The oil and gas sector constitutes around 18% of Norwegian GDP and 62% of Norwegian exports in 2018. Labour share of GDP, comprising wages and social protection transfers (%) n.a. NOTE: The information regarding Military expenditures - percent of GDP on this page is re-published from the CIA World Factbook 2020. 3) Norway is economically free in most aspects especially business freedom and trade freedom. 4) Norway may have many natural resource that contribute to the high GDP per capita. Brazil is ranked 8 with a GDP PPP of $3.5 trillion. GDP as a U.S. dollar has in the United States. During the last 20 years Norway's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨15th to the 34th⁩ position in the ECI rank. $3,300 (2014 est.) These economic complexity rankings use 6 digit exports classified according to the HS96 classification. Coefficient of human inequality: n.a. Statistics and historical data on GDP growth rate, per capita PPP, constant prices. On a nominal basis, the US is ahead of China by $5.59 trillion in 2020 compared to $6.70 trillion in 2019. United States (1,9) is present in both list of top ten GDP and GDP per capita ranking at nominal terms. Structure of Norway GDP: from agriculture, manufacturing, mining and … License: CC BY-4.0 Line Bar Map. 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. GDP > Per $ GDP: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. Norway's economic and trade relations with the EU are mainly governed by the agreement on the European Economic Area (EEA). The economy of Norway is a highly developed mixed economy with state-ownership in strategic areas. The US and China's margin is coming down in nominal ranking as China's gdp growth rate of 2020 (1.85%) is much higher than the US's -4.27%. The Gross Domestic Product (GDP) in Norway contracted 0.20 percent in the third quarter of 2020 over the same quarter of the previous year. Norway gdp growth rate for 2019 was 1.15%, a 0.13% decline from 2018. Figures in italics are for 2018 or 2017, ranking is approximate. Gross domestic product ranking table. Canada is ranked 19 with a GDP per capita of $46,213. GDP per capita (2017 PPP $) n.a. Over the past 58 years, the value for this indicator has fluctuated between $102,914 in 2013 and $1,442 in 1960. Norway gdp per capita for 2018 was $81,734, a 8.26% increase from 2017. Norway's budget balance in relation to GDP 2025. Download Historical Data Save as Image. Norway GDP and Economic Data. The charts below list all the 192 countries as per their GDP per capita rank. France had a GDP of $2.72 trillion in 2019, ranking seventh in the world. ... (GDP) in Norway 2025. World GDP Per Capita Ranking – Developed countries Italy is ranked 28 with a GDP per capita of $32,947. Switzerland and Ireland have now exceeded Norway’s GDP level, with 61 and 83 per cent above EU28 respectively. Label. Norway GDP Value was 403 USD Billion in 2020. Income index: n.a. GDP---GINI---Pop.---Norway’s landscape is dominated by mountains, islands and fjords. No claims are made regarding the accuracy of Norway Economy 2020 information contained here. $2,800 (2013 est.) The table below lists countries in the world ranked by GDP at Purchasing Power Parity (PPP) per capita, along with the Nominal GDP per capita. Brazil is ranked 77 with a GDP per capita of $8,797. Gross domestic product (GDP), total (2017 PPP $ billions) n.a. The state ranks high on the global peace index, making it one of the most peaceful countries in the world. October 27, 2020. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. Norway gdp growth rate for 2018 was 1.29%, a 1.03% decline from 2017. 192 countries from around the world are ranked by GDP measured in US dollars and PPPs from 1980 to 2019. Although oil production is historically low, it rose in … Norway gdp per capita for 2019 was $75,420, a 7.73% decline from 2018. Inequality-adjusted HDI (IHDI) n.a. None; Aggregates; Same region; Similar values; Highest values; Lowest values; Share Details. Although sensitive to global business cycles, the economy of Norway has shown robust growth since the start of the industrial era.The country has a very high standard of living compared with other European countries, and a strongly integrated welfare system. Indonesia is ranked 7 with a GDP PPP of $3.7 trillion. Norway gdp growth rate for 2017 was 2.32%, a 1.25% increase from 2016. PPP figures are extrapolated from 2017 benchmark estimates by the International Comparison Program (ICP), unless otherwise footnoted. Year to year changes in the nominal level of output or income of an economy are affected by a combination of forces: real growth, price inflation, and exchange rates. The statistic shows the growth in real GDP in Norway from between 2015 to 2018, with projections up until 2025. Norway ranked 8th out of 37 OECD countries in terms of the tax-to-GDP ratio in 2019. 1960 - 2019. In 2018, Norway was ranked 9th out of the 37 OECD countries in terms of the tax-to-GDP ratio. [see also: GDP country ranks] GDP (official exchange rate): $398.8 billion (2017 est.) On a ppp basis, China has overtaken the US in 2016 and ahead by Int. France is ranked 22 with a GDP per capita of $41,761. France is ranked 10 with a GDP PPP of $3.1 trillion. Country Report 2017 - Includes Norway real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector. Norway is Western Europe's most important source of natural gas. Stat South Korea Rank; Exports of goods and services, % of GDP 44%: 63: Imports of goods and services, % of GDP 39%: 108: Current account balance (balance of payments) $76.4B Norway Economic Outlook. 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. Download Historical Data Save as Image. Norway gdp per capita for 2016 was $70,459, a 5.24% decline from 2015. Norway is one of the world's leading petroleum exporters, although oil production is close to 50% below its peak in 2000. [see also: GDP - real growth rate country ranks] GDP - per capita: $2,900 (2015 est.) In 2016, the result for Norway was considerably lower, at 48 per cent above EU28. Gross Domestic Product, or GDP, measures the economy size of a country. No claims are made regarding the accuracy of Military expenditures - percent of GDP information contained here. The economy likely recovered in Q3, following the sharp contraction recorded in Q2. World Bank national accounts data, and OECD National Accounts data files. In 2019, Norway had a tax-to-GDP ratio of 39.9% compared with the OECD average of 33.8%. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. Norway gdp per capita for 2017 was $75,497, a 7.15% increase from 2016. Russia is ranked 6 with a GDP PPP of $4.3 trillion. Gross fixed capital formation (% of GDP) n.a. note: data are in 2015 US dollars country comparison to the world (CIA rank, may be based on non-current data): 194 [see also: GDP - per capita country ranks… next lower ranked economy is china at 72th place in nominal and Indonesia at 99th place in ppp terms. This page lists the countries of the world sorted by their gross domestic product per capita at nominal values.This is the value of all final goods and services produced within a nation in a given year, converted at market exchange rates to current U.S. dollars, divided by the average population for the same year.. The United Kingdom is ranked 9 with a GDP PPP of $3.1 trillion. Data Source: World Bank MLA Citation: Similar Country Ranking; … I have a link to the ranking I used. The list of countries by GDP showed on this page is based on the latest data from the World Economic Outlook by the International Monetary Fund. Norwegen BIP Letzte Zuletzt Höchste Unterste Einheit; Bip-Wachstum 4.60-4.70: 4.60-4.70: Percent: BIP Veränderung zum Vorjahr GDP grew mildly in August, slowing from July’s level as household spending lost steam—evidenced by a slowdown in retail sales during the month—and coming amid decelerating industrial production growth. PPP takes into account the relative cost of living, rather than using only exchange rates, therefore providing a more accurate picture of the real differences in income. The fall in the GDP ranking is primarily due to a considerable price decrease over the last two years for oil, Norway’s main export good. Norway - GDP per capita GDP per capita (current US$) The latest value for GDP per capita (current US$) in Norway was $81,697 as of 2018. One of the wealthiest nations in the world, Norway ranks 12th in the Happy Planet Index - the highest scoring European country. Definition: GDP per capita is gross domestic product divided by midyear population. The overall rank isn't that high because of the labor regulation and high taxes but they may not be as important. Gas production, conversely, has more than doubled since 2000. Stat France Rank; Exports of goods and services, % of GDP 31.3%: 113: Imports of goods and services, % of GDP 32.1%: 136: Current account balance (balance of payments)-$19B 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. $3.36 trillion, and the gap is increasing. Norway gdp growth rate for 2016 was 1.07%, a 0.9% decline from 2015. Also Show. Among the top 10 economies, India has very low per capita income having 142th position in nominal and 126th position in ppp ranking. Note: Rankings include only those economies with confirmed GDP estimates. Norway ranks very highly in terms of wellbeing, life expectancy, and having low inequality in those measures. All suggestions for corrections of any errors about Military expenditures - percent of GDP should be addressed to the CIA. 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