Norway vs Trinidad and Tobago: Economic Indicators Comparison

Norway with a GDP of $434.2B ranked the 30th largest economy in the world, while Trinidad and Tobago ranked 113th with $23.8B. By GDP 5-years average growth and GDP per capita, Norway and Trinidad and Tobago ranked 142nd vs 175th and 5th vs 53rd, respectively.

Gross Domestic Product & Income

StatNorwayTrinidad and Tobago
GDP$434.2B$23.8B
GDP growth, 1 year1.4%0.3%
GDP growth, 5-years average1.7%-1.5%
Population5.4M1.4M
GDP per capita$82k$17k
GDP per capita growth0.58%-0.66%
Purchasing Power Parity conversion factor10.143.62
Price level ratio of PPP conversion factor GDP to market exchange rate1.250.54
GDP per capita, PPP adjusted$74k$32k
GNI, Atlas method$428.4B$22.2B
GNI per capita$81k$16k
GNI, PPP adjusted$363B$43.1B
GNI per capita, PPP adjusted$68k$31k

Financial system and Human development

StatNorwayTrinidad and Tobago
Income Tax Rate47.8%25%
Corporate Tax Rate22%25%
Inflation, consumer prices2.8%1.1%
Inflation, GDP deflator5.8%6.1%
Unemployment3.9%2.8%
Economic Freedom Index73.458.3
Personal Freedom Index9.556.88
Human Freedom Index8.616.81
Property Rights Index84.356.6
Judical Effectiveness Index82.842.1
Business Freedom Index86.167.3
Fiscal Health Index97.315.9
Labor Freedom Index57.476
Investment Freedom Index7560
Financial Freedom Index6050
Trade Freedom Index83.867.8
Monetary Freedom Index74.877.4
Government Spending Index25.666.5
Tax Burden Index57.782.6
Government Integrity Index95.637.4
Corruption Perceptions Index8441
Life expectancy at birth, years82.573.2
Suicide mortality rate, per 100,000 people12.213.6
Mortality caused by road traffic injury, per 100,000 people2.712.1
Intentional homicides, per 100,000 people0.530.9
International tourism, number of arrivals5.7M375k

Government debt & reserves

StatNorwayTrinidad and Tobago
Central government debt, % of GDP36.8%45.3%
External debt stocks, % of GNIN/AN/A
External debt stocksN/AN/A
Short-term debt, % of total reservesN/AN/A
Total debt service, % of exports and primary incomeN/AN/A
Adjusted net savings including particulate emission damage, % of GNI16.9%N/A
Gross savings, % of GDP35.9%N/A
Gross capital formation, % of GDP27.3%N/A
Total reserves including gold$63.1B$8.1B
Foreign direct investment net inflows-$17.4B-$602.5M

Exports, imports and economic structure

StatNorwayTrinidad and Tobago
Exports of goods and services, % of GDP38.4%N/A
Imports of goods and services, % of GDP32.6%N/A
Current account balance (balance of payments)$31.4B$1.2B
Revenue excluding grants, % of GDP47.4%38.4%
Grants excluding technical cooperation, BoPN/A$2.4M
Personal remittances received$644.3M$138.7M
Industry including construction value added, % of GDP32%42%
Agriculture, forestry and fishing value added, % of GDP1.9%1%
Charges for the use of intellectual property, payments BoP$768.9M$63.9M
Charges for the use of intellectual property, receipts BoP$515.2M$882k
Expense, % of GDP37.7%35.9%
Government Expenditure, % of GDP49.8%33.4%

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

Trinidad and Tobago vs

CountryGDP
per capita
Population
Taiwan
$25k
23.6M
Bahrain
$24k
1.49M
Portugal
$23k
10.6M
Saudi Arabia
$23k
33M
Estonia
$23k
1.32M
Czech Republic
$23k
10.7M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.4M
Saint Kitts and Nevis
$19k
55.3k
Lithuania
$19k
2.79M
Barbados
$18k
286k
Latvia
$18k
1.91M
Uruguay
$17k
3.46M
Antigua and Barbuda
$17k
102k
Seychelles
$16k
95.8k
Oman
$16k
4.83M
Hungary
$16k
9.94M
Venezuela
$16k
28.5M
Chile
$16k
18.1M
Palau
$16k
21.7k
Panama
$16k
4.1M
Poland
$15k
38.4M
Croatia
$15k
4.11M
Romania
$12k
19.6M
Costa Rica
$12k
4.91M
Argentina
$12k
44.9M
Malaysia
$11k
31.6M
Russia
$11k
147M