Eritrea vs Norway: Economic Indicators Comparison

Norway with a GDP of $434.2B ranked the 30th largest economy in the world, while Eritrea ranked 170th with $2.6B. By GDP 5-years average growth and GDP per capita, Norway and Eritrea ranked 142nd vs 79th and 5th vs 178th, respectively.

Gross Domestic Product & Income

Stat	Eritrea	Norway
GDP	$2.6B	$434.2B
GDP growth, 1 year	4.2%	1.4%
GDP growth, 5-years average	3.3%	1.7%
Population	3.5M	5.4M
GDP per capita	$811	$82k
GDP per capita growth	7.21%	0.58%
Purchasing Power Parity conversion factor	5.93	10.14
Price level ratio of PPP conversion factor GDP to market exchange rate	0.39	1.25
GDP per capita, PPP adjusted	$1.7k	$74k
GNI, Atlas method	$2.3B	$428.4B
GNI per capita	$720	$81k
GNI, PPP adjusted	$6.7B	$363B
GNI per capita, PPP adjusted	$2.1k	$68k

Financial system and Human development

Stat	Eritrea	Norway
Income Tax Rate	30%	47.8%
Corporate Tax Rate	30%	22%
Inflation, consumer prices	9%	2.8%
Inflation, GDP deflator	13.3%	5.8%
Unemployment	6.5%	3.9%
Economic Freedom Index	38.5	73.4
Personal Freedom Index	4.8	9.55
Human Freedom Index	4.8	8.61
Property Rights Index	32.5	84.3
Judical Effectiveness Index	14.3	82.8
Business Freedom Index	18.2	86.1
Fiscal Health Index	0	97.3
Labor Freedom Index	69.7	57.4
Investment Freedom Index	0	75
Financial Freedom Index	20	60
Trade Freedom Index	69.2	83.8
Monetary Freedom Index	61	74.8
Government Spending Index	74.7	25.6
Tax Burden Index	81.4	57.7
Government Integrity Index	21.4	95.6
Corruption Perceptions Index	24	84
Life expectancy at birth, years	65.5	82.5
Suicide mortality rate, per 100,000 people	7.9	12.2
Mortality caused by road traffic injury, per 100,000 people	25.3	2.7
Intentional homicides, per 100,000 people	8	0.5
International tourism, number of arrivals	142k	5.7M

Government debt & reserves

Stat	Eritrea	Norway
Central government debt, % of GDP	129.4%	36.8%
External debt stocks, % of GNI	40.8%	N/A
External debt stocks	$791.2M	N/A
Short-term debt, % of total reserves	16%	N/A
Total debt service, % of exports and primary income	4.3%	N/A
Adjusted net savings including particulate emission damage, % of GNI	0.5%	16.9%
Gross savings, % of GDP	15.8%	35.9%
Gross capital formation, % of GDP	10%	27.3%
Total reserves including gold	$114.8M	$63.1B
Foreign direct investment net inflows	$61M	-$17.4B

Exports, imports and economic structure

Stat	Eritrea	Norway
Exports of goods and services, % of GDP	14.4%	38.4%
Imports of goods and services, % of GDP	23.2%	32.6%
Current account balance (balance of payments)	-$104.7M	$31.4B
Revenue excluding grants, % of GDP	N/A	47.4%
Grants excluding technical cooperation, BoP	$82M	N/A
Personal remittances received	$3.3M	$644.3M
Industry including construction value added, % of GDP	21.8%	32%
Agriculture, forestry and fishing value added, % of GDP	14.1%	1.9%
Charges for the use of intellectual property, payments BoP	$281k	$768.9M
Charges for the use of intellectual property, receipts BoP	$94k	$515.2M
Expense, % of GDP	N/A	37.7%
Government Expenditure, % of GDP	29.1%	49.8%