Economic Trivia

Privately owned firms account for vast majority of industrial output, of which the engineering sector accounts for about 50% of output and exports.

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

Top 3 Trade Partners (2016): Germany, Norway, and Denmark
Top 3 Exported Goods (2016): Industrial Machinery, Motor Vehicles & Parts, and Electrical Machinery

Top Industries Source: CIA World Factbook

Iron and Steel; Precision Equipment (Bearings, Radio and Telephone Parts, Armaments); Wood Pulp and Paper Products; Processed Foods

Gross Domestic Product (GDP) [1]

GDP, PPP (current international) $485,284,049,908 (2016)
GDP Growth Rate (annual %) 3.235% (2016)
GDP Per Capita, PPP (current international) $48,905 (2016)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 40/195 (2016)

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 %) 0.984% (2016)
External debt stocks, total (DOD, current US$) Data unavailable
Total tax rate (% of commercial profits) 49.1% (2017)
Real Interest Rate (5 year average %) 2.49% (2005)
Manufacturing, value added (% of GDP) 15.282% (2016)
Current Account Balance (BoP, current US$) $22,621,780,746 (2016)
Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

Labor Force, Total 5,276,256 (2017)
Employment in Agriculture (% of total employment) 1.866% (2017)
Employment in Industry (% of total employment) 18.138% (2017)
Employment in Services (% of total employment) 79.995% (2017)
Unemployment Rate 6.755% (2017)
Click on a row to display its 5-year graph on the right.

Trade [1]

Imports of goods and services (current US$) $202,874,175,498 (2016)
Exports of goods and services (current US$) $227,768,032,944 (2016)
Total Merchandise Trade (% of GDP) 54.486% (2016)
FDI, net inflows (BoP, current US$) $9,012,500,287 (2016)
Commercial Service Exports (current US$) $71,417,047,665 (2016)
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, Sweden’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


  1. The World Bank