Mongolia vs Norway: Economic Indicators Comparison

Norway with a GDP of $434.2B ranked the 30th largest economy in the world, while Mongolia ranked 134th with $13.1B. By GDP 5-years average growth and GDP per capita, Norway and Mongolia ranked 142nd vs 39th and 5th vs 118th, respectively.

Gross Domestic Product & Income

StatMongoliaNorway
GDP$13.1B$434.2B
GDP growth, 1 year6.9%1.4%
GDP growth, 5-years average4.7%1.7%
Population3.1M5.4M
GDP per capita$4.1k$82k
GDP per capita growth5.32%0.58%
Purchasing Power Parity conversion factor738.4810.14
Price level ratio of PPP conversion factor GDP to market exchange rate0.31.25
GDP per capita, PPP adjusted$13k$74k
GNI, Atlas method$11.6B$428.4B
GNI per capita$3.7k$81k
GNI, PPP adjusted$39.6B$363B
GNI per capita, PPP adjusted$13k$68k

Financial system and Human development

StatMongoliaNorway
Income Tax Rate10%47.8%
Corporate Tax Rate25%22%
Inflation, consumer prices7.7%2.8%
Inflation, GDP deflator8.1%5.8%
Unemployment6.3%3.9%
Economic Freedom Index55.973.4
Personal Freedom Index7.639.55
Human Freedom Index7.178.61
Property Rights Index50.384.3
Judical Effectiveness Index2382.8
Business Freedom Index63.686.1
Fiscal Health Index9.397.3
Labor Freedom Index75.757.4
Investment Freedom Index5075
Financial Freedom Index6060
Trade Freedom Index7483.8
Monetary Freedom Index74.274.8
Government Spending Index66.625.6
Tax Burden Index87.457.7
Government Integrity Index36.995.6
Corruption Perceptions Index3784
Life expectancy at birth, years69.582.5
Suicide mortality rate, per 100,000 people1312.2
Mortality caused by road traffic injury, per 100,000 people16.52.7
Intentional homicides, per 100,000 people6.20.5
International tourism, number of arrivals529k5.7M

Government debt & reserves

StatMongoliaNorway
Central government debt, % of GDP73.3%36.8%
External debt stocks, % of GNI253.9%N/A
External debt stocks$29.4BN/A
Short-term debt, % of total reserves87.3%N/A
Total debt service, % of exports and primary income101.6%N/A
Adjusted net savings including particulate emission damage, % of GNI-10.3%16.9%
Gross savings, % of GDP30.3%35.9%
Gross capital formation, % of GDP43.1%27.3%
Total reserves including gold$3.5B$63.1B
Foreign direct investment net inflows$2B-$17.4B

Exports, imports and economic structure

StatMongoliaNorway
Exports of goods and services, % of GDP58.7%38.4%
Imports of goods and services, % of GDP64.2%32.6%
Current account balance (balance of payments)-$1.9B$31.4B
Revenue excluding grants, % of GDP24.9%47.4%
Grants excluding technical cooperation, BoP$115.6MN/A
Personal remittances received$440.6M$644.3M
Industry including construction value added, % of GDP38.7%32%
Agriculture, forestry and fishing value added, % of GDP10.8%1.9%
Charges for the use of intellectual property, payments BoP$16.1M$768.9M
Charges for the use of intellectual property, receipts BoP$1.4M$515.2M
Expense, % of GDP23.8%37.7%
Government Expenditure, % of GDP33.4%49.8%

Compare with countries close by GDP per capita

Mongolia vs

CountryGDP
per capita
Population
Iraq
$5.8k
38.3M
Paraguay
$5.8k
6.81M
Iran
$5.6k
80M
Jamaica
$5.4k
2.89M
Albania
$5.3k
3.02M
Guyana
$5k
778k
Belize
$4.9k
375k
Azerbaijan
$4.7k
10M
Georgia
$4.7k
3.72M
Guatemala
$4.5k
17.3M
Tonga
$4.4k
108k
Jordan
$4.2k
10.4M
Armenia
$4.2k
2.93M
Samoa
$4.2k
196k
Eswatini
$4.1k
1.37M
Algeria
$4.1k
41.3M
Sri Lanka
$4.1k
21.4M
El Salvador
$4.1k
6.42M
Indonesia
$3.9k
264M
Marshall Islands
$3.8k
53.1k
Tuvalu
$3.7k
11.2k
Cape Verde
$3.6k
546k
Bolivia
$3.5k
11.1M
Tunisia
$3.4k
11.6M
Angola
$3.4k
29.8M
Bhutan
$3.2k
808k
Morocco
$3.2k
36M
Moldova
$3.2k
2.55M
Palestine
$3.2k
4.68M
Vanuatu
$3.1k
276k

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