Norway Economic Snapshot
September 2023
Economic Policy Reforms: Going for Growth 2023 - Norway
Economic Survey of Norway (February 2022)
Norway has been more successful than many countries in limiting the spread and impact of COVID‑19. The country has maintained good outcomes on many economic and social indicators. GDP per capita remains among the highest in the OECD. However, there are challenges in sustaining good outcomes amid post‑pandemic economic adjustment, continued population aging and the urgency of tackling climate change. Labour force participation needs to increase to ensure the high levels of employment that are key to Norway’s socio‑economic model. Higher productivity growth is essential for businesses to remain competitive. Meanwhile, economic activity must continue to adjust to achieve a faster decline in greenhouse‑gas emissions.