Norway profile

Demography and Health

Norway is a high-income society with a population of 5,572,272 in 2024. The country’s demography shows a relatively low birth rate of 9.4 births per 1,000 people (2023) alongside a death rate of 7.9 per 1,000, and a life expectancy of 83.1 years at birth in 2023, painting a picture of an aging population with long life horizons. The under-5 mortality rate is very low at 2.4 deaths per 1,000 live births (2023), underscoring strong child health outcomes. Net migration in 2024 stands at 44,356, contributing to population growth and helping mitigate workforce aging. The population’s high connectivity, with 99% Internet usage in 2023, facilitates access to digital health services and social inclusion, supporting a modern welfare state. Within health financing, current health expenditure accounts for 7.95% of GDP in 2022, and per-capita health spending in purchasing power parity terms is about 8,506 international US dollars (2022), reflecting a well-funded health system. Norway’s physician density is robust at 5.17 physicians per 1,000 people (2021), supporting access to care. The country also juxtaposes strong health outcomes with social indicators: poverty measured at national poverty lines stood at 12.2% in 2021, and life expectancy remains among the highest globally, indicating a comprehensive social safety net. While child and maternal health are excellent, the suicide mortality rate of 13.2 per 100,000 people (2021) highlights ongoing attention to mental health within a high-income setting.

Economy

Norway demonstrates a prosperous, highly productive economy anchored by very high living standards. GDP per capita in current US dollars was 86,810 in 2024, ranking sixth globally, while GDP per capita at PPP stood at 101,032 in 2024, indicating strong purchasing power and living standards. The economy is highly open, with exports of goods and services equaling 47.6% of GDP in 2024 and imports at 33.7% of GDP, illustrating substantial trade openness and a substantial external orientation. High-technology exports reached about 6.42 billion US dollars in 2024, signaling a robust, knowledge-intensive sector. Research and development expenditure accounts for 1.56% of GDP in 2022, a solid investment level that supports productivity and innovation, while patent activity among residents was 946 applications in 2021, indicating ongoing inventive output. The inflation rate stood at 3.15% in 2024, suggesting moderate price stability in a mature economy. Unemployment remains low at 3.57% in 2023, reflecting a tight labor market. The current account balance is strong at 17.1% of GDP in 2024, underscoring a favorable external position and the capacity to absorb external shocks. Foreign direct investment net inflows are 0.85% of GDP in 2024, consistent with a mature, well-regulated economy that relies heavily on domestic wealth and established international partnerships. Overall, Norway combines high income with prudent macro management, a broad welfare orientation, and a strong capacity for innovation and adaptation.

Trade and Investment

Norway’s external position is characterized by a high degree of openness and a strong current account. Exports of goods and services comprise 47.6% of GDP in 2024, while imports account for 33.7% of GDP, indicating a positive trade balance and an economy deeply integrated with global markets. The current account balance stands at 17.1% of GDP in 2024, signaling substantial net inflows from trade and investment that support domestic investment and welfare programs. Net foreign direct investment inflows amount to 0.85% of GDP in 2024, suggesting a mature investment climate with capital inflows that complement domestic savings and policy objectives. The logistics and trade environment benefits from a high-quality infrastructure, evidenced by a Logistics Performance Index of 3.9 (2022) on a 1-to-5 scale, where higher scores denote better performance, placing Norway among the better performers globally. The country’s digital connectivity is evident in near-universal internet penetration, at 99% of the population in 2023, which supports digital trade, e-services, and cross-border commerce. Norway’s trade sophistication is further reflected in technology indicators: high-technology exports are sizable (about 6.42 billion US$ in 2024) and resident patent activity (946 applications in 2021) points to ongoing innovation that underpins competitive export sectors. The economy thus blends strong energy- and resource-based trade with advanced manufacturing and services, supported by a stable macro environment and governance framework.

Governance and Institutions

Norway exhibits very high standards of governance and institutional quality. Political stability and absence of violence or terrorism are strong, with a score of 0.893 in 2023, while regulatory quality stands at 1.6 and the rule of law at 1.83, both reflecting a policy environment that supports predictable regulation, contract enforcement, and investor confidence. Control of corruption is high at 2.11, and government effectiveness is robust at 1.8, illustrating efficient public services, credible policy implementation, and sound public administration. These indicators collectively point to a trustworthy, predictable governance landscape that underpins welfare programs, economic policy, and the rule of law. Such a climate reduces risk for business and fosters long-term investments in infrastructure, innovation, and public services. The combination of political stability, strong governance indicators, and effective institutions helps sustain high living standards, social cohesion, and a favorable environment for both domestic and international actors.

Infrastructure and Technology

Norway’s infrastructure and technology profile is advanced and digitally oriented. Internet usage is nearly universal, with 99% of the population online in 2023, enabling broad adoption of digital services, e-government, and innovation ecosystems. The logistics environment scores highly, with a Logistics Performance Index of 3.9 in 2022, indicating efficient trade and transport networks. Health and public services are well supported by substantial public health spending, including domestic general government health expenditure per capita in PPP terms of 8,506 international US dollars in 2022, and a physician density of 5.17 per 1,000 people in 2021, reflecting strong healthcare and professional capacity. Norway also invests in knowledge creation: R&D expenditure is 1.56% of GDP in 2022, and high-technology exports total about 6.42 billion US$ in 2024, signaling sustained emphasis on advanced industries. Patent activity—946 resident applications in 2021—indicates ongoing inventive output. The combined effect is a technologically sophisticated economy with high-capacity infrastructure, robust digital connectivity, and a pool of skilled professionals that support innovation, productivity, and service excellence across sectors.

Environment and Sustainability

Norway demonstrates a strong environmental and sustainability profile. Renewable energy accounts for 61.4% of total final energy consumption in 2021, highlighting a heavy reliance on renewables and a decarbonization trajectory, particularly in electricity generation and heating. The level of water stress is very low, with freshwater withdrawal at about 2.01% of available resources in 2021, indicating abundant water resources and minimal risk to water security. Total greenhouse gas emissions per capita exclude LULUCF are approximately 10.3 t CO2e in 2023, reflecting a relatively favorable emissions footprint per person given the country’s energy mix and transport patterns, though absolute emissions remain substantial due to economic activity and energy production. The prevalence of undernourishment is low at 2.5% in 2022, and the poverty headcount ratio at national poverty lines is 12.2% in 2021, illustrating broad access to food and a generous social safety net. Together, these indicators reveal a country that combines abundant renewable resources and high living standards with ongoing work to reduce emissions and enhance environmental resilience.