Norway

Business Context Overview

Non-EU Member; EEA Member
Flag - Norway
5.6M
Approx. 5.6 million inhabitants.
Population
€500–540B
Approx. €500–540 billion.
GDP (Nominal)
€90,000–€100,000
Approx. €90,000–€100,000 per capita (nominal).
GDP per Capita
1.0–1.8%
Approx. 1.0–1.8%, supported by energy exports and public spending.
GDP Growth
3.0–4.0%
Approx. 3.0–4.0%.
Inflation
3.5–4.0%
Approx. 3.5–4.0%.
Unemployment Rate
Norwegian krone (NOK)
Norwegian krone (NOK)
Currency
40–45%
Approx. 40–45% of GDP (excluding sovereign wealth fund assets).
Public Debt

Economic Structure

Advanced services and technology Norway’s economy is highly developed and resource-driven, with strong fiscal stability supported by one of the world’s largest sovereign wealth funds.

Oil and gas production
Maritime and shipping
Renewable energy and hydropower
Fisheries and aquaculture
Advanced services and technology Norway’s economy is highly developed and resource-driven, with strong fiscal stability supported by one of the world’s largest sovereign wealth funds.

Economic Outlook

Norway is expected to maintain stable growth, supported by energy exports, public investment, and strong fiscal buffers. Long-term development focuses on energy transition, diversification beyond hydrocarbons, and innovation in green technologies.

Business Environment (High-Level)

Norway offers a business environment shaped by Oil and gas production, Maritime and shipping, Renewable energy and hydropower, with commercial activity supported by Oil and natural gas, Fish and seafood and regional market integration.

22%

25%

No statutory national minimum wage; wages are set through collective agreements.

Non-EU Member; EEA Member.

Approximately 4–6 days. Norway offers a highly transparent, stable, and efficient business environment with strong rule of law and high labor costs.

Main Export Products

  • Oil and natural gas
  • Fish and seafood
  • Metals
  • Machinery
  • Chemicals

Main Export Partners

  • United Kingdom
  • Germany
  • Netherlands
  • Sweden
  • Denmark
  • France

Data & Transparency

Data Sources:

  • IMF
  • World Bank
  • Eurostat
  • Statistics Norway
  • OECD

Last Updated: April 2026

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This profile is based on publicly available data and AI-supported analysis. It does not constitute official or legally binding information. Users are required to verify all data with relevant authorities before making decisions. We are not a governmental body, public authority, or official representative of any country unless explicitly stated.