NorwayKapitel
Norway’s economy is heavily supported by its natural resources, especially oil and gas, which drive exports, government revenue, and investment. The mainland economy (excluding oil) faces a structural deficit, and growth is constrained by high household debt, rising labour costs, and labour shortages. The services sector, shipping, and industrial production provide additional support, while government spending and the sovereign wealth fund help stabilise public finances. Inflation has been moderate but remains a concern, and external factors such as global energy prices influence economic performance. Overall, growth is expected to continue at a steady pace, with domestic consumption, investment, and energy activity as key drivers.
Source: Coface
Kennzahlen
- Fläche
- 323,802 sq km
- Bevölkerung
- 5,572,279 (2024)
- Regierungsform
- parliamentary constitutional monarchy
- Sprachen
- Bokmal Norwegian (official), Nynorsk Norwegian (official), small Sami- and Finnish-speaking minorities
- BIP
- $483.59 billion (2024)
- Wachstumsrate
- 2.1% (2024)
- HDI
- 2
- Hauptstadt
- Oslo
Makroökonomische Indikatoren
Mainland GDP is projected to increase by 1.7% in 2026 and 1.5% in 2027. Solid growth in household disposable income will support private consumption. Non-oil business investment will be held back for some time due to heightened uncertainty. Lower demand from trading partners is affecting mainland exports. Wage pressures will remain strong compared with productivity growth, slowing the disinflation process.
The central bank began cutting the policy rate in mid-2025, and the monetary policy stance should gradually become less restrictive, as inflation declines. Fiscal policy is set to remain very expansionary in 2026, further worsening the structural non-oil budget balance. A gradual tightening should start in 2027. Reducing administrative burdens for firm start-ups would spur productivity, while reducing regulatory uncertainty would help firms to undertake innovations and achieve environmental objectives.
Source: OECD – Economic Outlook
IMF Statistics:
| Subject descriptor | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|
|
All Items, Consumer price index (CPI), Period average, percent change Percent (Units) |
5.518 |
3.145 |
2.4 |
2.4 |
2.0 |
|
Current account balance (credit less debit), Percent of GDP Percent (Units) |
17.38 |
16.701 |
16.189 |
15.861 |
15.081 |
|
Current account balance (credit less debit), US dollar US dollar (Billions) |
83.935 |
80.763 |
83.715 |
86.867 |
85.366 |
|
Exports of goods and services, Volume, Free on board (FOB), Percent change Percent (Units) |
0.44 |
5.239 |
1.459 |
1.165 |
1.553 |
|
Gross domestic product (GDP), Constant prices, Percent change Percent (Units) |
0.072 |
2.097 |
1.181 |
1.615 |
1.555 |
|
Gross domestic product (GDP), Current prices, Per capita, US dollar US dollar (Units) |
87276.15 |
86587.079 |
91883.687 |
96580.338 |
99060.801 |
|
Gross domestic product (GDP), Current prices, US dollar US dollar (Billions) |
482.95 |
483.593 |
517.102 |
547.693 |
566.059 |
|
Imports of goods and services, Volume, Cost insurance freight (CIF), Percent change Percent (Units) |
-1.526 |
4.262 |
1.052 |
1.278 |
2.13 |
|
Unemployment rate |
3.595 |
4.013 |
4.3 |
4.2 |
4.1 |
Estimates
Source: IMF Statistics - Norway
Luxemburg und das Land
Existing conventions and agreements
Non double taxation agreement
In order to promote international economic and financial relations in the interest of the Grand Duchy of Luxembourg, the Luxembourg government negotiates bilateral agreements for the avoidance of double taxation and prevent fiscal evasion with respect to Taxes on Income and on fortune with third countries.
- Convention from 06.05.1983 (Memorial 1984, A No.108, p.2024)
- Effective as of 01.01.1986 ((Memorial 1984, A No.108, p.2024)
- Amendment of the Convention from 07.07.2009 (Memorial 2010, A, No.51, p.910)
- Effective as of 01.01.2011 (Memorial 2010, A, No.51, p.910)
Air Services agreement
- Agreement from 11.17.1952 (Memorial 1953, p. 735)
- Effective as of 31.07.1953 (Memorial 1953, p. 1079)
Weitere Informationen
Foreign Trade
The Statec Foreign Trade statistics provide information on the trade of goods - by product and by country. This information is collected respectively through the INTRASTAT declaration and on the basis of customs documents.
You can see the statistics on the website of the Statec.
Contact Points in Norway
Embassy of the Grand Duchy of Luxembourg in Copenhagen
Ambassador with residence in Copenhagen: Mr Henri SCHUMACHER
05, Fridtjof Nansens Plads
DK - 2100 Copenhagen
Denmark
Tel.: (+45) 35 26 82 00
Fax: (+45) 35 26 82 08
E-Mail: copenhague.amb@mae.etat.lu
Website: copenhague.mae.lu
Honorary consuls
Oslo
Honorary Consul with jurisdiction over the Regions of Oslo, Ostfold, Vestfold, Telemark, Austagder, Vestagder, Rogaland, Fjordaland, Sogn og Fjordane, Oppland, Hedmark, and Buskerud:
Mr Ole Jacob SUNDE
Olav Selvaags plass 4
0252 Oslo
Norway
Tel.: (+47) 24 12 44 00
E-mail: oslo@consul-hon.lu
Trondheim
Honorary Consul with jurisdiction over the regions of Mog og Romsdal, Sor-Trondelag, Nord-Trondelag, Nordland, Troms, and Finmark:
Mr Ole BJØRNEVIK
Poppelvegen 9
N-7067 Jakobsli
Norway
Tel.: (+47) 73 99 11 60; (+47) 92 61 45 10
E-Mail: trondheim@consul-hon.lu
Source: Ducroire Office – Country Risk for Norway
Country risk as defined by Office du Ducroire for Norway
Ducroire is the only credit insurer covering open account deals in over 200 countries. A rating on a scale from 1 to 7 shows the intensity of the political risk. Category 1 comprises countries with the lowest political risk and category 7 countries with the highest. Macroeconomics experts also assess the repayment climate for all buyers in a country.
Link: Office DuCroire - Country risk Norway