Norway: Fiscal balance, percent of GDP

* indicates monthly or quarterly data series
 Norway

Fiscal balance, percent of GDP

 Latest value 16.32
 Year 2023
 Measure percent
 Data availability 1981 - 2023
 Average 7.82
 Min - Max -2.56 - 25.56
 Source Statistics Norway
For that indicator, we provide data for Norway from 1981 to 2023. The average value for Norway during that period was 7.82 percent with a minimum of -2.56 percent in 2020 and a maximum of 25.56 percent in 2022. The latest value from 2023 is 16.32 percent. For comparison, the world average in 2023 based on 112 countries is -3.16 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent values chart
Norway - Fiscal balance, percent of GDP - Recent values chart

Historical chart
Norway - Fiscal balance, percent of GDP - historical chart - 1981-2023




Definition: The fiscal (budget) balance is the difference between government revenue and government expenditure. We express the value as percent of GDP to relate it to the size of the economy.

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 Related indicators Latest value Reference Measure
 Government spending, percent of GDP 18.19 2022 percent
 Government spending, in dollars 106.48 2023 billion U.S. dollars
 Fiscal balance, percent of GDP 16.32 2023 percent
 Government debt 44.30 2023 percent
 Government expenditure 278.96 Q3/2023 billion
 Long-term government bond yield 3.82 9/2023 percent
 Tax revenue 25.08 2021 percent
 Commercial tax rate 36.20 2019 percent
 Tax preparation time 79 2019 hours
 Number of taxes 5 2019 taxes
 Taxes on goods and services 22.70 2021 percent
 Taxes on international trade 0.21 2021 percent
 Income and profits taxes 30.16 2021 percent
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