Norway vs South Africa: Economic Indicators Comparison

Norway with a GDP of $434.2B ranked the 30th largest economy in the world, while South Africa ranked 35th with $368.3B. By GDP 5-years average growth and GDP per capita, Norway and South Africa ranked 142nd vs 151st and 5th vs 95th, respectively.

Gross Domestic Product & Income

StatNorwaySouth Africa
GDP$434.2B$368.3B
GDP growth, 1 year1.4%0.8%
GDP growth, 5-years average1.7%1.1%
Population5.4M57.7M
GDP per capita$82k$6.4k
GDP per capita growth0.58%-0.57%
Purchasing Power Parity conversion factor10.146.16
Price level ratio of PPP conversion factor GDP to market exchange rate1.250.47
GDP per capita, PPP adjusted$74k$14k
GNI, Atlas method$428.4B$332.3B
GNI per capita$81k$5.8k
GNI, PPP adjusted$363B$765.8B
GNI per capita, PPP adjusted$68k$13k

Financial system and Human development

StatNorwaySouth Africa
Income Tax Rate47.8%45%
Corporate Tax Rate22%28%
Inflation, consumer prices2.8%4.6%
Inflation, GDP deflator5.8%3.9%
Unemployment3.9%27%
Economic Freedom Index73.458.8
Personal Freedom Index9.556.92
Human Freedom Index8.616.78
Property Rights Index84.358.4
Judical Effectiveness Index82.838
Business Freedom Index86.162
Fiscal Health Index97.364
Labor Freedom Index57.458.8
Investment Freedom Index7545
Financial Freedom Index6050
Trade Freedom Index83.875.8
Monetary Freedom Index74.875.9
Government Spending Index25.667.4
Tax Burden Index57.763.7
Government Integrity Index95.646.6
Corruption Perceptions Index8443
Life expectancy at birth, years82.563.5
Suicide mortality rate, per 100,000 people12.211.6
Mortality caused by road traffic injury, per 100,000 people2.725.9
Intentional homicides, per 100,000 people0.535.9
International tourism, number of arrivals5.7M10.5M

Government debt & reserves

StatNorwaySouth Africa
Central government debt, % of GDP36.8%56.7%
External debt stocks, % of GNIN/A50.6%
External debt stocksN/A$179.3B
Short-term debt, % of total reservesN/A70.9%
Total debt service, % of exports and primary incomeN/A19.9%
Adjusted net savings including particulate emission damage, % of GNI16.9%0.6%
Gross savings, % of GDP35.9%14.9%
Gross capital formation, % of GDP27.3%17.9%
Total reserves including gold$63.1B$51.6B
Foreign direct investment net inflows-$17.4B$5.5B

Exports, imports and economic structure

StatNorwaySouth Africa
Exports of goods and services, % of GDP38.4%29.9%
Imports of goods and services, % of GDP32.6%29.6%
Current account balance (balance of payments)$31.4B-$13.4B
Revenue excluding grants, % of GDP47.4%30.9%
Grants excluding technical cooperation, BoPN/A$817.9M
Personal remittances received$644.3M$929M
Industry including construction value added, % of GDP32%25.9%
Agriculture, forestry and fishing value added, % of GDP1.9%2.2%
Charges for the use of intellectual property, payments BoP$768.9M$1.8B
Charges for the use of intellectual property, receipts BoP$515.2M$120.7M
Expense, % of GDP37.7%34.4%
Government Expenditure, % of GDP49.8%33%

Compare with countries close by GDP per capita

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

South Africa vs

CountryGDP
per capita
Population
Brazil
$8.9k
210M
Montenegro
$8.8k
622k
Cuba
$8.8k
11.5M
Lebanon
$8.3k
6.1M
Botswana
$8.3k
2.29M
Dominican Republic
$8.1k
10.4M
Gabon
$8k
2.03M
Dominica
$7.7k
73.9k
Saint Vincent
$7.4k
110k
Thailand
$7.3k
65.9M
Serbia
$7.2k
7.02M
Libya
$7.2k
6.68M
Turkmenistan
$7k
5.85M
Peru
$6.9k
29.4M
Colombia
$6.7k
49.1M
Ecuador
$6.3k
16.6M
Belarus
$6.3k
9.41M
Fiji
$6.3k
906k
Suriname
$6.2k
563k
North Macedonia
$6.1k
2.08M
Bosnia and Herzegovina
$6.1k
3.51M
Namibia
$5.9k
2.53M
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