Nonrenewable natural capital, oil in Norway
Norway: Nonrenewable natural capital, oil was 303.03 billion real chained 2019 US$ in 2020. ▼ Falling
Nonrenewable natural capital, oil in Norway, 1995–2020
Source: World Bank. 2021. The Changing Wealth of Nations 2021: Managing Assets for the Future. Washington, DC: World Bank. doi:10.1596/978-1-4648-1590-4. Measured in real chained 2019 US$.
Analysis
In 2020, nonrenewable natural capital, oil in Norway stood at 303.03 billion real chained 2019 US$.
Compared with earlier readings it is down 7.3% on the previous year and up 16.1% over ten years.
Over the whole period, nonrenewable natural capital, oil in Norway peaked at 461.76 billion real chained 2019 US$ in 1997 and was at its lowest, 250.78 billion real chained 2019 US$, in 2014.
That places Norway 11th out of 145 countries with data for 2020, putting it in the top 10%.
The long-run direction has been consistently falling across the 26 years of available data.
Nonrenewable natural capital, oil in Norway, year by year
| Year | real chained 2019 US$ | Change |
|---|---|---|
| 1995 | 414.35 billion real chained 2019 US$ | — |
| 1996 | 448.01 billion real chained 2019 US$ | +8.1% |
| 1997 | 461.76 billion real chained 2019 US$ | +3.1% |
| 1998 | 447.28 billion real chained 2019 US$ | -3.1% |
| 1999 | 419.47 billion real chained 2019 US$ | -6.2% |
| 2000 | 435.89 billion real chained 2019 US$ | +3.9% |
| 2001 | 444.74 billion real chained 2019 US$ | +2.0% |
| 2002 | 400.69 billion real chained 2019 US$ | -9.9% |
| 2003 | 389.22 billion real chained 2019 US$ | -2.9% |
| 2004 | 372.84 billion real chained 2019 US$ | -4.2% |
| 2005 | 371.54 billion real chained 2019 US$ | -0.3% |
| 2006 | 327.73 billion real chained 2019 US$ | -11.8% |
| 2007 | 313.26 billion real chained 2019 US$ | -4.4% |
| 2008 | 287.27 billion real chained 2019 US$ | -8.3% |
| 2009 | 271.43 billion real chained 2019 US$ | -5.5% |
| 2010 | 260.93 billion real chained 2019 US$ | -3.9% |
| 2011 | 263.98 billion real chained 2019 US$ | +1.2% |
| 2012 | 287.42 billion real chained 2019 US$ | +8.9% |
| 2013 | 270.27 billion real chained 2019 US$ | -6.0% |
| 2014 | 250.78 billion real chained 2019 US$ | -7.2% |
| 2015 | 306.99 billion real chained 2019 US$ | +22.4% |
| 2016 | 291.51 billion real chained 2019 US$ | -5.0% |
| 2017 | 303.65 billion real chained 2019 US$ | +4.2% |
| 2018 | 331.52 billion real chained 2019 US$ | +9.2% |
| 2019 | 326.86 billion real chained 2019 US$ | -1.4% |
| 2020 | 303.03 billion real chained 2019 US$ | -7.3% |
Norway compared with similar countries
- Norway's 303.03 billion real chained 2019 US$ is above the median for high income countries, which is 354.16 million real chained 2019 US$, 855.6× the median. (49 countries reporting)
- Norway's 303.03 billion real chained 2019 US$ is above the median for Europe & Central Asia, which is 279.14 million real chained 2019 US$, 1085.6× the median. (42 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 438.17 billion real chained 2019 US$ | 414.35 billion real chained 2019 US$ | 461.76 billion real chained 2019 US$ | 5 |
| 2000s | 361.46 billion real chained 2019 US$ | 271.43 billion real chained 2019 US$ | 444.74 billion real chained 2019 US$ | 10 |
| 2010s | 289.39 billion real chained 2019 US$ | 250.78 billion real chained 2019 US$ | 331.52 billion real chained 2019 US$ | 10 |
| 2020s | 303.03 billion real chained 2019 US$ | 303.03 billion real chained 2019 US$ | 303.03 billion real chained 2019 US$ | 1 |
Countries ranked near Norway
- 8 Qatar 551.90 billion real chained 2019 US$ compare
- 9 Canada 402.51 billion real chained 2019 US$ compare
- 10 Kazakhstan 375.92 billion real chained 2019 US$ compare
- 12 Angola 191.65 billion real chained 2019 US$ compare
- 13 Azerbaijan 182.21 billion real chained 2019 US$ compare
- 14 Oman 181.44 billion real chained 2019 US$ compare
More reference data data for Norway
- Emission Totals - Indirect emissions (N2O) - Manure applied to Soils 0.3703 (2050)
- Emission Totals - Indirect emissions (N2O) - Manure left on Pasture 0.3621 (2050)
- Emission Totals - Indirect emissions (N2O) - IPCC Agriculture 1.55 (2050)
- Emission Totals - Indirect emissions (N2O) - Crop Residues 0.0618 (2050)
- Emission Totals - Indirect emissions (N2O) - Agricultural Soils 1.55 (2050)
- Emission Totals - Emissions (N2O) - Manure applied to Soils 1.24 (2050)
- Emission Totals - Emissions (N2O) - Manure Management 0.7734 (2050)
- Emission Totals - Emissions (N2O) - Manure left on Pasture 1.48 (2050)
- Emission Totals - Emissions (N2O) - IPCC Agriculture 6.9 (2050)
- Emission Totals - Emissions (N2O) - Crop Residues 0.3366 (2050)
Frequently asked questions
- What is nonrenewable natural capital, oil in Norway?
- Nonrenewable natural capital, oil in Norway was 303.03 billion real chained 2019 US$ in 2020, according to World Bank. 2021. The Changing Wealth of Nations 2021: Managing Assets for the Future. Washington, DC: World Bank. doi:10.1596/978-1-4648-1590-4.
- What is the highest nonrenewable natural capital, oil recorded in Norway?
- The highest recorded value was 461.76 billion real chained 2019 US$ in 1997.
- What is the lowest nonrenewable natural capital, oil recorded in Norway?
- The lowest recorded value was 250.78 billion real chained 2019 US$ in 2014.
- How does Norway rank for nonrenewable natural capital, oil?
- Norway ranks 11th out of 145 countries with data for 2020.
- Is nonrenewable natural capital, oil rising or falling in Norway?
- Over the last ten years it is up 16.1%. The long-run trend across the full record is falling.
- Where does this Norway data come from?
- The figures come from World Bank. 2021. The Changing Wealth of Nations 2021: Managing Assets for the Future. Washington, DC: World Bank. doi:10.1596/978-1-4648-1590-4, published as part of Nonrenewable natural capital, oil (real chained 2019 US$). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 26 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Natural capital includes the valuation of renewable and nonrenewable natural capital. Renewable natural capital includes agricultural land (cropland and pastureland), forests (timber, and three ecosystem services: water, recretion and non-wood forest products), protected areas, mangroves and fisheries. Nonrenewable natural capital includes fossil fuel energy (oil, gas, hard and soft coal) and minerals (bauxite, copper, gold, iron ore, lead, nickel, phosphate, silver, tin, and zinc),Values are measured at market exchange rates in constant 2018 US dollars, using a country-specific GDP deflator.