Bhutan vs Norway: Economic Indicators Comparison

Norway with a GDP of $434.2B ranked the 30th largest economy in the world, while Bhutan ranked 172nd with $2.4B. By GDP 5-years average growth and GDP per capita, Norway and Bhutan ranked 142nd vs 23rd and 5th vs 129th, respectively.

Gross Domestic Product & Income

StatBhutanNorway
GDP$2.4B$434.2B
GDP growth, 1 year5.8%1.4%
GDP growth, 5-years average6.1%1.7%
Population808k5.4M
GDP per capita$3.2k$82k
GDP per capita growth1.82%0.58%
Purchasing Power Parity conversion factor21.8110.14
Price level ratio of PPP conversion factor GDP to market exchange rate0.321.25
GDP per capita, PPP adjusted$9.5k$74k
GNI, Atlas method$2.2B$428.4B
GNI per capita$3k$81k
GNI, PPP adjusted$7B$363B
GNI per capita, PPP adjusted$9.3k$68k

Financial system and Human development

StatBhutanNorway
Income Tax Rate25%47.8%
Corporate Tax Rate30%22%
Inflation, consumer prices3.6%2.8%
Inflation, GDP deflator1.8%5.8%
Unemployment2.2%3.9%
Economic Freedom Index62.173.4
Personal Freedom Index6.99.55
Human Freedom Index6.858.61
Property Rights Index69.984.3
Judical Effectiveness Index46.482.8
Business Freedom Index68.286.1
Fiscal Health Index74.897.3
Labor Freedom Index79.457.4
Investment Freedom Index2075
Financial Freedom Index3060
Trade Freedom Index79.483.8
Monetary Freedom Index71.674.8
Government Spending Index71.125.6
Tax Burden Index82.957.7
Government Integrity Index51.295.6
Corruption Perceptions Index6884
Life expectancy at birth, years71.182.5
Suicide mortality rate, per 100,000 people11.412.2
Mortality caused by road traffic injury, per 100,000 people17.42.7
Intentional homicides, per 100,000 people1.60.5
International tourism, number of arrivals274k5.7M

Government debt & reserves

StatBhutanNorway
Central government debt, % of GDP102.6%36.8%
External debt stocks, % of GNI109.2%N/A
External debt stocks$2.5BN/A
Short-term debt, % of total reserves0.4%N/A
Total debt service, % of exports and primary income10.7%N/A
Adjusted net savings including particulate emission damage, % of GNI23.3%16.9%
Gross savings, % of GDP21.6%35.9%
Gross capital formation, % of GDP47.5%27.3%
Total reserves including gold$987.2M$63.1B
Foreign direct investment net inflows$2.6M-$17.4B

Exports, imports and economic structure

StatBhutanNorway
Exports of goods and services, % of GDP30.8%38.4%
Imports of goods and services, % of GDP55.9%32.6%
Current account balance (balance of payments)-$497.6M$31.4B
Revenue excluding grants, % of GDP18.5%47.4%
Grants excluding technical cooperation, BoP$49.2MN/A
Personal remittances received$58.1M$644.3M
Industry including construction value added, % of GDP38.3%32%
Agriculture, forestry and fishing value added, % of GDP15.9%1.9%
Charges for the use of intellectual property, payments BoP$304k$768.9M
Charges for the use of intellectual property, receipts BoP$11k$515.2M
Expense, % of GDP18.5%37.7%
Government Expenditure, % of GDP31.1%49.8%

Compare with countries close by GDP per capita

Bhutan vs

CountryGDP
per capita
Population
Jordan
$4.2k
10.4M
Armenia
$4.2k
2.93M
Samoa
$4.2k
196k
Eswatini
$4.1k
1.37M
Mongolia
$4.1k
3.08M
Algeria
$4.1k
41.3M
Sri Lanka
$4.1k
21.4M
El Salvador
$4.1k
6.42M
Indonesia
$3.9k
264M
Marshall Islands
$3.8k
53.1k
Tuvalu
$3.7k
11.2k
Cape Verde
$3.6k
546k
Bolivia
$3.5k
11.1M
Tunisia
$3.4k
11.6M
Angola
$3.4k
29.8M
Morocco
$3.2k
36M
Moldova
$3.2k
2.55M
Palestine
$3.2k
4.68M
Vanuatu
$3.1k
276k
Philippines
$3.1k
105M
Ukraine
$3.1k
42.6M
Djibouti
$3.1k
957k
Papua New Guinea
$2.7k
8.25M
Vietnam
$2.6k
94.7M
Egypt
$2.5k
94.8M
Laos
$2.5k
6.86M
Honduras
$2.5k
9.27M
Ghana
$2.2k
26.9M
Congo
$2.1k
5.26M
Zimbabwe
$2.1k
16.5M

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
Belgium
$48k
11.4M
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