Norway

Norway exhibits an extraordinarily high GDP per capita, nearing $87,500, placing it among the wealthiest nations globally. This immense wealth is striking given its relatively small population of just over 5.6 million people, highlighting the massive economic output generated primarily through natural resources (oil, gas, hydropower) and efficient governance.

The Norwegian economy shows signs of near full employment with a very low unemployment rate of 3.572%. However, this strong labor market coincides with a relatively high inflation rate of 5.518% (2023), suggesting potential overheating or significant external price pressures affecting consumer purchasing power.

Norway demonstrates exceptional public health outcomes, evidenced by a high life expectancy of 83.11 years. Furthermore, the infant mortality rate is remarkably low at 1.9 per 1,000 live births, indicating a highly developed healthcare system and strong maternal and child welfare programs.

Norway faces a significant demographic challenge with a fertility rate of only 1.40 children per woman, far below the replacement level of 2.1. This low rate suggests that, without sustained net migration, the native population is likely to decline and age rapidly in the coming decades, straining social security systems.