Norway population is 5,379,000. Its GDP is 3,265,240 Million in Norway’s local currency the Krone. A United States dollar can buy 9.02 Krones (or 1 Krone is $0.11086). Calculate Norway GDP in U.S. Dollar. What’s Norway GDP per capita in U.S. Dollar? In your opinion and in comparison, to other countries, what does this GDP per capita indicate? Show all work.

Krish Schmitt

Krish Schmitt

Answered question

2022-10-06

Norway population is 5,379,000. Its GDP is 3,265,240 Million in Norway’s local currency the Krone. A United States dollar can buy 9.02 Krones (or 1 Krone is $0.11086). Calculate Norway GDP in U.S. Dollar. What’s Norway GDP per capita in U.S. Dollar? In your opinion and in comparison, to other countries, what does this GDP per capita indicate? Show all work.

Answer & Explanation

Jarrett Pearson

Jarrett Pearson

Beginner2022-10-07Added 4 answers

DATA GIVEN
Norway population = 5,379,000
Norway GDP = 3,265,240 Million Krone or 3265240000000 Krone
1 US Dollar = 9.02 Krone
CALCULATION
Norway GDP in  US Dollar  = 3 , 265 , 240  Million Krone 9.02 = 362 , 000  Million Dollar
Norway GDP percapita in US Dollar = GDP of the country / Population of the country
= 362 , 000  Million Dollar 5 , 379 , 000
= 362000000000  Dollar 5 , 379 , 000
= 67 , 298.7544  PPP Dollars
Norway usually occupies its position in top 20 countries in the world in terms of per capita income. This shows high standard of living of the people in Norway.
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