Norway Government Debt: % of GDP

1995 - 2021 | Yearly | % | CEIC Data

Key information about Norway Government Debt: % of GDP

  • Norway Government debt accounted for 42.5 % of the country's Nominal GDP in Dec 2021, compared with the ratio of 45.2 % in the previous year.
  • Norway government debt to GDP ratio data is updated yearly, available from Dec 1995 to Dec 2021.
  • The data reached an all-time high of 52.2 % in Dec 2006 and a record low of 23.6 % in Dec 1998.

CEIC calculates Government Debt as % of Nominal GDP from annual Government Debt and annual Nominal GDP. Statistics Norway provides Government Debt in local currency and Nominal GDP in local currency.


Related information about Norway Government Debt: % of GDP

  • In the latest reports, Norway National Government Debt reached 203.1 USD bn in Dec 2021.
  • The country's Nominal GDP reached 128.6 USD bn in Mar 2023.

View Norway's Government Debt: % of GDP from 1995 to 2021 in the chart:

Norway Government Debt: % of GDP

What was Norway's Government Debt: % of GDP in 2021?

Norway Government debt accounted for 42.5 % of the country's Nominal GDP in Dec 2021, compared with the ratio of 45.2 % in the previous year. See the table below for more data.

Last Previous Min Max Unit Frequency Range
42.5 2021 45.2 2020 23.6 1998 52.2 2006 % yearly 1995 - 2021

Government Debt: % of GDP by Country Comparison

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country/region Last Frequency Range
Albania (%) 60.8 Mar 2023 quarterly Sep 2010 - Mar 2023
Algeria (%) 62.1 2021 yearly 1997 - 2021
Argentina (%) 80.3 Mar 2023 quarterly Dec 2004 - Mar 2023
Armenia (%) 47.5 Jun 2023 quarterly Dec 2013 - Jun 2023
Australia (%) 42.3 2022 yearly 1999 - 2022
Austria (%) 80.6 Mar 2023 quarterly Mar 2000 - Mar 2023
Azerbaijan (%) 16.8 2021 yearly 2008 - 2021
Bahrain (%) 85.2 Mar 2023 quarterly Dec 2007 - Mar 2023
Bangladesh (%) 20.6 2022 yearly 2010 - 2022
Belarus (%) 36.1 Mar 2022 quarterly Dec 2003 - Mar 2022
Belgium (%) 107.4 Mar 2023 quarterly Dec 1980 - Mar 2023
Bolivia (%) 27.2 2014 yearly 1998 - 2014
Bosnia and Herzegovina (%) 24.4 2021 yearly 2007 - 2021
Botswana (%) 17.9 Dec 2021 quarterly Jun 2014 - Dec 2021
Brazil (%) 73.6 Jun 2023 quarterly Dec 2006 - Jun 2023
Bulgaria (%) 23.1 Sep 2022 quarterly Mar 2007 - Sep 2022
Cambodia (%) 33.7 2022 yearly 2013 - 2022
Canada (%) 66.4 2023 yearly 1962 - 2023
Chile (%) 37.3 Mar 2023 quarterly Mar 2002 - Mar 2023
China (%) 21.4 Mar 2023 quarterly Mar 2014 - Mar 2023
Colombia (%) 62.9 Dec 2022 quarterly Dec 2005 - Dec 2022
Croatia (%) 68.8 Dec 2022 quarterly Dec 1995 - Dec 2022
Cyprus (%) 86.1 Jun 2023 quarterly Dec 2010 - Jun 2023
Czech Republic (%) 44.5 Mar 2023 quarterly Mar 2000 - Mar 2023
Denmark (%) 29.4 Mar 2023 quarterly Mar 2000 - Mar 2023
Ecuador (%) 65.1 Mar 2023 quarterly Dec 2005 - Mar 2023
Egypt (%) 68.6 Jun 2020 quarterly Jun 2006 - Jun 2020
Estonia (%) 17.2 Mar 2023 quarterly Mar 2000 - Mar 2023
European Union (%) 83.7 Mar 2023 quarterly Mar 2000 - Mar 2023
Finland (%) 72.5 Mar 2023 quarterly Mar 2000 - Mar 2023
France (%) 112.5 Mar 2023 quarterly Dec 1995 - Mar 2023
Georgia (%) 37.5 Mar 2023 quarterly Mar 2006 - Mar 2023
Germany (%) 65.7 Mar 2023 quarterly Mar 2000 - Mar 2023
Ghana (%) 70.7 2022 yearly 2006 - 2022
Greece (%) 168.4 Mar 2023 quarterly Dec 1999 - Mar 2023
Hong Kong SAR, China (%) 47.6 2022 yearly 2003 - 2022
Hungary (%) 71.5 Jun 2023 quarterly Dec 1990 - Jun 2023
Iceland (%) 68.7 2022 yearly 1998 - 2022
India (%) 55.7 Mar 2023 quarterly Mar 2012 - Mar 2023
Indonesia (%) 38.1 Jun 2023 quarterly Jun 2015 - Jun 2023
Iran (%) 8.8 Mar 2022 quarterly Mar 1998 - Mar 2022
Ireland (%) 43.6 Mar 2023 quarterly Mar 2000 - Mar 2023
Israel (%) 67.1 2021 yearly 1995 - 2021
Italy (%) 145.2 Jun 2023 quarterly Dec 1995 - Jun 2023
Ivory Coast (%) 8.6 2015 yearly 1975 - 2015
Japan (%) 224.0 Jun 2023 quarterly Dec 1994 - Jun 2023
Jordan (%) 90.7 Mar 2023 quarterly Mar 2002 - Mar 2023
Kazakhstan (%) 22.2 Dec 2022 quarterly Mar 2005 - Dec 2022
Kenya (%) 0.1 Mar 2023 quarterly Dec 2009 - Mar 2023
South Korea (%) 47.8 Dec 2022 quarterly Sep 2002 - Dec 2022
Kosovo (%) 19.9 2022 yearly 2009 - 2022
Kuwait (%) 3.2 Dec 2020 quarterly Dec 2010 - Dec 2020
Kyrgyzstan (%) 47.9 Jun 2023 quarterly Mar 2011 - Jun 2023
Latvia (%) 42.9 Mar 2023 quarterly Mar 2000 - Mar 2023
Lebanon (%) 150.6 2020 yearly 1998 - 2020
Lithuania (%) 38.4 Mar 2023 quarterly Mar 2000 - Mar 2023
Luxembourg (%) 28.4 Mar 2023 quarterly Dec 1997 - Mar 2023
North Macedonia (%) 53.2 Jun 2023 quarterly Dec 2009 - Jun 2023
Malawi (%) 66.0 2014 yearly 2010 - 2014
Malaysia (%) 63.3 Jun 2023 quarterly Dec 2010 - Jun 2023
Malta (%) 52.4 Mar 2023 quarterly Dec 2000 - Mar 2023
Mauritius (%) 69.2 Jun 2023 quarterly Jun 2003 - Jun 2023
Mexico (%) 53.3 Jun 2023 quarterly Dec 2005 - Jun 2023
Moldova (%) 35.0 Jun 2023 quarterly Mar 2007 - Jun 2023
Mongolia (%) 59.4 Dec 2021 quarterly Dec 2017 - Dec 2021
Montenegro (%) 68.2 Mar 2023 quarterly Dec 2010 - Mar 2023
Morocco (%) 71.6 2022 yearly 1994 - 2022
Nepal (%) 27.2 2019 yearly 1990 - 2019
Netherlands (%) 48.3 Mar 2023 quarterly Dec 1999 - Mar 2023
New Zealand (%) 37.0 Mar 2023 quarterly Dec 2006 - Mar 2023
Nigeria (%) 21.6 Mar 2023 quarterly Dec 2010 - Mar 2023
Norway (%) 42.5 2021 yearly 1995 - 2021
Oman (%) 61.3 2021 yearly 1990 - 2021
Pakistan (%) 71.6 2022 yearly 2000 - 2022
Palestinian Territory (%) 74.3 Mar 2023 quarterly Dec 2010 - Mar 2023
Panama (%) 62.3 Sep 2022 quarterly Dec 2007 - Sep 2022
Paraguay (%) 33.2 Mar 2023 quarterly Dec 2014 - Mar 2023
Peru (%) 32.2 Jun 2023 quarterly Mar 1999 - Jun 2023
Philippines (%) 61.0 Jun 2023 quarterly Mar 1993 - Jun 2023
Poland (%) 48.4 Jun 2023 quarterly Dec 2002 - Jun 2023
Portugal (%) 110.1 Jun 2023 quarterly Dec 1995 - Jun 2023
Qatar (%) 15.0 2012 yearly 2006 - 2012
Romania (%) 48.4 Jun 2023 quarterly Dec 2011 - Jun 2023
Russia (%) 16.1 Jun 2023 quarterly Dec 2011 - Jun 2023
Saudi Arabia (%) 24.3 Jun 2023 quarterly Dec 2016 - Jun 2023
Serbia (%) 56.5 Mar 2023 quarterly Sep 2004 - Mar 2023
Singapore (%) 171.1 Jun 2023 quarterly Mar 1990 - Jun 2023
Slovakia (%) 57.8 Dec 2022 quarterly Mar 2000 - Dec 2022
Slovenia (%) 69.9 Dec 2022 quarterly Dec 1999 - Dec 2022
South Africa (%) 72.7 Jun 2023 quarterly Dec 1960 - Jun 2023
Spain (%) 112.8 Mar 2023 quarterly Mar 1995 - Mar 2023
Sri Lanka (%) 103.8 Mar 2023 quarterly Mar 2014 - Mar 2023
Sweden (%) 31.4 Mar 2023 quarterly Mar 1996 - Mar 2023
Switzerland (%) 25.1 2026 yearly 1990 - 2026
Taiwan (%) 29.7 2022 yearly 1996 - 2022
Tajikistan (%) 36.3 2021 yearly 1999 - 2021
Thailand (%) 53.9 Jun 2023 quarterly Dec 1997 - Jun 2023
Tunisia (%) 79.7 Dec 2021 monthly Apr 2011 - Dec 2021
Turkey (%) 31.2 Mar 2023 quarterly Dec 2001 - Mar 2023
Ukraine (%) 71.6 Dec 2022 quarterly Dec 2010 - Dec 2022

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Norway Key Series

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Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) 25.5 Mar 2023 quarterly Dec 2002 - Mar 2023
Consolidated Fiscal Balance (USD mn) 26,969.603 Mar 2023 quarterly Mar 2002 - Mar 2023
Tax Revenue (USD mn) 39,706.155 Mar 2023 quarterly Mar 2002 - Mar 2023
Tax Revenue: % of GDP (%) 31.9 Jun 2023 quarterly Mar 2002 - Jun 2023
National Government Debt (USD mn) 203,080.5 2021 yearly 1995 - 2021
Government Debt: % of GDP (%) 42.5 2021 yearly 1995 - 2021
Forecast: Government Expenditure (NOK bn) 2,769.251 2028 yearly 1980 - 2028
Forecast: Government Net Debt (NOK bn) 2,244.310 2028 yearly 1980 - 2028
Forecast: Government Revenue (NOK bn) 3,832.391 2028 yearly 1980 - 2028
General Govt Taxes: GS: Value Added Tax (NOK mn) 338,000.000 2021 yearly 1995 - 2021
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) 1.276 2028 yearly 1980 - 2028
Trade Balance (USD mn) 5,862.4 Aug 2023 monthly Jan 1957 - Aug 2023
Total Exports (USD mn) 13,404.9 Aug 2023 monthly Jan 1975 - Aug 2023
Total Exports Growth (%) -56.2 Aug 2023 monthly Jan 1976 - Aug 2023
Aluminum: Exports (USD th) 6,135,979.913 2022 yearly 1995 - 2022
Exports: Medicament (USD th) 448,682.646 2022 yearly 1995 - 2022
Exports: Medicinal and Pharmaceutical Product (USD th) 277,185.408 2022 yearly 1995 - 2022
Total Imports (USD mn) 7,542.5 Aug 2023 monthly Jan 1976 - Aug 2023
Total Imports Growth (%) -12.3 Aug 2023 monthly Jan 1977 - Aug 2023
Imports: Medicament (USD th) 1,781,332.513 2022 yearly 1995 - 2022
Imports: Medicinal and Pharmaceutical Product (USD th) 1,061,381.998 2022 yearly 1995 - 2022
Total Exports to USA (USD mn) 512.825 Aug 2023 monthly Jan 1988 - Aug 2023
Total Imports from USA (USD mn) 472.896 Aug 2023 monthly Apr 1963 - Aug 2023
Total Exports to China (USD mn) 196.279 Aug 2023 monthly Mar 1977 - Aug 2023
Total Imports from China (USD mn) 955.909 Aug 2023 monthly Apr 1963 - Aug 2023
Exports: Crude Oil (NOK mn) 42,343.000 Aug 2023 monthly Jan 1974 - Aug 2023
Imports (NOK mn) 78,956.000 Aug 2023 monthly Jan 1976 - Aug 2023
Exports (NOK mn) 140,325.000 Aug 2023 monthly Jan 1975 - Aug 2023
Exports: Netherlands (NOK th) 14,925,404.000 Aug 2023 monthly Jan 1988 - Aug 2023
Exports: United Kingdom (NOK th) 25,514,822.000 Aug 2023 monthly Jan 1988 - Aug 2023
Exports: Sweden (NOK th) 12,898,782.000 Aug 2023 monthly Jan 1988 - Aug 2023
Exports: Germany (NOK th) 23,874,200.000 Aug 2023 monthly Jan 1988 - Aug 2023
Exports: France (NOK th) 7,544,878.000 Aug 2023 monthly Jan 1988 - Aug 2023
Exports: 1-Digit: Chemical and Related Product (NOK th) 6,483,059.000 Aug 2023 monthly Jan 1988 - Aug 2023
Exports: 1-Digit: Food and Live Animals (NOK th) 14,481,364.000 Aug 2023 monthly Jan 1988 - Aug 2023
Exports: 1-Digit: Manufactured Goods (NOK th) 10,523,677.000 Aug 2023 monthly Jan 1988 - Aug 2023
Exports: 1-Digit: Mineral Fuels and Lubricants (NOK th) 93,140,216.000 Aug 2023 monthly Jan 1988 - Aug 2023
Exports: 1-Digit: Machinery and Transport Equipment (NOK th) 9,777,290.000 Aug 2023 monthly Jan 1988 - Aug 2023
Imports: Denmark (NOK th) 4,168,763.000 Aug 2023 monthly Jan 1988 - Aug 2023
Imports: China (NOK th) 10,006,645.000 Aug 2023 monthly Jan 1988 - Aug 2023
Imports: Sweden (NOK th) 7,702,765.000 Aug 2023 monthly Jan 1988 - Aug 2023
Imports: United Kingdom (NOK th) 3,291,597.000 Aug 2023 monthly Jan 1988 - Aug 2023
Imports: Germany (NOK th) 8,589,229.000 Aug 2023 monthly Jan 1988 - Aug 2023
Imports: 1-Digit: Machinery and Transport Equipment (NOK th) 26,161,977.000 Aug 2023 monthly Jan 1988 - Aug 2023
Imports: 1-Digit: Manufactured Goods (NOK th) 10,612,389.000 Aug 2023 monthly Jan 1988 - Aug 2023
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) 1,148.7 Jun 2023 quarterly Mar 1994 - Jun 2023
Current Account Balance (USD mn) 27,310.5 Mar 2023 quarterly Mar 1981 - Mar 2023
Current Account Balance: % of GDP (%) 14.4 Jun 2023 quarterly Mar 1981 - Jun 2023
Foreign Direct Investment (USD mn) -1,763.3 Jun 2023 quarterly Mar 2005 - Jun 2023
Foreign Direct Investment: % of GDP (%) -0.9 Dec 2022 quarterly Mar 2005 - Dec 2022
Foreign Portfolio Investment (USD mn) -4,157.095 Jun 2023 quarterly Mar 1994 - Jun 2023
Foreign Portfolio Investment: % of GDP (%) -3.7 Jun 2023 quarterly Mar 1994 - Jun 2023
Foreign Portfolio Investment: Equity Securities (USD mn) -1,416.9 Jun 2023 quarterly Mar 2005 - Jun 2023
Foreign Portfolio Investment: Debt Securities (USD mn) -2,740.158 Jun 2023 quarterly Mar 2005 - Jun 2023
External Debt (USD mn) 737,752.2 Jun 2023 quarterly Mar 2003 - Jun 2023
External Debt: % of GDP (%) 135.8 2022 yearly 2003 - 2022
External Debt: Short Term (USD mn) 332,971.2 Dec 2022 quarterly Mar 2012 - Dec 2022
External Debt: Short Term: % of GDP (%) 58.8 2022 yearly 2012 - 2022
Total Debt: % of GDP (%) 535.6 Jun 2023 quarterly Dec 1995 - Jun 2023
Forecast: Current Account Balance (USD bn) 86.845 2028 yearly 1980 - 2028
Net International Investment Position (USD mn) 1,383,663.405 Jun 2023 quarterly Mar 2012 - Jun 2023
BoP: Financial Account (FA): Foreign Assets (NOK mn) 102,490.000 Jun 2023 quarterly Mar 2005 - Jun 2023
BoP: FA: Foreign Assets: Direct Investment (DI) (NOK mn) 12,294.000 Jun 2023 quarterly Mar 2005 - Jun 2023
BoP: FA: Foreign Assets: Portfolio Investment (PI) (NOK mn) 258,647.000 Jun 2023 quarterly Mar 2005 - Jun 2023
BoP: FA: Foreign Assets: Other Investments (NOK mn) -171,135.000 Jun 2023 quarterly Mar 2005 - Jun 2023
BoP: FA: Foreign Liabilities: Direct Investment (DI) (NOK mn) -18,872.000 Jun 2023 quarterly Mar 2005 - Jun 2023
BoP: FA: Foreign Liabilities (NOK mn) -160,624.000 Jun 2023 quarterly Mar 2005 - Jun 2023
BoP: FA: Foreign Assets: Reserve Assets (NOK mn) 2,684.000 Jun 2023 quarterly Mar 2005 - Jun 2023
BoP: FA: Foreign Liabilities: Other Investments (NOK mn) -97,260.000 Jun 2023 quarterly Mar 2005 - Jun 2023
BoP: FA: Foreign Liabilities: Portfolio Investment (PI) (NOK mn) -44,492.000 Jun 2023 quarterly Mar 2005 - Jun 2023
BoP: BI: Net Current Transfers (NOK mn) -24,571.000 Jun 2023 quarterly Mar 1981 - Jun 2023
BoP: BI: Net Compensation of Employees and Investment Income (NOK mn) 61,807.000 Jun 2023 quarterly Mar 1981 - Jun 2023
BoP: Current Account Balance (NOK mn) 171,339.000 Jun 2023 quarterly Mar 1981 - Jun 2023
IIP: Foreign Liabilities (NOK mn) 10,595,950.000 Jun 2023 quarterly Mar 2012 - Jun 2023
IIP: Foreign Assets (NOK mn) 25,416,092.000 Jun 2023 quarterly Mar 2012 - Jun 2023
Gross External Debt (NOK mn) 7,901,916.000 Jun 2023 quarterly Mar 2012 - Jun 2023
Gross Debt: External Loan Debt: General Public (NOK mn) 1,222,575.000 Dec 2018 quarterly Dec 2015 - Dec 2018
Foreign Direct Investment: Stock (NOK mn) 1,453,884.000 2021 yearly 2004 - 2021
Direct Investment Abroad: Stock: Equity Capital: Belgium (NOK mn) 3,813.000 2021 yearly 1998 - 2021
Direct Investment Abroad: Stock: Equity Capital: Africa (NOK mn) 15,219.000 2021 yearly 2004 - 2021
Direct Investment Abroad: Stock: Equity Capital: Netherlands (NOK mn) 184,148.000 2021 yearly 1998 - 2021
Direct Investment Abroad: Stock: Equity Capital: Singapore (NOK mn) 87,288.000 2021 yearly 1998 - 2021
Direct Investment Abroad: Stock: Equity Capital: Sweden (NOK mn) 265,470.000 2021 yearly 1998 - 2021
Direct Investment Abroad: Stock: Equity Capital (NOK mn) 1,701,383.000 2017 yearly 2004 - 2017
No of Bankruptcies: SIC 2007 (Unit) 1,068.000 Jun 2023 quarterly Mar 2006 - Jun 2023
No of New Registered Enterprises (Unit) 15,277.000 Jun 2023 quarterly Mar 2001 - Jun 2023
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 0.5 2021 yearly 1990 - 2021
Household Debt: % of GDP (%) 85.1 Jun 2023 quarterly Dec 1995 - Jun 2023
Money Supply M1 (USD mn) 276,494.714 Jul 2023 monthly Dec 1992 - Jul 2023
Money Supply M2 (USD mn) 307,978.598 Jul 2023 monthly Dec 1992 - Jul 2023
M2 Growth (%) -0.7 Jul 2023 monthly Dec 1993 - Jul 2023
Reserve Requirement Ratio (%) 3.0 Aug 2023 monthly Oct 2011 - Aug 2023
Foreign Exchange Reserves (USD mn) 70,200.5 Aug 2023 monthly Jan 1999 - Aug 2023
Foreign Exchange Reserves: % of GDP (%) 14.070 Jun 2023 quarterly Mar 1999 - Jun 2023
Foreign Exchange Reserves: Months of Import (NA) 9.5 Aug 2023 monthly Jan 1999 - Aug 2023
Gold Reserves (USD mn) 0.000 Aug 2023 monthly Dec 1959 - Aug 2023
Total Deposits (USD mn) 492,567.425 Jul 2023 monthly May 2009 - Jul 2023
Total Deposits Growth (%) 1.4 Jul 2023 monthly May 2010 - Jul 2023
Domestic Credit (USD mn) 707,377.8 Jul 2023 monthly Dec 1985 - Jul 2023
Domestic Credit Growth (%) 4.4 Jul 2023 monthly Dec 1986 - Jul 2023
Debt Service Ratio: Households (%) 12.900 Dec 2022 quarterly Mar 1999 - Dec 2022
Debt Service Ratio: Private Non-Financial Sector (%) 24.200 Dec 2022 quarterly Mar 1999 - Dec 2022
Credit to Households (USD bn) 435.051 Dec 2022 quarterly Mar 1975 - Dec 2022
Credit to Private Non-Financial Sector (USD bn) 1,080.217 Dec 2022 quarterly Dec 1953 - Dec 2022
Household Debt (USD mn) 430,059.9 Jun 2023 quarterly Dec 1995 - Jun 2023
Total Loans (USD mn) 726,685.962 Jun 2023 monthly Mar 1996 - Jun 2023
Total Loans Growth (%) 6.05 Jun 2023 monthly Mar 1997 - Jun 2023
Private Debt: % of Nominal GDP (%) 111.09 Jun 2023 quarterly Mar 1996 - Jun 2023
Official Reserve Assets (NOK mn) 840,861.000 Aug 2023 monthly Jan 1999 - Aug 2023
Official Reserve Assets: FR: Foreign Currency (FC) (NOK mn) 680,197.000 Aug 2023 monthly Jan 1999 - Aug 2023
Bank Deposits: Households (NOK mn) 1,255,207.000 Jan 2019 monthly Dec 1989 - Jan 2019
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) -0.8 Aug 2023 monthly Feb 2005 - Aug 2023
Purchasing Manager Index: sa (NA) 56.310 Feb 2019 monthly Feb 2004 - Feb 2019

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