Resilient economy that reinvokes growth

AA1

LOW RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Last updated in January 2024.

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GDP USD 579.3bn (World ranking 24, World Bank 2022)
Population 5.5mn (World ranking 118, World Bank 2022)
Form of state Constitutional Monarchy
Head of government Jonas Gahr Støre (PM)
Next elections 2025, legislative
Strenghts
  • Full integration in the EU’s internal market and free travel zone
  • Strong business environment supported by a wide political consensus
  • Highly skilled and educated workforce
  • Profitable banking system and financial stability
  • Robust fiscal framework and ample support by the Government Pension Fund Global
Weaknesses
  • Persistently low energy prices
  • Low diversification
  • Very high household debt level
  • High corporate and personal tax rates
  • High unit labor costs

Trade structure by destination/origin

(% of total, 2022)

Exports Rank Imports
Germany 27.9%
1
12.6% Sweden
United Kingdom 21.4%
2
12.3% Sweden
France 9.4%
3
11.4% Germany
Belgium 7.6%
4
6.1% United States
Netherlands 6.4%
5
4.7% Denmark

Trade structure by product

(% of total, 2022)

Exports Rank Imports
Gas, natural and manufactured 53.1%
1
11.9% Road vehicles
Petroleum, petroleum products and related materials 24.1%
2
7.7% Petroleum, petroleum products and related materials
Fish, crustaceans, molluscs and preparations thereof 5.6%
3
5.3% Manufactures of metal, n.e.s.
Non-ferrous metals 3.5%
4
5.3% Electrical machinery, apparatus and appliances, n.e.s.
Electric current 1.7%
5
4.3% Other industrial machinery and parts
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
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