COUNTRY WINNERS Nordea (National, 2010)

2009:

COUNTRY WINNERS SEB (2009)

WORLD'S BEST INVESTMENT BANKS

2011:

Best Debt Bank DnB NOR (Nordic, 2011)

CENTRAL BANKER REPORT CARD

2011:

Grade: Too early to say (Øystein Olsen, 2011)

2010:

Grade: B (Svein Gjedrem, 2010)

2009:

Grade: C- (Svein Gjedrem, 2009)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2011:

COUNTRY WINNERS DnB NOR (National, 2011)
COUNTRY WINNERS SEB (National, 2011)

ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE

Norway GDP Data & Country Report | Global Finance

WORLD'S BEST FOREIGN EXCHANGE BANKS

2010:

2009:

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2011:

2010:

2009:

WORLD'S BEST DEVELOPED MARKET BANKS

2011:

2010:

2009:

WORLD'S BEST INTERNET BANKS

2010:

2009:

WORLD'S SAFEST BANKS

2009:

WORLD'S BEST SUB CUSTODIANS

2011:

2010:

2009:

WORLD'S BEST INVESTMENT BANKS

2011:

CENTRAL BANKER REPORT CARD

2011:

2010:

2009:

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2011: