Belgium vs Norway: Economic Indicators Comparison

Belgium with a GDP of $542.8B ranked the 24th largest economy in the world, while Norway ranked 30th with $434.2B. By GDP 5-years average growth and GDP per capita, Belgium and Norway ranked 146th vs 142nd and 20th vs 5th, respectively.

Gross Domestic Product & Income

StatBelgiumNorway
GDP$542.8B$434.2B
GDP growth, 1 year1.4%1.4%
GDP growth, 5-years average1.5%1.7%
Population11.4M5.4M
GDP per capita$48k$82k
GDP per capita growth1.04%0.58%
Purchasing Power Parity conversion factor0.7810.14
Price level ratio of PPP conversion factor GDP to market exchange rate0.921.25
GDP per capita, PPP adjusted$48k$74k
GNI, Atlas method$524.4B$428.4B
GNI per capita$46k$81k
GNI, PPP adjusted$591B$363B
GNI per capita, PPP adjusted$52k$68k

Financial system and Human development

StatBelgiumNorway
Income Tax Rate50%47.8%
Corporate Tax Rate29%22%
Inflation, consumer prices2.3%2.8%
Inflation, GDP deflator1.5%5.8%
Unemployment6.3%3.9%
Economic Freedom Index68.973.4
Personal Freedom Index9.069.55
Human Freedom Index8.288.61
Property Rights Index84.584.3
Judical Effectiveness Index62.582.8
Business Freedom Index75.286.1
Fiscal Health Index7797.3
Labor Freedom Index61.157.4
Investment Freedom Index8575
Financial Freedom Index7060
Trade Freedom Index86.483.8
Monetary Freedom Index80.574.8
Government Spending Index17.225.6
Tax Burden Index46.757.7
Government Integrity Index80.295.6
Corruption Perceptions Index7584
Life expectancy at birth, years81.482.5
Suicide mortality rate, per 100,000 people20.712.2
Mortality caused by road traffic injury, per 100,000 people5.82.7
Intentional homicides, per 100,000 people1.70.5
International tourism, number of arrivals9.1M5.7M

Government debt & reserves

StatBelgiumNorway
Central government debt, % of GDP101.4%36.8%
External debt stocks, % of GNIN/AN/A
External debt stocksN/AN/A
Short-term debt, % of total reservesN/AN/A
Total debt service, % of exports and primary incomeN/AN/A
Adjusted net savings including particulate emission damage, % of GNI12%16.9%
Gross savings, % of GDP24.5%35.9%
Gross capital formation, % of GDP25.5%27.3%
Total reserves including gold$26.9B$63.1B
Foreign direct investment net inflows-$62.8B-$17.4B

Exports, imports and economic structure

StatBelgiumNorway
Exports of goods and services, % of GDP82.6%38.4%
Imports of goods and services, % of GDP82.7%32.6%
Current account balance (balance of payments)-$5.3B$31.4B
Revenue excluding grants, % of GDP38.4%47.4%
Grants excluding technical cooperation, BoPN/AN/A
Personal remittances received$12.3B$644.3M
Industry including construction value added, % of GDP19.1%32%
Agriculture, forestry and fishing value added, % of GDP0.5%1.9%
Charges for the use of intellectual property, payments BoP$3.7B$768.9M
Charges for the use of intellectual property, receipts BoP$4.4B$515.2M
Expense, % of GDP39.6%37.7%
Government Expenditure, % of GDP52.5%49.8%

Compare with countries close by GDP per capita

Belgium vs

CountryGDP
per capita
Population
Cayman Islands
$81k
58.4k
Ireland
$79k
4.76M
Iceland
$73k
357k
Qatar
$69k
2.64M
Singapore
$65k
5.89M
United States
$63k
325M
Denmark
$61k
5.83M
Australia
$57k
24.5M
Sweden
$55k
10.3M
Netherlands
$53k
17.3M
Austria
$51k
8.81M
Finland
$50k
5.5M
San Marino
$48k
33.4k
Germany
$48k
83.1M
Canada
$46k
37.9M
United Arab Emirates
$43k
9.4M
United Kingdom
$43k
66M
Andorra
$42k
76.2k
New Zealand
$42k
4.94M
Israel
$42k
9.09M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.3M
Kuwait
$34k
4.6M
Bahamas
$32k
395k
Brunei
$32k
429k
South Korea
$31k
51.5M
Spain
$30k
46.7M
Malta
$30k
465k
Cyprus
$28k
1.14M

Norway vs

CountryGDP
per capita
Population
Monaco
$186k
38.7k
Liechtenstein
$165k
37.9k
Luxembourg
$117k
626k
Switzerland
$83k
8.47M
Cayman Islands
$81k
58.4k
Ireland
$79k
4.76M
Iceland
$73k
357k
Qatar
$69k
2.64M
Singapore
$65k
5.89M
United States
$63k
325M
Denmark
$61k
5.83M
Australia
$57k
24.5M
Sweden
$55k
10.3M
Netherlands
$53k
17.3M
Austria
$51k
8.81M
Finland
$50k
5.5M
San Marino
$48k
33.4k
Germany
$48k
83.1M
Canada
$46k
37.9M
United Arab Emirates
$43k
9.4M
United Kingdom
$43k
66M
Andorra
$42k
76.2k
New Zealand
$42k
4.94M
Israel
$42k
9.09M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.3M
Kuwait
$34k
4.6M
Bahamas
$32k
395k
Brunei
$32k
429k