Nordics: In Tech We Trust
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Norway GDP and Economic Data
Country Report 2017 - Includes Norway real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Norway economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Norway best banks and safest banks are also available.
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International Reserves
USD 57.5 billion (2015)
International Monetary Fund (IMF), data retrieved January 2017
Gross Domestic Product - GDP
USD 392.7 billion (2017, estimate)
GDP (Purchasing Power Parity)
Intl$ 377.0 billion (2017, estimate)
Real GDP growth
| 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 |
| 2.4% | 2.9% | 0.4% | -1.6% | 0.6% | 1% | 2.8% |
| 2013 | 2014 | 2015 | 2016* | 2017* | ||
| 1% | 2.2% | 1.6% | 0.8% | 1.2% |
*Estimate
GDP per capita - current prices
USD 73,590.9 (2017, estimate)
GDP (PPP) - share of world total
| 1980 | 1990 | 2000 | 2010 | 2017* |
| 0.48% | 0.44% | 0.43% | 0.34% | 0.3% |
*Estimate
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GDP - composition by sector
- agriculture: 1.8%
- industry: 34.7%
- services: 63.5%
(2016 estimate)
Gross domestic expenditure on R&D; (% of GDP)
1.7% (2014)
OECD, data retrieved January 2017
Inflation
| 2013 | 2014 | 2015 | 2016* | 2017* |
| 2.1% | 2.0% | 2.2% | 3.2% | 2.3% |
*Estimate
Unemployment rate
| 2013 | 2014 | 2015 | 2016* | 2017* |
| 3.5% | 3.5% | 4.4% | 4.7% | 4.5% |
*Estimate
Public debt (General government gross debt as a % of GDP)
| 2013 | 2014 | 2015* | 2016* | 2017* |
| 30.3% | 27.9% | 27.9% | 27.9% | 27.9% |
*Estimate
Public deficit (General government net lending/borrowing as a % of GDP)
| 2013 | 2014 | 2015* | 2016* | 2017* |
| 10.5% | 8.4% | 5.5% | 3% | 3.2% |
*Estimate
Government bond ratings
Standard & Poor's: AAA
Moody's: Aaa
Standard & Poor's / Moody's (Updated as of January 24th 2017)
Source
Market value of publicly traded shares
| 2013 | 2014 | 2015 |
| USD 265.4 billion | USD 219.4 billion | USD 193.9 billion |
Largest companies
DNB, Statoil, Telenor, Yara International, Norsk Hydro, Gjensidige Forsikring, Storebrand, Orkla.
Source
Source
Current account balance by percentage of GDP
7.6% (2017 estimate)
Exports as percent of GDP (Exports of goods and services)
37.4% (2015)
Shares in world total merchandising export
0.6% (2015)
Shares in world total commercial services export
0.8% (2015)
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
Exports - major partners
UK 22.2%, Germany 17.9%, Netherlands 10.2%, France 6.6%, Sweden 6.1%, Belgium 5%, US 4.5% (2015)
Imports - major partners
Sweden 12%, Germany 11.8%, China 10.9%, UK 6.7%, US 6.6%, Denmark 6% (2015)
FDI inflows
| 2013 | 2014 | 2015 |
| USD 3,949 million | USD 7,987 million | USD -4,239 million |
FDI outflows
| 2013 | 2014 | 2015 |
| USD 7,792 million | USD 18,254 million | USD 19,426 million |
Value of cross-border M&A, by country of purchaser
| 2012 | 2013 | 2014 | 2015 |
| USD 4190.9 million | USD -81.7 million | USD 5556.7 million | USD 1001.5 million |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking: 6 out of 190 countries (2017)
Subcategories:
Starting a business: 21 out of 190 countries
Enforcing Contracts: 4 out of 190 countries
Registering Property: 14 out of 190 countries
Getting Credit: 75 out of 190 countries
Protecting Minority Investors: 9 out of 190 countries
Trading Across Borders: 22 out of 190 countries
Paying Taxes: 26 out of 190 countries
Dealing with Construction Permits: 43 out of 190 countries
Getting Electricity: 12 out of 190 countries
Resolving Insolvency: 6 out of 190 countries
Source
Global competitiveness ranking
11 out of 138 countries
(2016-2017)
Index of Economic Freedom
Ranking: 32 / Score: 70.81 (Mostly free) (2016)
(100=totally free 0=totally repressed)
Source
Source
Languages
Bokmal Norwegian (official), Nynorsk Norwegian (official), small Sami- and Finnish-speaking minorities
Note: Sami is an official language in nine municipalities
Religions
Church of Norway (Evangelical Lutheran - official) 82.1%, other Christian 3.9%, Muslim 2.3%, Roman Catholic 1.8%, other 2.4%, unspecified 7.5 (2011 est.)
Total population
| 1990 | 2000 | 2010 | 2016* | 2021* |
| 4.25 million | 4.501 million | 4.908 million | 5.263 million | 5.586 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2015 |
| 50% | 71% | 76% | 81% |
Inequality of wealth distribution (Gini index)
25.9 (2012)
(0=perfect equality, 100=absolute inequality)
Source
Freedom House rating
Political Rights: 1
Civil Liberties: 1 (2017)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed 18.37% Mobile 111.12% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)