Norway vs Panama: Economic Indicators Comparison

Norway with a GDP of $434.2B ranked the 30th largest economy in the world, while Panama ranked 75th with $65.1B. By GDP 5-years average growth and GDP per capita, Norway and Panama ranked 142nd vs 33rd and 5th vs 61st, respectively.

Gross Domestic Product & Income

Stat	Norway	Panama
GDP	$434.2B	$65.1B
GDP growth, 1 year	1.4%	3.9%
GDP growth, 5-years average	1.7%	5%
Population	5.4M	4.1M
GDP per capita	$82k	$16k
GDP per capita growth	0.58%	1.94%
Purchasing Power Parity conversion factor	10.14	0.61
Price level ratio of PPP conversion factor GDP to market exchange rate	1.25	0.61
GDP per capita, PPP adjusted	$74k	$26k
GNI, Atlas method	$428.4B	$60B
GNI per capita	$81k	$14k
GNI, PPP adjusted	$363B	$98.4B
GNI per capita, PPP adjusted	$68k	$24k

Financial system and Human development

Stat	Norway	Panama
Income Tax Rate	47.8%	25%
Corporate Tax Rate	22%	25%
Inflation, consumer prices	2.8%	0.8%
Inflation, GDP deflator	5.8%	0.7%
Unemployment	3.9%	3.9%
Economic Freedom Index	73.4	67.2
Personal Freedom Index	9.55	7.73
Human Freedom Index	8.61	7.53
Property Rights Index	84.3	58.8
Judical Effectiveness Index	82.8	30
Business Freedom Index	86.1	70.8
Fiscal Health Index	97.3	91.2
Labor Freedom Index	57.4	43.3
Investment Freedom Index	75	75
Financial Freedom Index	60	70
Trade Freedom Index	83.8	79.2
Monetary Freedom Index	74.8	79.4
Government Spending Index	25.6	85.7
Tax Burden Index	57.7	85.3
Government Integrity Index	95.6	37.2
Corruption Perceptions Index	84	37
Life expectancy at birth, years	82.5	78.1
Suicide mortality rate, per 100,000 people	12.2	4.3
Mortality caused by road traffic injury, per 100,000 people	2.7	14.3
Intentional homicides, per 100,000 people	0.5	9.7
International tourism, number of arrivals	5.7M	1.8M

Government debt & reserves

Stat	Norway	Panama
Central government debt, % of GDP	36.8%	39.4%
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	16.9%	25.3%
Gross savings, % of GDP	35.9%	29.1%
Gross capital formation, % of GDP	27.3%	41.7%
Total reserves including gold	$63.1B	$2.1B
Foreign direct investment net inflows	-$17.4B	$5.9B

Exports, imports and economic structure

Stat	Norway	Panama
Exports of goods and services, % of GDP	38.4%	42.3%
Imports of goods and services, % of GDP	32.6%	45.3%
Current account balance (balance of payments)	$31.4B	-$6.8B
Revenue excluding grants, % of GDP	47.4%	N/A
Grants excluding technical cooperation, BoP	N/A	$22.3M
Personal remittances received	$644.3M	$537.9M
Industry including construction value added, % of GDP	32%	29.2%
Agriculture, forestry and fishing value added, % of GDP	1.9%	2.2%
Charges for the use of intellectual property, payments BoP	$768.9M	$39.4M
Charges for the use of intellectual property, receipts BoP	$515.2M	$21.7M
Expense, % of GDP	37.7%	N/A
Government Expenditure, % of GDP	49.8%	21.8%