This Survey is published on the responsibility of the Economic and Development Review Committee (EDRC) 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 25 November 2015. The draft report was then revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 8 December 2015.

The Secretariat’s draft report was prepared for the Committee by Philip Hemmings and Vassiliki Koutsogeorgopoulou under the supervision of Piritta Sorsa. Secretarial assistance was provided by Anthony Bolton and Mikel Inarritu with statistical assistance by Taejin Park.

The previous Survey of Norway was issued in March 2014.

  
Basic statistics of Norway
(Data refer to 2014, unless otherwise stated numbers in parentheses refer to the OECD average)a

LAND, PEOPLE AND ELECTORAL CYCLE

Population (million)

5.1

Population density per km²

13.3

(34.9)

Under 15 (%)

18.1

(18.1)

Life expectancy (years, 2013)

80.8

(80.4)

Over 65 (%)

16.0

(16.0)

Men

77.6

(77.8)

Foreign-born (%, 2011)

12.4

Women

84.0

(83.0)

Latest 5-year average growth (%)

1.2

(0.6)

Latest general election

September 2013

ECONOMY

Gross domestic product (GDP)

Value added shares (%)

In current prices (billion USD)

502.0

Primary sector

1.7

(2.6)

In current prices (billion NOK)

3 154

Industry including construction

38.2

(26.5)

Latest 5-year average real growth (%)

1.5

(1.9)

Services

60.1

(71.0)

Per capita (000 USD PPP)

64.9

(39.0)

 

GENERAL GOVERNMENT

Percentage of GDP

Expenditure

45.6

(41.5)

Gross financial debt

32.7

(115.5)

Revenue

54.7

(38.8)

Net financial debt

-242.0

(71.7)

EXTERNAL ACCOUNTS

Exchange rate (NOK per USD)

6.3

Main exports (% of total merchandise exports)

PPP exchange rate (USA = 1)

9.5

Mineral fuels, lubricants and related materials

64.7

In percentage of GDP

Machinery and transport equipment

9.5

Exports of goods and services

38.7

(53.8)

Food and live animals

7.9

Imports of goods and services

29.5

(49.8)

Main imports (% of total merchandise imports)

Current account balance

9.7

(0.0)

Machinery and transport equipment

39.2

Net international investment position (2013)

123.3

Manufactured goods

15.3

Miscellaneous manufactured articles

15.2

LABOUR MARKET, SKILLS AND INNOVATION

Employment rate for 15-64 year-olds (%)

75.2

(65.7)

Unemployment rate, Labour Force Survey (age 15 and over) (%)

3.5

(7.3)

Men

77.0

(73.6)

Youth (age 15-24, %)

7.9

(15.0)

Women

73.4

(57.9)

Long-term unemployed (1 year and over, %)

0.4

(2.5)

Participation rate for 15-64 year-olds (%)

78.1

(71.2)

Tertiary educational attainment 25-64 year-olds (%, 2013)

39.8

(33.3)

Average hours worked per year

1 427

(1 770)

Gross domestic expenditure on R&D (% of GDP, 2013)

1.7

(2.4)

ENVIRONMENT

Total primary energy supply per capita (toe)

5.9

(4.1)

CO2 emissions from fuel combustion per capita (tonnes, 2013)

6.9

(9.6)

Renewables (%)

43.5

(9.1)

Municipal waste per capita (tonnes, 2013)b

0.5

(0.5)

Population exposure to fine particulates (PM2.5, μg/m3, 2013)

6.0

(13.8)

 

SOCIETY

Income inequality (Gini coefficient, 2012)

0.253

(0.308)

Education outcomes (PISA score, 2012)

Relative poverty rate (%, 2012)

8.1

(10.9)

Reading

504

(496)

Median disposable household income (000 USD PPP, 2012)

35.5

(21.9)

Mathematics

489

(494)

Public and private spending (% of GDP)

Science

495

(501)

Health care (2013)c

9.7

(9.0)

Share of women in parliament (%, November 2015)

39.6

(27.8)

Pensions (2011)

7.4

(8.7)

Net official development assistance (% of GNI)

1.0

(0.36)

Education (primary, secondary, post sec. non tertiary, 2012)

4.6

(3.7)

 

Better life index: www.oecdbetterlifeindex.org

← a. Where the OECD aggregate is not provided in the source database, a simple OECD average of latest available data is calculated where data exist for at least 29 member countries.

← b. 2012 for the OECD aggregate.

← c. 2011 for the OECD aggregate.

Source: Calculations based on data extracted from the databases of the following organisations: OECD, International Energy Agency, World Bank, International Monetary Fund and Inter-Parliamentary Union.