Australia and Norway Economies: A Side-by-Side Table Comparison

In comparing Australia and Norway, Australia boasts a population nearly 5 times larger and a land area 12.5 times greater. While its GDP is about 2.85 times larger, GDP per capita is notably lower. Australia also spends significantly more on its military and imports, yet Norway’s exports are vital to its economy.

Basic Indicators

Indicator	Australia	Norway	Comparison
Population source (2022 data), updated 2024	26.01 million (54th)	5.46 million (114th)	Australia’s population is approximately 4.76 times larger than Norway’s.
Surface area (sq. km) source (2022 data), updated 2024	7.74 million sq. km (6th)	0.62 million sq. km (42nd)	Australia is 12.5 times larger than Norway.
GDP source (2022 data), updated 2024	1,692.96B USD (12th)	593.35B USD (23rd)	Australia’s total GDP is approximately 2.85 times larger than Norway’s.
GDP per capita source (2022 data), updated 2024	$65,100 (13th)	108,729 USD (4th)	Australia’s GDP per capita is roughly 40% lower than Norway’s, with Australians producing about $43,629 less per person annually.

Economic Indexes

Index	Australia	Norway	Comparison
HDI (Human Development Index) source (2022 data), updated 2024	0.946 (10th)	0.966 (2nd)	Australia’s HDI is 0.946 (very high), while Norway’s is 0.966 (very high). Norway’s score is 0.020 higher, indicating slightly better human development overall.
Index of Economic Freedom source (2024 data)	76.2 (12th)	77.5 (8th)	Australia’s Index of Economic Freedom is 1.7% lower than Norway’s, 1.3 points less.
GINI source (2022 data), updated 2024	34.3 (2018 est.)	27.7 (2019 est.)	With a 24% higher Gini coefficient, Australia has a higher degree of income inequality than Norway.

International trade _{source(2023 data), updated 2024}

Indicator	Australia	Norway
Total imports	363.57B USD	157.03B
Imports % of GDP	19.71%	27.12%
Main import partners	China 28%, US 10%, South Korea 6%, Japan 6%, Singapore 5%	Sweden 18%, Germany 11%, China 10%, Denmark 6%, Netherlands 6%
Main import items	refined petroleum, cars, garments, trucks, plastic products	cars, refined petroleum, ships, garments, nickel
Total exports	447.51B USD	228.63B
Exports % of GDP	25.43%	55.49%
Main export Partners	China 29%, Japan 19%, South Korea 10%, India 7%, Taiwan 6%	Germany 27%, UK 21%, France 9%, Belgium 7%, Sweden 6%
Main export items	coal, iron ore, natural gas, gold, wheat	natural gas, crude petroleum, fish, refined petroleum, aluminum

Australia’s imports are over twice Norway’s, but Norway’s imports make up 27% of its GDP, 37% more than Australia’s 19.71%. Australia’s exports are nearly double Norway’s, but Norway’s are more crucial to its economy, making up over half of its GDP.

Military Power _{source (2023 data), updated 2024}

Indicator	Australia	Norway
Military expenditure	32.3B USD	8.7B USD
Military expenditure (% of GDP)	1.90%	1.64%
Active military	59k	23k
Active military per 1,000 capita	3.8	11.8

Australia’s military expenditure is approximately 273% larger and $23.67 billion higher than Norway’s, with Australia also allocating a greater percentage of its GDP to defense compared to Norway.