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 (2018): United Kingdom, Germany, and Sweden
Top 3 Exported Goods (2018): Oil & Mineral Fuels, Seafood, and Items nesoi

Top Industries Source: CIA World Factbook

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

Gross Domestic Product (GDP) [1]

GDP, PPP (current international) $359,298,961,716 (2018)
GDP Growth Rate (annual %) 1.29% (2018)
GDP Per Capita, PPP (current international) $67,640 (2018)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 50/196 (2018)

GDP Composition %

Note: GDP composition percentage may exceed 100. Manufacturing is included in the Industry figures and is also reported separately because it plays a critical role in many economies.

Economic Indicators [1]

Inflation, consumer prices (annual %) 2.168% (2019)
External debt stocks, total (DOD, current US$) Data unavailable
Total tax rate (% of commercial profits) 36.2% (2019)
Real Interest Rate (5 year average %) 10.006% (2009)
Manufacturing, value added (% of GDP) 5.899% (2018)
Current Account Balance (BoP, current US$) $31,138,430,372 (2018)
Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

Labor Force, Total 2,820,775 (2019)
Employment in Agriculture (% of total employment) 2.055% (2019)
Employment in Industry (% of total employment) 19.275% (2019)
Employment in Services (% of total employment) 78.67% (2019)
Unemployment Rate 3.346% (2019)
Click on a row to display its 5-year graph on the right.

Trade [1]

Imports of goods and services (current US$) $141,679,557,332 (2018)
Exports of goods and services (current US$) $166,900,830,003 (2018)
Total Merchandise Trade (% of GDP) 47.998% (2018)
FDI, net inflows (BoP, current US$) $1,794,791,083 (2019)
Commercial Service Exports (current US$) $44,402,121,061 (2018)
Click on a row to display its 5-year graph on the right.

Economic Snapshot [1]

Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.

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

Sources

  1. The World Bank