Norway vs Venezuela: Economic Indicators Comparison
Gross Domestic Product & Income
| Stat |  Norway |  Venezuela |
|---|---|---|
| GDP | $434.2B | $482.4B |
| GDP growth, 1 year | 1.4% | -18% |
| GDP growth, 5-years average | 1.7% | -12.2% |
| Population | 5.4M | 28.5M |
| GDP per capita | $82k | $16k |
| GDP per capita growth | 0.58% | -18.17% |
| Purchasing Power Parity conversion factor | 10.14 | 5.57 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 1.25 | 0.89 |
| GDP per capita, PPP adjusted | $74k | $8.8k |
| GNI, Atlas method | $428.4B | $392.9B |
| GNI per capita | $81k | $13k |
| GNI, PPP adjusted | $363B | $352.8B |
| GNI per capita, PPP adjusted | $68k | $12k |
Financial system and Human development
| Stat | Norway | Venezuela |
|---|---|---|
| Income Tax Rate | 47.8% | 34% |
| Corporate Tax Rate | 22% | 34% |
| Inflation, consumer prices | 2.8% | 929789.5% |
| Inflation, GDP deflator | 5.8% | 748.1% |
| Unemployment | 3.9% | 8.4% |
| Economic Freedom Index | 73.4 | 25.2 |
| Personal Freedom Index | 9.55 | 6.33 |
| Human Freedom Index | 8.61 | 5.27 |
| Property Rights Index | 84.3 | 10.1 |
| Judical Effectiveness Index | 82.8 | 12.6 |
| Business Freedom Index | 86.1 | 30.8 |
| Fiscal Health Index | 97.3 | 0 |
| Labor Freedom Index | 57.4 | 27.7 |
| Investment Freedom Index | 75 | 0 |
| Financial Freedom Index | 60 | 10 |
| Trade Freedom Index | 83.8 | 58 |
| Monetary Freedom Index | 74.8 | 0 |
| Government Spending Index | 25.6 | 66.3 |
| Tax Burden Index | 57.7 | 72.8 |
| Government Integrity Index | 95.6 | 14.6 |
| Corruption Perceptions Index | 84 | 18 |
| Life expectancy at birth, years | 82.5 | 72.2 |
| Suicide mortality rate, per 100,000 people | 12.2 | 3.7 |
| Mortality caused by road traffic injury, per 100,000 people | 2.7 | 33.7 |
| Intentional homicides, per 100,000 people | 0.5 | 56.3 |
| International tourism, number of arrivals | 5.7M | 427k |
Government debt & reserves
| Stat | Norway | Venezuela |
|---|---|---|
| Central government debt, % of GDP | 36.8% | 175.6% |
| External debt stocks, % of GNI | N/A | 33.9% |
| External debt stocks | N/A | $154.9B |
| Short-term debt, % of total reserves | N/A | 421.1% |
| Total debt service, % of exports and primary income | N/A | 69% |
| Adjusted net savings including particulate emission damage, % of GNI | 16.9% | 7.2% |
| Gross savings, % of GDP | 35.9% | 8.9% |
| Gross capital formation, % of GDP | 27.3% | -3.7% |
| Total reserves including gold | $63.1B | $9.8B |
| Foreign direct investment net inflows | -$17.4B | $956M |
Exports, imports and economic structure
| Stat | Norway | Venezuela |
|---|---|---|
| Exports of goods and services, % of GDP | 38.4% | 30.7% |
| Imports of goods and services, % of GDP | 32.6% | 36.4% |
| Current account balance (balance of payments) | $31.4B | -$3.9B |
| Revenue excluding grants, % of GDP | 47.4% | N/A |
| Grants excluding technical cooperation, BoP | N/A | $125.8M |
| Personal remittances received | $644.3M | $297.1M |
| Industry including construction value added, % of GDP | 32% | 37.2% |
| Agriculture, forestry and fishing value added, % of GDP | 1.9% | 5% |
| Charges for the use of intellectual property, payments BoP | $768.9M | $258M |
| Charges for the use of intellectual property, receipts BoP | $515.2M | N/A |
| Expense, % of GDP | 37.7% | N/A |
| Government Expenditure, % of GDP | 49.8% | 33.5% |
