Madagascar vs Norway: Economic Indicators Comparison
Norway with a GDP of $434.2B ranked the 30th largest economy in the world, while Madagascar ranked 130th with $13.9B. By GDP 5-years average growth and GDP per capita, Norway and Madagascar ranked 142nd vs 55th and 5th vs 190th, respectively.
Gross Domestic Product & Income
| Stat |  Madagascar |  Norway |
|---|---|---|
| GDP | $13.9B | $434.2B |
| GDP growth, 1 year | 5.2% | 1.4% |
| GDP growth, 5-years average | 4% | 1.7% |
| Population | 25.6M | 5.4M |
| GDP per capita | $528 | $82k |
| GDP per capita growth | 1.81% | 0.58% |
| Purchasing Power Parity conversion factor | 929.9 | 10.14 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.28 | 1.25 |
| GDP per capita, PPP adjusted | $1.6k | $74k |
| GNI, Atlas method | $13.3B | $428.4B |
| GNI per capita | $510 | $81k |
| GNI, PPP adjusted | $48.2B | $363B |
| GNI per capita, PPP adjusted | $1.8k | $68k |
Financial system and Human development
| Stat | Madagascar | Norway |
|---|---|---|
| Income Tax Rate | 20% | 47.8% |
| Corporate Tax Rate | 20% | 22% |
| Inflation, consumer prices | 7.3% | 2.8% |
| Inflation, GDP deflator | 7.6% | 5.8% |
| Unemployment | 1.7% | 3.9% |
| Economic Freedom Index | 60.5 | 73.4 |
| Personal Freedom Index | 7.29 | 9.55 |
| Human Freedom Index | 6.69 | 8.61 |
| Property Rights Index | 45.6 | 84.3 |
| Judical Effectiveness Index | 39.6 | 82.8 |
| Business Freedom Index | 47.3 | 86.1 |
| Fiscal Health Index | 90.6 | 97.3 |
| Labor Freedom Index | 44.6 | 57.4 |
| Investment Freedom Index | 55 | 75 |
| Financial Freedom Index | 50 | 60 |
| Trade Freedom Index | 73.6 | 83.8 |
| Monetary Freedom Index | 72.7 | 74.8 |
| Government Spending Index | 91.5 | 25.6 |
| Tax Burden Index | 90.7 | 57.7 |
| Government Integrity Index | 25 | 95.6 |
| Corruption Perceptions Index | 25 | 84 |
| Life expectancy at birth, years | 66.3 | 82.5 |
| Suicide mortality rate, per 100,000 people | 3.9 | 12.2 |
| Mortality caused by road traffic injury, per 100,000 people | 28.6 | 2.7 |
| Intentional homicides, per 100,000 people | 7.7 | 0.5 |
| International tourism, number of arrivals | 291k | 5.7M |
Government debt & reserves
| Stat | Madagascar | Norway |
|---|---|---|
| Central government debt, % of GDP | 39.7% | 36.8% |
| External debt stocks, % of GNI | 31.8% | N/A |
| External debt stocks | $3.7B | N/A |
| Short-term debt, % of total reserves | 15.6% | N/A |
| Total debt service, % of exports and primary income | 2.7% | N/A |
| Adjusted net savings including particulate emission damage, % of GNI | 7.7% | 16.9% |
| Gross savings, % of GDP | 18.6% | 35.9% |
| Gross capital formation, % of GDP | 19.6% | 27.3% |
| Total reserves including gold | $1.7B | $63.1B |
| Foreign direct investment net inflows | $612M | -$17.4B |
Exports, imports and economic structure
| Stat | Madagascar | Norway |
|---|---|---|
| Exports of goods and services, % of GDP | 28.7% | 38.4% |
| Imports of goods and services, % of GDP | 33.8% | 32.6% |
| Current account balance (balance of payments) | $80.1M | $31.4B |
| Revenue excluding grants, % of GDP | 11.4% | 47.4% |
| Grants excluding technical cooperation, BoP | $373.7M | N/A |
| Personal remittances received | $425.5M | $644.3M |
| Industry including construction value added, % of GDP | 23.1% | 32% |
| Agriculture, forestry and fishing value added, % of GDP | 23.8% | 1.9% |
| Charges for the use of intellectual property, payments BoP | $17.1M | $768.9M |
| Charges for the use of intellectual property, receipts BoP | $4.5M | $515.2M |
| Expense, % of GDP | 9.8% | 37.7% |
| Government Expenditure, % of GDP | 16.8% | 49.8% |
