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CompareEconomy.com Comparison of world economies

Norway

World Rank 22 6.27 Norway flag svg
Capital
Area
Currency
Oslo
385,207 km 2
Norwegian krone (NOK)

Table of Contents

Introduction

The Kingdom of Norway is a nation located in Northern Europe and it is one of the Nordic countries. Most of its territory is located on the western and northernmost portion of the Scandinavian Peninsula. However, they also own the archipelago of Svalbard and the Arctic island of Jan Mayen as well as several other minor isles. There are four different bordering nations, namely Sweden, Denmark, Finland and Russia. The Norwegian land covers approximately 385,000 square kilometers 

Economy

A very important thing we need to remember about is the fact that in spite of close relations with the EU, Norway is not a member of it on its full rights. However, when compared with other EU nations, they can boast with quite attractive GDP. In 2019, it was around $357 billion. It makes them the second most prosperous nation in Scandinavia only behind Sweden.  

As far as the GDP per capita values are concerned, then Norway is number one in Scandinavia with the $66,831 per citizen on average. If we were to place them in the EU's ranking, it would be the third biggest GDP per capita in the entire European Union.

Gross domestic product (GDP, GDP PPP)

Gross domestic product (GDP)

  • Last
  • Historical chart
#28 (2021)
482,174,854,481 US$

List of countries by GDP

(United States of America (USA))

Gross domestic product growth rate

Gross domestic product per capita

Gross domestic product (PPP)

Gross domestic product (PPP) per capita

International trade (Export, Import)

External balance on goods and services

  • Last
  • Historical chart
#11 (2021)
59,100,931,315 US$

List of countries by external balance on goods and services

(China)

External balance on goods and services (% of GDP)

Exports of goods and services (current US$)

Exports of goods and services (% of GDP)

Imports of goods and services (current US$)

Imports of goods and services (% of GDP)

Employment by sector, Unemployment

Unemployment (% of total labor force)

  • Last
  • Historical chart
#122 (2021)
4.37 %

List of countries by unemployment

(South Africa)

Employment in agriculture (% of total employment)

Employment in industry (% of total employment)

Employment in services (% of total employment)

Vulnerable employment (% of total employment)