Budget surplus (+) or deficit (-): 4.4% (of GDP) $65.92 billion $102.8 billion (2015 est. [see also: Inflation rate (consumer prices) country ranks ] $65.92 billion Budget: (2017) 8.0646 Exports: )country comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): (2017 est. )country comparison to the world (CIA rank, may be based on non-current data): (2017 est.) 25.8 )country comparison to the world (CIA rank, may be based on non-current data): 4.7% Stock of direct foreign investment - abroad: Exchange rates: Norwegian kroner (NOK) per US dollar - $191.7 billion (2017 est.) 11 Exchange rates: Norwegian kroner (NOK) per US dollar - (2017 est.) $14.09 billion $102.8 billion (2013 est. )country comparison to the world (CIA rank, may be based on non-current data): (2016 est. Central bank discount rate: (2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): [see also: Current account balance country ranks ] (2017 est. 2.89% $102.8 billion (2017) Published by Statista Research Department, Nov 30, 2020 The economy of Norway was expected to increase in 2020, despite the coronavirus outbreak. In anticipation of eventual declines in oil and gas production, Norway saves state revenue from petroleum sector activities in the world's largest sovereign wealth fund, valued at over $1 trillion at the end of 2017. 17 $14.09 billion agriculture: 2.1% 4.2% $88.88 billion (2015 est.) 67 Unemployment rate: 8.3978 Stock of direct foreign investment - at home: Labor force: 2.797 million $642.3 billion $571.4 billion )country comparison to the world (CIA rank, may be based on non-current data): 28 )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. (2016 est.) services: 64% )country comparison to the world (CIA rank, may be based on non-current data): Exports - commodities: petroleum and petroleum products, machinery and equipment, metals, chemicals, ships, fish $214 billion (31 December 2017 est.) (31 December 2016 est. Inflation rate (consumer prices): [see also: Debt - external country ranks ] $265.4 billion (2017 est.) (2017 est.) GDP grew mildly in August, slowing from July’s level as household spending lost steam—evidenced by a slowdown in retail sales during the month—and coming amid decelerating industrial production growth. (2016 est. [see also: GDP - composition, by end use - investment in inventories country ranks ] orway’s economic freedom score is 73.4, making its economy the 28th freest in the 2020 Index. Imports: $571.4 billion (2017 est.) [see also: GDP - composition, by sector of origin - industry country ranks ] Labor force - by occupation: [see also: Inflation rate (consumer prices) country ranks ] 22 8.308 )country comparison to the world (CIA rank, may be based on non-current data): 18, country comparison to the world (CIA rank, may be based on non-current data): investment in inventories: 4.8% Stock of direct foreign investment - abroad: $642.3 billion $640.1 billion 175 (2016 est. $57.46 billion 36 $219.4 billion Norway’s domestic electricity production relies almost entirely on hydropower. $640.1 billion 28 (31 December 2016 est. The services industry contributes 52.7% of the GDP, followed by industry (45.1%) and agriculture (2.2%). $642.3 billion (2015 est.) Published by H. Plecher, May 19, 2020 The statistic shows gross domestic product (GDP) in Norway from 1984 to 2018, with projections up until 2021. (2017 est.) $74.94 billion (31 December 2017 est.) Budget surplus (+) or deficit (-): 4.4% (of GDP) )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2017 est.) (2017 est.) 147 (2017 est.) Imports - partners: Sweden 11.4%, Germany 11%, China 9.8%, US 6.8%, South Korea 6.7%, Denmark 5.4%, UK 4.7% 26.8 Stock of direct foreign investment - abroad: (31 December 2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): [see also: Stock of broad money country ranks ] (31 December 2017 est.) highest 10%: 21.2% Current account balance: cutting back so-called oil spending in its 2020 budget after years of record outlays. [see also: Stock of direct foreign investment - abroad country ranks ] [see also: GDP - composition, by end use - investment in fixed capital country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): 146 2.89% According to … Stock of domestic credit: (2013 est. Stock of broad money: 16 )country comparison to the world (CIA rank, may be based on non-current data): (2016 est. Central bank discount rate: (31 December 2016 est. 36.5% of GDP 28 Imports - partners: Sweden 11.4%, Germany 11%, China 9.8%, US 6.8%, South Korea 6.7%, Denmark 5.4%, UK 4.7% Norway gdp for 2018 was $342.22B, a 0.46% decline from 2018. [see also: GDP - composition, by end use - investment in inventories country ranks ] 23 )country comparison to the world (CIA rank, may be based on non-current data): Commercial bank prime lending rate: )country comparison to the world (CIA rank, may be based on non-current data): Exports - 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% 23 Stock of broad money: [see also: Stock of domestic credit country ranks ] $571.4 billion (31 December 2017 est.) (31 December 2013 est. (31 December 2009)country comparison to the world (CIA rank, may be based on non-current data): (31 December 2017 est.) [see also: Commercial bank prime lending rate country ranks ] Labor force - by occupation: )country comparison to the world (CIA rank, may be based on non-current data): $57.46 billion (31 December 2015 est. [see also: Budget surplus (+) or deficit (-) country ranks ] [see also: Stock of direct foreign investment - at home country ranks ] $265.4 billion [see also: Stock of direct foreign investment - abroad country ranks ] 18 (2016 est.) 67 [see also: Stock of direct foreign investment - at home country ranks ] 17 17 27 Inflation rate (consumer prices): [see also: Reserves of foreign exchange and gold country ranks ] (31 December 2016 est. GDP per capita (2017 PPP $) n.a. [see also: Stock of domestic credit country ranks ] (31 March 2015 est.) [see also: Central bank discount rate country ranks ] $237.7 billion 8.3978 (2016 est. [see also: GDP - composition, by sector of origin - services country ranks ] $219.1 billion household consumption: 44.8% $237.7 billion [see also: Inflation rate (consumer prices) country ranks ] 28 175 2.89% $640.4 billion Exchange rates: Norwegian kroner (NOK) per US dollar - )country comparison to the world (CIA rank, may be based on non-current data): $571.4 billion expenditures: 199.5 billion 6.25% $193.9 billion (31 December 2015 est.) imports of goods and services: -33.2% [see also: Public debt country ranks ] 8 Exports: [see also: Stock of domestic credit country ranks ] (2016 est. (2014) (2016 est. [see also: Budget - revenues country ranks ] [see also: GDP - composition, by sector of origin - agriculture country ranks ] 36 [see also: Stock of direct foreign investment - at home country ranks ] $102.8 billion 35.5% of GDP 11 It is enjoying low unemployment and a broadly neutral budget, while its economy continues to grow. $65.92 billion )country comparison to the world (CIA rank, may be based on non-current data): [see also: GDP (official exchange rate) country ranks ], GDP - real growth rate: [see also: Market value of publicly traded shares country ranks ] [see also: Current account balance country ranks ] (2014 est.) (2017) )country comparison to the world (CIA rank, may be based on non-current data): (2013 est. $642.3 billion 23 (31 December 2017 est.) $237.7 billion [see also: Stock of direct foreign investment - at home country ranks ] (31 December 2017 est.) (31 December 2016 est. $71,200 (31 December 2017 est.) $191.7 billion Stock of direct foreign investment - abroad: 36 2.89% Taxes and other revenues: 54.4% (of GDP) investment in inventories: 4.8% [see also: Imports country ranks ] $219.1 billion The base rate (fellesskatt) of income tax in Norway is 22%. )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. 17 )country comparison to the world (CIA rank, may be based on non-current data): [see also: Budget surplus (+) or deficit (-) country ranks ] [see also: Budget - revenues country ranks ] 34, country comparison to the world (CIA rank, may be based on non-current data): [see also: Unemployment rate country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): Debt - external: Imports - partners: Sweden 11.4%, Germany 11%, China 9.8%, US 6.8%, South Korea 6.7%, Denmark 5.4%, UK 4.7% [see also: Debt - external country ranks ] $237.7 billion (2017) (31 December 2010) )country comparison to the world (CIA rank, may be based on non-current data): Exports: )country comparison to the world (CIA rank, may be based on non-current data): $640.4 billion (31 December 2010) (2014 est.) [see also: Stock of domestic credit country ranks ] 16 )country comparison to the world (CIA rank, may be based on non-current data): [see also: Imports country ranks ] [see also: Household income or consumption by percentage share - lowest 10% country ranks ] Imports - commodities: machinery and equipment, chemicals, metals, foodstuffs (2013 est. 36.4% of GDP No claims are made regarding the accuracy of Norway Economy 2020 information contained here. Imports - partners: Sweden 11.4%, Germany 11%, China 9.8%, US 6.8%, South Korea 6.7%, Denmark 5.4%, UK 4.7% 36 [see also: Exports country ranks ] 36 $14.09 billion 17 Taxes and other revenues: 54.4% (of GDP) [see also: Distribution of family income - Gini index country ranks ] Population below poverty line: NA (31 December 2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): (2016 est. )country comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): [see also: Population below poverty line country ranks ] note: Norway is a net external creditorcountry comparison to the world (CIA rank, may be based on non-current data): (31 December 2009)country comparison to the world (CIA rank, may be based on non-current data): (2016 est.) $237.7 billion [see also: Stock of direct foreign investment - at home country ranks ] 146 (31 March 2016 est.) $214 billion 9 [see also: Stock of broad money country ranks ] note: Norway is a net external creditorcountry comparison to the world (CIA rank, may be based on non-current data): [see also: Labor force country ranks ] [see also: Imports country ranks ] 4.7% $95.06 billion (31 December 2017 est.) Stock of direct foreign investment - abroad: [see also: Stock of broad money country ranks ] $74.94 billion (2017 est.) Exchange rates: Norwegian kroner (NOK) per US dollar - Agriculture - products: barley, wheat, potatoes; pork, beef, veal, milk; fish )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. 8.3978 34 $219.4 billion $214 billion 1.75% (31 December 2016 est. ), Budget: Stock of direct foreign investment - at home: (2017 est. (31 December 2017 est.) (31 March 2015 est.) The volume of Gross Domestic Product in Norway decreased to 403 USD Billion in 2019. (2016 est.) (31 December 2009)country comparison to the world (CIA rank, may be based on non-current data): $14.09 billion Stock of direct foreign investment - abroad: 8.308 (2017 est.) 25.8 (2016 est.) Agriculture - products: barley, wheat, potatoes; pork, beef, veal, milk; fish agriculture: 2.3% $265.4 billion Taxes and other revenues: 54.4% (of GDP) (31 December 2017 est.) Norway debt to gdp ratio for 1994 was 30.75%, a 0.81% decline from 1993. $236.5 billion (2017 est.) [see also: Stock of direct foreign investment - abroad country ranks ] Central bank discount rate: [see also: Budget - revenues country ranks ] (2016 est. (2017 est.) (2016 est. [see also: Population below poverty line country ranks ] [see also: Market value of publicly traded shares country ranks ] b) The CIA sometimes assigns counterintuitive ranks. 2% [see also: Public debt country ranks ] 8.308 (31 December 2016 est. [see also: Inflation rate (consumer prices) country ranks ] $214 billion (2017 est.) note: data cover general government debt and include debt instruments issued (or owned) by government entities other than the treasury; the data exclude treasury debt held by foreign entities; the data exclude debt issued by subnational entities, as well as intragovernmental debt; intragovernmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctionscountry comparison to the world (CIA rank, may be based on non-current data): (2017 est.) [see also: GDP - composition, by end use - investment in fixed capital country ranks ] (31 December 2016 est. 27 34 (2017 est. Publish your articles and forecasts in our website. (2016 est.) 22 6.3021 $196.3 billion $193.9 billion $237.7 billion (2015 est.) (2017 est.) 34 [see also: Population below poverty line country ranks ], Household income or consumption by percentage share: The petroleum sector provides about 9% of jobs, 12% of GDP, 13% of the state’s revenue, and 37% of exports, according to official national estimates. 23 34 [see also: Reserves of foreign exchange and gold country ranks ] [see also: Exports country ranks ] 67 [see also: Reserves of foreign exchange and gold country ranks ] 27 [see also: Exports country ranks ] Norway GDP (Gross Domestic Product) was INT$351.41billion for 2019 in PPP terms. (2017 est.) Commercial bank prime lending rate: Stock of domestic credit: (31 December 2015 est.) )country comparison to the world (CIA rank, may be based on non-current data): [see also: Market value of publicly traded shares country ranks ] [see also: Central bank discount rate country ranks ] [see also: Imports country ranks ] (2016 est. (31 December 2015 est. (31 December 2017 est.) 34.3% of GDP (31 December 2014 est.) Public debt: (2010) )country comparison to the world (CIA rank, may be based on non-current data): $88.88 billion 28 (31 December 2014 est.) Imports - commodities: machinery and equipment, chemicals, metals, foodstuffs Commercial bank prime lending rate: $22.01 billion Reserves of foreign exchange and gold: (31 December 2017 est.) 27 $219.1 billion Stock of direct foreign investment - abroad: )country comparison to the world (CIA rank, may be based on non-current data): $236.5 billion government consumption: 24% (31 December 2017 est.) 23 agriculture: 2.3% [see also: Central bank discount rate country ranks ] (2015 est.) (2016 est. (2016 est. (2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): (2017 est.) (31 December 2016 est. note: data cover general government debt and include debt instruments issued (or owned) by government entities other than the treasury; the data exclude treasury debt held by foreign entities; the data exclude debt issued by subnational entities, as well as intragovernmental debt; intragovernmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctionscountry comparison to the world (CIA rank, may be based on non-current data): 8.3978 $191.7 billion 8.0646 Imports - partners: Sweden 11.4%, Germany 11%, China 9.8%, US 6.8%, South Korea 6.7%, Denmark 5.4%, UK 4.7% 34 $236.5 billion 22 2.96% $95.06 billion (2016 est. (31 December 2016 est. 8 (31 March 2015 est.) Industries: petroleum and gas, shipping, fishing, aquaculture, food processing, shipbuilding, pulp and paper products, metals, chemicals, timber, mining, textiles All suggestions for corrections of any errors about Norway Economy 2020 should be addressed to the CIA or the source cited on each page. 2.89% (2017 est.) [see also: Current account balance country ranks ] $14.09 billion (31 December 2017 est.) [see also: Taxes and other revenues country ranks ] Exports - 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% 18 36.4% of GDP Fiscal year: calendar year (31 March 2015 est.) (2017 est.) Market value of publicly traded shares: 8.308 Norway is a high income nation with a vibrant private sector and a substantial safety net. $14.09 billion [see also: Budget surplus (+) or deficit (-) country ranks ] 34 [see also: Current account balance country ranks ] Although sensitive to global business cycles, the economy of Norway has shown robust growth since the start of the industrial era. (31 December 2017 est.) Budget: [see also: Exports country ranks ] (31 March 2015 est.) Current account balance: [see also: Household income or consumption by percentage share - lowest 10% country ranks ] (2016 est. 156 (31 December 2016 est. [see also: Exports country ranks ] (31 December 2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): (2017 est.) (2017 est.) 8.3978 Stock of direct foreign investment - abroad: 56 Reserves of foreign exchange and gold: (2017) 36.4% of GDP (2014 est.) )country comparison to the world (CIA rank, may be based on non-current data): 27, country comparison to the world (CIA rank, may be based on non-current data): (2016 est.) [see also: Stock of direct foreign investment - abroad country ranks ] GDP - composition, by sector of origin: )country comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): 99 Household income or consumption by percentage share: $65.92 billion (31 December 2016 est. $642.3 billion [see also: Current account balance country ranks ] (1995)country comparison to the world (CIA rank, may be based on non-current data): 27 Stock of domestic credit: (2016 est. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order. $214 billion Exchange rates: Norwegian kroner (NOK) per US dollar - (31 December 2017 est.) $640.1 billion Exports: (2017) (31 December 2017 est.) $74.94 billion Norway debt to gdp ratio for 1991 was 18.59%, a 1.25% decline from 1990. $237.7 billion (31 December 2010) Norway is one of the world's leading petroleum exporters, although oil production is close to 50% below its peak in 2000. )country comparison to the world (CIA rank, may be based on non-current data): (2015 est.) [see also: Commercial bank prime lending rate country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): (2016 est.) agriculture: 2.3% (2016 est. )country comparison to the world (CIA rank, may be based on non-current data): [see also: Current account balance country ranks ] [see also: Debt - external country ranks ] [see also: Debt - external country ranks ] [see also: Distribution of family income - Gini index country ranks ] Exchange rates: Norwegian kroner (NOK) per US dollar - $57.46 billion $193.9 billion 23 Budget surplus (+) or deficit (-): 4.4% (of GDP) [see also: Budget - expenditures country ranks ] (31 December 2015 est. [see also: Stock of narrow money country ranks ] (31 December 2016 est. (31 December 2017 est.) (31 December 2016 est. 36 )country comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): 22 36 Imports - commodities: machinery and equipment, chemicals, metals, foodstuffs (31 December 2016 est. The latest comprehensive information for - Norway GDP - including latest news, historical data table, charts and more. )country comparison to the world (CIA rank, may be based on non-current data): Imports: Fiscal year: calendar year Stock of direct foreign investment - at home: (2015 est.) $65.92 billion $74.94 billion (2017 est.) $193.9 billion (2017 est.) (2016 est.) 8.0646 (2016 est. Public debt: (2017 est.) (2017 est.) $265.4 billion Reserves of foreign exchange and gold: 1.9% [see also: Industrial production growth rate country ranks ] ), Population below poverty line: NA (2017 est.) 4.7% Household income or consumption by percentage share: )country comparison to the world (CIA rank, may be based on non-current data): Exports - commodities: petroleum and petroleum products, machinery and equipment, metals, chemicals, ships, fish )country comparison to the world (CIA rank, may be based on non-current data): Exports - 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% [see also: Taxes and other revenues country ranks ] $214 billion (2017 est.) [see also: GDP - composition, by end use - investment in inventories country ranks ] $237.7 billion (31 December 2014 est.) $237.7 billion (31 December 2016 est. 34 (31 December 2009)country comparison to the world (CIA rank, may be based on non-current data): (1995)country comparison to the world (CIA rank, may be based on non-current data): 36.5% of GDP Imports - commodities: machinery and equipment, chemicals, metals, foodstuffs (2017 est.) 2.96% (2017 est.) 36 (31 December 2017 est.) (2017 est.) 27 (31 March 2016 est.) $57.46 billion (2016 est.) (2016 est. )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2014 est.) Public debt: 33.1% of GDP (2014) 28 (2017 est.) Budget surplus (+) or deficit (-): 4.4% (of GDP) [see also: Imports country ranks ] $214 billion (2016 est. (31 December 2017 est.) $219.4 billion 34 22 8.3978 36 8.3978 (31 December 2017 est.) Economic Indicators for Norway including actual values, historical data, and latest data updates for the Norway economy. )country comparison to the world (CIA rank, may be based on non-current data): (2017 est.) Gross domestic product (GDP), total (2017 PPP $ billions) n.a. 25.8 [see also: Exports country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): 8.308 (31 December 2016 est. (31 December 2013 est. (2014 est.) (2016 est. NOTE: 1) The information regarding Norway on this page is re-published from the 2020 World Fact Book of the United States Central Intelligence Agency and other sources. (31 December 2016 est. (31 December 2016 est. [see also: Stock of direct foreign investment - abroad country ranks ] (2017 est. investment in inventories: 4.8% $193.9 billion Exports - commodities: petroleum and petroleum products, machinery and equipment, metals, chemicals, ships, fish $196.3 billion Industries: petroleum and gas, shipping, fishing, aquaculture, food processing, shipbuilding, pulp and paper products, metals, chemicals, timber, mining, textiles 8.3978 [see also: Debt - external country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2015 est.) Stock of direct foreign investment - at home: Stock of domestic credit: 17 ), Exports: Stock of direct foreign investment - at home: 56 (31 December 2016 est. )country comparison to the world (CIA rank, may be based on non-current data): $236.5 billion (2017 est. (31 December 2017 est.) [see also: Stock of narrow money country ranks ] note: data are in 2017 dollarscountry comparison to the world (CIA rank, may be based on non-current data): GDP - composition, by sector of origin: $237.7 billion [see also: Reserves of foreign exchange and gold country ranks ] ), GDP (official exchange rate): $398.8 billion $265.4 billion $265.4 billion , especially compared to its neighbors 642.3 billion ( 31 December 2014 est. energy. Few years its 2020 Budget after years of record outlays step tax, to allow for progressive taxation domestic! In Finnmark or Nord-Troms will pay 18.5 % the CIA or the source cited on each.... Be addressed to the CIA or the source cited on each page especially compared its... Is expected to remain constant or improve slightly in the world ’ petroleum! Economy | October 30th 2020 Oslo imposes greater coronavirus controls has performed over... 30.75 %, a timeframe one month earlier billion ( 2017 est. purchasing power parity ): %. 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