Inflation
Norways' current inflation rate is 1.4 %. This number is slightly lower then many of Norways' neighboring countries and is quite a bit lower then many other countries further from Norway. Inflation rates are not of large concern for Norway because they have had steady low inflation rates and are ranked 10th in the world for inflation rates. The level of prices for goods and services continues to stay fairly consistent for Norway which reflects their low inflation rates.
Unemployment Rate
The current unemployment rate in Norway is 3.4%. This is extremely low in comparison to many other countries. Services make up 76% of Norway's 2.617 million person labor force.The fact that a mere 2.9% of the labor force is working in agriculture could help contribute to the low unemployment rate. There is less of a chance for a large amount of people to be out of work due to a natural disaster or a seasonal change that effects agriculture.
The current unemployment rate in Norway is 3.4%. This is extremely low in comparison to many other countries. Services make up 76% of Norway's 2.617 million person labor force.The fact that a mere 2.9% of the labor force is working in agriculture could help contribute to the low unemployment rate. There is less of a chance for a large amount of people to be out of work due to a natural disaster or a seasonal change that effects agriculture.
GDP
The Current GDP or gross domestic product of Norway is 264.5 Billion dollars. This number is low in comparison to a majority of other countries. Seeing as how Norway is a relatively small country and therefore has a smaller population this number is not too low. There might be cause for concern if the comparison between countries of similar population size reveals that Norway's GDP is in fact lower than many of theirs.
Per Capita GDP
Norway's Per Capita GDP is $53,300. This is much higher then many of Norway's neighboring countries and is even higher than the U.S. This shows that Norway has high productivity and that overall people have a good amount of income. This number also puts Norway at number 7 in the world for Per Capita GDP.
GDP Growth
Norway's current GDP growth is at 1.7%. This is some what low compared to many of it's neighboring countries and puts Norway at number 164 in the world for GDP growth. This basically means that the value of all final goods and services is only increasing at a rate of 1.7%
Cause for concern?
Norway's Low GDP growth may be cause for concern although the countries GDP rate itself seems ok the low rate of economic growth revealed by the low GDP Growth could lead to lower per capita GDP and GDP in general which is not good.
Cause for concern?
Norway's Low GDP growth may be cause for concern although the countries GDP rate itself seems ok the low rate of economic growth revealed by the low GDP Growth could lead to lower per capita GDP and GDP in general which is not good.