Key information about Norway Government Debt: % of GDP

• Norway Government debt accounted for 55.1 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 44.5 % in the previous year.
• Norway government debt to GDP ratio data is updated yearly, available from Dec 1995 to Dec 2024.
• The data reached an all-time high of 55.1 % in Dec 2024 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 251.8 USD bn in Dec 2024.
• The country's Nominal GDP reached 128.6 USD bn in Mar 2023.

The national debt of Norway was estimated at about ************** U.S. dollars in 2024. From 1980 to 2024, the national debt rose by approximately ************** U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. Between 2024 and 2030, the national debt will rise by around ************* U.S. dollars, showing an overall upward trend with periodic ups and downs.

Key information about Norway National Government Debt

• Norway National Government Debt reached 251.8 USD bn in Dec 2024, compared with 224.3 USD bn in the previous year.
• Norway National Government Debt data is updated yearly, available from Dec 1995 to Dec 2024.
• The data reached an all-time high of 251.8 USD bn in Dec 2024 and a record low of 36.2 USD bn in Dec 1998.

CEIC converts annual Government Debt into USD. Statistics Norway provides Government Debt in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions.


Related information about Norway National Government Debt

• In the latest reports, Norway Consolidated Fiscal Balance registered a surplus equal to 13.2 % of its Nominal GDP in Dec 2024.
• The country's Government debt accounted for 55.1 % of its Nominal GDP in Dec 2024.
• Norway Nominal GDP reached 128.6 USD bn in Mar 2023.

Government Debt in Norway increased to 886430 NOK Million in the first quarter of 2025 from 773551 NOK Million in the fourth quarter of 2024. This dataset provides - Norway Government Debt- actual values, historical data, forecast, chart, statistics, economic calendar and news.

As shown in this statistic, the ratio of national debt to gross domestic product (GDP) of Norway is approximately 42.72 percent in 2025.Fluctuating decline between 1980 and 2025Compared to the earliest depicted observation from 1980 there is a total decrease by approximately 4.96 percentage points. Looking at the trajectory between 1980 and 2025, one can observe that this decrease however did not happen continuously.Fluctuating decline between 2025 and 2030In 2030 the ratio will lie at about 40 percent, according to forecasts. From 2025 onwards, there is an overall decrease by approximately 2.72 percentage points.The general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. Here it is depicted in relation to the country's GDP, which refers to the total value of goods and services produced during a year.

Key information about Norway External Debt

• Norway External Debt reached 733.1 USD bn in Dec 2024, compared with 747.6 USD bn in the previous quarter.
• Norway External Debt: USD mn data is updated quarterly, available from Mar 2003 to Dec 2024.
• The data reached an all-time high of 747.6 USD bn in Sep 2024 and a record low of 204.9 USD bn in Mar 2003.

CEIC converts quarterly External Debt into USD. Statistics Norway provides External Debt in local currency based on BPM6. The Federal Reserve Board period end market exchange rate is used for currency conversions. External Debt prior to Q1 2012 is based on BPM5.


Related information about Norway External Debt

• In the latest reports of Norway, Current Account recorded a surplus of 27.3 USD bn in Mar 2023.
• Foreign Direct Investment (FDI) fell by 1.9 USD bn in Sep 2024.
• Norway Direct Investment Abroad fell by 53.1 USD mn in Sep 2024.
• Its Foreign Portfolio Investment increased by 6.3 USD bn in Sep 2024.
• The country's Nominal GDP was reported at 128.6 USD bn in Mar 2023.

Graph and download economic data for Central government debt, total (% of GDP) for Norway (DEBTTLNOA188A) from 1990 to 1994 about Norway, debt, government, and GDP.

Key information about Norway External Debt: Short Term: % of GDP

• Norway External Debt: Short Term accounted for 46.6 % of the country's Nominal GDP in 2022, compared with the ratio of 51.5 % in the previous year.
• Norway External Debt: Short Term: % of Nominal GDP data is updated yearly, available from 2012 to 2022.
• The data reached an all-time high of 57.3 % in 2020 and a record low of 43.6 % in 2012.

CEIC calculates Short Term External Debt as % of Nominal GDP from quarterly Short Term External Debt and annual Nominal GDP. Short Term External Debt is calculated as the sum of Short Term External Debt breakdowns for General Government, Central Bank, Deposit-Taking Corporations excl Central Bank and Other Sectors. Statistics Norway provides Short Term External Debt in local currency and Nominal GDP in local currency.


Related information about Norway External Debt: Short Term: % of GDP

• In the latest reports of Norway, Current Account recorded a surplus of 27.3 USD bn in Mar 2023.
• Foreign Direct Investment (FDI) fell by 1.9 USD bn in Sep 2024.
• Norway Direct Investment Abroad fell by 53.1 USD mn in Sep 2024.
• Its Foreign Portfolio Investment increased by 6.3 USD bn in Sep 2024.
• Norway External Debt: Short Term value stood at 261.4 USD bn in Dec 2022.
• The country's Nominal GDP was reported at 128.6 USD bn in Mar 2023.

External Debt in Norway decreased to 8019908 NOK Million in the first quarter of 2025 from 8331930 NOK Million in the fourth quarter of 2024. This dataset provides - Norway External Debt - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Norway: Government debt as percent of GDP: The latest value from 2023 is 44.3 percent, an increase from 36.5 percent in 2022. In comparison, the world average is 61.85 percent, based on data from 137 countries. Historically, the average for Norway from 1980 to 2023 is 37.41 percent. The minimum value, 22.94 percent, was reached in 1998 while the maximum of 52.56 percent was recorded in 1993.

Graph and download economic data for Outstanding Domestic Public Debt Securities to GDP for Norway (DDDM04NOA156NWDB) from 1995 to 2020 about Norway, public, debt, securities, domestic, and GDP.

Households Debt in Norway remained unchanged at 88.60 percent of GDP in the fourth quarter of 2024 from 88.60 percent of GDP in the third quarter of 2024. This dataset provides - Norway Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Norway Household Debt: % of GDP

• Norway household debt accounted for 91.3 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 90.4 % in the previous quarter.
• Norway household debt to GDP ratio is updated quarterly, available from Dec 1995 to Dec 2024.
• The data reached an all-time high of 116.3 % in Dec 2020 and a record low of 55.5 % in Mar 2001.

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


Related information about Norway Household Debt: % of GDP

• In the latest reports, Norway Household Debt reached 443.2 USD bn in Sep 2024.
• Money Supply M2 in Norway increased 5.1 % YoY in Jan 2025.
• Norway Foreign Exchange Reserves was measured at 79.0 USD bn in Feb 2025.
• The Foreign Exchange Reserves equaled 10.5 Months of Import in Jan 2025.
• Norway Domestic Credit reached 667.0 USD bn in Jan 2025, representing an increased of 3.7 % YoY.
• The country's Non Performing Loans Ratio stood at 0.4 % in Dec 2022, compared with the ratio of 0.3 % in the previous year.

Historical dataset showing Norway national debt by year from 1990 to 2022.

Private Debt to GDP in Norway decreased to 186.20 percent in 2024 from 187 percent in 2023. Norway Private Debt to GDP - values, historical data, forecasts and news - updated on July of 2025.

Key information about Norway Private Debt: % of Nominal GDP

• Norway Private Debt accounted for 120.03 % of its Nominal GDP in Dec 2024, compared with a ratio of 119.77 % in the previous quarter
• Norway Private Debt contribution to Nominal GDP ratio is updated quarterly, available from Mar 1996 to Dec 2024, with an average share of 114.13 %
• The data reached an all-time high of 152.02 % in Mar 2021 and a record low of 75.51 % in Dec 1996

CEIC calculates quarterly Private Debt as % of Nominal GDP from monthly Private Debt and quarterly Nominal GDP. Private Debt is calculated as the sum of Loans to Non Financial Corporations, Households and NPISHs. Statistics Norway provides Private Debt in local currency and Nominal GDP in local currency.

Graph and download economic data for Outstanding Total International Debt Securities to GDP for Norway (DDDM07NOA156NWDB) from 1980 to 2002 about Norway, issues, debt, and GDP.

In 2024, Finland had the highest debt rate of the Nordic countries, followed by Iceland. In 2011, Iceland's debt rate was over 138 percent of the country's gross domestic product (GDP), but it had decreased to 59 percent in 2024. Finland's debt rate, on the other hand, increased from 50 percent in 2010 to 80 percent in 2024. Debt rates of the three other Nordic countries were more stable, and were between 29 and 38 percent in 2024.

Households Debt in Norway increased to 210.38 percent of gross income in 2022 from 206.25 percent in 2021. This dataset provides - Norway Households Debt To Income- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Norway Household Debt

• Norway Household Debt reached 417.6 USD bn in Dec 2024, compared with the reported number of 443.6 USD bn in the previous quarter
• Norway Household Debt: USD mn data is updated quarterly, available from Dec 1995 to Dec 2024
• The data reached an all-time high of 488.2 USD bn in Mar 2022 and a record low of 85.5 USD bn in Jun 1997

CEIC converts quarterly Household Debt into USD. Statistics Norway provides Household Debt in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions.


Further information about Norway Household Debt

• In the latest reports, Norway Household Debt accounted for 91.3 % of the country's Nominal GDP in Dec 2024
• Money Supply M2 in Norway increased 288.6 USD bn YoY in Jan 2025
• Norway Foreign Exchange Reserves was measured at 79.0 USD bn in Feb 2025
• The Foreign Exchange Reserves equaled 10.5 Months of Import in Jan 2025
• Norway Domestic Credit reached 667.0 USD bn in Jan 2025, representing an increased of 3.7 % YoY