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Indicators of economy in Norway

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.922 US Dollar per capita. In contrast, the GDP in Norway reached 67.294 US dollars per inhabitant, or 362.01 bn US Dollar in the whole country. Norway is therefore currently ranked 32 of the major economies. If this is calculated per inhabitant taking into account the purchasing power parity, then Norway is in the list of the world's richest countries in place 8.

Inflation in Norway was in 2020 at around 1.29%. For the the EU, the average of the same was year at 0.51%.

Compared to Germany, the prices of daily necessities are approximately 24.90% higher.
The Corruption Perceptions Index for the public sector counts 84 and is compared to other countries good.


Back to overview: Norway

Unemployment rates in percent 1991 - 2020

Economic performance 2020

 Norway
Total
Norway
per capita
EU
Total
EU
per capita
GDP362.01 bn USD67,294.48 USD15,192.65 tn USD29,499.72 USD
Gross national product420.97 bn USD78,254.37 USD16,042.23 tn USD31,149.36 USD


Norway ranked 15th in the Bloomberg Innovation Index in 2021. The index is calculated annually and most recently included 60 countries. The front-runner was South Korea. 8 of the 2000 largest listed companies in the world originate from Norway. This is determined annually in the "Forbes Global 2000" list. The 8 largest companies in the country were in 2020:

Rank 165: Equinor (Stavanger)
Rank 333: DNB (Oslo)
Rank 691: Telenor (Fornebu)
Rank 972: Yara International (Oslo)
Rank 1228: Storebrand (Lysaker)
Rank 1459: Norsk Hydro (Oslo)
Rank 1822: Mowi ASA (Bergen)
Rank 1965: Orkla (Oslo)

Development of the Gross domestic product in billion US Dollar 1979 - 2020


Household debt and deficits 2015


 Norway
Total
Norway
per capita
EU
Total
EU
per capita
Gross debt114.61 bn USD21,305.63 USD14,618.72 tn USD28,385.31 USD
Budget deficit-22.26 bn USD-4,138.26 USD148.52 bn USD288.39 USD

Please note: A negative budget deficit equivalents to a surplus


Im- and Exports 2019

 Norway
Total
Norway
per capita
EU
Total
EU
per capita
Imports141.31 bn USD26,268.01 USD8,073.39 bn USD15,676.19 USD
Exports148.44 bn USD27,593.58 USD8,622.21 bn USD16,741.84 USD


Development of imports and exports in billion US dollars 1979 - 2019

Exports
Imports



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