Norway: Economy

Economic Trivia

Norway is the world's third-largest natural gas exporter; and seventh largest oil exporter.

Trade Source: United Nations Comtrade
Note: Top 3 trade partners are calculated by imports + exports.

Top 3 Trade Partners (2015): Germany, United Kingdom, and Sweden
Top 3 Exported Goods (2015): Oil & Mineral Fuels, Seafood, and Industrial Machinery

Top Industries Source: CIA World Factbook

Petroleum and Gas; Food Processing; Shipbuilding; Pulp and Paper Products

Gross Domestic Product (GDP) Source: The World Bank

GDP, PPP (current international) $319,401,440,789 (2015)
GDP Growth Rate (annual %) 1.598% (2015)
GDP Per Capita, PPP (current international) $61,472 (2015)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 50/193 (2015)

Economic Indicators Source: The World Bank

Inflation, consumer prices (annual %) 2.174% (2015)
External debt stocks, total (DOD, current US$) Data unavailable
Total tax rate (% of commercial profits) 39.5% (2015)
Real Interest Rate (5 year average %) 10.006% (2009)
Manufacturing, value added (% of GDP) 8.27% (2015)
Current Account Balance (BoP, current US$) $34,099,714,393 (2015)
Click on a row to display its 5-year graph on the right.

Labor and Employment Source: The World Bank

Labor Force, Total 2,726,992 (2014)
Employment in Agriculture (% of total employment) 2.1% (2014)
Employment in Industry (% of total employment) 20.5% (2014)
Employment in Services (% of total employment) 77% (2014)
Unemployment Rate 3.4% (2014)
Click on a row to display its 5-year graph on the right.
Imports of goods and services (current US$) $122,190,058,903 (2015)
Exports of goods and services (current US$) $143,887,775,137 (2015)
Total Merchandise Trade (% of GDP) 46.633% (2014)
FDI, net inflows (BoP, current US$) ($5,982,163,362) (2015)
Commercial Service Exports (current US$) $49,515,746,720 (2014)
Click on a row to display its 5-year graph on the right.

How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Norway’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.

Due to unavailable data the following indicators have been omitted:
  • Exports
  • FDI, net inflows
  • GDP Growth Rate
  • GDP Per Capita
  • Inflation
  • Unemployment

Glossary