Italy vs Norway: Economic Indicators Comparison

Italy with a GDP of $2.1T ranked the 8th largest economy in the world, while Norway ranked 30th with $434.2B. By GDP 5-years average growth and GDP per capita, Italy and Norway ranked 154th vs 142nd and 29th vs 5th, respectively.

Gross Domestic Product & Income

Stat	Italy	Norway
GDP	$2.1T	$434.2B
GDP growth, 1 year	0.9%	1.4%
GDP growth, 5-years average	0.9%	1.7%
Population	60.3M	5.4M
GDP per capita	$34k	$82k
GDP per capita growth	0.95%	0.58%
Purchasing Power Parity conversion factor	0.7	10.14
Price level ratio of PPP conversion factor GDP to market exchange rate	0.82	1.25
GDP per capita, PPP adjusted	$40k	$74k
GNI, Atlas method	$2T	$428.4B
GNI per capita	$34k	$81k
GNI, PPP adjusted	$2.6T	$363B
GNI per capita, PPP adjusted	$42k	$68k

Financial system and Human development

Stat	Italy	Norway
Income Tax Rate	43%	47.8%
Corporate Tax Rate	27.5%	22%
Inflation, consumer prices	1.2%	2.8%
Inflation, GDP deflator	0.9%	5.8%
Unemployment	10.2%	3.9%
Economic Freedom Index	63.8	73.4
Personal Freedom Index	8.79	9.55
Human Freedom Index	8.01	8.61
Property Rights Index	75.4	84.3
Judical Effectiveness Index	51.3	82.8
Business Freedom Index	70.4	86.1
Fiscal Health Index	71.1	97.3
Labor Freedom Index	50.9	57.4
Investment Freedom Index	80	75
Financial Freedom Index	50	60
Trade Freedom Index	86.4	83.8
Monetary Freedom Index	83.2	74.8
Government Spending Index	28.5	25.6
Tax Burden Index	56	57.7
Government Integrity Index	62.2	95.6
Corruption Perceptions Index	52	84
Life expectancy at birth, years	83.2	82.5
Suicide mortality rate, per 100,000 people	8.2	12.2
Mortality caused by road traffic injury, per 100,000 people	5.6	2.7
Intentional homicides, per 100,000 people	0.7	0.5
International tourism, number of arrivals	61.6M	5.7M

Government debt & reserves

Stat	Italy	Norway
Central government debt, % of GDP	132.1%	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	6%	16.9%
Gross savings, % of GDP	20.8%	35.9%
Gross capital formation, % of GDP	18.2%	27.3%
Total reserves including gold	$152.4B	$63.1B
Foreign direct investment net inflows	$39.6B	-$17.4B

Exports, imports and economic structure

Stat	Italy	Norway
Exports of goods and services, % of GDP	31.5%	38.4%
Imports of goods and services, % of GDP	29%	32.6%
Current account balance (balance of payments)	$53.8B	$31.4B
Revenue excluding grants, % of GDP	37.7%	47.4%
Grants excluding technical cooperation, BoP	N/A	N/A
Personal remittances received	$9.9B	$644.3M
Industry including construction value added, % of GDP	21.4%	32%
Agriculture, forestry and fishing value added, % of GDP	1.9%	1.9%
Charges for the use of intellectual property, payments BoP	$5.1B	$768.9M
Charges for the use of intellectual property, receipts BoP	$4.9B	$515.2M
Expense, % of GDP	41.3%	37.7%
Government Expenditure, % of GDP	48.8%	49.8%