Norway vs the United Kingdom: Economic Indicators Comparison

The United Kingdom with a GDP of $2.9T ranked the 5th largest economy in the world, while Norway ranked 30th with $434.2B. By GDP 5-years average growth and GDP per capita, the United Kingdom and Norway ranked 126th vs 142nd and 23rd vs 5th, respectively.

Gross Domestic Product & Income

StatNorwayUnited Kingdom
GDP$434.2B$2.9T
GDP growth, 1 year1.4%1.4%
GDP growth, 5-years average1.7%2.1%
Population5.4M66M
GDP per capita$82k$43k
GDP per capita growth0.58%0.73%
Purchasing Power Parity conversion factor10.140.7
Price level ratio of PPP conversion factor GDP to market exchange rate1.250.93
GDP per capita, PPP adjusted$74k$46k
GNI, Atlas method$428.4B$2.8T
GNI per capita$81k$42k
GNI, PPP adjusted$363B$3T
GNI per capita, PPP adjusted$68k$45k

Financial system and Human development

StatNorwayUnited Kingdom
Income Tax Rate47.8%45%
Corporate Tax Rate22%20%
Inflation, consumer prices2.8%2.5%
Inflation, GDP deflator5.8%1.9%
Unemployment3.9%4%
Economic Freedom Index73.479.3
Personal Freedom Index9.559.08
Human Freedom Index8.618.55
Property Rights Index84.392.2
Judical Effectiveness Index82.882.7
Business Freedom Index86.194.7
Fiscal Health Index97.378.1
Labor Freedom Index57.473.1
Investment Freedom Index7580
Financial Freedom Index6080
Trade Freedom Index83.886.4
Monetary Freedom Index74.880.3
Government Spending Index25.649.5
Tax Burden Index57.764.7
Government Integrity Index95.689.9
Corruption Perceptions Index8480
Life expectancy at birth, years82.581.2
Suicide mortality rate, per 100,000 people12.28.9
Mortality caused by road traffic injury, per 100,000 people2.73.1
Intentional homicides, per 100,000 people0.51.2
International tourism, number of arrivals5.7M36.3M

Government debt & reserves

StatNorwayUnited Kingdom
Central government debt, % of GDP36.8%86.9%
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%5.5%
Gross savings, % of GDP35.9%13.4%
Gross capital formation, % of GDP27.3%17.3%
Total reserves including gold$63.1B$172.7B
Foreign direct investment net inflows-$17.4B$35.1B

Exports, imports and economic structure

StatNorwayUnited Kingdom
Exports of goods and services, % of GDP38.4%30%
Imports of goods and services, % of GDP32.6%31.8%
Current account balance (balance of payments)$31.4B-$123.1B
Revenue excluding grants, % of GDP47.4%35.3%
Grants excluding technical cooperation, BoPN/AN/A
Personal remittances received$644.3M$4.4B
Industry including construction value added, % of GDP32%17.5%
Agriculture, forestry and fishing value added, % of GDP1.9%0.6%
Charges for the use of intellectual property, payments BoP$768.9M$13.5B
Charges for the use of intellectual property, receipts BoP$515.2M$21.7B
Expense, % of GDP37.7%36%
Government Expenditure, % of GDP49.8%41%

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
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
Brunei
$32k
429k

United Kingdom vs

CountryGDP
per capita
Population
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
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
Brunei
$32k
429k
South Korea
$31k
51.5M
Spain
$30k
46.7M
Malta
$30k
465k
Cyprus
$28k
1.14M
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M