Norway: Oil rents (% of GDP)
In , Norway's Oil rents (% of GDP) was 6.06.
That's up 87.7% from 2020, the highest value since .
The global average for this indicator in 2021 was 2.59 . Norway ranks #23 globally out of 190 reporting countries. Within Europe & Central Asia, it ranks #4 of 49.
Source: World Bank Open Data (NY.GDP.PETR.RT.ZS) • Data as of 2021
Trend (2002–2021)
- 2008 · Global financial crisis
- 2020 · COVID-19 pandemic
- 2014 · Oil price collapse
Highlights
- Peak
- 9.87
- Trough
- 2.60
- 1-year change
- +87.7%
- 5-year change
- +132.8%
- +18.4% / yr
- 10-year change
- -19.2%
- -2.1% / yr
Historical Data — Last 10 Years
| Year | Oil rents (% of GDP) |
|---|---|
| 6.0635 | |
| 3.2298 | |
| 4.5380 | |
| 4.9672 | |
| 3.6354 | |
| 2.6046 | |
| 3.1461 | |
| 5.5423 | |
| 5.5493 | |
| 6.4671 |
About Oil rents (% of GDP)
Oil rents are the difference between the value of crude oil production at regional prices and total costs of production.
Indicator code: NY.GDP.PETR.RT.ZS • Category: Economy
Frequently asked questions
- What was Norway's Oil rents (% of GDP) in 2021?
- In 2021, Norway's Oil rents (% of GDP) was 6.06, according to World Bank Open Data.
- Is Norway's Oil rents (% of GDP) rising or falling?
- Norway's Oil rents (% of GDP) rose 87.7% from 2020 to 2021.
- How does Norway rank globally on Oil rents (% of GDP)?
- In 2021, Norway ranked #23 out of 190 countries reporting Oil rents (% of GDP).
- How does Norway's Oil rents (% of GDP) compare to the world average?
- The global average for Oil rents (% of GDP) in 2021 was 2.59, so Norway is above the world average. Within Europe & Central Asia, it ranks #4 of 49.
- What is Oil rents (% of GDP) and how is it measured?
- Oil rents are the difference between the value of crude oil production at regional prices and total costs of production.
Source: World Bank Open Data (NY.GDP.PETR.RT.ZS), CC BY 4.0.