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COMPETITIVENESS TRENDS - OVERALL

NORWAY
OVERALL PERFORMANCE
05

06

07
12

BASIC FACTS
08
11

13

15

09
11

CHALLENGES IN 2009
Further action to ease the financial
difficulties businesses are facing.
Invest government petroleum revenues in
areas promoting economic growth.
Adopt policies to increase the quality of
education.
Develop a better framework for private
research and development.
Abolish the wealth tax on business capital.

Domestic Economy

International Trade

International Investment

Employment

Capital

Oslo

2
Land area (km '000)

323.8 (2008)

Exchange rate (per $)

5.64 (2008)

Population (millions)

4.80 (2008)

49

GDP ($ billions)

450.3 (2008)

23

GDP (PPP) per capita ($)

53,481 (2008)

Real GDP growth (%)

2.0 (2008)

32

Consumer Price Inflation (%)

3.8 (2008)

15

Unemployment rate (%)

2.6 (2008)

Labor force (millions)

2.59 (2008)

48

Current Account Balance (%)

18.3 (2008)

Stocks Inward ($ billions)

93.7 (2007)

30

Flows Inward (% of GDP)

-0.5 (2008)

54

Direct Investment

Prices

Public Finance

Provided by :
NHO - Confederation of Norwegian Enterprise

Rank

Fiscal Policy

Institutional Framework

COMPETITIVENESS LANDSCAPE

Business Legislation

Societal Framework

ECONOMIC
PERFORMANCE

GOVERNMENT
EFFICIENCY

BUSINESS
EFFICIENCY

Productivity & Efficiency

Labor Market

11

13

INFRASTRUCTURE
1

2
9

Finance

12

10

15

Management Practices

Attitudes and Values

17

18

19

Basic Infrastructure

Tech. Infrastructure

28
Scientific Infrastructure

36
43
Health and Environment

50

Education

Health and Environment

Scientific Infrastructure

Tech. Infrastructure

Basic Infrastructure

Attitudes and Values

Management Practices

Finance

Labor Market

Productivity & Efficiency

Societal Framework

Business Legislation

Institutional Framework

Fiscal Policy

Public Finance

Prices

Employment

International Investment

International Trade

Domestic Economy

Education

PEER GROUP RANKINGS

EUROPE - MIDDLE EAST - AFRICA

05

06

200

07
7

POPULATIONS < 20 MILLION

08
8

09
6

05

06

IMD WORLD COMPETITIVENESS YEARBOOK 2009

11

07
9

08
10

09
8

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COMPETITIVENESS EVOLUTION

NORWAY
The criteria below highlight the 15 biggest Improvements and the 15 biggest Declines in the overall
performance of the economy. They are determined by the largest percentage changes in
the value of each criterion from one year to the next.

IMPROVEMENTS

WCY
2008

WCY
2009

1.3.01

Direct investment flows abroad US$ billions

12.50

26.86

1.3.02

Direct investment flows abroad % of GDP

3.22

5.97

4.5.16

Qualified engineers are available in your labor market. (Survey)

4.11

6.44

3.2.16

Skilled labor is readily available. (Survey)

4.28

6.33

1.4.07

Long-term unemployment % of labor force

0.50

0.30

4.5.12

University education meets the needs of a competitive economy. (Survey)

5.12

6.87

4.5.11

The educational system meets the needs of a competitive economy. (Survey)

1.2.07

Exports of goods US$ billions

4.3.13

Science in schools is sufficiently emphasized. (Survey)

4.5.17

Knowledge transfer is highly developed between companies and universities. (Survey)

4.98

6.00

2.4.10

State ownership of enterprises is not a threat to business activities. (Survey)

4.46

5.37

2.2.12

Real personal taxes do not discourage people from working or seeking advancement. (Survey)

3.65

4.36

3.2.17

Finance skills are readily available. (Survey)

6.07

7.24

2.5.03

Ageing of society is not a burden for economic development. (Survey)

4.42

5.26

2.3.12

Bribing and corruption do not exist (Survey)

5.54

6.51

WCY
2008

WCY
2009

DECLINES

4.36

5.70

136.36

167.94

3.26

4.00

1.5.01

Consumer price inflation Average annual rate

0.8

3.8

1.3.06

Direct investment flows inward US$ billions

3.79

-2.19

1.3.07

Direct investment flows inward % of GDP

0.97

-0.49

1.1.16

Real GDP Growth per capita % change, based on national currency in constant prices

2.62

-0.53

1.1.14

Real GDP Growth % change, based on national currency in constant prices

3.7

2.0

3.3.17

Credit is easily available for businesses. (Survey)

7.47

4.11

3.3.18

Venture capital is easily available for businesses. (Survey)

6.56

3.96

3.3.05

Banking and financial services do support business activities efficiently. (Survey)

7.86

4.87

3.3.09

Stock markets provide adequate financing to companies. (Survey)

7.54

4.96

4.1.25

Electricity costs for industrial clients US$ per kwh

0.048

0.064

2.1.07

Central government foreign debt % of GDP

22.64

28.07

3.3.07

Finance and banking regulation is sufficiently effective. (Survey)

8.56

6.52

2.4.06

Capital markets (foreign and domestic) are easily accessible. (Survey)

8.36

6.83

2.4.07

Investment incentives are attractive to foreign investors. (Survey)

5.71

4.74

3.2.01

Compensation levels Total hourly compensation for manufacturing workers, US$

41.65

48.54

IMD WORLD COMPETITIVENESS YEARBOOK 2009

201

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COMPETITIVENESS TRENDS - FACTOR BREAKDOWN

NORWAY

ECONOMIC PERFORMANCE
05

06

07

08

09
10

18

19

23

26

Sub-Factor Rankings :

2009

Domestic Economy
International Trade
International Investment
Employment
Prices

5
13
36
6
50

Strengths
1.2.02
1.1.21
1.1.22
1.2.19
1.4.06

1
2
3
4
5

Current account balance Percentage of GDP

GDP per capita US$ per capita
GDP (PPP) per capita Estimates; US$ per capita at purchasing power parity
Terms of trade index Unit value of exports over unit value of imports (2000 = 100)
Unemployment rate Percentage of labor force

Weaknesses
1.5.02
1.3.07
1.3.06
1.1.16
1.2.20

Cost-of-living index Index of a basket of goods & services in major cities, including housing (New York City = 100)
Direct investment flows inward Percentage of GDP
Direct investment flows inward US$ billions
Real GDP Growth per capita Percentage change, based on national currency in constant prices
Tourism receipts International tourism receipts as a percentage of GDP

54
54
54
46
44

GOVERNMENT EFFICIENCY
05

06

07

08

09

10
15

11
15

15

Sub-Factor Rankings :

2009

Public Finance
Fiscal Policy
Institutional Framework
Business Legislation
Societal Framework

6
43
11
18
2

Strengths
2.1.02
2.1.10
2.5.05
2.3.04
2.4.20

Government budget surplus/deficit Percentage of GDP

Pension funding is adequately addressed for the future. (Survey)
Social cohesion is a priority for the government. (Survey)
Country credit rating Rating on a scale of 0-100 assessed by the Institutional Investor Magazine ranking
Firing costs Number of weeks of salary

1
2
2
3
13

Weaknesses
2.2.01
2.2.09
2.2.07
2.1.04
2.3.06

202

Collected total tax revenues Percentage of GDP

Consumption tax rate Standard rate of VAT / GST
Effective personal income tax rate Percentage of an income equal to GDP per capita
Total general government debt Percentage of GDP
Exchange rate stability Parity change from national currency to SDR, 2008 / 2006

IMD WORLD COMPETITIVENESS YEARBOOK 2009

52
48
48
48
43

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COMPETITIVENESS TRENDS - FACTOR BREAKDOWN

NORWAY

BUSINESS EFFICIENCY
05

06

07

09

Sub-Factor Rankings :

2009

Productivity & Efficiency

Labor Market
Finance
Management Practices
Attitudes and Values

9
28
12
10
17

10

13

14

15

18

08

Strengths
3.5.07
3.1.04
3.1.01
3.3.04
3.4.08

1
2
2
2
2

Corporate values take into account the values of employees. (Survey)

Labor productivity (PPP) Estimates: GDP (PPP) per person employed per hour, US$
Overall productivity (PPP) Estimates: GDP (PPP) per person employed, US$
Investment risk Euromoney country credit-worthiness scale from 0-100
Social responsibility of business leaders is high (Survey)

Weaknesses
3.2.05
3.2.03
3.2.01
3.2.21
3.2.02

Working hours Average number of working hours per year

Remuneration in services professions Gross annual income including supplements such as bonuses, in US$
Compensation levels Total hourly compensation for manufacturing workers (wages + supplementary benefits), US$
International experience of senior managers is generally significant (Survey)
Unit labor costs in the manufacturing sector Percentage change

55
51
49
45
37

INFRASTRUCTURE
05

06
9

07
8

08
9

Sub-Factor Rankings :

09

10

Basic Infrastructure
Technological Infrastructure
Scientific Infrastructure
Health and Environment
Education

10

2009
1
15
19
3
6

Strengths
4.4.24
4.2.08
4.2.09
4.2.11
4.3.07

Environmental laws and compliance do not hinder the competitiveness of businesses. (Survey)
Computers per capita Number of computers per 1000 people / Source: Computer Industry Almanac
Internet users Number of internet users per 1000 people / Source: Computer Industry Almanac
Broadband subscribers Number of subscribers per 1000 inhabitants
Total R&D personnel nationwide per capita Full-time work equivalent (FTE) per 1000 people

1
3
4
5
8

Weaknesses
4.2.10
4.2.03
4.3.13
4.2.07
4.1.10

Fixed Broadband Tariffs Monthly fee (residential), US$

Fixed telephone tariffs US$ per 3 minutes local call (peak)
Science in schools is sufficiently emphasized. (Survey)
Computers in use Worldwide share / Source: Computer Industry Almanac
Dependency ratio Population under 15 and over 64 years old, divided by active population (15 to 64 years)

52
47
40
39
38

IMD WORLD COMPETITIVENESS YEARBOOK 2009

203