Norway Economic Statistics and Indicators

23, Jan 2021, EST. Welcome to the Norway economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: Norway › Change country
National or Regional Currency: Norwegian Krone, NOK
Year of data: 2015 › Change year
Number of Indicators Listed: 42
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 5,147,792 (July 2014 est.)
Area: total: 323,802 sq km ; land: 304,282 sq km ; water: 19,520 sq km
Natural Resources: petroleum, natural gas, iron ore, copper, lead, zinc, titanium, pyrites, nickel, fish, timber, hydropower
Capital: name: Oslo ; geographic coordinates: 59 55 N, 10 45 E ; time difference: UTC+1 (6 hours ahead of Washington, DC, during Standard Time) ; daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October

The Norwegian economy is a prosperous mixed economy, with a vibrant private sector, a large state sector, and an extensive social safety net. The government controls key areas, such as the vital petroleum sector, through extensive regulation and large-scale state-majority-owned enterprises. The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on the petroleum sector, which accounts for the largest portion of export revenue and about 30% of government revenue. Norway is the world's third-largest natural gas exporter; and seventh largest oil exporter, making one of its largest offshore oil finds in 2011. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget. In anticipation of eventual declines in oil and gas production, Norway saves state revenue from the petroleum sector in the world's largest sovereign wealth fund, valued at over $830 billion in January 2014 and uses the fund's return to help finance public expenses. After solid GDP growth in 2004-07, the economy slowed in 2008, and contracted in 2009, before returning to positive growth in 2010-13. Nevertheless, the government budget remains in surplus.
More on the Norway Economy
More on the Norway Export, Import and Trade

GDP (Constant Prices, National Currency) for Norway in year 2015 is NOK 3,188.29 Billion.

GDP Growth (Constant Prices, National Currency) for Norway in year 2015 is 1.565 %.

GDP (Current Prices, National Currency) for Norway in year 2015 is NOK 3,140.84 Billion.

GDP (Current Prices, US Dollars) for Norway in year 2015 is US$ 389.482 Billion.

GDP Deflator for Norway in year 2015 is 98.512 (Index, Base Year as per country's accounts = 100).

GDP Per Capita (Constant Prices, National Currency) for Norway in year 2015 is NOK 612,492.06 .

GDP Per Capita (Current Prices, National Currency) for Norway in year 2015 is NOK 603,377.93 .

GDP Per Capita (Current Prices, US Dollars) for Norway in year 2015 is US$ 74,822.11 .

Output Gap, Percent of Potential GDP for Norway in year 2015 is -0.7 %.

GDP (PPP), US Dollars for Norway in year 2015 is US$ 356.209 Billion.

GDP Per Capita (PPP), US Dollars for Norway in year 2015 is US$ 68,430.18 .

GDP Share of World Total (PPP) for Norway in year 2015 is 0.314 %.

Implied PPP Conversion Rate for Norway in year 2015 is 8.817 .

Investment (% of GDP) for Norway in year 2015 is 28.566 %.

Gross National Savings (% of GDP) for Norway in year 2015 is 37.562 %.

Inflation, Average Consumer Prices (Indexed to Year 2000) for Norway in year 2015 is 108.615 (Index, Base Year 2000 = 100).

Inflation (Average Consumer Price Change %) for Norway in year 2015 is 2.174 %.

Inflation, End of Year (Indexed to Year 2000) for Norway in year 2015 is 108.206 (Index, Base Year 2000 = 100).

Inflation (End of Year Change %) for Norway in year 2015 is 2.321 %.

Import Volume of All Items Including Goods and Services (Percent Change) for Norway in year 2015 is 0.563 %.

Import Volumes of Goods Only (Percent Change) for Norway in year 2015 is 0.843 %.

Export Volume of All Items Including Goods and Services (Percent Change) for Norway in year 2015 is 2.334 %.

Export Volumes of Goods Only (Percent Change) for Norway in year 2015 is 2.252 %.

Unemployment Rate (% of Labour Force) for Norway in year 2015 is 4.374 %.

Employment for Norway in year 2015 is 2.651 Million .

Population for Norway in year 2015 is 5.205 Million .

General government revenue (National Currency) for Norway in year 2015 is NOK 1,667.55 Billions.

General government revenue (% of GDP) for Norway in year 2015 is 53.092 %.

General government total expenditure (National Currency) for Norway in year 2015 is NOK 1,496.69 Billions.

General government total expenditure (% of GDP) for Norway in year 2015 is 47.652 %.

Total Government Net Lending/ Borrowing (National Currency) for Norway in year 2015 is NOK 170.857 Billions.

Total Government Net Lending/ Borrowing (% of GDP) for Norway in year 2015 is 5.44 %.

General Government Structural Balance (National Currency) for Norway in year 2015 is NOK -165.919 Billion.

General Government Structural Balance (% Potential GDP) for Norway in year 2015 is -6.695 %.

Fiscal Year Gross Domestic Product, Current Prices for Norway in year 2015 is NOK 3,140.84 Billions.

Current Account Balance (US Dollars) for Norway in year 2015 is US$ 35.038 Billion.

Current Account Balance (% GDP) for Norway in year 2015 is 8.996 %.