Iraq vs Norway: Economic Indicators Comparison

Norway with a GDP of $434.2B ranked the 30th largest economy in the world, while Iraq ranked 50th with $224.2B. By GDP 5-years average growth and GDP per capita, Norway and Iraq ranked 142nd vs 85th and 5th vs 103rd, respectively.

Gross Domestic Product & Income

StatIraqNorway
GDP$224.2B$434.2B
GDP growth, 1 year0.6%1.4%
GDP growth, 5-years average3.1%1.7%
Population38.3M5.4M
GDP per capita$5.8k$82k
GDP per capita growth-2.84%0.58%
Purchasing Power Parity conversion factor395.5110.14
Price level ratio of PPP conversion factor GDP to market exchange rate0.331.25
GDP per capita, PPP adjusted$18k$74k
GNI, Atlas method$193.6B$428.4B
GNI per capita$5k$81k
GNI, PPP adjusted$661.5B$363B
GNI per capita, PPP adjusted$17k$68k

Financial system and Human development

StatIraqNorway
Income Tax Rate15%47.8%
Corporate Tax Rate15%22%
Inflation, consumer prices0.4%2.8%
Inflation, GDP deflator15.4%5.8%
Unemployment7.9%3.9%
Economic Freedom Index2173.4
Personal Freedom Index3.219.55
Human Freedom Index4.288.61
Property Rights Index43.984.3
Judical Effectiveness Index11.282.8
Business Freedom Index52.686.1
Fiscal Health Index76.697.3
Labor Freedom Index44.857.4
Investment Freedom IndexN/A75
Financial Freedom IndexN/A60
Trade Freedom IndexN/A83.8
Monetary Freedom Index76.474.8
Government Spending Index59.525.6
Tax Burden IndexN/A57.7
Government Integrity Index20.895.6
Corruption Perceptions Index1884
Life expectancy at birth, years70.382.5
Suicide mortality rate, per 100,000 people312.2
Mortality caused by road traffic injury, per 100,000 people20.72.7
Intentional homicides, per 100,000 people9.90.5
International tourism, number of arrivals892k5.7M

Government debt & reserves

StatIraqNorway
Central government debt, % of GDP48.4%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 GNI-7%16.9%
Gross savings, % of GDP20.1%35.9%
Gross capital formation, % of GDP12.9%27.3%
Total reserves including gold$64.7B$63.1B
Foreign direct investment net inflows-$4.9B-$17.4B

Exports, imports and economic structure

StatIraqNorway
Exports of goods and services, % of GDP44%38.4%
Imports of goods and services, % of GDP35.9%32.6%
Current account balance (balance of payments)$34.4B$31.4B
Revenue excluding grants, % of GDP26.3%47.4%
Grants excluding technical cooperation, BoP$1.7BN/A
Personal remittances received$741.7M$644.3M
Industry including construction value added, % of GDP56.1%32%
Agriculture, forestry and fishing value added, % of GDP2%1.9%
Charges for the use of intellectual property, payments BoP$7.8M$768.9M
Charges for the use of intellectual property, receipts BoP$100k$515.2M
Expense, % of GDP25.3%37.7%
Government Expenditure, % of GDP36.7%49.8%

Compare with countries close by GDP per capita

Iraq vs

CountryGDP
per capita
Population
Saint Vincent
$7.4k
110k
Thailand
$7.3k
65.9M
Serbia
$7.2k
7.02M
Libya
$7.2k
6.68M
Turkmenistan
$7k
5.85M
Peru
$6.9k
29.4M
Colombia
$6.7k
49.1M
South Africa
$6.4k
57.7M
Ecuador
$6.3k
16.6M
Belarus
$6.3k
9.41M
Fiji
$6.3k
906k
Suriname
$6.2k
563k
North Macedonia
$6.1k
2.08M
Bosnia and Herzegovina
$6.1k
3.51M
Namibia
$5.9k
2.53M
Paraguay
$5.8k
6.81M
Iran
$5.6k
80M
Jamaica
$5.4k
2.89M
Albania
$5.3k
3.02M
Guyana
$5k
778k
Belize
$4.9k
375k
Azerbaijan
$4.7k
10M
Georgia
$4.7k
3.72M
Guatemala
$4.5k
17.3M
Tonga
$4.4k
108k
Jordan
$4.2k
10.4M
Armenia
$4.2k
2.93M
Samoa
$4.2k
196k
Eswatini
$4.1k
1.37M
Mongolia
$4.1k
3.08M

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