Norway

Description of Norway

With its rich history, stunning natural landscapes, and advanced economy, Norway stands out as a unique and intriguing country in Northern Europe. From the dazzling fjords to the vibrant city life in Oslo, Norway offers a blend of modernity and tradition that captivates visitors and residents alike. As a global leader in sustainability, innovation, and quality of life, Norway's economic policies and social initiatives set a high standard for other nations to follow. Join us on a journey to explore the intricacies of Norway's economy, culture, and geopolitical significance.

Population And Age Structure

Population, total: Norway's population of 5,379,475 is significantly lower than the average population of 40,097,746, ranking 117 out of 194 countries.

Population ages 0-14 (% of total population): Norway's percentage of population aged 0-14 at 17.21% is below the average of 27.34%, ranking 150 out of 194 countries.

Population ages 0-14, total: Norway's total population aged 0-14 at 925,870 is well below the average of 10,327,380, ranking 126 out of 194 countries.

Population ages 15-64 (% of total population): Norway's percentage of population aged 15-64 at 65.06% is slightly above the average of 63.44%, ranking 90 out of 194 countries.

Population ages 15-64, total: Norway's total population aged 15-64 at 3,499,828 is significantly below the average of 26,003,407, ranking 116 out of 194 countries.

Population ages 65 and above (% of total population): Norway's percentage of population aged 65 and above at 17.73% is notably higher than the average of 9.22%, ranking 33 out of 194 countries.

Population ages 65 and above, total: Norway's total population aged 65 and above at 953,777 is below the average of 3,766,959, ranking 69 out of 194 countries.

Summary

Norway's demographic profile reveals a smaller overall population with a lower percentage of youth (0-14 age group) compared to the global average. However, the country has a higher proportion of elderly individuals (65 and above) than the average. These demographic indicators are crucial for policymakers and businesses to understand as they have implications for healthcare, labor force dynamics, social welfare systems, and consumer market trends within the country.

Population Miscellaneous

In terms of Rural population, Norway has a value of 915,909, which is significantly below the attribute average of 18,044,041. Norway is ranked 131 out of 190 countries in this category.

Regarding Rural population (% of total population), Norway's value of 17.026% is below the attribute average of 41.158%. Norway ranks 159 out of 190 countries in this measure.

Norway's Urban population stands at 4,463,566, well below the attribute average of 22,425,747. Norway is ranked 97 out of 194 countries for Urban population.

Urban population (% of total population) in Norway is 82.974%, above the attribute average of 59.691%. This places Norway at rank 36 out of 194 countries for this statistic.

The Age dependency ratio (% of working-age population) in Norway is 53.71%, slightly below the attribute average of 59.22%. Norway holds the 105th position out of 194 countries in this aspect.

With a Birth rate of 9.8 per 1,000 people, Norway is below the attribute average of 19.38. This places Norway at rank 160 out of 192 countries for Birth rate.

For Death rate, crude (per 1,000 people), Norway has a rate of 7.5, slightly below the attribute average of 8.21. Norway ranks at 99 out of 192 countries in this metric.

Regarding Fertility rate, total (births per woman), Norway has a rate of 1.48, below the attribute average of 2.60. Norway is ranked 157 out of 190 countries for Fertility rate.

Summary

Norway exhibits a unique demographic profile compared to global averages. The country has a lower rural population and birth rate, while having a higher urban population percentage and fertility rate. These indicators suggest a more urbanized and economically developed society with lower natural population growth. Understanding these macroeconomic indicators is crucial for assessing Norway's demographic trends, social structure, and potential future challenges related to population dynamics and labor force.

Military

Analysis of Key Military and Defense Statistics for Norway:

Summary

Norway's military expenditure is below the global average, but its expenditure as a percentage of GDP is slightly higher than average. The country has a lower number of armed forces personnel compared to the global average. It ranks moderately in arms imports and exports. These statistics are crucial as they reflect Norway's defense priorities, its economic allocation towards military capabilities, and its position in the global arms trade landscape.

Natural Resources

1. Norway's forest area is 121,800 sq. km, which is below the global average of 211,606.11 sq. km. Norway ranks 50th out of 191 countries in this attribute.

2. The land area in Norway is 364,285 sq. km, significantly lower than the global average of 665,166.51 sq. km. Norway holds the 62nd position out of 194 countries included in the data.

3. Norway's surface area is 624,499 sq. km, slightly under the average of 689,779.56 sq. km. The country ranks 42nd out of 194 nations in terms of surface area.

4. Norway's arable land spans 804,497 hectares, much smaller than the average of 7,329,543.16 hectares. Norway's rank is 116th out of 190 countries for this attribute.

5. The land under cereal production in Norway covers 279,965 hectares, well below the global average of 4,206,011.63 hectares. Norway holds the 115th spot out of 174 countries.

6. Norway receives an average precipitation depth of 1,414 mm per year, higher than the global average of 1,157.83 mm per year. The country ranks 62nd out of 178 nations in this category.

7. Norway's total renewable internal freshwater resources amount to 382 billion cubic meters, surpassing the average of 240.41 billion cubic meters. In this attribute, Norway ranks 21st out of 178 countries.

Summary

Norway shows below-average figures in various key macroeconomic indicators such as forest area, land area, arable land, and land under cereal production when compared globally. However, the country excels in areas like annual precipitation depth and total renewable internal freshwater resources, ranking higher than the global averages. These indicators are crucial as they reflect Norway's environmental resources and potential for agriculture, which can impact its economy, trade relations, and overall sustainability.

Resource Rents

- Norway's Total natural resources rents account for 4.18% of its GDP, slightly below the average of 4.63%. This places Norway at rank 59 out of 175 countries. - In terms of Coal rents, Norway's value is significantly lower at 0.00028% of GDP compared to the average of 0.40%. This puts Norway at rank 60 out of 65 countries. - Forest rents in Norway contribute 0.04% to its GDP, well below the average of 1.53%. Norway ranks 131 out of 174 countries in this aspect. - Norway's Oil rents are at 3.23% of GDP, higher than the average of 2.51%. This places Norway at rank 23 out of 117 countries. - Natural gas rents in Norway stand at 0.91% of GDP, lower than the average of 1.25%. Norway ranks 25th out of 96 countries in this category.

Summary

Norway's natural resource rents as a percentage of its GDP vary across different sectors, with higher contributions from oil relative to coal and forest resources. Despite ranking lower in coal and forest rents compared to global averages, Norway's strong performance in oil and natural gas rents highlights the significance of these sectors in supporting the country's economy. These findings are crucial as they underscore Norway's dependency on oil and gas revenues, indicating the need for diversification strategies to mitigate risks associated with fluctuations in commodity prices and demand.

Commodities

- Cereal production in Norway is 1,311,300 metric tons, significantly below the average of 17,249,945. Norway ranks 101 out of 174 countries in this category.
- Aquaculture production in Norway is 1,490,412.05 metric tons, above the average of 679,642.92. Norway ranks 10 out of 180 countries.
- Capture fisheries production in Norway is 2,625,367.78 metric tons, surpassing the average of 467,453.06. Norway ranks 9 out of 190 countries.
- Total fisheries production in Norway is 4,115,779.83 metric tons, well above the average of 1,153,914.85. Norway ranks 11 out of 182 countries.
- Fertilizer consumption in Norway is 208.41 kilograms per hectare of arable land, higher than the average of 159.04. Norway ranks 40 out of 187 countries.

Summary

Norway exhibits strong performance in key agricultural sectors such as aquaculture, capture fisheries, and total fisheries production, ranking above average in all categories. Additionally, its high fertilizer consumption per hectare of arable land indicates a proactive approach to boosting agricultural productivity. These indicators are crucial as they showcase Norway's potential for food security, economic growth, and sustainability in the global market.

Intellectual Property

1. Industrial design applications, nonresident, by count: Norway's value of 2834 for this attribute is above the average of 1415.83. Norway ranks 14th out of 112 countries in this data set.

2. Industrial design applications, resident, by count: With a value of 480, Norway falls below the average of 9799.58 for this attribute. Norway is ranked 43rd out of 113 countries.

3. Patent applications, nonresidents: Norway's value of 564 is below the average of 6538.40 for this attribute. In this data set, Norway ranks 39th out of 129 countries.

4. Patent applications, residents: Norway's value of 880 is also below the average of 19037.56. The country ranks 35th out of 117 countries in this attribute.

5. Trademark applications, nonresident, by count: Norway excels with a value of 31133, surpassing the average of 15878.93. In this data set, Norway ranks 18th out of 130 countries.

6. Trademark applications, resident, by count: Norway's value of 11059 is significantly below the average of 111055.78. The country ranks 46th out of 129 countries for this attribute.

7. Scientific and technical journal articles: Norway's value of 13262.07 is slightly below the average of 15103.76. The country ranks 35th out of 192 countries in this dataset.

8. Charges for the use of intellectual property, payments (BoP, current US$): Norway's value of 739,106,285.41 is well below the average of 3,218,843,494.39. Norway ranks 42nd out of 143 countries for this attribute.

9. Charges for the use of intellectual property, receipts (BoP, current US$): Norway's value of 605,352,582.56 is also below the average of 3,191,687,117.58. The country ranks 32nd out of 122 countries in this dataset.

10. Researchers in R&D (per million people): Norway's value of 6765.33 is significantly above the average of 2556.45. In this attribute, Norway ranks 6th out of 72 countries.

Summary

Norway demonstrates strengths in industrial design applications and trademark applications, both by nonresidents, surpassing global averages in these areas. However, the country lags behind in patent applications, both by residents and nonresidents. Despite this, Norway excels in the number of researchers engaged in R&D per million people, highlighting a strong commitment to innovation and technological advancement.

These findings are important as they shed light on Norway's innovation capabilities and its focus on research and development. By excelling in certain areas like industrial and trademark applications, Norway showcases its potential for creativity and entrepreneurship. The high number of researchers in R&D further signifies the country's dedication to fostering a culture of innovation, which could be crucial for long-term economic growth and competitiveness on a global scale.

Broad Economy Attributes

Analysis of key economic attributes for Norway:
- Norway's GDP (current US$) is $367.63 billion, ranking 32 out of 189 countries. This is below the average GDP of $442.87 billion.
- Norway's GDP, PPP (current international $) stands at $361.02 billion, ranking 51 out of 181 countries. This value is also below the average GDP of $734.14 billion.
- Norway's GDP per capita (current US$) is $68,340, ranking 6 out of 190 countries. This is significantly above the average GDP per capita of $15,462.
- Norway's GDP per capita, PPP (current international $) is $67,110, ranking 7 out of 181 countries. This figure is above the average of $21,251.
- Norway's GNI (current US$) is $382.83 billion, ranking 30 out of 185 countries, below the average GNI of $452.04 billion.
- Norway's GNI, PPP (current international $) stands at $375.95 billion, ranking 48 out of 181 countries, also below the average GNI of $730.70 billion.
- Norway's GNI per capita, PPP (current international $) is $69,890, placing it at rank 7 out of 181 countries, above the average GNI per capita of $20,616.

Summary

Norway exhibits a strong GDP and GNI per capita, ranking high globally in terms of economic output and income levels. Despite ranking below average in total GDP and GNI figures, the country's high GDP and GNI per capita signify a prosperous and affluent population. This indicates a high standard of living and potentially robust domestic consumption patterns, which are crucial for sustaining economic growth and stability in the long term.

Broad Value Added

1. Gross value added at basic prices (GVA) (current US$): Norway's GVA is $324,735,038,498.98, which is below the average of $360,070,943,595.12. Norway ranks 31st out of 176 countries in this attribute.

2. Agriculture, forestry, and fishing, value added (% of GDP): Norway's value added is 1.84% of GDP, significantly below the average of 10.86%. This places Norway at 151st out of 182 countries.

3. Agriculture, forestry, and fishing, value added (current US$): Norway's value added is $6,778,900,787.68, much lower than the average of $19,924,732,828.07. Norway ranks 58th out of 182 countries.

4. Services, value added (% of GDP): Norway's value added is 59.60% of GDP, above the average of 56.72%. Norway ranks 72nd out of 183 countries in this category.

5. Services, value added (current US$): Norway's value added is $219,124,630,498.27, below the average of $295,837,711,130.69. This places Norway at 31st out of 183 countries.

6. Industry (including construction), value added (current US$): Norway's value added is $98,831,507,213.03, lower than the average of $118,421,095,413.50. Norway ranks 34th out of 183 countries in this attribute.

Summary

Norway's key macroeconomic indicators reveal a mixed performance: while its GVA is below the average, its services sector is relatively strong with value added above the average. However, the country lags behind in agriculture, forestry, and fishing sectors, both in percentage of GDP and in absolute value added terms. These findings are vital as they highlight Norway's economic diversification towards services and underscore the need for potential growth and development in its agricultural sector to enhance overall economic resilience and sustainability.

Manufacturing Value Added

1. Manufacturing, value added (current US$): Norway's value of $24,219,417,647.58 is below the attribute average of $76,207,179,589.66. Norway ranks 49th out of 173 countries in this data set.

2. Manufacturing, value added (% of GDP): Norway's value of 6.59% is below the attribute average of 11.90%. Norway ranks 135th out of 173 countries in this data set.

3. Medium and high-tech manufacturing value added (% manufacturing value added): Norway's value of 30.81% is above the attribute average of 24.49%. Norway ranks 49th out of 149 countries in this data set.

4. Chemicals (% of value added in manufacturing): Norway's value of 9.14% is below the attribute average of 11.56%. Norway ranks 46th out of 89 countries in this data set.

5. Food, beverages and tobacco (% of value added in manufacturing): Norway's value of 21.75% is below the attribute average of 24.51%. Norway ranks 43rd out of 92 countries in this data set.

6. Machinery and transport equipment (% of value added in manufacturing): Norway's value of 27.93% is above the attribute average of 16.85%. Norway ranks 19th out of 93 countries in this data set.

7. Textiles and clothing (% of value added in manufacturing): Norway's value of 1.72% is below the attribute average of 6.33%. Norway ranks 69th out of 93 countries in this data set.

8. Other manufacturing (% of value added in manufacturing): Norway's value of 39.45% is below the attribute average of 42.13%. Norway ranks 51st out of 94 countries in this data set.

Summary

Norway's manufacturing sector shows a mixed performance compared to global averages and rankings. While it excels in medium and high-tech manufacturing and machinery and transport equipment, it lags behind in chemicals and textiles. These indicators are important as they reflect Norway's industrial composition, competitiveness, and potential for technological advancement in the global market.

Money

1. Inflation, consumer prices (annual %): Norway's inflation rate is 1.29%, which is below the average of 8.26%. Norway ranks 100th out of 165 countries in this dataset.

2. Inflation, GDP deflator (annual %): Norway's GDP deflator inflation is -2.52%, significantly lower than the average of 6.90%. With this value, Norway ranks 166th out of 188 countries.

3. Broad money growth (annual %): Norway's broad money growth stands at 12.16%, below the average of 18.03%. The country occupies the 81st position out of 139 countries in this metric.

4. Broad money (% of GDP): Norway's broad money as a percentage of GDP is 76.12%, higher than the average of 71.75%. This places Norway at the 54th rank out of 139 countries.

5. Broad money to total reserves ratio: Norway's ratio is 3.72, lower than the average of 5.17. In this aspect, Norway holds the 43rd rank out of 126 countries.

Summary

Norway demonstrates stable economic performance with a moderate inflation rate and healthy broad money growth. Despite a lower than average GDP deflator inflation rate, the country maintains a higher than average broad money as a percentage of GDP. These indicators suggest that Norway has managed to strike a balance between price stability and economic growth, positioning itself well in the global economy.

Consumption Expenditure

Final consumption expenditure (current US$): Norway's final consumption expenditure is $255,803,593,238.34, which is below the average of $381,630,252,515.38. Norway ranks 33 out of 159 countries in this attribute.

Final consumption expenditure (% of GDP): Norway's final consumption expenditure as a percentage of GDP is 69.58%, lower than the average of 82.37%. Norway is ranked 132 out of 159 countries.

General government final consumption expenditure (current US$): Norway's government final consumption expenditure is $96,077,528,984.87, slightly above the average of $93,676,578,238.03. Norway ranks 23 out of 158 countries.

General government final consumption expenditure (% of GDP): Norway's government final consumption expenditure as a percentage of GDP is 26.13%, higher than the average of 18.71%. Norway is ranked 16 out of 158 countries.

Household and NPISHs Final consumption expenditure (current US$): Norway's household and NPISHs final consumption expenditure is $159,726,064,253.47, below the average of $290,127,571,157.69. Norway ranks 37 out of 158 countries.

Households and NPISHs final consumption expenditure (% of GDP): Norway's household and NPISHs final consumption expenditure as a percentage of GDP is 43.45%, lower than the average of 63.68%. Norway is ranked 143 out of 158 countries.

Summary

Norway's final consumption expenditure, both in absolute terms and as a percentage of GDP, is below the global average. The government's final consumption expenditure is higher than the average, indicating significant public sector involvement in the economy. However, household and NPISHs final consumption expenditure falls below the average, pointing towards potential challenges in private consumption and individual spending habits.

These indicators are crucial as they reflect the overall health of the economy and the distribution of consumption between the government and private individuals. A high government final consumption expenditure could suggest robust public services and infrastructure investment, while lower private consumption relative to GDP may signal challenges in individual purchasing power or saving habits.

Equities

- S&P Global Equity Indices (annual % change): In Norway, the annual % change in S&P Global Equity Indices stood at 2.98%, which is higher than the attribute average of 2.06%. This places Norway at rank 33 out of 79 countries included in the data.

Summary

Norway experienced a 2.98% annual growth in S&P Global Equity Indices, exceeding the global average of 2.06%. This performance positioned Norway at 33rd place out of 79 countries surveyed. These findings are significant as they indicate that Norway's equity market outperformed the global average, showcasing the country's strong economic standing and attractiveness to international investors.

Investment

Foreign direct investment, net (BoP, current US$): Norway's value of -7125932364.43649 is significantly below the average of -1615235980.5053596. It ranks 154 out of 169 countries in the dataset.

Foreign direct investment, net inflows (BoP, current US$): Norway's value of -4102660408.42478 is well below the average of 5749271080.145696. It ranks 175 out of 182 countries in the dataset.

Foreign direct investment, net inflows (% of GDP): Norway's value of -1.11596503409555 is lower than the average of 2.609379547494923. It ranks 164 out of 178 countries in the dataset.

Foreign direct investment, net outflows (BoP, current US$): Norway's value of -11228592772.8613 is significantly below the average of 5707991116.068991. It ranks 151 out of 156 countries in the dataset.

Foreign direct investment, net outflows (% of GDP): Norway's value of -3.05429055031693 is below the average of 1.00435052368164. It ranks 146 out of 155 countries in the dataset.

Portfolio Investment, net (BoP, current US$): Norway's value of 5433217717.59889 is higher than the average of 679559169.5717607. It ranks 26 out of 159 countries in the dataset.

Portfolio equity, net inflows (BoP, current US$): Norway's value of 763549915.143634 is below the average of 9197145994.702154. It ranks 21 out of 125 countries in the dataset.

Summary

Norway's performance in terms of foreign direct investment depicts a mixed picture. While its net FDI and net inflows of FDI are below average, its ranking in net outflows of FDI is slightly better. However, the country excels in portfolio investments, with high values in both net portfolio investment and portfolio equity net inflows, indicating a strong interest from foreign investors in the Norwegian market.

These findings are important as they highlight Norway's attractiveness to foreign investors, as seen in the robust portfolio investment figures. The lower rankings in FDI metrics may suggest a need for targeted policies to attract more FDI inflows into the country, potentially boosting economic growth and diversification.

Broad Trade Attributes

- Norway's Trade (% of GDP) is below the average of 82.34%, ranking 89th out of 163 countries in the dataset.
- The country's Merchandise trade (% of GDP) is also below the average of 60.01%, ranking 114th out of 186 countries.
- Norway's Trade in services (% of GDP) is below the average of 24.63%, with a rank of 61 out of 171 countries.
- The External balance on goods and services (current US$) for Norway is negative, standing at -3431135498.72, indicating a deficit compared to the average. It ranks 128th out of 163 countries.
- Additionally, Norway's External balance on goods and services (% of GDP) is also negative at -0.93%, below the average of -5.97%. It ranks 71st out of 163 countries.

Summary

Norway exhibits below-average performance in key trade indicators such as Trade (% of GDP), Merchandise trade (% of GDP), and Trade in services (% of GDP) compared to global averages. The country also faces a negative External balance on goods and services, both in absolute terms and as a percentage of GDP. These indicators suggest that Norway may be experiencing trade deficits and challenges in maintaining a balance between imports and exports, which could impact its overall economic stability and growth trajectory.

Net Trade

1. Norway's current account balance in terms of current US$ is significantly above the average, ranking 28th out of 170 countries. This indicates a strong positive balance in international trade.

2. The current account balance as a percentage of GDP for Norway is also above average, ranking 55th out of 170 countries. This signifies a healthy ratio of exports and imports relative to the size of the economy.

3. Norway's net trade in goods and services, measured in current US$, shows a deficit below the average, ranking 133rd out of 171 countries. This suggests a negative balance in trade of goods and services.

4. In terms of net primary income in current US$, Norway performs exceptionally well, significantly above the average and ranking 8th out of 170 countries. This points to substantial earnings from foreign investments.

5. Norway's net secondary income in current US$ is notably lower than the average, with a ranking of 155th out of 170 countries. This indicates a lower level of income from sources such as aid and grants.

6. The net trade in goods, in terms of current US$, for Norway is above average, ranking 45th out of 171 countries. This implies a favorable balance in the trade of goods.

7. Norway's net capital account in current US$ is below average, ranking 144th out of 159 countries, signifying a deficit in the capital account balance.

8. The net financial account for Norway, measured in current US$, is also below average, ranking 115th out of 170 countries. This suggests a lower-than-average financial balance concerning foreign investments.

Summary

Norway demonstrates strong international trade prowess with a significantly positive current account balance and a healthy ratio of exports and imports relative to its GDP. The country excels in earning from foreign investments but lags in receiving secondary income such as aid and grants. The findings highlight Norway's economic stability and its reliance on trade and foreign investments for income generation.

Broad Export Attributes

Exports of goods, services, and primary income (BoP, current US$): Norway's value of $151.74 billion is above the average of $146.24 billion, ranking 33rd out of 170 countries.

Exports of goods and services (BoP, current US$): Norway's value of $118.31 billion is below the average of $122.94 billion, ranking 34th out of 170 countries.

Exports of goods and services (current US$): Norway's value of $118.42 billion is below the average of $129.60 billion, ranking 35th out of 163 countries.

Exports of goods and services (% of GDP): Norway's value of 32.21% is below the average of 38.19%, ranking 71st out of 163 countries.

Goods exports (BoP, current US$): Norway's value of $84.20 billion is below the average of $93.31 billion, ranking 34th out of 171 countries.

International tourism, receipts (% of total exports): Norway's value of 1.86% is below the average of 9.74%, ranking 90th out of 120 countries.

ICT goods exports (% of total goods exports): Norway's value of 1.38% is below the average of 3.81%, ranking 54th out of 142 countries.

Summary

Norway's export performance is varied across different indicators: while its total exports and goods exports are below average, its exports of goods, services, and primary income are above average. However, Norway's export value as a percentage of GDP is lower than the average. The country also lags behind in international tourism receipts and ICT goods exports. These indicators are important as they give insights into Norway's trade competitiveness, economic diversification, and reliance on key sectors for revenue generation.

Merchandise Exports

For "Merchandise exports (current US$)", Norway's value is $84,459,000,000, below the average of $89,542,711,229.95. Norway ranks 36th out of 187 countries in this attribute.

In terms of "Agricultural raw materials exports (% of merchandise exports)", Norway's value is 0.94%, lower than the average of 2.97%. Norway ranks 85th out of 151 countries in this category.

Norway's "Food exports (% of merchandise exports)" stand at 14.54%, below the average of 24.06%. In this aspect, Norway is ranked 82nd out of 152 countries.

In "Fuel exports (% of merchandise exports)", Norway's value is 49.32%, significantly above the average of 13.70%. This places Norway at the 13th rank out of 147 countries.

For "Ores and metals exports (% of merchandise exports)", Norway's value is 8.20%, slightly below the average of 9.10%. The country ranks 37th out of 152 nations in this attribute.

Finally, looking at "Merchandise exports by the reporting economy, residual (% of total merchandise exports)", Norway's value is 0.36%, notably lower than the average of 3.20%. Norway holds the 143rd position out of 166 countries in this specific category.

Summary

Norway performs below average in key macroeconomic indicators related to its exports. While the country excels in fuel exports, it lags behind in agricultural raw materials, food, and ores and metals exports. The low value of merchandise exports by the reporting economy also indicates room for improvement in overall export diversification and competitiveness. These indicators are crucial as they reflect Norway's economic reliance on specific export sectors and highlight areas that may require policy interventions for sustainable economic growth and resilience.

Technology Exports

Norway's manufactures exports account for 22.28% of its merchandise exports, which is below the average of 42.62%. This places Norway at rank 97 out of 152 countries.

Norway's high-technology exports amount to $4,068,984,524, significantly lower than the average of $16,655,934,078.80. This places Norway at rank 37 out of 151 countries.

High-technology exports contribute to 22.07% of Norway's manufactured exports, surpassing the average of 10.15%. This places Norway at rank 21 out of 150 countries.

Norway's medium and high-tech exports account for 49.21% of its manufactured exports, above the average of 34.29%. This places Norway at rank 46 out of 149 countries.

Summary

Norway's manufacturing sector relies significantly on high-technology exports, with high-tech exports contributing over 22% to its total manufactured exports, surpassing the global average by a large margin. Additionally, Norway's medium and high-tech exports together account for almost 50% of its manufactured exports, indicating a strong emphasis on advanced technology products in its export portfolio. These indicators are crucial as they highlight Norway's competitive advantage in high-tech industries and its ability to achieve higher value-added exports, which can lead to increased economic growth and resilience in the face of technological advancements.

Service Exports

Service exports (BoP, current US$): Norway's value for this attribute is $34,113,340,856.28, which is above the average of $28,917,292,503.82. Norway ranks 26 out of 171 countries in this dataset.

ICT service exports (BoP, current US$): Norway's value for this attribute is $3,223,073,464.38, below the average of $4,578,501,153.77. Norway ranks 32 out of 166 countries in this dataset.

ICT service exports (% of service exports, BoP): Norway's value for this attribute is 9.45%, below the average of 11.75%. Norway ranks 72 out of 166 countries in this dataset.

Communications, computer, etc. (% of service exports, BoP): Norway's value for this attribute is 46.31%, above the average of 45.85%. Norway ranks 89 out of 169 countries in this dataset.

Transport services (% of service exports, BoP): Norway's value for this attribute is 38.49%, above the average of 21.80%. Norway ranks 27 out of 169 countries in this dataset.

Travel services (% of service exports, BoP): Norway's value for this attribute is 5.36%, below the average of 26.40%. Norway ranks 140 out of 167 countries in this dataset.

Insurance and financial services (% of service exports, BoP): Norway's value for this attribute is 9.83%, above the average of 6.46%. Norway ranks 36 out of 161 countries in this dataset.

Summary

Norway excels in service exports with a value of $34.1 billion, ranking 26th globally, above the average. However, it falls short in ICT service exports, ranking 32nd with $3.2 billion. Norway also lags in ICT service exports as a percentage of total service exports. The country performs well in communications and transport services but struggles in travel services. The high percentage of insurance and financial services in its exports showcases a diversified and robust service sector, vital for economic stability and growth.

Commercial Service Exports

For Commercial service exports (current US$), Norway's value of $33,983,761,432.84 is above the average of $28,508,218,402.80. This places Norway at rank 26 out of 171 countries in the dataset.

Travel services (% of commercial service exports) in Norway account for 5.39%, below the average of 27.89%. This places Norway at rank 142 out of 167 countries.

Norway's Computer, communications, and other services (% of commercial service exports) value of 46.11% is above the average of 42.44%. This places Norway at rank 82 out of 169 countries.

Insurance and financial services (% of commercial service exports) in Norway constitute 9.87%, higher than the average of 6.97%. Norway is ranked 38 out of 161 countries.

Norway's Transport services (% of commercial service exports) represent 38.64% of the total, above the average of 23.37%. This places Norway at rank 33 out of 169 countries.

Summary

Norway stands out in its commercial service exports with a total value exceeding the average, particularly excelling in computer, communications, and other services. However, the country falls below average in travel services contribution but compensates well through higher shares in insurance, financial services, and transport services. These indicators are crucial as they showcase Norway's diversification in service exports, highlighting strengths and areas for potential growth in its economy.

Broad Import Attributes

Imports of goods and services (current US$): Norway's value of $121.85 billion is below the average of $126.19 billion, ranking 34th out of 163 countries.

Imports of goods and services (% of GDP): Norway's value of 33.14% is below the average of 44.15%, ranking 99th out of 163 countries.

International tourism, expenditures (% of total imports): Norway's value of 3.48% is below the average of 3.98%, ranking 53rd out of 131 countries.

ICT goods imports (% total goods imports): Norway's value of 6.81% is below the average of 6.85%, ranking 48th out of 143 countries.

Goods imports (BoP, current US$): Norway's value of $82.14 billion is below the average of $92.01 billion, ranking 34th out of 171 countries.

Imports of goods and services (BoP, current US$): Norway's value of $121.66 billion is above the average of $120.32 billion, ranking 32nd out of 170 countries.

Imports of goods, services and primary income (BoP, current US$): Norway's value of $139.74 billion is below the average of $144.51 billion, ranking 33rd out of 170 countries.

Summary

Norway's imports of goods and services are generally below global averages in terms of both value and percentage of GDP, indicating a comparatively lower level of economic integration through trade. The country also ranks lower in key import categories such as international tourism expenditures and ICT goods imports. These indicators suggest potential limitations in Norway's external trade relationships and its exposure to global markets, impacting its overall economic growth and competitiveness.

Merchandise Imports

For Merchandise imports (current US$), Norway's value of $80,447,000,000 is below the average of $89,385,605,263. The country ranks 38th out of 190 countries.

Manufactures imports (% of merchandise imports) in Norway are higher than average at 77.11% compared to the average of 66.76%. Norway is ranked 25th out of 152 countries.

Regarding Agricultural raw materials imports (% of merchandise imports), Norway's value of 1.26% is slightly below the average of 1.27%. The country is ranked 64th out of 152 countries.

Food imports (% of merchandise imports) in Norway stand at 10.53%, which is below the average of 15.89%. Norway ranks 117th out of 152 countries in this aspect.

With Fuel imports (% of merchandise imports), Norway's value of 4.39% is notably lower than the average of 11.38%. The country ranks 138th out of 152 countries.

Norway exceeds the average in Ores and metals imports (% of merchandise imports) with a value of 5.69%, compared to the average of 2.57%. The country ranks 15th out of 152 countries.

Merchandise imports by the reporting economy, residual (% of total merchandise imports) in Norway at 5.45% exceed the average of 2.51%. Norway holds the 24th position out of 180 countries included in the data.

Summary

Norway's merchandise imports total $80,447,000,000, below the global average. The country excels in importing manufactures (77.11%), ores and metals (5.69%), and has a higher share of residual imports (5.45%). Conversely, Norway lags in food imports (10.53%) and notably in fuel imports (4.39%). These figures are crucial as they indicate Norway's strength in industrial and metal imports but also highlight vulnerabilities in food and fuel security which warrant attention for diversification and sustainability in the import sector.

Service Imports

Service imports in Norway amount to $39,526,717,178.99, which is above the average of $27,615,356,170.47. Norway ranks 28th out of 171 countries in this attribute.

Communications, computer, etc. represent 59.34% of Norway's service imports, exceeding the average of 44.40%. Norway ranks 39th out of 169 countries in this category.

Transport services make up 23.81% of Norway's service imports, below the average of 32.90%. Norway ranks 107th out of 169 countries in this aspect.

Travel services account for 10.64% of Norway's service imports, lower than the average of 14.14%. Norway ranks 87th out of 169 countries in this metric.

Insurance and financial services make up 6.20% of Norway's service imports, below the average of 8.53%. Norway ranks 90th out of 169 countries in this parameter.

Summary

Norway demonstrates a strong reliance on communications, computer, etc. services for its service imports, surpassing the global average. However, the country falls below average when it comes to transport, travel, insurance, and financial services imports. These findings are crucial as they highlight Norway's specialization and potential vulnerability in certain service sectors within the global market.

Commercial Service Imports

Commercial service imports (current US$): Norway's commercial service imports amount to $39.42 billion, which is higher than the average of $27.10 billion. Norway ranks 26th out of 171 countries in this attribute.

Computer, communications and other services (% of commercial service imports): Norway's percentage of 59.23% spent on these services is above the average of 41.71%. Norway is ranked 34th out of 169 countries in this category.

Insurance and financial services (% of commercial service imports): Norway spends 6.22% on insurance and financial services, below the average of 8.85%. The country ranks 92nd out of 169 countries for this attribute.

Transport services (% of commercial service imports): Norway's expenditure of 23.87% on transport services is below the average of 34.71%. The country holds the 111th rank out of 169 countries in this aspect.

Travel services (% of commercial service imports): Norway allocates 10.67% of its commercial service imports to travel services, lower than the average of 14.73%. Norway ranks 89th out of 169 countries for this attribute.

Summary

Norway stands out in its commercial service imports, exceeding the global average with a total amount of $39.42 billion. The country allocates a higher percentage towards computer, communications, and other services compared to the average, ranking 34th globally in this aspect. However, Norway's expenditure on insurance and financial services is below average, placing it at 92nd worldwide.

These indicators are crucial as they reflect Norway's priorities and strengths in its service imports. The higher spending on technology-related services indicates a focus on innovation and digital infrastructure, which can enhance economic competitiveness. The lower allocation towards insurance and financial services may suggest room for growth in financial sectors to further diversify the economy.

Infrastructure

For Railways, passengers carried, Norway carried 1,804 million passenger-km. This is significantly below the average of 32,281.92 million passenger-km. Norway ranks 30th out of 64 countries in this attribute.

In Railways, goods transported, Norway transported 4,110 million ton-km, also notably lower than the average of 119,231.19 million ton-km. Norway holds the 36th rank out of 62 countries.

In terms of Container port traffic, Norway handled 835,398 TEUs, which is well below the average of 6,907,110.27 TEUs. Norway is ranked 70th among 110 countries in this category.

Regarding Rail lines, Norway has a total route-km of 3,885, which is lower than the average of 12,204.74 route-km. Norway stands at the 27th position out of 66 countries in this regard.

Summary

Norway's performance in key macroeconomic indicators related to transportation infrastructure falls below the global averages for railways passengers carried, goods transported, container port traffic, and rail lines length. These statistics indicate that Norway has room for improvement in its transportation sector to catch up with the global standards and enhance its connectivity and trade efficiency.

Information Technology Infrastructure

1. Secure Internet servers: Norway has 209,961 secure internet servers, which is below the average of 458,294. Norway ranks 37th out of 193 countries in this attribute.

2. Secure Internet servers (per 1 million people): Norway has 39,030 secure internet servers per 1 million people, significantly above the average of 14,067. Norway ranks 23rd out of 193 countries in this attribute.

3. Individuals using the Internet (% of population): With 94.61% of its population using the internet, Norway exceeds the average of 64.77%. Norway ranks 15th out of 180 countries in this attribute.

4. Fixed broadband subscriptions: Norway has 2,387,661 fixed broadband subscriptions, below the average of 6,591,956. Norway ranks 52nd out of 185 countries in this attribute.

5. Mobile cellular subscriptions: Norway has 5,825,584 mobile cellular subscriptions, which is below the average of 42,526,463. Norway ranks 117th out of 193 countries in this attribute.

Summary

Norway performs exceptionally well in terms of secure internet servers per 1 million people and the percentage of individuals using the internet. This indicates a high level of internet accessibility and connectivity within the country. However, Norway lags behind in fixed broadband subscriptions and mobile cellular subscriptions, suggesting potential areas for improvement in expanding access to these types of communication technologies. These indicators are crucial as they reflect the level of digital infrastructure development and connectivity within a country, which are essential for economic growth, innovation, and competitiveness in the global economy.

Energy Consumption

Norway's renewable energy consumption stands at 61.29% of total final energy consumption, significantly above the global average of 32.18%. This places Norway at rank 38 out of 191 countries in this dataset. In contrast, Norway's CO2 emissions are notably low at 36,177.4 kt in comparison to the average of 171,895.94 kt, positioning Norway at rank 61 out of 188 countries.

Summary

Norway demonstrates exceptional leadership in sustainable energy practices with its high renewable energy consumption, ranking 38th globally. Furthermore, with significantly lower CO2 emissions compared to the global average, Norway is placed at 61st position in emissions control. These indicators are crucial as they showcase Norway's commitment to environmental stewardship and sustainability, setting a positive example for other nations to follow in combating climate change and promoting green energy transitions.

Government Balance Sheet

Norway ranks 23 out of 171 countries in "Reserves and related items (BoP, current US$)" with a value of 3849718372.26. This is significantly higher than the attribute average of 1924407186.58.

In "Total reserves minus gold (current US$)", Norway ranks 24 out of 161 countries with 75258813465.03, slightly above the average of 74221588171.61.

Norway ranks 29 out of 161 countries in "Total reserves (includes gold, current US$)" with a value of 75258813465.03. The country's total reserves are notably below the average of 85708019773.47.

For "Total reserves in months of imports", Norway ranks 64 out of 151 countries, with a value of 6.46. This is below the average of 7.10 months.

Summary

Norway ranks high in reserves and related items, total reserves minus gold, and total reserves. However, its total reserves in months of imports are below average. These indicators are crucial as they reflect Norway's financial stability, ability to weather economic shocks, and capacity to meet external obligations.

Government Revenue

Revenue, excluding grants (% of GDP): Norway's value of 44.61% is above the average of 27.02%. The country ranks 4th out of 122 countries in this attribute.

Social contributions (% of revenue): Norway's value of 24.77% is above the average of 22.29%. The country ranks 38th out of 81 countries in this attribute.

Taxes on goods and services (% of revenue): Norway's value of 27.82% is below the average of 31.82%. The country ranks 83rd out of 122 countries in this attribute.

Taxes on international trade (% of revenue): Norway's value of 0.24% is below the average of 6.24%. The country ranks 91st out of 101 countries in this attribute.

Other taxes (% of revenue): Norway's value of 0.40% is below the average of 2.12%. The country ranks 74th out of 106 countries in this attribute.

Taxes on income, profits and capital gains (% of revenue): Norway's value of 19.18% is below the average of 24.66%. The country ranks 76th out of 119 countries in this attribute.

Summary

Norway demonstrates a strong fiscal discipline with high revenue, excluding grants (% of GDP) and social contributions, indicating a robust financial base. However, the country's lower proportion of taxes on goods and services, international trade, other taxes, and on income, profits, and capital gains compared to the global average might suggest potential areas for revenue optimization or restructuring. These indicators are vital as they reflect Norway's financial sustainability, government priorities, and its competitiveness in the global market.

Taxes

Tax revenue (% of GDP): Norway's tax revenue accounts for 21.25% of its GDP, which is above the average of 16.72%. This places Norway at rank 32 out of 123 countries in the data set.

Taxes on exports (% of tax revenue): Norway's taxes on exports represent 0.04% of its tax revenue, significantly below the average of 2.54%. This places Norway at rank 20 out of 36 countries.

Customs and other import duties (% of tax revenue): Norway's customs and import duties account for 0.45% of its tax revenue, well below the average of 9.01%. This places Norway at rank 90 out of 99 countries.

Taxes on income, profits and capital gains (% of total taxes): In Norway, taxes on income, profits, and capital gains make up 40.26% of total taxes, slightly above the average of 38.40%. This places Norway at rank 54 out of 120 countries.

Tariff rate, applied, weighted mean, all products (%): Norway's applied tariff rate for all products is 2.8%, below the average of 5.21%. This places Norway at rank 88 out of 153 countries.

Summary

Norway's tax revenue as a percentage of GDP is higher than the average, indicating a strong fiscal policy. However, the country's reliance on taxes from exports is significantly lower than the average, which could suggest a diversified revenue stream. Norway's low customs and import duties relative to tax revenue could point to a more liberal trade policy. The higher proportion of taxes on income, profits, and capital gains compared to total taxes signifies a progressive tax system. The applied tariff rate for all products being below average showcases Norway's commitment to maintaining open trade relations.

These indicators are important as they reflect Norway's economic structure and government policies. A high tax revenue to GDP ratio could indicate a robust public sector, while lower reliance on export taxes may suggest a balanced approach to taxation. The customs and import duties data hint at Norway's trade competitiveness and openness. The distribution of taxes across income, profits, and capital gains reveals insights into the country's tax system's progressivity, and the tariff rate reflects Norway's stance on international trade relations.

Government Expenses

Expense (% of GDP): Norway's expense as a percentage of GDP is 45.39, which is above the average of 31.69. Norway ranks 15th out of 123 countries in this attribute.

Compensation of employees (% of expense): Norway's employee compensation as a percentage of expense is 14.20, below the average of 24.70. Norway ranks 92nd out of 123 countries based on this metric.

Goods and services expense (% of expense): Norway's expense on goods and services as a percentage of total expense is 8.49, which is below the average of 14.77. Norway's rank is 86th out of 122 countries in this category.

Interest payments (% of expense): Norway's interest payments as a percentage of expense is 0.70, below the average of 6.85. Norway ranks 110th out of 121 countries for this attribute.

Other expense (% of expense): Norway's other expenses as a percentage of total expense is 12.51, higher than the average of 8.29. The country is ranked 25th out of 120 nations in this category.

Subsidies and other transfers (% of expense): Norway's subsidies and other transfers as a percentage of expense are 64.09, significantly above the average of 43.29. Norway ranks 23rd out of 121 countries included in this analysis.

Summary

Norway demonstrates a unique pattern in its key macroeconomic expense indicators compared to a global average. It allocates a higher percentage of GDP towards expenses than the average, with particularly high proportions going to subsidies and other transfers. However, it spends lower on employee compensation and goods/services compared to the average. These indicators are crucial as they reflect Norway's fiscal priorities, welfare state model, and economic sustainability strategies.

Top Stats

Ranks in Top Decile For:

Attribute Rank/Total
Aquaculture production (metric tons) 10/180
Capture fisheries production (metric tons) 9/190
Total fisheries production (metric tons) 11/182
Researchers in R&D (per million people) 6/72
GDP per capita (current US$) 6/190
GDP per capita, PPP (current international $) 7/181
GNI per capita, PPP (current international $) 7/181
Net primary income (BoP, current US$) 8/170
Fuel exports (% of merchandise exports) 13/147
Ores and metals imports (% of merchandise imports) 15/152
Individuals using the Internet (% of population) 15/180
Revenue, excluding grants (% of GDP) 4/122

Ranks in Bottom Decile For:

Attribute Rank/Total
Coal rents (% of GDP) 60/65
Households and NPISHs final consumption expenditure (% of GDP) 143/158
Foreign direct investment, net (BoP, current US$) 154/169
Foreign direct investment, net inflows (BoP, current US$) 175/182
Foreign direct investment, net inflows (% of GDP) 164/178
Foreign direct investment, net outflows (BoP, current US$) 151/156
Foreign direct investment, net outflows (% of GDP) 146/155
Net secondary income (BoP, current US$) 155/170
Net capital account (BoP, current US$) 144/159
Fuel imports (% of merchandise imports) 138/152
Taxes on international trade (% of revenue) 91/101
Customs and other import duties (% of tax revenue) 90/99
Interest payments (% of expense) 110/121