The Cayman Islands vs Norway: Economic Indicators Comparison
Norway with a GDP of $434.2B ranked the 30th largest economy in the world, while the Cayman Islands ranked 158th with $5.1B. By GDP per capita, Norway and the Cayman Islands ranked 5th vs 6th, respectively.
Gross Domestic Product & Income
| Stat |  Cayman Islands |  Norway |
|---|---|---|
| GDP | $5.1B | $434.2B |
| GDP growth, 1 year | 3.04% | 1.4% |
| GDP growth, 5-years average | N/A | 1.7% |
| Population | 58k | 5.4M |
| GDP per capita | $81k | $82k |
| GDP per capita growth | 1.72% | 0.58% |
| Purchasing Power Parity conversion factor | 0.93 | 10.14 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 1.12 | 1.25 |
| GDP per capita, PPP adjusted | $73k | $74k |
| GNI, Atlas method | $3B | $428.4B |
| GNI per capita | $47k | $81k |
| GNI, PPP adjusted | $2.8B | $363B |
| GNI per capita, PPP adjusted | $44k | $68k |
Financial system and Human development
| Stat | Cayman Islands | Norway |
|---|---|---|
| Income Tax Rate | N/A | 47.8% |
| Corporate Tax Rate | N/A | 22% |
| Inflation, consumer prices | -0.6% | 2.8% |
| Inflation, GDP deflator | 1.9% | 5.8% |
| Unemployment | 4.2% | 3.9% |
| Economic Freedom Index | 74 | 73.4 |
| Personal Freedom Index | 8.1 | 9.55 |
| Human Freedom Index | 8.1 | 8.61 |
| Property Rights Index | N/A | 84.3 |
| Judical Effectiveness Index | N/A | 82.8 |
| Business Freedom Index | N/A | 86.1 |
| Fiscal Health Index | N/A | 97.3 |
| Labor Freedom Index | N/A | 57.4 |
| Investment Freedom Index | N/A | 75 |
| Financial Freedom Index | N/A | 60 |
| Trade Freedom Index | N/A | 83.8 |
| Monetary Freedom Index | N/A | 74.8 |
| Government Spending Index | N/A | 25.6 |
| Tax Burden Index | N/A | 57.7 |
| Government Integrity Index | N/A | 95.6 |
| Corruption Perceptions Index | 76 | 84 |
| Life expectancy at birth, years | 82.2 | 82.5 |
| Suicide mortality rate, per 100,000 people | 0.5 | 12.2 |
| Mortality caused by road traffic injury, per 100,000 people | 14 | 2.7 |
| Intentional homicides, per 100,000 people | 8.5 | 0.5 |
| International tourism, number of arrivals | 463k | 5.7M |
Government debt & reserves
| Stat | Cayman Islands | Norway |
|---|---|---|
| Central government debt, % of GDP | N/A | 36.8% |
| External debt stocks, % of GNI | N/A | N/A |
| External debt stocks | N/A | N/A |
| Short-term debt, % of total reserves | N/A | N/A |
| Total debt service, % of exports and primary income | N/A | N/A |
| Adjusted net savings including particulate emission damage, % of GNI | N/A | 16.9% |
| Gross savings, % of GDP | N/A | 35.9% |
| Gross capital formation, % of GDP | N/A | 27.3% |
| Total reserves including gold | $162.1M | $63.1B |
| Foreign direct investment net inflows | $57.4B | -$17.4B |
Exports, imports and economic structure
| Stat | Cayman Islands | Norway |
|---|---|---|
| Exports of goods and services, % of GDP | N/A | 38.4% |
| Imports of goods and services, % of GDP | N/A | 32.6% |
| Current account balance (balance of payments) | -$997.9M | $31.4B |
| Revenue excluding grants, % of GDP | N/A | 47.4% |
| Grants excluding technical cooperation, BoP | $0 | N/A |
| Personal remittances received | $15.6M | $644.3M |
| Industry including construction value added, % of GDP | 7.2% | 32% |
| Agriculture, forestry and fishing value added, % of GDP | 0.4% | 1.9% |
| Charges for the use of intellectual property, payments BoP | $68M | $768.9M |
| Charges for the use of intellectual property, receipts BoP | $9.3M | $515.2M |
| Expense, % of GDP | N/A | 37.7% |
| Government Expenditure, % of GDP | N/A | 49.8% |
