Source
Central bank

Central Bank of Norway

International Reserves

USD 63.1 billion (2018)

International Monetary Fund (IMF), data retrieved October 2019

Gross Domestic Product - GDP

USD 434.9 billion (2018, estimate)

GDP (Purchasing Power Parity)

Intl$ 395.9 billion (2018, estimate)

Real GDP growth
2007 2008 2009 2010 2011 2012 2013
3% 0.5% -1.7% -0.7% 1 2.7% 1%
2014 2015 2016 2017* 2018*    
2% 2% 1.2% 2% 1.4%    

*Estimate

GDP per capita - current prices

USD 81,694.6 (2018, estimate)

GDP per capita - PPP

Intl$ 74,356.1 (2018, estimate)

GDP (PPP) - share of world total
1980 1990 2000 2010 2019*
0.48% 0.44% 0.43% 0.34% 0.29%

*Estimate

 
 
Source
GDP - composition by sector
  • agriculture: 1.8% 
  • industry: 31.4% 
  • services: 55.6%

(2018 estimate)

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

2.1% (2017)

OECD, data retrieved October 2019

Inflation
2015 2016 2017 2018* 2019*
2.2% 3.6% 1.9% 2.8% 2.3%

*Estimate

Unemployment rate
2015 2016 2017* 2018* 2019*
4.5% 4.7% 4.2% 3.9% 3.6%

*Estimate

Household saving rates

6.5% (Total, 2018)

 

Public debt (General government gross debt as a % of GDP)
2015 2016 2017* 2018* 2019*
32.9% 36.4% 36.9% 40% 40%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2015 2016 2017 2018* 2019*
6.1% 4% 4.9% 7.3% 7.6%

*Estimate

Government bond ratings

Standard & Poor's: AAA

Moody's: Aaa

Standard & Poor's / Moody's 

Market value of publicly traded shares
2016 2017 2018
USD 231.3 billion USD 287.2 billion USD 267.4 billion
Largest companies

Equinor, DNB, Telenor, Norsk Hydro, Yara International, Storebrand, Mowi ASA, Gjensidige Forsikring

 
 
Source
Current account balance

USD 35.0 billion (2018 estimate)

Current account balance by percentage of GDP

8.1 % (2018 estimate)

Exports as percent of GDP (Exports of goods and services)

38.1% (2018)

Shares in world total merchandising export

0.63% (2018)

Shares in world total commercial services export

0.74% (2018)

Total exports

USD 165.2 billion (2018)

Export commodities

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

Total imports

USD 141.0 billion (2018 estimate)

 
 
Source
Import commodities

Machinery and equipment, chemicals, metals, foodstuffs

Exports - major partners

UK 21.1%, Germany 15.5%, Netherlands 9.9%, Sweden 6.6%, France 6.4%, Belgium 4.8%, Denmark 4.7%, US 4.6% (2017)

Imports - major partners

Sweden 11.4%, Germany 11%, China 9.8%, US 6.8%, South Korea 6.7%, Denmark 5.4%, UK 4.7% (2017)

FDI inflows
2016 2017 2018
USD -4,667 million USD 4,495 million USD -18,215 million
FDI outflows
2016 2017 2018
USD 2,656 million USD -2,277 million USD 908 million
Value of cross-border M&A, by country of purchaser
2015 2016 2017 2018
USD 1,132 million USD 5,017 million USD 1,194 million USD 119 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:

9 out of 190 countries

​Subcategories:
Starting a Business: 25 out of 190 countries
Dealing with Construction Permits: 22 out of 190 countries
Getting Electricity: 44 out of 190 countries
Registering Property: 15 out of 190 countries
Getting Credit: 94 out of 190 countries
Protecting Minority Investors: 21 out of 190 countries
Paying Taxes: 34 out of 190 countries
Trading across Borders: 22 out of 190 countries
Enforcing Contracts: 3 out of 190 countries
Resolving Insolvency: 5 out of 190 countries

Global competitiveness ranking

17 out of 141 countries

(2019)

Index of Economic Freedom

Ranking: 26 / Score: 73 (Mostly free)

(100=totally free 0=totally repressed)

 
 
Source
Time zone

UTC+1

Total area

323,802 sq km

Capital

Oslo 

Currency

Norwegian kroner (NOK) 

Government type

Parliamentary constitutional monarchy

Languages

Bokmal Norwegian (official), Nynorsk Norwegian (official), small Sami- and Finnish-speaking minorities

Religions

Church of Norway (Evangelical Lutheran - official) 70.6%, Muslim 3.2%, Roman Catholic 3%, other Christian 3.7%, other 2.5%, unspecified 17% (2016 est.)

Total population
1990 2000 2010 2015 2020*
4.25 million 4.5 million 4.91 million 5.21 million 5.39 million

*Estimate

 
 
Source
Urban population as % of total population
1960 1980 2000 2018
49.9% 70.5% 76% 82.2%
Population median age

39.3 years (2018 estimate)

Population growth rate

0.94% (2018 estimate)

Life expectancy

82 years (2018 estimate)

Literacy

N/A

% of population living on less than $3.10 a day

0.2% (last available estimate, 2015)

Inequality of wealth distribution (Gini index)

27.5 (last available estimate, 2015)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Free
Political Rights: 1
Civil Liberties: 1 (2019)
(1 represents the most free, 7 the least free rating)

Source
Total telephone subscribers as % of population

Fixed: 10.6% Mobile: 107.2% (2018)

(fixed-telephone subscribers and mobile-cellular subscribers)

Internet users as % of total population

96.49 % (2018)

Mercer Cost of living index

Oslo: 61st (2019)

CO2 emissions

9.27 metric tons per capita (2014)

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