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Created with Fabric.js 1.4.5 start from scratch[clears the canvas] 300000000000 325000000000 350000000000 375000000000 400000000000 425000000000 450000000000 475000000000 500000000000 525000000000 550000000000 575000000000 600000000000 2005 2006 2007 2008 2009 2010 2011 2012 2013 An Insight of Economics: Norway This is Norway's GDP since 2005 to 2013 The nominal growth rate of Norway is exactly of 68.58%! Couple facts about Norway: - It is well know for it's economic stability - The government supports companies in early stages- Education is totally free up to post graduate university- World leader in high technology industries - Very productive and efficient workforce In this info-graph you'll find information about Norway's economy growth and it's progress compared to other countries and also what is the cause of such progress. Let's CompareThis Growth WithA Country Such As: Venezuela. Who has a nominal growth of 200% Prices of a lemon in Venezuela and Norway Meanwhile a lemon inNorway can cost up to1.82$ A lemon in Venezuelacan cost up to 5.92$ That means... You could buy 3 and a 1/4 of alemon in Norwayby the same priceof one lemon inVenezuela Why is this important? But wait... Because of: Inflation Rate Here we have the inflation rate of both countries since January of 2014 up to January of 2015 0 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 January/ 14 April July October January/ 15 Meanwhile Norway maintains a stable inflation rate of 2.3 and 2.1Venezuela has an inflation rate of: 56.1 up to 80 Which is incredibly high! But Now. Why is this comparison necessary?Well, Venezuela and Norway make their moneythe same way: Oil. Here, we can see that meanwhileVenezuela spends it's moneyright away, Norway saves905 billion dollars a yearfor their government pensionfund. This is because oil companies which are the main source of income of the country are taxed up to 78.1% Also, they might not pay students to study like Sweden BUT Education is free! In conclusion we could say that Norway is very stable economically, very low inflation rate and a notable increase in it's GDP and real growth. We could almostsay it's a role model country economically (even though there's countries with better GDP and growth) due to what their statistics prove and the services they provideand the role they have in modern day's technology research and innovation. Now, this has been possible thanks to the data of the Data World Bank and other sources bellow, sources bellow.
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