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> Best I can find is about 17% of GDP in Norway is from Oil and Gas. While that per capita number is high, it's not Saudi Arabia levels. Per capita doesn't mea
by dmoy 3y ago
> Best I can find is about 17% of GDP in Norway is from Oil and Gas. While that per capita number is high, it's not Saudi Arabia levels.
Per capita doesn't mean % of GDP though. It means relative to the population.
Norway exports like $50B / yr of petroleum (and another $120B of natural gas). Saudi Arabia exports like $170B / yr of petroleum.
Saudi Arabia population is like 7x larger, so per Capita oil and gas is larger in Norway even if you subtract out all the natural gas.
- ubercore 3y agoRight I'm just suggesting per capita isn't necessarily the best way to talk about how important oil is to Norway's economony.