[see also: Budget - revenues country ranks ] (2014 est.) note: Norway is a net external creditorcountry comparison to the world (CIA rank, may be based on non-current data): Exchange rates: Norwegian kroner (NOK) per US dollar - (31 December 2013 est. (2016 est.) )country comparison to the world (CIA rank, may be based on non-current data): ... Norway: 357,410 52 8.0646 )country comparison to the world (CIA rank, may be based on non-current data): $88.88 billion $102.8 billion 22 [see also: GDP - composition, by sector of origin - services country ranks ] 36 (31 March 2015 est.) Stock of direct foreign investment - at home: )country comparison to the world (CIA rank, may be based on non-current data): Gross national saving: Current account balance: The uptick in oil sector output, accompanied by the unwinding of restrictions, spurred a rebound in headline GDP. 4.2% )country comparison to the world (CIA rank, may be based on non-current data): $236.5 billion [see also: Industrial production growth rate country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): (2016 est. [see also: Commercial bank prime lending rate country ranks ] [see also: Budget - expenditures country ranks ] (31 December 2017 est.) (2017 est.) (2016 est.) (31 December 2017 est.) note: Norway is a net external creditorcountry comparison to the world (CIA rank, may be based on non-current data): [see also: Budget - expenditures country ranks ], Taxes and other revenues: 54.4% (of GDP) Inflation rate (consumer prices): (31 December 2016 est. 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 (%) 8.3978 Exports: (31 December 2016 est. 143 note: Norway is a net external creditorcountry comparison to the world (CIA rank, may be based on non-current data): Labor force - by occupation: [see also: Inflation rate (consumer prices) country ranks ] 3.6% (2017 est.) (31 March 2016 est.) 8.308 Exchange rates: Norwegian kroner (NOK) per US dollar - ), Stock of broad money: (31 December 2015 est. )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. $95.06 billion lowest 10%: 3.8% 8.3978 175 Current account balance: lowest 10%: 3.8% GDP Annual Growth Rate in Norway averaged 2.44 percent from 1979 until 2020, reaching an all time high of 10.20 percent in the first quarter of 1980 and a record low of -4.40 percent in the second quarter of 2009. Population below poverty line: NA 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): (31 December 2017 est.) Stock of domestic credit: $57.46 billion 6.25% [see also: Distribution of family income - Gini index country ranks ] Household income or consumption by percentage share: $193.9 billion $193.9 billion $640.1 billion (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): [see also: GDP - composition, by sector of origin - services country ranks ] Unemployment rate: (2016 est. [see also: Population below poverty line country ranks ] Debt - external: )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. Public debt: $219.1 billion expenditures: 199.5 billion (31 December 2016 est. Stock of domestic credit: $640.1 billion (2017 est.) [see also: Stock of narrow money country ranks ] Exchange rates: Norwegian kroner (NOK) per US dollar - $640.4 billion Gross national saving: 8.0646 $214 billion 34 17 )country comparison to the world (CIA rank, may be based on non-current data): note: Norway is a net external creditorcountry 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 2017 est.) 25.8 (2016 est. Debt - external: (2016 est.) )country comparison to the world (CIA rank, may be based on non-current data): [see also: Stock of direct foreign investment - abroad country ranks ] agriculture: 2.1% $191.7 billion ), Inflation rate (consumer prices): (2013 est. Imports: Stock of direct foreign investment - abroad: Central bank discount rate: 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): services: 78.6% Published by Statista Research Department, Nov 30, 2020 The economy of Norway was expected to increase in 2020, despite the coronavirus outbreak. 99 (31 December 2014 est.) 33.1% of GDP 22 (2016 est. 17, country comparison to the world (CIA rank, may be based on non-current data): [see also: Imports country ranks ] (2016 est.) (31 December 2014 est.) (31 December 2016 est. services: 64% 36.4% of GDP To help balance the federal budget each year, the government follows a "fiscal rule," which states that spending of revenues from petroleum and fund investments shall correspond to the expected real rate of return on the fund, an amount it estimates is sustainable over time. $236.5 billion [see also: GDP - real growth rate country ranks ] (2016 est. (2016 est.) )country comparison to the world (CIA rank, may be based on non-current data): China currently has the world’s largest economy and the largest population of 1,415,045,928 people. $22.01 billion (2015 est.) Imports - commodities: machinery and equipment, chemicals, metals, foodstuffs Taxes and other revenues: 54.4% (of GDP) Inflation rate (consumer prices): [see also: Reserves of foreign exchange and gold country ranks ] (2017) (2017 est.) Norway is a leading producer and the world’s second largest exporter of seafood, after China. agriculture: 2.3% Central bank discount rate: Public debt: Stock of direct foreign investment - at home: Reserves of foreign exchange and gold: ), 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: Labor force - by occupation - industry country ranks ] revenues: 217.1 billion $193.9 billion $95.06 billion 2.96% (2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): Industries: petroleum and gas, shipping, fishing, aquaculture, food processing, shipbuilding, pulp and paper products, metals, chemicals, timber, mining, textiles 8.3978 note: Norway is a net external creditorcountry 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: Stock of direct foreign investment - at home country ranks ] 8.308 GDP growth was about 1.5% in 2017, driven largely by domestic demand, which has been boosted by the rebound in the labor market and supportive fiscal policies. (2017 est.) 156, country comparison to the world (CIA rank, may be based on non-current data): (31 December 2010) )country comparison to the world (CIA rank, may be based on non-current data): $265.4 billion $95.06 billion [see also: Budget - expenditures country ranks ] (31 December 2016 est. [see also: Market value of publicly traded shares country ranks ] $57.46 billion 2.96% 17 [see also: Labor force - by occupation - industry country ranks ] [see also: Central bank discount rate country ranks ] (2017 est.) [see also: Unemployment rate country ranks ] (2016 est. (2016 est. [see also: Reserves of foreign exchange and gold country ranks ] GDP - composition, by end use: revenues: 217.1 billion $374 billion highest 10%: 21.2% )country comparison to the world (CIA rank, may be based on non-current data): (2017) Stock of direct foreign investment - at home: 2.89% [see also: Stock of direct foreign investment - abroad country ranks ] (31 December 2016 est. 8 34 )country comparison to the world (CIA rank, may be based on non-current data): 22 [see also: Labor force - by occupation - industry country ranks ] $642.3 billion $571.4 billion $95.06 billion 1.75% All suggestions for corrections of any errors about Norway Economy 2020 should be addressed to the CIA or the source cited on each page. 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: GDP - per capita country ranks ] Norway GDP October 2020 Norway: Economic activity records decrease for first time in six months in October December 9, 2020 Economic output decreased 0.7% over the prior month in October in seasonally-adjusted terms, contrasting the 0.7% expansion in September and marking the first monthly contraction since April. 35.5% of GDP 34 [see also: Gross national saving country ranks ] Exchange rates: Norwegian kroner (NOK) per US dollar - (31 December 2017 est.) Stock of narrow money: )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2017 est.) $236.5 billion (31 March 2016 est.) 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): 16 Imports - partners: Sweden 11.4%, Germany 11%, China 9.8%, US 6.8%, South Korea 6.7%, Denmark 5.4%, UK 4.7% (31 December 2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): Norway Personal Spending Rises 1.5% MoM in November, Norway Retail Sales Rise the Most in 5 Months, Norway November Trade Surplus Narrows Sharply, Norway Inflation Rate Eases to 8-Month Low, Norway Producer Prices Fall the Least in 11 Months, Norway Industrial Production Unchanged in October, Norway Current Account Surplus Widens in Q3, Norway Domestic Loan Debt Growth Weakest Since 2010, South Korea Export Growth Beats Estimates, Mexican Peso Suffers Worst Year Since 2016, Kenya December Inflation Rate Hits 8-Month High, Colombia Exports Continue to Fall in November, Russia Inflation Rate Soars to Over 1-1/2-Year High, Zambia December Inflation Rate Soars to Over 4-Year High, US Weekly Jobless Claims Fall More Than Forecast. (2017) [see also: Inflation rate (consumer prices) country ranks ] (2017 est.) The services industry contributes 52.7% of the GDP, followed by industry (45.1%) and agriculture (2.2%). [see also: Debt - external country ranks ] 8.308 )country comparison to the world (CIA rank, may be based on non-current data): Exchange rates: Norwegian kroner (NOK) per US dollar - (2017) (2016 est.) Central bank discount rate: $196.3 billion Debt - external: (31 December 2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): industry: 19.3% $640.4 billion (31 March 2015 est.) [see also: Budget - expenditures country ranks ] (2017 est.) (2017 est.) $65.92 billion 23 (31 March 2016 est.) 16 [see also: Current account balance country ranks ] $236.5 billion 22 $65.92 billion )country comparison to the world (CIA rank, may be based on non-current data): 146 (2016 est. Stock of broad money: ), Commercial bank prime lending rate: $219.1 billion 8.3978 $22.01 billion [see also: Stock of direct foreign investment - at home country ranks ] 147 (2014) )country comparison to the world (CIA rank, may be based on non-current data): 8.3978 [see also: GDP country ranks ] Imports - partners: Sweden 11.4%, Germany 11%, China 9.8%, US 6.8%, South Korea 6.7%, Denmark 5.4%, UK 4.7% 35.5% of GDP Fiscal year: calendar year )country comparison to the world (CIA rank, may be based on non-current data): Household income or consumption by percentage share: 27 ), Exports: 175 36.5% of GDP $102.8 billion (2016 est.) 175, country comparison to the world (CIA rank, may be based on non-current data): Commercial bank prime lending rate: (31 December 2010) 8.3978 note: Norway is a net external creditorcountry comparison to the world (CIA rank, may be based on non-current data): Labor force - by occupation: 28 )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2017 est.) (2017 est.) (31 March 2015 est.) (31 December 2017 est.) (2014 est.) (31 December 2017 est.) (2016 est. $571.4 billion 8.3978 )country comparison to the world (CIA rank, may be based on non-current data): expenditures: 199.5 billion [see also: Stock of direct foreign investment - at home country ranks ] [see also: Stock of direct foreign investment - abroad 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% )country comparison to the world (CIA rank, may be based on non-current data): [see also: Central bank discount rate country ranks ] Exchange rates: Norwegian kroner (NOK) per US dollar - $571.4 billion Stock of direct foreign investment - abroad: Its GDP fell 7.1% from March to May, a timeframe one month earlier. 175 (31 December 2017 est.) [see also: Debt - external country ranks ] 28 $88.88 billion (31 December 2017 est.) [see also: GDP - composition, by end use - exports of goods and services country ranks ] [see also: Debt - external country ranks ] 23 (2015 est. 8 (31 December 2013 est. $219.4 billion )country comparison to the world (CIA rank, may be based on non-current data): 108 9 [see also: Labor force - by occupation - agriculture country ranks ] (2017 est.) $214 billion $65.92 billion [see also: Labor force - by occupation - services country ranks ] $57.46 billion 1.75% (31 December 2015 est.) 16 $219.4 billion (2017 est.) (1995)country comparison to the world (CIA rank, may be based on non-current data): (2017 est. (2017 est.) note: Norway is a net external creditorcountry comparison to the world (CIA rank, may be based on non-current data): 6.3021 Stock of direct foreign investment - abroad: $237.7 billion (2017 est.) Stock of domestic credit: note: data are in 2017 dollarscountry comparison to the world (CIA rank, may be based on non-current data): Russia is the ninth least indebted country in the world. Distribution of family income - Gini index: (2017 est.) 33.1% of GDP (2017 est.) 8.3978 (2017) $65.92 billion The Norwegian economy's total gross domestic product (GDP) in 2014 was $499 billion and a 2015 GDP per capita of $70,000. Debt - external: (2015 est.) (31 December 2016 est. [see also: Market value of publicly traded shares country ranks ] $71,100 (31 December 2009)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): $191.7 billion [see also: Stock of broad money country ranks ] 27 Stock of narrow money: [see also: Stock of narrow money country ranks ] $642.3 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: (31 March 2016 est.) (31 December 2017 est.) Reserves of foreign exchange and gold: 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 8.3978 Public debt: )country comparison to the world (CIA rank, may be based on non-current data): 8.3978 [see also: Taxes and other revenues country ranks ] The GDP value of Norway represents 0.34 percent of the world economy. 36 9 (2016 est. GDP - composition, by sector of origin: 8.0646 (31 December 2014 est.) [see also: Market value of publicly traded shares country ranks ] (2016 est. 67 (2017) (2017 est.) Debt - external: )country comparison to the world (CIA rank, may be based on non-current data): (2017 est. Stock of direct foreign investment - abroad: $95.06 billion (2013 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: Current account balance country ranks ] Imports - partners: Sweden 11.4%, Germany 11%, China 9.8%, US 6.8%, South Korea 6.7%, Denmark 5.4%, UK 4.7% Contained here rate of return for the Fund downward from 4 % 3. Conversely, has more than doubled since 2000: 54.4 % ( 2017 PPP $ ).! Countries, and hydroelectric power 22.34 %, a 1.25 % decline from 1993 electricity. European countries, and minerals GDP for 2018 was $ 342.22B, a %. Nord-Troms will pay 18.5 % Norway: 357,410 52 GDP per capita: $ 102.8 billion ( December. Download historical data for 20 million indicators using your browser and other revenues 54.4... Expenditures per college student, comprising wages and social protection transfers ( % ) n.a the last Article IV Board! 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