Norway GDP

Norway country overview

Before we start to discuss Norway GDP first we discuss Norway’s country overview, so Norway is officially called the Kingdom of Norway.

This country is located in Nothern Europe. Oslo is the capital and largest city of Norway. Its official language is Norwegian. In ethnic groups, 82% Norwegian and 18% non-Norwegian living in Norway.

In religion, 75% Christianity, 20% non-religion, and other religions exist in Norway. In the government system, Norway’s government system is the Unitary parliamentary constitutional monarchy.

Its monarch’s name is Harald v. Norway’s prime minister’s name is Jonas Gahr Store. Norway’s total land area is 385,207 km2. Its area rank is 61st in the world.

Its total population is 5,402,200 in the year 2021. Its population rank is 118th in the world. Its population density is 14 / km2. Its population density rank is 213th in the world.

Norway Economy

Norway’s economy is generally called the developed and advanced economy with also a high-income economy. The inflation rate in Norway is 2.5% in the year 2020. 16% of its population lives below the poverty line.

Its HDI rate is 0.967 which is considered the very high HDI rate in the world. Its HDI rank is 1st in the world. The unemployment rate in Norway is 5.2% in the year 2020.

Norway’s foreign reserves are $66 billion in the year 2017. Its gross external debt is $642 billion in the year 2016.

Norway GDP

Its total GDP is $366 billion (nominal) and $350 billion (PPP) in the year 2020. Its GDP rank is 33rd (nominal) and 49th (PPP) in the year 2020.

Its GDP growth rate is 3% in the year 2021. Its GDP per capita is $68,000 (nominal) and $65,000 (PPP) in the year 2020. Its GDP per capita rank is 4th (nominal) and 6th (PPP) in the year 2020.

When we talk about its GDP by sector, so agriculture was 1.7%, industry 35%, and services are 63% in the year 2016.

Norway Exports

Norway’s total exports are $102 billion in the year 2017. Its main export goods are petroleum, machinery, chemicals, fish, and others. Its main export partners are the United Kingdom, Germany, France, Denmark, the United States, and others.

Norway Imports

Its total imports are $95 billion in the year 2017. Its main import goods are machinery, metals, food products, and others. Its main import partners are Sweden, China, the United States, the United Kingdom, and others.

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