BEST BANKS 2014: EUROPE
The region battled continuing recession or, at best, slow growth, a tightening regulatory environment and country-specific banking taxes or fines for past misdemeanors.
Norway
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Gross Domestic Product - GDP
US$ 501.582 billion (2011 estimate)
GDP (Purchasing Power Parity)
274.177 billion of International dollars (2011 estimate)
Real GDP growth
| 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 |
| 2% | 1.5% | 1% | 3.9% | 2.7% | 2.3% | 2.7% | 0% |
| 2009 | 2010 | 2011 | 2012* | ||||
| -1.7% | 0.7% | 1.7% | 1.8% |
*Estimate
GDP per capita - current prices
US$ 99,665 (2011 estimate)
GDP per capita - PPP
$54,479 International Dollars (2011 estimate)
GDP (PPP) - share of world total
| 1980 | 1990 | 2000 | 2010 | 2015** |
| 0.45% | 0.43% | 0.42% | 0.34% | 0.31% |
**Forecast
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GDP - composition by sector
(Data released on February 2012)
- agriculture: 2.7%
- industry: 38.3%
- services: 59% (2011 estimate)
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Gross domestic expenditure on R&D; (% of GDP)
1.69% (2010)
(Data released on March 2012)
Inflation
| 2009 | 2010 | 2011 | 2012* |
| 2.2%(2008) | 2.4% | 1.3% | 1.5% |
*Estimate
Unemployment rate
| 2009 | 2010 | 2011 | 2012* |
| 3.2% | 3.6% | 3.3%(2009) | 3.6% |
*Estimate
Household saving rates
8.5% (Net saving; 2012 forecast)
(Data released on December 2011)
Public debt (General government gross debt as a % of GDP)
| 2008 | 2009 | 2010 | 2011 | 2012* |
| 54.3% | 48.9% | 49.6% | 49.6% | 49.6% |
*Estimate
Public deficit (General government net lending/borrowing as a % of GDP)
| 2008 | 2009 | 2010 | 2011* | 2012** |
| 18.8% | 10.6% | 10.5% | 13.1% | 14.2% |
*Estimate **Forecast
Government bond ratings
Standard & Poor's: AAA
Moody's rating: Aaa
Moody's outlook: STA
(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)
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Market value of publicly traded shares
| 2009 | 2010 | 2011 |
| US$227.2 billion | US$250.9 billion | US$219.2 billion |
Largest companies in Norway
Norsk Hydro (Aluminum), Orkla (Conglomerates), Aker Solutions (Construction Service), Storebrand (Diversified Insurance), Gjensidige Forsikring (Diversified Insurance), Statoil (Oil & Gas Operations), DNB (Regional Banks), Yara International (Specialized Chemicals), Telenor (Telecommunications Services) (2012)
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Current account balance
US$ 74.3 billion (2011 estimate)(After 2008)
Current account balance by percentage of GDP
14.8% of GDP (2011 estimate)(2009)
Exports as percent of GDP(Exports of goods and services)
41.1% (2010)
(Data released on April 2012)
Source
Shares in world total merchandising export
0.87%(2007)
(Data were released in 2012 and refer to 2011)
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Shares in world total commercial services export
1% (2011)(2007)
(Data were released in 2012)
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Export commodities
petroleum and petroleum products, machinery and equipment, metals, chemicals, ships, fish
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Import commodities
machinery and equipment, chemicals, metals, foodstuffs
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Exports - major partners
UK 27.2%, Netherlands 11.6%, Germany 11.1%, France 7.2%, Sweden 6.5%, US 5.6% (2011)
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Imports - major partners
Sweden 13.4%, Germany 12%, China 9%, Denmark 6.3%, UK 5.6%, US 5.4%, Netherlands 4.2% (2011)
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FDI inflows
| 2009 | 2010 | 2011 | |
| US$13,403 million | US$17,519 million(2009) | US$3,569 million(2009) |
FDI outflows
| 2009 | 2010 | 2011 | |
| US$34,400 million | US$23,086 million | US$19,999 million |
Value of cross-border M&A;, by country of purchaser
| 2008 | 2009 | 2010 | 2011 |
| US$6,102 million | US$611 million(2009) | US$-3,940 million(2009) | US$1,415 million |
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
(for a monthly update on M&A; click here )
Cross-border M&A; deals worth over $3 billion completed in 2011(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)
Norsk Hydro ASA, Vale SA, Brazil, $4.9 billion(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 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)
Overall ranking: 6 out of 185 countries(2009) (2013)
Subcategories:
Starting a business: 43 out of 185 countries(2009)
Enforcing Contracts: 4 out of 185 countries
Registering Property: 7 out of 185 countries
Getting credit: 70 out of 185 countries
Protecting investors: 25 out of 185 countries
Trading across border: 21 out of 185 countries
Paying Taxes: 19 out of 185 countries
Dealing with Construction Permits: 23 out of 185 countries
Getting Electricity: 14 out of 185 countries
Resolving Insolvency: 3 out of 185 countries
(2013)
Source
Global competitiveness ranking(ranking by country on a basis of 144, the first is the best)
15
(2012)
Source
Index of Economic FreedomWSJ and Heritage Foundation
Ranking: 40 Score: 68.8 (Moderately Free) (2009)
(100=totally free 0=totally repressed )
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Currency
Norwegian kroner (NOK) (2009)
Languages
Bokmal Norwegian (official), Nynorsk Norwegian (official), small Sami- and Finnish-speaking minorities; note - Sami is official in six municipalities
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Religions
Church of Norway 85.7%, Pentecostal 1%, Roman Catholic 1%, other Christian 2.4%, Muslim 1.8%, other 8.1% (2004)
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Total population
| 1980 | 1990 | 2000 | 2012* | 2017** |
| 4.09 million | 4.25 million | 4.5 million | 5.03 million | 5.32 million |
*Estimate **Forecast
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2011 |
| 49.9% | 70.5% | 76.1% | 79.4% |
Inequality of wealth distribution (Gini index)
25.79 (2000)
(Data were released in 2011, 0=perfect equality, 100=absolute inequality)
Freedom House rating
Political Rights:1
Civil Liberties:1 (2011)
(1 represents the most free, 7 the least free)
Source
Total telephone subscribers as % of population
159.46% (2011)
(sum of fixed telephone lines and mobile cellular subscribers)
Internet users as % of total population
93.97% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer 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)
Source
CO2 emissions(Metric tons of CO2 per capita)
9.7387 (Data were released in 2012 and refer to 2009)
