Total changes 1990-2008
Inclusive Wealth Index
Gross Domestic Product
Changes over 20 Years
Changes in inclusive wealth were primarily driven by increases in produced and human capital, which were the main factors that offset the decline in natural capital. However, the significant difference between IWI and GDP can partially be attributed to the decline in natural capital.
Human capital makes up the large majority of Norway’s inclusive wealth, followed by produced and natural capital.
Norway has seen a decline in its natural capital asset base between 1990 and 2008, driven by its drawdown of oil and gas resources. But in spite of a larger population growth rate, which would have been expected to put more pressures on its natural capital base, Norway has managed to exhibit a positive IWI. This could be traced back to a larger increase in its human and manufactured capital base.