Flag of no

Norway Real GDP

Norway's real GDP rose to $443.94 billion in 2024, up from $434.81 billion in 2023, according to World Bank. This represents an increase of 2.1% ($9.13 billion) from the previous year and accounts for 0.46% of the world's total real GDP. Norway has real GDP higher than the global median ($443.94 billion vs median $29.34 billion). Compared with the median in Europe, Norway is higher ($443.94 billion vs regional median $78.54 billion) and ranks 14th out of 47 countries in Europe.

Norway's GDP per capita rose to $79,670.14 in 2024, up from $78,775.85 in 2023.

Yearly Historical Data (1960-2024)

(in Billion USD)
Year Real GDP (Billion USD)
2024 443.94
2023 434.81
2022 434.5
2021 420.84
2020 405.01
2019 410.25
2018 405.69
2017 402.36
2016 392.68
2015 388.16
2014 381.08
2013 373.43
2012 369.68
2011 359.89
2010 355.96
2009 353.18
2008 360.17
2007 358.44
2006 348.29
2005 339.92
2004 331.04
2003 318.26
2002 315.28
2001 311
2000 304.7
1999 294.91
1998 288.92
1997 281.41
1996 267.29
1995 254.49
1994 244.34
1993 232.58
1992 226.15
1991 218.34
1990 211.81
1989 207.79
1988 205.66
1987 206.18
1986 202.63
1985 194.76
1984 184.51
1983 173.98
1982 167.33
1981 166.94
1980 164.31
1979 157.14
1978 150.56
1977 144.95
1976 139.16
1975 131.5
1974 125.29
1973 120.57
1972 115.34
1971 109.5
1970 103.62
1969 101.65
1968 97.27
1967 95.12
1966 89.52
1965 86.25
1964 81.92
1963 78.01
1962 75.17
1961 73.11
1960 68.79
Norway Real GDP : Definition
Real GDP is defined as the value of all goods and services produced in Norway, measured in US dollars adjusted to 2015 prices. By fixing prices to a base year, it removes the effect of inflation, so this represents real GDP rather than nominal GDP.
Indicator Last Value Prior Value Period
GDP $483.73B $482.95B 2024
GDP Annual Growth Rate 2.1% 0.07% 2024
GDP Growth Rate (QoQ) 0.8% 0.1% Jun'25
GDP Growth Rate (YoY) -2.1% -0.3% Jun'25
GDP per Capita $79,670.14 $78,775.85 2024
GDP per Capita PPP $91,108.24 $90,085.55 2024
R&D Expenditure (% GDP) 1.56% 1.89% 2022