industry: 19.3% GDP (purchasing power parity): )country comparison to the world (CIA rank, may be based on non-current data): 56 (1995)country comparison to the world (CIA rank, may be based on non-current data): Current account balance: [see also: Inflation rate (consumer prices) country ranks ] Stock of broad money: (2016 est. Labor force - by occupation: 23 revenues: 217.1 billion [see also: Imports country ranks ] $196.3 billion 1.9% [see also: GDP - composition, by sector of origin - industry country ranks ] 6.3021 [see also: Reserves of foreign exchange and gold 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% [see also: Debt - external country ranks ] $214 billion Exports: (31 December 2016 est. (31 December 2017 est.) ), Central bank discount rate: (31 December 2016 est. )country comparison to the world (CIA rank, may be based on non-current data): (2016 est. 8.3978 (31 March 2015 est.) $196.3 billion Industries: petroleum and gas, shipping, fishing, aquaculture, food processing, shipbuilding, pulp and paper products, metals, chemicals, timber, mining, textiles (31 December 2016 est. $196.3 billion $237.7 billion [see also: Debt - external country ranks ] $74.94 billion )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2009)country comparison to the world (CIA rank, may be based on non-current data): 8.308 [see also: Household income or consumption by percentage share - highest 10% country ranks ] (31 December 2015 est.) The economy of Norway is a highly developed mixed economy with state-ownership in strategic areas. $191.7 billion 16 (31 December 2016 est. The services industry contributes 52.7% of the GDP, followed by industry (45.1%) and agriculture (2.2%). 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. $642.3 billion ), 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% (2017) 34 (2017 est. 147, country comparison to the world (CIA rank, may be based on non-current data): 11, country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. Stock of direct foreign investment - abroad: $214 billion $88.88 billion 8.0646 $74.94 billion Debt - external: (2015 est.) (31 December 2016 est. (31 December 2017 est.) (2017 est.) $14.09 billion $640.1 billion [see also: Budget surplus (+) or deficit (-) country ranks ] agriculture: 2.3% (2017 est.) [see also: Market value of publicly traded shares country ranks ] (2015 est.) [see also: Current account balance country ranks ] (31 December 2017 est.) 17 (31 December 2016 est. (2017 est.) Debt - external: [see also: Debt - external country ranks ] [see also: Stock of direct foreign investment - at home country ranks ] (2017 est. [see also: Stock of broad money country ranks ] (31 December 2017 est.) $191.7 billion Current account balance: $642.3 billion Commercial bank prime lending rate: 2.89% Imports: No claims are made regarding the accuracy of Norway Economy 2020 information contained here. (2017 est.) (31 December 2017 est.) 8.308 According to … 1.75% (2017 est.) Income tax rates in Norway in 2020. Income tax is split into a base rate and a step tax, to allow for progressive taxation. Labor force: 2.797 million [see also: Imports country ranks ] Gross national saving: (2017 est.) (31 March 2016 est.) 16, country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. 8.3978 Commercial bank prime lending rate: [see also: Current account balance country ranks ] 8.0646 )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): Those who live in Finnmark or Nord-Troms will pay 18.5%. Commercial bank prime lending rate: 22 [see also: Imports country ranks ] $57.46 billion Imports: (31 December 2017 est.) 147 Taxes and other revenues: 54.4% (of GDP) )country comparison to the world (CIA rank, may be based on non-current data): 6.3021 Imports - partners: Sweden 11.4%, Germany 11%, China 9.8%, US 6.8%, South Korea 6.7%, Denmark 5.4%, UK 4.7% Stock of narrow money: (31 December 2015 est. Population below poverty line: NA (2017 est.) Stock of direct foreign investment - abroad: (2017 est. $14.09 billion [see also: Market value of publicly traded shares country ranks ] $14.09 billion Inflation rate (consumer prices): [see also: Commercial bank prime lending rate country ranks ] $65.92 billion 36 [see also: Budget surplus (+) or deficit (-) country ranks ] 23 (31 December 2017 est.) 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): (2016 est. (2017) [see also: Central bank discount rate country ranks ] Exchange rates: Norwegian kroner (NOK) per US dollar - agriculture: 2.1% 17 )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): Labor force - by occupation: (2017 est.) 8.308 (31 December 2016 est. $57.46 billion )country comparison to the world (CIA rank, may be based on non-current data): [see also: Taxes and other revenues country ranks ] Current account balance: 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.) 28 $196.3 billion $193.9 billion Current account balance: (31 December 2015 est.) 8.0646 [see also: Imports country ranks ] [see also: Central bank discount rate country ranks ] 8.308 (2016 est.) $193.9 billion Current account balance: (31 December 2015 est. 8.0646 (31 December 2016 est. (31 December 2017 est.) [see also: GDP - per capita country ranks ] (31 December 2014 est.) Inflation rate (consumer prices): (31 December 2016 est. The uptick in oil sector output, accompanied by the unwinding of restrictions, spurred a rebound in headline GDP. Stock of domestic credit: (2017 est.) cutting back so-called oil spending in its 2020 budget after years of record outlays. [see also: Labor force - by occupation - services country ranks ] 99 Norway is a high income nation with a vibrant private sector and a substantial safety net. Exports: [see also: Exports country ranks ] (2017) )country comparison to the world (CIA rank, may be based on non-current data): 35.5% of GDP Stock of direct foreign investment - abroad: (31 December 2016 est. (31 March 2015 est.) )country comparison to the world (CIA rank, may be based on non-current data): $642.3 billion 175, country comparison to the world (CIA rank, may be based on non-current data): Imports - commodities: machinery and equipment, chemicals, metals, foodstuffs $22.01 billion (2016 est. $193.9 billion 2.96% )country comparison to the world (CIA rank, may be based on non-current data): 1.75% $14.09 billion 34 )country comparison to the world (CIA rank, may be based on non-current data): (31 March 2015 est.) (2013 est. $219.4 billion agriculture: 2.1% Stock of narrow money: [see also: Imports country ranks ] note: Norway is a net external creditorcountry comparison to the world (CIA rank, may be based on non-current data): [see also: Stock of narrow money 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% Economy | October 30th 2020 Oslo imposes greater coronavirus controls. $102.8 billion Stock of direct foreign investment - abroad: services: 78.6% )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. (2016 est. [see also: Unemployment rate country ranks ] (31 December 2017 est.) [see also: GDP - composition, by end use - exports of goods and services country ranks ] [see also: Market value of publicly traded shares country ranks ] $14.09 billion (2016 est.) ), Stock of domestic credit: [see also: Exports country ranks ] $191.7 billion (31 December 2017 est.) note: Norway is a net external creditorcountry comparison to the world (CIA rank, may be based on non-current data): $571.4 billion (2017 est.) (31 December 2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): 27 1.75% (2015 est.) 6.3021 $237.7 billion 23, country comparison to the world (CIA rank, may be based on non-current data): Stock of direct foreign investment - at home: (2017 est.) Budget: revenues: 217.1 billion )country comparison to the world (CIA rank, may be based on non-current data): Market value of publicly traded shares: (2017 est.) 28 (2017 est.) $193.9 billion 8 [see also: Distribution of family income - Gini index country ranks ] $265.4 billion (2013 est. 8 (2017 est.) $265.4 billion $74.94 billion 6.3021 Reserves of foreign exchange and gold: (2010) Exchange rates: Norwegian kroner (NOK) per US dollar - (31 December 2017 est.) (31 December 2016 est. )country comparison to the world (CIA rank, may be based on non-current data): $95.06 billion 8.0646 )country comparison to the world (CIA rank, may be based on non-current data): Imports - partners: Sweden 11.4%, Germany 11%, China 9.8%, US 6.8%, South Korea 6.7%, Denmark 5.4%, UK 4.7% (2017 est.) (31 December 2015 est.) [see also: Imports country ranks ] 99 )country comparison to the world (CIA rank, may be based on non-current data): (31 March 2015 est.) $214 billion According to the Organization for Economic Cooperation and Development, Norway was one of the top spenders on education in the world, averaging about $23,500 per university student in 2020. $57.46 billion )country comparison to the world (CIA rank, may be based on non-current data): $571.4 billion Exchange rates: Norwegian kroner (NOK) per US dollar - (31 March 2016 est.) [see also: Reserves of foreign exchange and gold country ranks ] $265.4 billion )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): The Norwegian economy has been adjusting to lower energy prices, as demonstrated by growth in labor force participation and employment in 2017. 2.96% (2015 est.) [see also: Industrial production growth rate country ranks ] Reserves of foreign exchange and gold: 6.3021 $219.4 billion 34 [see also: Taxes and other revenues country ranks ] (2015 est.) Imports: (2017 est.) $65.92 billion 34 (2016 est. $640.4 billion (31 December 2016 est. [see also: Current account balance country ranks ] (2017 est.) (2017 est.) Stock of direct foreign investment - abroad: (2017) 22 (2017 est.) $236.5 billion )country comparison to the world (CIA rank, may be based on non-current data): $640.1 billion )country comparison to the world (CIA rank, may be based on non-current data): 28 $196.3 billion (2017 est.) (31 December 2016 est. (31 December 2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): 2.96% 8.0646 (31 March 2016 est.) 36 (2015 est.) (2017 est.) [see also: Current account balance country ranks ] 4.7% [see also: GDP - composition, by sector of origin - services country ranks ] [see also: Population below poverty line country ranks ] 36.5% of GDP 36, 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): (31 December 2015 est. services: 78.6% (31 December 2015 est. [see also: Inflation rate (consumer prices) country ranks ] (31 December 2016 est. $102.8 billion [see also: Taxes and other revenues country ranks ] (2017 est.) [see also: Central bank discount rate country ranks ] [see also: Reserves of foreign exchange and gold country ranks ] $191.7 billion [see also: Stock of direct foreign investment - abroad country ranks ] (31 March 2016 est.) 146 34 $265.4 billion (2015 est.) $219.1 billion $22.01 billion [see also: Stock of direct foreign investment - abroad country ranks ] [see also: Stock of broad money country ranks ] $74.94 billion 56 [see also: Labor force country ranks ] [see also: Stock of direct foreign investment - abroad country ranks ] 26.8 $65.92 billion 34 $642.3 billion $57.46 billion 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): GDP - per capita: $102.8 billion $191.7 billion Norway gdp for 2018 was $342.22B, a 0.46% decline from 2018. (2013 est. 36 Stock of direct foreign investment - at home: Imports: )country comparison to the world (CIA rank, may be based on non-current data): [see also: Public debt country ranks ] 8 1.9% [see also: GDP (official exchange rate) country ranks ] Reserves of foreign exchange and gold: (31 December 2017 est.) (31 March 2015 est.) )country comparison to the world (CIA rank, may be based on non-current data): 8.0646 36 175 Stock of domestic credit: (1995)country comparison to the world (CIA rank, may be based on non-current data): $237.7 billion [see also: Labor force - by occupation - industry country ranks ] (2014 est.) $196.3 billion 36.4% of GDP Imports - commodities: machinery and equipment, chemicals, metals, foodstuffs 4.2% 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): $57.46 billion )country comparison to the world (CIA rank, may be based on non-current data): 143 Imports - commodities: machinery and equipment, chemicals, metals, foodstuffs Household income or consumption by percentage share: )country comparison to the world (CIA rank, may be based on non-current data): $640.1 billion )country comparison to the world (CIA rank, may be based on non-current data): 2.96% (31 December 2016 est. 4.2% 28 [see also: Labor force country ranks ] [see also: Stock of direct foreign investment - abroad country ranks ] Fiscal year: calendar year 25.8 )country comparison to the world (CIA rank, may be based on non-current data): $640.4 billion )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2017 est.) 23 (2017) 3.6% 27 Exports: [see also: Population below poverty line country ranks ] $571.4 billion Debt - external: Norway’s domestic electricity production relies almost entirely on hydropower. 2.89% $95.06 billion (2017 est.) (2017 est.) (31 March 2016 est.) )country comparison to the world (CIA rank, may be based on non-current data): 36 1.1% (2017 est.) $65.92 billion (31 December 2016 est. (2017 est.) [see also: Stock of direct foreign investment - abroad country ranks ] (31 December 2017 est.) 6.25% 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% (2017 est.) $193.9 billion (31 March 2015 est.) (2016 est. Imports - commodities: machinery and equipment, chemicals, metals, foodstuffs 11 (2017 est.) $95.06 billion (2017 est. 8.0646 23 Gas production, conversely, has more than doubled since 2000. (31 December 2015 est. 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