The Marshall Islands vs Norway: Economic Indicators Comparison
Norway with a GDP of $434.2B ranked the 30th largest economy in the world, while the Marshall Islands ranked 193rd with $221.3M. By GDP per capita, Norway and the Marshall Islands ranked 5th vs 123rd, respectively.
Gross Domestic Product & Income
| Stat |  Marshall Islands |  Norway |
|---|---|---|
| GDP | $221.3M | $434.2B |
| GDP growth, 1 year | 3.62% | 1.4% |
| GDP growth, 5-years average | N/A | 1.7% |
| Population | 53k | 5.4M |
| GDP per capita | $3.8k | $82k |
| GDP per capita growth | 2.99% | 0.58% |
| Purchasing Power Parity conversion factor | 0.95 | 10.14 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.95 | 1.25 |
| GDP per capita, PPP adjusted | $4k | $74k |
| GNI, Atlas method | $283.7M | $428.4B |
| GNI per capita | $4.9k | $81k |
| GNI, PPP adjusted | $297.6M | $363B |
| GNI per capita, PPP adjusted | $5.1k | $68k |
Financial system and Human development
| Stat | Marshall Islands | Norway |
|---|---|---|
| Income Tax Rate | N/A | 47.8% |
| Corporate Tax Rate | N/A | 22% |
| Inflation, consumer prices | N/A | 2.8% |
| Inflation, GDP deflator | 0.3% | 5.8% |
| Unemployment | 4.7% | 3.9% |
| Economic Freedom Index | 58 | 73.4 |
| Personal Freedom Index | 6.2 | 9.55 |
| Human Freedom Index | 6.2 | 8.61 |
| Property Rights Index | N/A | 84.3 |
| Judical Effectiveness Index | N/A | 82.8 |
| Business Freedom Index | N/A | 86.1 |
| Fiscal Health Index | N/A | 97.3 |
| Labor Freedom Index | N/A | 57.4 |
| Investment Freedom Index | N/A | 75 |
| Financial Freedom Index | N/A | 60 |
| Trade Freedom Index | N/A | 83.8 |
| Monetary Freedom Index | N/A | 74.8 |
| Government Spending Index | N/A | 25.6 |
| Tax Burden Index | N/A | 57.7 |
| Government Integrity Index | N/A | 95.6 |
| Corruption Perceptions Index | 64 | 84 |
| Life expectancy at birth, years | 65.2 | 82.5 |
| Suicide mortality rate, per 100,000 people | 1 | 12.2 |
| Mortality caused by road traffic injury, per 100,000 people | 5.7 | 2.7 |
| Intentional homicides, per 100,000 people | 4 | 0.5 |
| International tourism, number of arrivals | 6.8k | 5.7M |
Government debt & reserves
| Stat | Marshall Islands | Norway |
|---|---|---|
| Central government debt, % of GDP | 48.9% | 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 | N/A | 16.9% |
| Gross savings, % of GDP | 17.2% | 35.9% |
| Gross capital formation, % of GDP | 23.4% | 27.3% |
| Total reserves including gold | N/A | $63.1B |
| Foreign direct investment net inflows | $9.8M | -$17.4B |
Exports, imports and economic structure
| Stat | Marshall Islands | Norway |
|---|---|---|
| Exports of goods and services, % of GDP | 40.4% | 38.4% |
| Imports of goods and services, % of GDP | 85.3% | 32.6% |
| Current account balance (balance of payments) | $53M | $31.4B |
| Revenue excluding grants, % of GDP | 32.2% | 47.4% |
| Grants excluding technical cooperation, BoP | $50.6M | N/A |
| Personal remittances received | $31.5M | $644.3M |
| Industry including construction value added, % of GDP | 12.8% | 32% |
| Agriculture, forestry and fishing value added, % of GDP | 15.2% | 1.9% |
| Charges for the use of intellectual property, payments BoP | N/A | $768.9M |
| Charges for the use of intellectual property, receipts BoP | N/A | $515.2M |
| Expense, % of GDP | 57.9% | 37.7% |
| Government Expenditure, % of GDP | N/A | 49.8% |
