Libya vs Norway: Economic Indicators Comparison
Gross Domestic Product & Income
| Stat |  Libya |  Norway |
|---|---|---|
| GDP | $48.4B | $434.2B |
| GDP growth, 1 year | 17.9% | 1.4% |
| GDP growth, 5-years average | 1.7% | 1.7% |
| Population | 6.7M | 5.4M |
| GDP per capita | $7.2k | $82k |
| GDP per capita growth | 6.37% | 0.58% |
| Purchasing Power Parity conversion factor | 0.48 | 10.14 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.35 | 1.25 |
| GDP per capita, PPP adjusted | $11k | $74k |
| GNI, Atlas method | $42.8B | $428.4B |
| GNI per capita | $6.4k | $81k |
| GNI, PPP adjusted | $142.5B | $363B |
| GNI per capita, PPP adjusted | $21k | $68k |
Financial system and Human development
| Stat | Libya | Norway |
|---|---|---|
| Income Tax Rate | 10% | 47.8% |
| Corporate Tax Rate | N/A | 22% |
| Inflation, consumer prices | 23.1% | 2.8% |
| Inflation, GDP deflator | 15.8% | 5.8% |
| Unemployment | 17.3% | 3.9% |
| Economic Freedom Index | 47 | 73.4 |
| Personal Freedom Index | 5.17 | 9.55 |
| Human Freedom Index | 4.98 | 8.61 |
| Property Rights Index | 30.1 | 84.3 |
| Judical Effectiveness Index | 20.8 | 82.8 |
| Business Freedom Index | 40.7 | 86.1 |
| Fiscal Health Index | N/A | 97.3 |
| Labor Freedom Index | 53.9 | 57.4 |
| Investment Freedom Index | 5 | 75 |
| Financial Freedom Index | N/A | 60 |
| Trade Freedom Index | N/A | 83.8 |
| Monetary Freedom Index | 53.6 | 74.8 |
| Government Spending Index | 0 | 25.6 |
| Tax Burden Index | N/A | 57.7 |
| Government Integrity Index | 18.9 | 95.6 |
| Corruption Perceptions Index | 17 | 84 |
| Life expectancy at birth, years | 72.5 | 82.5 |
| Suicide mortality rate, per 100,000 people | 5.2 | 12.2 |
| Mortality caused by road traffic injury, per 100,000 people | 26.1 | 2.7 |
| Intentional homicides, per 100,000 people | 2.5 | 0.5 |
| International tourism, number of arrivals | 142k | 5.7M |
Government debt & reserves
| Stat | Libya | Norway |
|---|---|---|
| Central government debt, % of GDP | 4.9% | 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 | 35% | 16.9% |
| Gross savings, % of GDP | 67.3% | 35.9% |
| Gross capital formation, % of GDP | 29.8% | 27.3% |
| Total reserves including gold | $85.3B | $63.1B |
| Foreign direct investment net inflows | $0 | -$17.4B |
Exports, imports and economic structure
| Stat | Libya | Norway |
|---|---|---|
| Exports of goods and services, % of GDP | 62.2% | 38.4% |
| Imports of goods and services, % of GDP | 40.1% | 32.6% |
| Current account balance (balance of payments) | -$4.7B | $31.4B |
| Revenue excluding grants, % of GDP | N/A | 47.4% |
| Grants excluding technical cooperation, BoP | $268.9M | N/A |
| Personal remittances received | $16M | $644.3M |
| Industry including construction value added, % of GDP | 77.5% | 32% |
| Agriculture, forestry and fishing value added, % of GDP | 1.8% | 1.9% |
| Charges for the use of intellectual property, payments BoP | N/A | $768.9M |
| Charges for the use of intellectual property, receipts BoP | $10M | $515.2M |
| Expense, % of GDP | N/A | 37.7% |
| Government Expenditure, % of GDP | 105.8% | 49.8% |
