Luxembourg vs Norway: Economic Indicators Comparison

Norway with a GDP of $434.2B ranked the 30th largest economy in the world, while Luxembourg ranked 72nd with $70.9B. By GDP 5-years average growth and GDP per capita, Norway and Luxembourg ranked 142nd vs 88th and 5th vs 3rd, respectively.

Gross Domestic Product & Income

StatLuxembourgNorway
GDP$70.9B$434.2B
GDP growth, 1 year3%1.4%
GDP growth, 5-years average3%1.7%
Population626k5.4M
GDP per capita$117k$82k
GDP per capita growth1.18%0.58%
Purchasing Power Parity conversion factor0.8710.14
Price level ratio of PPP conversion factor GDP to market exchange rate1.031.25
GDP per capita, PPP adjusted$107k$74k
GNI, Atlas method$43.1B$428.4B
GNI per capita$71k$81k
GNI, PPP adjusted$43.9B$363B
GNI per capita, PPP adjusted$72k$68k

Financial system and Human development

StatLuxembourgNorway
Income Tax Rate42%47.8%
Corporate Tax Rate18%22%
Inflation, consumer prices2%2.8%
Inflation, GDP deflator2.5%5.8%
Unemployment5.5%3.9%
Economic Freedom Index75.873.4
Personal Freedom Index9.19.55
Human Freedom Index8.468.61
Property Rights Index86.484.3
Judical Effectiveness Index74.482.8
Business Freedom Index66.886.1
Fiscal Health Index9997.3
Labor Freedom Index45.357.4
Investment Freedom Index9575
Financial Freedom Index8060
Trade Freedom Index86.483.8
Monetary Freedom Index76.474.8
Government Spending Index45.425.6
Tax Burden Index64.157.7
Government Integrity Index90.395.6
Corruption Perceptions Index8184
Life expectancy at birth, years82.782.5
Suicide mortality rate, per 100,000 people13.512.2
Mortality caused by road traffic injury, per 100,000 people6.32.7
Intentional homicides, per 100,000 people0.30.5
International tourism, number of arrivals1M5.7M

Government debt & reserves

StatLuxembourgNorway
Central government debt, % of GDP21.8%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 GNI20.9%16.9%
Gross savings, % of GDP17.4%35.9%
Gross capital formation, % of GDP17.6%27.3%
Total reserves including gold$938.9M$63.1B
Foreign direct investment net inflows-$5.6B-$17.4B

Exports, imports and economic structure

StatLuxembourgNorway
Exports of goods and services, % of GDP211.6%38.4%
Imports of goods and services, % of GDP175.5%32.6%
Current account balance (balance of payments)$3.4B$31.4B
Revenue excluding grants, % of GDP40.9%47.4%
Grants excluding technical cooperation, BoPN/AN/A
Personal remittances received$2.1B$644.3M
Industry including construction value added, % of GDP11.8%32%
Agriculture, forestry and fishing value added, % of GDP0.2%1.9%
Charges for the use of intellectual property, payments BoP$5B$768.9M
Charges for the use of intellectual property, receipts BoP$2.4B$515.2M
Expense, % of GDP38.7%37.7%
Government Expenditure, % of GDP42.7%49.8%

Compare with countries close by GDP per capita

Luxembourg vs

CountryGDP
per capita
Population
Monaco
$186k
38.7k
Liechtenstein
$165k
37.9k
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
Brunei
$32k
429k

Norway vs

CountryGDP
per capita
Population
Monaco
$186k
38.7k
Liechtenstein
$165k
37.9k
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
Brunei
$32k
429k