OECD - OECD Economic Surveys: Norway 2019
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OECD (2019), OECD Economic Surveys: Norway 2019 , OECD Publishing, Paris, https://doi.org/10.1787/c217a266-en .
This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.
The economic situation and policies of Norway were reviewed by the Committee on 4 November 2019. The draft report was then revised in light of the discussions and given final approval as the agreed report of the whole Committee on 18 November 2019.
The Secretariats draft report was prepared for the Committee by Philip Hemmings and Urban Sila under the supervision of Sebastian Barnes. It benefitted from contributions by Alex Hijzen, Stefan Thewissen and Christopher Prinz. Research assistance was provided by Batrice Gurard. Editorial assistance was provided by Michelle Ortiz.
The previous Survey of Norway was issued in January 2018.
Information about the latest as well as previous Surveys and more information about how Surveys are prepared is available at http://www.oecd.org/eco/surveys
Basic Statistics of Norway, 2018 | |||||
|---|---|---|---|---|---|
(Numbers in parentheses refer to the OECD average) | |||||
LAND, PEOPLE AND ELECTORAL CYCLE | |||||
Population (million) | 5.3 | Population density per km | 14.6 | (37.8) | |
Under 15 (%) | 17.5 | (17.8) | Life expectancy (years, 2017) | 82.5 | (80.1) |
Over 65 (%) | 17.0 | (17.1) | Men (2017) | 80.9 | (77.5) |
Foreign born (%) | 15.5 | Women (2017) | 84.2 | (82.9) | |
Latest 5-year average growth (%) | 0.9 | (0.6) | Latest general election | september-2017 | |
ECONOMY | |||||
Gross domestic product (GDP) | Value added shares (%) | ||||
In current prices (billion USD) | 434.4 | Primary sector | 2.1 | (2.4) | |
In current prices (billion NOK) | 3 530.9 | Industry including construction | 35.3 | (27.5) | |
Latest 5-year average real growth (%) | 1.7 | (2.3) | Services | 62.6 | (70.1) |
Per capita (000 USD PPP) | 65.5 | (46.4) | |||
GENERAL GOVERNMENT | |||||
Per cent of GDP | |||||
Expenditure | 48.8 | (41.2) | Gross financial debt (OECD: 2017) | 45.7 | (112.4) |
Revenue | 56.1 | (38.2) | Net financial debt (OECD: 2017) | -282.0 | (69.6) |
EXTERNAL ACCOUNTS | |||||
Exchange rate (NOK per USD) | 8.13 | Main exports (% of total merchandise exports) | |||
PPP exchange rate (USA = 1) | 10.14 | Mineral fuels, lubricants and related materials | 62.0 | ||
In per cent of GDP | Food and live animals | 10.4 | |||
Exports of goods and services | 38.4 | (56.2) | Machinery and transport equipment | 8.2 | |
Imports of goods and services | 32.6 | (52.1) | Main imports (% of total merchandise imports) | ||
Current account balance | 7.2 | (0.3) | Machinery and transport equipment | 38.4 | |
Net international investment position | 186.6 | Manufactured goods | 15.0 | ||
Miscellaneous manufactured articles | 14.3 | ||||
LABOUR MARKET, SKILLS AND INNOVATION | |||||
Employment rate (aged 15 and over, %) | 74.8 | (68.4) | Unemployment rate, Labour Force Survey (aged 15 and over, %) | 3.8 | (5.3) |
Men | 76.9 | (76.0) | Youth (aged 15-24, %) | 9.7 | (11.1) |
Women | 72.7 | (60.9) | Long-term unemployed (1 year and over, %) | 0.5 | (1.5) |
Participation rate for 15-64 year-olds (%) | 78.0 | (72.4) | Tertiary educational attainment (aged 25-64, %, | 43.6 | (36.9) |
Average hours worked per year) | 1 416 | (1734) | Gross domestic expenditure on R&D (% of GDP, 2016) | 2.0 | (2.5) |
ENVIRONMENT | |||||
Total primary energy supply per capita (toe, 2017) | 5.1 | (4.1) | CO2 emissions from fuel combustion per capita (tonnes, 2016) | 6.8 | (9.0) |
Renewables (%, 2017) | 52.8 | (10.2) | Water abstractions per capita (1 000 m, 2007) | 0.6 | |
Exposure to air pollution (more than 10 g/m of PM 2.5, % of population, 2017) | 3.8 | (58.7) | Municipal waste per capita (tonnes, 2017) |
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