Libya vs Norway: Economic Indicators Comparison

Norway with a GDP of $434.2B ranked the 30th largest economy in the world, while Libya ranked 86th with $48.4B. By GDP 5-years average growth and GDP per capita, Norway and Libya ranked 142nd vs 144th and 5th vs 91st, respectively.

Gross Domestic Product & Income

StatLibyaNorway
GDP$48.4B$434.2B
GDP growth, 1 year17.9%1.4%
GDP growth, 5-years average1.7%1.7%
Population6.7M5.4M
GDP per capita$7.2k$82k
GDP per capita growth6.37%0.58%
Purchasing Power Parity conversion factor0.4810.14
Price level ratio of PPP conversion factor GDP to market exchange rate0.351.25
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

StatLibyaNorway
Income Tax Rate10%47.8%
Corporate Tax RateN/A22%
Inflation, consumer prices23.1%2.8%
Inflation, GDP deflator15.8%5.8%
Unemployment17.3%3.9%
Economic Freedom Index4773.4
Personal Freedom Index5.179.55
Human Freedom Index4.988.61
Property Rights Index30.184.3
Judical Effectiveness Index20.882.8
Business Freedom Index40.786.1
Fiscal Health IndexN/A97.3
Labor Freedom Index53.957.4
Investment Freedom Index575
Financial Freedom IndexN/A60
Trade Freedom IndexN/A83.8
Monetary Freedom Index53.674.8
Government Spending Index025.6
Tax Burden IndexN/A57.7
Government Integrity Index18.995.6
Corruption Perceptions Index1784
Life expectancy at birth, years72.582.5
Suicide mortality rate, per 100,000 people5.212.2
Mortality caused by road traffic injury, per 100,000 people26.12.7
Intentional homicides, per 100,000 people2.50.5
International tourism, number of arrivals142k5.7M

Government debt & reserves

StatLibyaNorway
Central government debt, % of GDP4.9%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 GNI35%16.9%
Gross savings, % of GDP67.3%35.9%
Gross capital formation, % of GDP29.8%27.3%
Total reserves including gold$85.3B$63.1B
Foreign direct investment net inflows$0-$17.4B

Exports, imports and economic structure

StatLibyaNorway
Exports of goods and services, % of GDP62.2%38.4%
Imports of goods and services, % of GDP40.1%32.6%
Current account balance (balance of payments)-$4.7B$31.4B
Revenue excluding grants, % of GDPN/A47.4%
Grants excluding technical cooperation, BoP$268.9MN/A
Personal remittances received$16M$644.3M
Industry including construction value added, % of GDP77.5%32%
Agriculture, forestry and fishing value added, % of GDP1.8%1.9%
Charges for the use of intellectual property, payments BoPN/A$768.9M
Charges for the use of intellectual property, receipts BoP$10M$515.2M
Expense, % of GDPN/A37.7%
Government Expenditure, % of GDP105.8%49.8%

Compare with countries close by GDP per capita

Libya vs

CountryGDP
per capita
Population
China
$9.8k
1.41B
Mexico
$9.7k
131M
Turkey
$9.4k
82M
Bulgaria
$9.3k
7M
Brazil
$8.9k
210M
Montenegro
$8.8k
622k
Cuba
$8.8k
11.5M
Lebanon
$8.3k
6.1M
Botswana
$8.3k
2.29M
Dominican Republic
$8.1k
10.4M
Gabon
$8k
2.03M
Dominica
$7.7k
73.9k
Saint Vincent
$7.4k
110k
Thailand
$7.3k
65.9M
Serbia
$7.2k
7.02M
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
Iraq
$5.8k
38.3M
Paraguay
$5.8k
6.81M
Iran
$5.6k
80M
Jamaica
$5.4k
2.89M

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