According to the International Monetary Fund (IMF), real GDP of Norway is forecast to grow by 2.6 percent in 2023 and 2.2 percent in 2024.
1) Real GDP growth rate: 2010 – 0.7 percent, 2011 – 1.0 percent, 2012 – 2.7 percent, 2013 – 1.0 percent, 2014 – 2.0 percent, 2015 – 2.0 percent, 2016 – 1.1 percent, 2017 – 2.3 percent, 2018 – 1.1 percent, 2019 – 0.7 percent, 2020 – -0.7 percent, 2021 – 3.9 percent and 2022 – 4.0 percent.
Gross domestic product is the market value of all goods and services made in a country in a year. Annual percentages of constant price GDP are year-on-year changes. Expenditure-based GDP is total final expenditures at purchasers’ prices (including the f.o.b. value of exports of goods and services), less the f.o.b. value of imports of goods and services.
2) Projected real GDP growth rate: 2023 – 2.6 percent, 2024 – 2.2 percent, 2025 – 1.6 percent, 2026 – 1.3 percent and 2027 – 1.3 percent.
3) Nominal GDP in current prices, billions of Norwegian krone (code: NOK; sign: kr): 2010 – kr2,591.479 billion, 2011 – kr2,792.683 billion, 2012 – kr2,964.053 billion, 2013 – kr3,071.224 billion, 2014 – kr3,140.814 billion, 2015 – kr3,111.168 billion, 2016 – kr3,098.148 billion, 2017 – kr3,295.382 billion, 2018 – kr3,553.900 billion, 2019 – kr3,563.484 billion, 2020 – kr3,410.399 billion, 2021 – kr4,144.134 billion and 2022 – kr4,798.707 billion.
4) Projected nominal GDP in current prices, billions of Norwegian krone: 2023 – kr4,817.536 billion, 2024 – kr4,887.564 billion, 2025 – kr4,957.157 billion, 2026 – kr5,044.207 billion and 2027 – kr5,195.229 billion.
5) Nominal GDP in current prices, billions of U.S. dollars: 2010 – $428.757 billion, 2011 – $498.283 billion, 2012 – $509.506 billion, 2013 – $522.762 billion, 2014 – $498.410 billion, 2015 – $385.802 billion, 2016 – $368.827 billion, 2017 – $398.394 billion, 2018 – $437.000 billion, 2019 – $404.941 billion, 2020 – $362.198 billion, 2021 – $482.437 billion and 2022 – $541.938 billion.
Values are based upon GDP in national currency converted to U.S. dollars using market exchange rates (yearly average).
6) Projected nominal GDP in current prices, billions of U.S. dollars: 2023 – $549.733 billion, 2024 – $559.533 billion, 2025 – $565.327 billion, 2026 – $572.055 billion and 2027 – $591.374 billion.
7) GDP PPP (Purchasing power parity) in current prices, billions of international dollars: 2010 – $298.286 billion, 2011 – $307.472 billion, 2012 – $327.988 billion, 2013 – $340.138 billion, 2014 – $338.506 billion, 2015 – $313.315 billion, 2016 – $308.491 billion, 2017 – $332.135 billion, 2018 – $343.875 billion, 2019 – $352.637 billion, 2020 – $354.327 billion, 2021 – $383.529 billion and 2022 – $423.871 billion.
GDP PPP = gross domestic product based on purchasing power parity, international dollars. Average consumer price level in the US = 100%.
GDP PPP takes into account differences in the cost of living in different countries. Purchasing power parity means how much money would be needed to buy the same item basket in two different countries. Using a PPP basis is arguably more useful when comparing generalized differences in living standards between nations because PPP takes into account the relative cost of living and the inflation rates of the countries, rather than using only exchange rates, which may distort the real differences in income.
8) Projected GDP PPP in current prices, billions of international dollars: 2023 – $447.832 billion, 2024 – $469.126 billion, 2025 – $486.352 billion, 2026 – $502.252 billion and 2027 – $518.823 billion.
9) Nominal GDP per capita in current prices, U.S. dollars: 2010 – $87,356.2, 2011 – $100,197.2, 2012 – $101,129.9, 2013 – $102,576.7, 2014 – $96,657.6, 2015 – $74,115.2, 2016 – $70,223.8, 2017 – $75,306.7, 2018 – $82,082.1, 2019 – $75,594.0, 2020 – $67,265.9, 2021 – $89,090.0 and 2022 – $99,480.9.
GDP is expressed in current U.S. dollars per person. Data are derived by first converting GDP in national currency to U.S. dollars and then dividing it by total population.
10) Projected nominal GDP per capita in current prices, U.S. dollars: 2023 – $100,309.9, 2024 – $101,489.2, 2025 – $101,928.6, 2026 – $102,526.5 and 2027 – $105,356.9.
11) GDP PPP per capita in current prices, international dollars: 2010 – $60,773.6, 2011 – $61,827.8, 2012 – $65,101.0, 2013 – $66,742.1, 2014 – $65,647.1, 2015 – $60,189.9, 2016 – $58,735.9, 2017 – $62,782.1, 2018 – $64,590.3, 2019 – $65,829.9, 2020 – $65,804.0, 2021 – $70,825.0 and 2022 – $77,808.0.
Expressed in GDP in PPP dollars per person. Data are derived by dividing GDP in PPP dollars by total population.
12) Projected GDP PPP per capita in current prices, international dollars: 2023 – $81,716.1, 2024 – $85,091.1, 2025 – $87,689.3, 2026 – $90,016.1 and 2027 – $92,431.5.
13) GDP based on purchasing-power-parity (PPP) share of world total, percent: 2010 – 0.3 percent, 2011 – 0.3 percent, 2012 – 0.3 percent, 2013 – 0.3 percent, 2014 – 0.3 percent, 2015 – 0.3 percent, 2016 – 0.3 percent, 2017 – 0.3 percent, 2018 – 0.3 percent, 2019 – 0.3 percent, 2020 – 0.3 percent, 2021 – 0.3 percent and 2022 – 0.3 percent.
Expressed in percent of world GDP in PPP dollars.
14) Projected GDP based on purchasing-power-parity (PPP) share of world total, percent: 2023 – 0.3 percent, 2024 – 0.3 percent, 2025 – 0.3 percent, 2026 – 0.2 percent and 2027 – 0.2 percent.
15) Deflator of Gross domestic product (index to the previous year), percent: 2010 – 106.0 percent, 2011 – 106.7 percent, 2012 – 103.3 percent, 2013 – 102.6 percent, 2014 – 100.3 percent, 2015 – 97.1 percent, 2016 – 98.5 percent, 2017 – 104.0 percent, 2018 – 106.7 percent, 2019 – 99.5 percent, 2020 – 96.4 percent, 2021 – 116.9 percent and 2022 – 111.3 percent.
The GDP deflator is derived by dividing current price GDP by constant price GDP and is considered to be an alternate measure of inflation.
16) Projected deflator of Gross domestic product (index to the previous year), percent: 2023 – 97.9 percent, 2024 – 99.2 percent, 2025 – 99.8 percent, 2026 – 100.5 percent and 2027 – 101.7 percent.
17) Output gap in percent of potential GDP, percent of potential GDP: 2010 – -1.1 percent, 2011 – -1.2 percent, 2012 – 0.1 percent, 2013 – 0.1 percent, 2014 – 0.2 percent, 2015 – -0.3 percent, 2016 – -1.0 percent, 2017 – -0.6 percent, 2018 – -0.2 percent, 2019 – 0.2 percent, 2020 – -2.1 percent, 2021 – 0.3 percent and 2022 – 0.9 percent.
The output gap is actual minus potential output, as a percentage of potential output. Estimates of the output gap are subject to significant margins of uncertainty.
18) Projected output gap in percent of potential GDP, percent of potential GDP: 2023 – 0.4 percent.
19) Ratio of the average price level in Norway to the average price level in the United States, percent: 2010 – 143.7 percent, 2011 – 162.1 percent, 2012 – 155.3 percent, 2013 – 153.7 percent, 2014 – 147.2 percent, 2015 – 123.1 percent, 2016 – 119.6 percent, 2017 – 119.9 percent, 2018 – 127.1 percent, 2019 – 114.8 percent, 2020 – 102.2 percent, 2021 – 125.8 percent and 2022 – 127.9 percent.
20) Projected ratio of the average price level in Norway to the average price level in the United States, percent: 2023 – 122.8 percent, 2024 – 119.3 percent, 2025 – 116.2 percent, 2026 – 113.9 percent and 2027 – 114.0 percent.
See also: Futures vs Forwards contracts: which is more profitable?
The prospectus of debut Eurobonds of the Development Bank of the Republic of Belarus
GDP data: Argentina, Australia, Austria, Belgium, Brazil, Canada, China, France, Germany, India, Indonesia, Iran, Ireland, Israel, Italy, Japan, Korea, Mexico, Netherlands, Nigeria, Poland, Saudi Arabia, Spain, Sweden, Switzerland, Taiwan, Thailand, United Kingdom, United States
Ranking of countries by nominal GDP in current prices in 1980-2025
Ranking of countries by GDP PPP in 1980-2025
Ranking of countries by real GDP growth rate in 1980-2025
Ranking of countries by nominal GDP per capita in 1980-2025
Ranking of countries by GDP PPP per capita in 1980-2025
Tags: English, GDP, GDP PPP, projected GDP, IMF
Source: BusinessForecast.by