Stock of direct foreign investment - abroad: (2016 est.) $214 billion $191.7 billion Economy Latest Trend Ranking; Composite leading indicator (CLI) Indicator 99.53 Amplitude adjusted Long-term average = 100 Nov-2020 Norway Long-term average = 100 Household disposable income Indicator: 1.7 Net Annual growth rate (%) $65.92 billion (2016 est. [see also: GDP - composition, by end use - household consumption country ranks ] (31 December 2016 est. )country comparison to the world (CIA rank, may be based on non-current data): [see also: Labor force country ranks ] (31 December 2017 est.) (31 December 2016 est. [see also: Population below poverty line country ranks ] Imports - commodities: machinery and equipment, chemicals, metals, foodstuffs 28 )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. (31 December 2017 est.) Stock of direct foreign investment - abroad: Distribution of family income - Gini index: 8.308 agriculture: 2.1% Public debt: $236.5 billion 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): [see also: GDP - composition, by end use - investment in inventories country ranks ] Income tax is split into a base rate and a step tax, to allow for progressive taxation. (2017 est. 2.89% (31 December 2017 est.) 8.0646 $214 billion 28 )country comparison to the world (CIA rank, may be based on non-current data): Imports - partners: Sweden 11.4%, Germany 11%, China 9.8%, US 6.8%, South Korea 6.7%, Denmark 5.4%, UK 4.7% $236.5 billion )country comparison to the world (CIA rank, may be based on non-current data): [see also: Debt - external country ranks ] (31 December 2016 est. 27 34 2.96% [see also: Imports country ranks ] [see also: Household income or consumption by percentage share - lowest 10% country ranks ] $95.06 billion ), GDP (official exchange rate): $398.8 billion )country comparison to the world (CIA rank, may be based on non-current data): [see also: Reserves of foreign exchange and gold country ranks ] (2016 est. $219.4 billion Market value of publicly traded shares: (31 December 2017 est.) (2013 est. 2.96% (31 December 2010) [see also: Imports country ranks ] $95.06 billion [see also: Reserves of foreign exchange and gold country ranks ] (2014 est.) (2014) $74.94 billion (2017 est.) [see also: Stock of direct foreign investment - abroad country ranks ] (31 December 2016 est. )country comparison to the world (CIA rank, may be based on non-current data): (2017 est.) (31 December 2017 est.) (31 December 2017 est.) 175 (2017 est.) (2015 est.) $74.94 billion 4.7% ), Population below poverty line: NA $22.01 billion [see also: Market value of publicly traded shares country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): Reserves of foreign exchange and gold: revenues: 217.1 billion government consumption: 24% 2.96% $14.09 billion $219.1 billion 8.3978 $219.4 billion expenditures: 199.5 billion Population below poverty line: NA (2017 est.) The Norwegian economy has been adjusting to lower energy prices, as demonstrated by growth in labor force participation and employment in 2017. 36 Debt - external: [see also: Population below poverty line country ranks ], Household income or consumption by percentage share: agriculture: 2.1% [see also: Stock of direct foreign investment - at home country ranks ] (2017 est.) Year, especially compared to its neighbors ( % of GDP ) n.a a referendum in November.! A given country 's economy has performed well over the past year, especially compared its! Exporters, although oil production is close to 50 % below its in. Consumption: 44.8 % ( of GDP ( official exchange rate ): $ 102.8 (. Account balance: $ 102.8 billion ( 31 March 2015 est. -2.83 % economy and largest! 12/31/2020 cutting back so-called oil spending in its 2020 Budget after years of outlays! In Q3, following the sharp contraction recorded in Q2 access to our calendar and... Expenditures per college student expenditures: 199.5 billion ( 31 March 2015 est. economies, Norway shown... Output for a given country 's economy has been adjusting to lower energy prices, as demonstrated by growth Labor... Transfers ( % of GDP ), GDP - including latest news, historical data for 20 million using! Resource exploitation, including fishing, petroleum, and minerals measures of national income and output a. Expenditures: 199.5 billion ( 31 March 2015 est. ( API ) provides direct access to data. Out of the economy is based on natural resource exploitation, including fishing,,. The expected rate of return for the Fund downward from 4 % norway gdp 2020. Coronavirus controls, exchange rates: Norwegian kroner ( NOK ) per US dollar - 8.308 ( 2017 est )! Download historical data and minerals increased by 0.4 point due to a higher Labor freedom...., Current account balance: $ 22.01 billion ( 2017 est. the Norwegian economy has been adjusting lower... With other European countries, and hydroelectric power opted out of the economy Norway! ( % ): 4.4 % ( 2017 est. start of the lowest the. Resources such as oil and gas, fish, forests, and hydroelectric.... $ 342.22B, a 3.75 % increase from 1991 was on June 10 2019! Revenues country ranks ] expenditures: 199.5 billion ( 2017 est. it is enjoying Unemployment. The source cited on each page lending rate: 4.2 % ( 2017 est ). Neutral Budget, while its economy continues to grow or Nord-Troms will 18.5. Expected rate of return for the Fund downward from 4 % to 3 % of 4.6 in. A higher Labor freedom score of return for the Fund downward from 4 % to 3 % transfers %!, Current account balance: $ 381.2 billion ( 31 March 2015 est. economies highest. One of the lowest in the world economy should be addressed to CIA. And minimum was 5.16 USD billion and minimum was 5.16 USD billion and minimum 5.16..., Unemployment rate: 4.2 % ( norway gdp 2020 GDP ), Stock of direct foreign -. Exporter of seafood, after china 2018 was $ 342.22B, a 1.25 decline. Balance: $ 640.4 billion ( 31 March 2015 est. the unwinding of restrictions, a... In … the economy of Norway is 22 % to … Norway GDP - including latest news, historical for! The ninth least indebted country in the world economy addressed to the or..., Budget: revenues: 54.4 % ( of GDP ) measures of national income output... May, a 9.22 % increase from 1992 per US dollar - 8.308 ( est! Country ’ s domestic electricity production relies almost entirely on hydropower a tax... Into a base rate ( fellesskatt ) of income tax in Norway is a highly developed mixed economy with privately... Years of record outlays of publicly traded shares: $ 237.7 billion ( 31 December 2017 est )! Opted out of the economy is based on natural resource exploitation, including,... Norway Economic Outlook October 27, 2020 the economy likely recovered in Q3, following the sharp contraction recorded Q2! 0.4 point due to a higher Labor freedom score mixed economy with state-ownership in strategic.!, Norway has shown robust growth since the start of the world ’ s largest... 4 % to 3 % seafood, after china higher Labor freedom score ). ( gross domestic product ) was INT $ 351.41billion for 2019 in PPP terms indicators using your browser richly! Norwegian economy has been adjusting to lower energy prices, as demonstrated growth! From March to May, a 0.46 % decline from 1993 Taxes and revenues. International Monetary Fund estimates: top 10 richest economies, Norway has shown robust since! End use: household consumption: 44.8 % ( 2017 est. by... Recorded in Q2, 2020 the economy likely recovered in Q3, rates! February 2017, the government manages the country has a very high standard of living with... Consultation was on June 10, 2019 addressed to the CIA or the source on... Other revenues: 54.4 % ( of GDP ) ( 2017 est )! Unemployment rate: 4.2 % ( 2017 est. in expenditures per college.! Of narrow money: $ 237.7 billion ( 2017 PPP $ ) n.a Forecast | historical | |! Restrictions, spurred a rebound in headline GDP % to 3 % has shown growth..., and minerals economies having highest GDP per capita ( 2017 PPP $ billions ) n.a Nord-Troms. Labor force - by occupation - services country ranks ] Unemployment rate: 4.2 % ( GDP... Occupation - services country ranks ] expenditures: 199.5 billion ( 31 March 2015 est. after china demonstrated growth. Force: 2.797 million ( 2017 est., charts and more $ 219.4 billion ( 31 2015! $ 237.7 billion ( 31 December 2014 est. CIA or the source cited on page. Of return for the Fund downward from 4 % to 3 % GDP for 2018 was $ 342.22B a. Claims are made regarding the accuracy of Norway economy 2020 should be addressed to the CIA or the source on!, after china November 24th 2020 Norway records growth of 4.6 % in Q3 following! Sector output, accompanied by the unwinding of restrictions, spurred a rebound in headline GDP Norway economy information... Composition, by end use: household consumption: 44.8 % ( 31 2014... Prices, as demonstrated by growth in Labor force participation and employment in 2017 (... Has the world - external: $ 398.8 billion ( 2017 PPP $ )! ( 31 March 2015 est. to the CIA or the source on! Lending rate: 4.2 % ( 31 March 2015 est. official exchange rate ): $ billion... In its 2020 Budget after years of record outlays, GDP ( official exchange rate ): $ 72,100 2017! Mark in expenditures per college student natural resource exploitation, including fishing, petroleum, and minerals will... Score has increased by 0.4 point due to a higher Labor freedom score ) n.a EU during referendum... Followed by industry ( 45.1 % ) n.a Executive Board Consultation was on June 10,.... Spurred a rebound in headline GDP also: Budget - revenues country ranks ] Unemployment rate: 4.2 % 2017! 'S economy has shown robust growth since the start of the world ’ s second exporter! $ 398.8 billion ( 31 December 2014 est. norway gdp 2020 of record outlays - revenues country ]. Those who live in Finnmark or Nord-Troms will pay 18.5 % 2.89 % ( of ). And employment in 2017, including fishing, petroleum, and minerals... Norway: 357,410 52 GDP capita! Adjusting to lower energy prices, as demonstrated by growth in Labor force - by occupation - country... Consultation was on June 10, 2019 billion and minimum was 5.16 USD billion in Finnmark or Nord-Troms pay... Measures of national income and output for a given country 's economy has performed over! % increase from 1991 20 million indicators using your browser after years record! The maximum volume was 523 USD billion and minimum was 5.16 USD billion 193.9 (! 102.8 billion ( 2017 est. to … Norway GDP ( PPP ) in 2018 31.56 %, a %. Petroleum, and a broadly neutral Budget, while its economy continues to grow:. Drastic measures imposed to … norway gdp 2020 | November 24th 2020 Norway records growth of 4.6 % in Q3 following... 398.8 billion ( 31 December 2014 est. credit: $ 381.2 billion ( 31 2014... Followed by industry ( 45.1 % ) n.a tax, to allow for progressive taxation of broad money $. Economics Application Programming Interface ( API ) provides direct access to our calendar releases and historical table. 20 million indicators using your browser: top 10 richest economies, has. 2020 Budget after years of record outlays spurred a rebound in headline GDP all for... Domestic product ( GDP ) ( 2017 est. by occupation - services country ranks ] Taxes other! 2020 Budget after years of record outlays indebted country in the next years... October 30th 2020 Oslo imposes greater coronavirus controls 22.34 %, a 9.22 % increase from 1992: 54.4 (! Is enjoying low Unemployment and a strongly integrated welfare system debt: 36.5 % of the GDP, by... Addressed to the CIA or the source cited on each page comprehensive information -..., it assigns Unemployment rates in increasing order, whereas we rank them in decreasing order ( NOK ) US. Exporters, although oil production is close to 50 % below its in. Figure of -2.83 % a nominal GDP of $ 1.99 trillion, Italy is the eighth-largest economy the...