Cyprus vs Norway: Economic Indicators Comparison

Norway with a GDP of $434.2B ranked the 30th largest economy in the world, while Cyprus ranked 109th with $25B. By GDP 5-years average growth and GDP per capita, Norway and Cyprus ranked 142nd vs 99th and 5th vs 36th, respectively.

Gross Domestic Product & Income

StatCyprusNorway
GDP$25B$434.2B
GDP growth, 1 year3.9%1.4%
GDP growth, 5-years average2.8%1.7%
Population1.1M5.4M
GDP per capita$28k$82k
GDP per capita growth2.75%0.58%
Purchasing Power Parity conversion factor0.6310.14
Price level ratio of PPP conversion factor GDP to market exchange rate0.741.25
GDP per capita, PPP adjusted$40k$74k
GNI, Atlas method$24.9B$428.4B
GNI per capita$26k$81k
GNI, PPP adjusted$34.7B$363B
GNI per capita, PPP adjusted$35k$68k

Financial system and Human development

StatCyprusNorway
Income Tax Rate35%47.8%
Corporate Tax Rate12.5%22%
Inflation, consumer prices0.8%2.8%
Inflation, GDP deflator1.4%5.8%
Unemployment8.1%3.9%
Economic Freedom Index70.173.4
Personal Freedom Index8.969.55
Human Freedom Index8.398.61
Property Rights Index77.484.3
Judical Effectiveness Index50.582.8
Business Freedom Index76.686.1
Fiscal Health Index8097.3
Labor Freedom Index59.757.4
Investment Freedom Index7575
Financial Freedom Index6060
Trade Freedom Index86.483.8
Monetary Freedom Index84.374.8
Government Spending Index58.625.6
Tax Burden Index74.857.7
Government Integrity Index57.695.6
Corruption Perceptions Index5984
Life expectancy at birth, years80.782.5
Suicide mortality rate, per 100,000 people5.312.2
Mortality caused by road traffic injury, per 100,000 people5.12.7
Intentional homicides, per 100,000 people0.60.5
International tourism, number of arrivals3.9M5.7M

Government debt & reserves

StatCyprusNorway
Central government debt, % of GDP102.5%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 GNI3.2%16.9%
Gross savings, % of GDP21.8%35.9%
Gross capital formation, % of GDP19.1%27.3%
Total reserves including gold$924.2M$63.1B
Foreign direct investment net inflows$5.2B-$17.4B

Exports, imports and economic structure

StatCyprusNorway
Exports of goods and services, % of GDP73.1%38.4%
Imports of goods and services, % of GDP72.3%32.6%
Current account balance (balance of payments)-$1.1B$31.4B
Revenue excluding grants, % of GDP37.4%47.4%
Grants excluding technical cooperation, BoP$34.2MN/A
Personal remittances received$497.8M$644.3M
Industry including construction value added, % of GDP12.2%32%
Agriculture, forestry and fishing value added, % of GDP2%1.9%
Charges for the use of intellectual property, payments BoP$127.2M$768.9M
Charges for the use of intellectual property, receipts BoP$174k$515.2M
Expense, % of GDP35.4%37.7%
Government Expenditure, % of GDP37.1%49.8%

Compare with countries close by GDP per capita

Cyprus vs

CountryGDP
per capita
Population
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
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M
Bahrain
$24k
1.49M
Portugal
$23k
10.6M
Saudi Arabia
$23k
33M
Estonia
$23k
1.32M
Czech Republic
$23k
10.7M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.4M
Saint Kitts and Nevis
$19k
55.3k
Lithuania
$19k
2.79M
Barbados
$18k
286k
Latvia
$18k
1.91M

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