The CIA World Factbook Every edition, 1990 to 2025 Europe
Economic overview Norway, in 36 editions.
The entry for Norway published Economic overview in 36 editions of 36, from 1990 to 2025. The text changed in 32 editions. Each is shown as published. Economic overview in every entry.
- editions changed the text
- 32
- the first edition with it
- 1990
- the latest edition with it
- 2025
Published as “Overview” (1990 to 1995), “Economic overview” (1996 to 2025), “Economy - overview” (1997 to 2019), “Economy-overview” (1998) and “Economy--overview” (1999).
field in that editiontext changed from the edition beforenot in that editionthe edition shownChoose an edition on the strip beside the text, or step through them with the arrows. Mark changes compares it with the edition before: the marks are ours, words added and words removed.
2025 edition
Changed since 2024Published as “Overview”
Norway is a prosperous capitalist nation with the resources to finance extensive welfare measures. Since 1975 exploitation of large crude oil and natural gas reserves has helped achieve an average annual growth of roughly 4%, the third-highest among OECD countries. Growth slackened in 1987-88 because of the sharp drop in world oil prices and a slowdown in consumer spending, but picked up again in 1989. Future economic issues involve the aging of the population, the increased economic integration of Europe, and the balance between private and public influence in economic decisions.
Norway is a prosperous capitalist nation with the resources to finance extensive welfare measures. Since 1975 exploitation of large crude oil and natural gas reserves has helped achieve an average annual growth of roughly 4%, the third-highest among OECD countries. Growth slackened in 1987-88 because of the sharp drop in world oil prices and a slowdown in consumer spending, but picked up again in 1989. Future economic issues involve the aging of the population, the increased economic integration of Europe, and the balance between private and public influence in economic decisions.
Published as “Overview”
Norway is a prosperous capitalist nation with the resources to finance extensive welfare measures. Since 1975 exploitation of large crude oil and natural gas reserves has helped maintain high growth; for the past five years growth has averaged 4.1%, the fourth-highest among OECD countries. Growth slackened in 1987-88 partially because of the sharp drop in world oil prices, but picked up again in 1989. The Brundtland government plans to push hard on environmental issues, as well as cutting unemployment, improving child care, upgrading major industries, and negotiating an EC - European Free Trade Association (EFTA) agreement on an Economic European Area.
Norway is a prosperous capitalist nation with the resources to finance extensive welfare measures. Since 1975 exploitation of large crude oil and natural gas reserves has helped achieve an average annual maintain high growth; for the past five years growth of roughly 4%, has averaged 4.1%, the third-highest fourth-highest among OECD countries. Growth slackened in 1987-88 partially because of the sharp drop in world oil prices and a slowdown in consumer spending, prices, but picked up again in 1989. Future economic issues involve the aging of the population, the increased economic integration of Europe, and the balance between private The Brundtland government plans to push hard on environmental issues, as well as cutting unemployment, improving child care, upgrading major industries, and public influence in economic decisions. negotiating an EC - European Free Trade Association (EFTA) agreement on an Economic European Area.
Published as “Overview”
Norway has a mixed economy involving a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector, through large-scale state enterprises and extensively subsidizes agricultural, fishing, and other sectors. Norway also maintains an extensive welfare system that helps propel public-sector expenditures to slightly more than 50% of the GDP and results in one of the highest average tax burdens in the world (54%). A small country with a high dependence on international trade, Norway is basically an exporter of raw materials and semiprocessed goods, with an abundance of small- and medium-sized firms, and is ranked among the major shipping nations.
The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil sector to keep its economy afloat. Although one of the government's main priorities is to reduce this dependency, this situation is not likely to improve for years to come. The government also hopes to reduce unemployment and strengthen and diversify the economy through tax reform and an expansionary 1992 budget.
Forecasters predict that economic growth will rise slightly in 1992 because of public-sector expansion and moderate improvements in private investment and demand. Inflation will remain about 3%, while unemployment continues at record levels of over 5% because of the weakness of the economy outside the oil sector. Oslo, a member of the European Free Trade Area, is continuing to deregulate and harmonize with EC regulations to prepare for the European Economic Area (EEA) - which creates a EC/EFTA market with free movement of capital, goods, services, and labor - which takes effect in 1993.
Rewritten: too little of the 1991 text remains to mark the changes.
Norway has a mixed economy involving a combination of free market activity
and government intervention. The government controls key areas, such as the
vital petroleum sector, through large-scale state enterprises and
extensively subsidizes agricultural, fishing, and other sectors. Norway also
maintains an extensive welfare system that helps propel public-sector
expenditures to slightly more than 50% of the GDP and results in one of the
highest average tax burdens in the world (54%). A small country with a high
dependence on international trade, Norway is basically an exporter of raw
materials and semiprocessed goods, with an abundance of small- and
medium-sized firms, and is ranked among the major shipping nations. The
country is richly endowed with natural resources - petroleum, hydropower,
fish, forests, and minerals - and is highly dependent on its oil sector to
keep its economy afloat. Although one of the government's main priorities is
to reduce this dependency, this situation is not likely to improve for years
to come. The government also hopes to reduce unemployment and strengthen and
diversify the economy through tax reform and an expansionary 1992 budget.
Forecasters predict that economic growth will rise slightly in 1992 because
of public-sector expansion and moderate improvements in private investment
and demand. Inflation will remain about 3%, while unemployment continues at
record levels of over 5% because of the weakness of the economy outside the
oil sector. Oslo, a member of the European Free Trade Area, is continuing to
deregulate and harmonize with EC regulations to prepare for the European
Economic Area (EEA) - which creates a EC/EFTA market with free movement of
capital, goods, services, and labor - which takes effect in 1993.
Published as “Overview”
Norway has a mixed economy involving a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector (through large-scale state enterprises) and extensively subsidizes agriculture, fishing, and areas with sparse resources. Norway also maintains an extensive welfare system that helps propel public sector expenditures to slightly more than 50% of the GDP and results in one of the highest average tax burdens in the world (54%). A small country with a high dependence on international trade, Norway is basically an exporter of raw materials and semiprocessed goods, with an abundance of small- and medium-sized firms, and is ranked among the major shipping nations.
The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil sector to keep its economy afloat. Although one of the government's main priorities is to reduce this dependency, this situation is not likely to improve for years to come. The government also hopes to reduce unemployment and strengthen and diversify the economy through tax reform and a series of expansionary budgets.
The budget deficit is expected to hit a record 8% of GDP because of welfare spending and bail-outs of the banking system. Unemployment continues at record levels of over 10% - including those in job programs - because of the weakness of the economy outside the oil sector. Overall economic growth is expected to be around 2% in 1993 while inflation is likely to rise slightly to 4%. Oslo, a member of the European Free Trade Area, has applied for EC membership and continues to deregulate and harmonize with EC regulations to prepare for the European Economic Area (EEA) - which creates an EC/EFTA market with free movement of capital, goods, services, and labor - to take effect in late 1993 and its EC bid.
Norway has a mixed economy involving a combination of free market activity
and government intervention. The government controls key areas, such as the
vital petroleum sector, through sector (through large-scale state enterprises enterprises) and
extensively subsidizes agricultural, agriculture, fishing, and other sectors. areas with sparse
resources. Norway alsopropel public-sector
propel public sector expenditures to slightly more than 50% of the GDP and
results in one of the
small country with a high
basically an exporter of raw
abundance of small- and
shipping nations. The
petroleum, hydropower,
on its oil sector to
government's main priorities is
not likely to improve for years
unemployment and strengthen andan
a series of expansionary 1992 budget. budgets. The budget deficit is expected to hit aForecasters predict that economic growth will rise slightly in 1992 record 8% of GDP becausepublic-sector expansion welfare spending and moderate improvements in private investment bail-outs of the bankingand demand. Inflation will remain about 3%, while unemployment system. Unemployment continues at5% 10% - including
those in job programs - because of the weakness of the economy outside the
oil sector. Overall economic growth is expected to be around 2% in 1993
while inflation is likely to rise slightly to 4%. Oslo, a member of the
European Free Trade Area, is continuing has applied for EC membership and continues to
deregulate and harmonize with EC regulations to prepare for the European
Economic Area (EEA) - which creates a an EC/EFTA market with free movement of
capital, goods, services, and labor - which takes to take effect in 1993. late 1993 and its EC
bid.
Published as “Overview”
Norway has a mixed economy involving a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector (through large-scale state enterprises) and extensively subsidizes agriculture, fishing, and areas with sparse resources. Norway also maintains an extensive welfare system that helps propel public sector expenditures to slightly more than 50% of the GDP and results in one of the highest average tax burdens in the world (54%). A small country with a high dependence on international trade, Norway is basically an exporter of raw materials and semiprocessed goods, with an abundance of small- and medium-sized firms, and is ranked among the major shipping nations.
The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil sector to keep its economy afloat. Although one of the government's main priorities is to reduce this dependency, this situation is not likely to improve for years to come. The government also hopes to reduce unemployment and strengthen and diversify the economy through tax reform and a series of expansionary budgets.
The budget deficit is expected to hit a record 8% of GDP because of welfare spending and bail-outs of the banking system. Unemployment continues at record levels of over 10% - including those in job programs - because of the weakness of the economy outside the oil sector. Economic growth was only 1.6% in 1993, while inflation was a moderate 2.3%. Oslo, a member of the European Free Trade Area, has applied for membership in the European Union and continues to deregulate and harmonize with EU regulations. Membership is expected in early 1995.
Norway has a mixed economy involving a combination of free market activity
activity and government intervention. The government controls key
areas, such as the
enterprises) and
areas with sparse
welfare system that helps
slightly more than 50% of the GDP and
average tax burdens in the world (54%). A
dependence on international trade, Norway is
raw materials and semiprocessed goods, with an
medium-sized firms, and is ranked among the major
The country is richly endowed with natural resources -
hydropower, fish, forests, and minerals - and is highly dependent
its oil sector to keep its economy afloat. Although one of the
government's main priorities is to reduce this dependency, this
situation is
also hopes to reduce
economy through tax reform and
budget deficit is expected to hit a
welfare spending and bail-outs of the banking
continues at record levels of over 10% - including
programs - because of the weakness of the economy outside the
sector. Overall economic Economic growth is expected to be around 2% was only 1.6% in 19931993, while inflation is likely to rise slightly to 4%. was a
moderate 2.3%. Oslo, a member of the
applied for EC membership in the European Union and continues to
deregulate and harmonize with EC regulations to prepare for the European EU regulations. Membership is expected
Economic Area (EEA) - which creates an EC/EFTA market with free movement ofcapital, goods, services, and labor - to take effect in late 1993 and its EC early 1995.
bid.
Published as “Overview”
Norway has a mixed economy involving a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector (through large-scale state enterprises) and extensively subsidizes agriculture, fishing, and areas with sparse resources. Norway also maintains an extensive welfare system that helps propel public sector expenditures to slightly more than 50% of the GDP and results in one of the highest average tax burdens in the world (54%). A small country with a high dependence on international trade, Norway is basically an exporter of raw materials and semiprocessed goods, with an abundance of small- and medium-sized firms, and is ranked among the major shipping nations.
The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil sector to keep its economy afloat. Norway imports more than half its food needs. Although one of the government's main priorities is to reduce this dependency, this situation is not likely to improve for years to come. The government also hopes to reduce unemployment and strengthen and diversify the economy through tax reform and a series of expansionary budgets.
The budget deficit is expected to hit a record 8% of GDP because of welfare spending and bail-outs of the banking system. Unemployment is currently running at 8.4% - including those in job programs - because of the weakness of the economy outside the oil sector. Economic growth, only 1.6% in 1993, moved up to 5.5% in 1994. Oslo opted to stay out of the EU during a referendum in November 1994.
Norway has a mixed economy involving a combination of free market
market activity and government intervention. The government controls key
key areas, such as the vital petroleum sector (through large-scale state
state enterprises) and extensively subsidizes agriculture, fishing, and
and areas with sparse resources. Norway also maintains an extensive
welfare system that helps propel public sector expenditures to
slightly more than 50% of the GDP and results in one of the highest
average tax burdens in the world (54%). A small country with a high
dependence on international trade, Norway is basically an exporter of
raw materials and semiprocessed goods, with an abundance of small- and
medium-sized firms, and is ranked among the major shipping nations.
The country is richly endowed with natural resources - petroleum,
hydropower, fish, forests, and minerals - and is highly dependent on
its oil sector to keep its economy afloat. Norway imports more than
half its food needs. Although one of the
is to reduce this dependency, this
for years to come. The government
and strengthen and diversify the
series of expansionary budgets. The
a record 8% of GDP because of
banking system. Unemployment
continuesrecord levels of over 10% 8.4% - including
those in job
the oilgrowth was growth, only 1.6% in 1993, while inflation was a moved up to 5.5%
moderate 2.3%. Oslo, a member of the European Free Trade Area, hasapplied for membership in the European Union and continues 1994. Oslo opted to
deregulate and harmonize withregulations. Membership is expectedduring a referendum in early 1995.
November 1994.
Norway has a mixed economy involving a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector (through large-scale state enterprises), and extensively subsidizes agriculture, fishing, and areas with sparse resources. Norway also maintains an extensive welfare system that helps propel public sector expenditures to more than 50% of GDP and results in one of the highest average tax burdens in the world (46%). A small country with a high dependence on international trade, Norway is basically an exporter of raw materials and semiprocessed goods, with an abundance of small- and medium-sized firms, and is ranked among the major shipping nations.
The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil sector. Norway imports more than half its food needs. Economic growth, only 1.6% in 1993, moved up to 5.5% in 1994 and remained strong in 1995. Oslo opted to stay out of the EU during a referendum in November 1994.
Norway has a mixed economy involving a
combination of free
government controls
(through large-scaleenterprises) enterprises), and extensively subsidizes
agriculture, fishing,
maintains an extensive
sector expenditures to
slightlythe GDP and results in one of
the highest(54%). (46%). A small country
with a high
an exporter of
abundance of small- and
major shipping nations.
resources - petroleum,
is highly dependent onsector to keep its economy afloat. sector. Norway imports more than
its food needs. Although one of the government's main priorities Economic growth, only 1.6% in 1993, moved up to 5.5%
is to reduce this dependency, this situation is not likely to improve
for years to come. The government also hopes to reduce unemployment
and strengthen and diversify the economy through tax reform and a
series of expansionary budgets. The budget deficit is expected to hit
a record 8% of GDP because of welfare spending and bail-outs of the
banking system. Unemployment is currently running at 8.4% - including
those in job programs - because of the weakness of the economy outside
the oil sector.
in 1994. 1994 and remained strong in 1995. Oslo opted to stay out of the
EU during a referendum in
Published as “Economy - overview”
Norway is a prosperous bastion of welfare capitalism. The economy consists of a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector (through large-scale state enterprises), and extensively subsidizes agriculture, fishing, and areas with sparse resources. Norway maintains an extensive welfare system that helps propel public sector expenditures to more than 50% of GDP and results in one of the highest average tax levels in the world (46%). A small country with a high dependence on international trade, Norway is basically an exporter of raw materials and semiprocessed goods, with an abundance of small- and medium-sized firms, and is ranked among the major shipping nations.
The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil sector. Only Saudi Arabia exports more oil than Norway. Norway imports more than half its food needs. Economic growth, only 1.6% in 1993, has improved steadily over the past few years, resulting in a budget surplus in 1996. Oslo opted to stay out of the EU during a referendum in November 1994.
Despite their high per capita income - outstripped among major nations only by the US - and their generous welfare benefits, the Norwegians worry about that time in the 21st century when the oil and gas run out.
Norway has is a mixed prosperous bastion of welfare
capitalism. The economy involving consists of a
activity and government intervention. The
areas, such as the vital petroleum sector
enterprises), and extensively subsidizes
areas with sparse resources. Norway alsomaintains an extensive welfare
system that helps propel public
of GDP and results in one ofburdens levels in the
world (46%). A small country
trade, Norway is basically
semiprocessed goods, with an
firms, and is ranked among the
richly endowed with natural
forests, and minerals - and
Only Saudi Arabia exports more oil than Norway. Norway imports more
than halfmoved up to 5.5% has
improved steadily over the past few years, resulting in 1994 and remained strong a budget
surplus in 1995. 1996. Oslo opted to stay out of the
in November 1994. Despite their high per capita income - outstripped
among major nations only by the US - and their generous welfare
benefits, the Norwegians worry about that time in the 21st century
when the oil and gas run out.
Published as “Economy-overview”
Norway is a prosperous bastion of welfare capitalism. The economy consists of a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector (through large-scale state enterprises), and extensively subsidizes agriculture, fishing, and areas with sparse resources. Norway maintains an extensive welfare system that helps propel public sector expenditures to more than 50% of GDP and results in one of the highest average tax levels in the world.
A small country with a high dependence on international trade, Norway is basically an exporter of raw materials and semiprocessed goods, with an abundance of small- and medium-sized firms, and is ranked among the major shipping nations. The country is richly endowed with natural resources-petroleum, hydropower, fish, forests, and minerals-and is highly dependent on its oil sector. Only Saudi Arabia exports more oil than Norway.
Norway imports more than half its food needs. Oslo opted to stay out of the EU during a referendum in November 1994. Economic growth in 1998 should be about the same as in 1997. Inflation probably will move up toward 3% because of tightness in labor markets. Despite their high per capita income-outstripped among major nations only by the US-and their generous welfare benefits, Norwegians worry about that time in the 21st century when the oil and gas run out.
Norway is a prosperous bastion of welfare
capitalism. The economy consists of a combination of free market
activity and government intervention. The government controls key
areas, such as the vital petroleum sector (through large-scale state
enterprises), and extensively subsidizes agriculture, fishing, and
areas with sparse resources. Norway maintains an extensive welfare
system that helps propel public sector expenditures to more than 50%
of GDP and results in one of the highest average tax levels in theworld (46%). world. A small country with a high dependence on international
Norway is basically an exporter of raw materials and
goods, with an abundance of small- and medium-sized
ranked among the major shipping nations. The country is
with natural resources - petroleum, resources-petroleum, hydropower, fish,minerals - and
minerals-and is highly dependent on its oil sector.
exports more oil than Norway. Norway imports moreneeds. Economic growth, only 1.6% in 1993, hasimproved steadily over the past few years, resulting in a budget needs. Oslo opted to stay out of the EU during a referendum
surplus in 1996.
November 1994. Economic growth in 1998 should be about the same as in
1997. Inflation probably will move up toward 3% because of tightness
in labor markets. Despite their high per capita income - outstripped income-outstripped
among major nations only by the US - and US-and their generous welfare
benefits, the Norwegians worry about that time in the 21st century
the oil and gas run out.
Published as “Economy--overview”
Norway is a prosperous bastion of welfare capitalism. The economy consists of a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector (through large-scale state enterprises), and extensively subsidizes agriculture, fishing, and areas with sparse resources. Norway maintains an extensive welfare system that helps propel public sector expenditures to more than 50% of GDP and results in one of the highest average tax levels in the world.
A major shipping nation, with a high dependence on international trade, Norway is basically an exporter of raw materials and semiprocessed goods. The country is richly endowed with natural resources--petroleum, hydropower, fish, forests, and minerals--and is highly dependent on its oil production and international oil prices. Only Saudi Arabia exports more oil than Norway. Norway imports more than half its food needs.
Oslo opted to stay out of the EU during a referendum in November 1994. Economic growth in 1999 should drop to about 1%. Despite their high per capita income and generous welfare benefits, Norwegians worry about that time in the 21st century when the oil and gas run out.
Norway is a prosperous bastion of welfare
capitalism. The economy consists of a combination of free market
activity and government intervention. The government controls key
areas, such as the vital petroleum sector (through large-scale state
enterprises), and extensively subsidizes agriculture, fishing, and
areas with sparse resources. Norway maintains an extensive welfare
system that helps propel public sector expenditures to more than 50%
of GDP and results in one of the highest average tax levels in the
world. A small country major shipping nation, with a high dependence on
international trade,
materials and semiprocessed
goods, with an abundance of small- and medium-sized firms, and is
ranked among the major shipping nations.
with natural resources-petroleum, resources--petroleum, hydropower, fish, forests, andminerals-and minerals--and is highly dependent on its oil sector. production and
international oil prices. Only Saudi Arabia
Norway. Norway imports more than half its food
stay out of the EU during a referendum in
growth in 1998 1999 should be drop to about the same as in 1%. Despite their high per
1997. Inflation probably will move up toward 3% because of tightness
in labor markets.capita income-outstrippedamong major nations only by the US-and their capita income and generous welfare
that time in the 21st century when
Published as “Economy - overview”
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector (through large-scale state enterprises), and extensively subsidizes agriculture, fishing, and areas with sparse resources. The extensive welfare system helps propel public sector expenditures to more than 50% of GDP. A major shipping nation, with a high dependence on international trade, Norway is basically an exporter of raw materials and semiprocessed goods.
The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil production and international oil prices. Only Saudi Arabia exports more oil than Norway. Norway imports more than half its food needs. Oslo opted to stay out of the EU during a referendum in November 1994. Growth was a meager 0.8% in 1999 because of weak private consumption and anemic investment activity in the oil and other sectors.
Growth should pick up in 2000, perhaps to 2.7%. Despite their high per capita income and generous welfare benefits, Norwegians worry about that time in the next two decades when the oil and gas begin to run out.
Norway The Norwegian economy is a prosperous bastion of welfare
capitalism. The economy consists ofNorway maintains an The extensive welfarethat helps propel public sector expenditures to more than 50%GDP and results in one of the highest average tax levels in the GDP. A major shipping nation, with a high dependence on
world.resources--petroleum, resources - petroleum, hydropower, fish, forests, and
minerals--andEconomic Growth was a meager 0.8% in 1999 because of weak private consumption and anemic investment activity in the oil and other sectors. Growth should
growthdrop pick up in 2000, perhaps to about 1%. 2.7%. Despite their high per21st century next two decades when the oil and gas begin to run out.
Published as “Economy - overview”
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector (through large-scale state enterprises). The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil production and international oil prices; in 1999, oil and gas accounted for 35% of exports.
Only Saudi Arabia exports more oil than Norway. Oslo opted to stay out of the EU during a referendum in November 1994. Growth picked up in 2000 to 2.7%, compared to the meager 0.8% of 1999, but may fall back in 2001. The government moved ahead with privatization in 2000, even proposing the sale of up to one-third of the 100% state-owned oil company Statoil. Despite their high per capita income and generous welfare benefits, Norwegians worry about that time in the next two decades when the oil and gas begin to run out. Accordingly, Norway has been saving its oil-boosted budget surpluses in a Government Petroleum Fund, which is invested abroad and now is valued at more than $43 billion.
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector (through large-scale state enterprises), and extensively subsidizes agriculture, fishing, and areas with sparse resources. The extensive welfare system helps propel public sector expenditures to more than 50% of GDP. A major shipping nation, with a high dependence on international trade, Norway is basically an exporter of raw materials and semiprocessed goods. enterprises). The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil production and international oil prices. prices; in 1999, oil and gas accounted for 35% of exports. Only Saudi Arabia exports more oil than Norway. Norway imports more than half its food needs. Oslo opted to stay out of the EU during a referendum in November 1994. Growth was a picked up in 2000 to 2.7%, compared to the meager 0.8% in 1999 because of weak private consumption and anemic investment activity 1999, but may fall back in the oil and other sectors. Growth should pick up 2001. The government moved ahead with privatization in 2000, perhaps even proposing the sale of up to 2.7%. one-third of the 100% state-owned oil company Statoil. Despite their high per capita income and generous welfare benefits, Norwegians worry about that time in the next two decades when the oil and gas begin to run out. Accordingly, Norway has been saving its oil-boosted budget surpluses in a Government Petroleum Fund, which is invested abroad and now is valued at more than $43 billion.
Published as “Economy - overview”
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector (through large-scale state enterprises). The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil production and international oil prices; in 1999, oil and gas accounted for 35% of exports.
Only Saudi Arabia and Russia export more oil than Norway. Oslo opted to stay out of the EU during a referendum in November 1994. Growth picked up in 2000 to 2.7%, compared with the meager 0.8% of 1999, but fell back to 1.3% in 2001. High oil prices helped the economy in 2002 in face of the sluggish world economy. The government has moved ahead with privatization. With arguably the highest quality of life worldwide, Norwegians still worry about that time in the next two decades when the oil and gas begin to run out. Accordingly, Norway has been saving its oil-boosted budget surpluses in a Government Petroleum Fund, which is invested abroad and now is valued at more than $43 billion.
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector (through large-scale state enterprises). The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil production and international oil prices; in 1999, oil and gas accounted for 35% of exports. Only Saudi Arabia exports and Russia export more oil than Norway. Oslo opted to stay out of the EU during a referendum in November 1994. Growth picked up in 2000 to 2.7%, compared to with the meager 0.8% of 1999, but may fall fell back to 1.3% in 2001. High oil prices helped the economy in 2002 in face of the sluggish world economy. The government has moved ahead with privatization in 2000, even proposing privatization. With arguably the sale of up to one-third highest quality of the 100% state-owned oil company Statoil. Despite their high per capita income and generous welfare benefits, life worldwide, Norwegians still worry about that time in the next two decades when the oil and gas begin to run out. Accordingly, Norway has been saving its oil-boosted budget surpluses in a Government Petroleum Fund, which is invested abroad and now is valued at more than $43 billion.
Published as “Economy - overview”
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector (through large-scale state enterprises). The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil production and international oil prices; in 1999, oil and gas accounted for 35% of exports.
Only Saudi Arabia and Russia export more oil than Norway. Norway opted to stay out of the EU during a referendum in November 1994. The government has moved ahead with privatization. With arguably the highest quality of life worldwide, Norwegians still worry about that time in the next two decades when the oil and gas begin to run out. Accordingly, Norway has been saving its oil-boosted budget surpluses in a Government Petroleum Fund, which is invested abroad and now is valued at more than $43 billion. GDP growth was a lackluster 1% in 2002 and 2003 against the background of a faltering European economy.
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector (through large-scale state enterprises). The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil production and international oil prices; in 1999, oil and gas accounted for 35% of exports. Only Saudi Arabia and Russia export more oil than Norway. Oslo Norway opted to stay out of the EU during a referendum in November 1994. Growth picked up in 2000 to 2.7%, compared with the meager 0.8% of 1999, but fell back to 1.3% in 2001. High oil prices helped the economy in 2002 in face of the sluggish world economy. The government has moved ahead with privatization. With arguably the highest quality of life worldwide, Norwegians still worry about that time in the next two decades when the oil and gas begin to run out. Accordingly, Norway has been saving its oil-boosted budget surpluses in a Government Petroleum Fund, which is invested abroad and now is valued at more than $43 billion. GDP growth was a lackluster 1% in 2002 and 2003 against the background of a faltering European economy.
Published as “Economy - overview”
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector (through large-scale state enterprises). The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil production and international oil prices, with oil and gas accounting for one-third of exports.
Only Saudi Arabia and Russia export more oil than Norway. Norway opted to stay out of the EU during a referendum in November 1994. The government has moved ahead with privatization. With arguably the highest quality of life worldwide, Norwegians still worry about that time in the next two decades when the oil and gas begin to run out. Accordingly, Norway has been saving its oil-boosted budget surpluses in a Government Petroleum Fund, which is invested abroad and now is valued at more than $43 billion. GDP growth was a lackluster 1% in 2002 and 0.5% in 2003 against the background of a faltering European economy.
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector (through large-scale state enterprises). The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil production and international oil prices; in 1999, prices, with oil and gas accounted accounting for 35% one-third of exports. Only Saudi Arabia and Russia export more oil than Norway. Norway opted to stay out of the EU during a referendum in November 1994. The government has moved ahead with privatization. With arguably the highest quality of life worldwide, Norwegians still worry about that time in the next two decades when the oil and gas begin to run out. Accordingly, Norway has been saving its oil-boosted budget surpluses in a Government Petroleum Fund, which is invested abroad and now is valued at more than $43 billion. GDP growth was a lackluster 1% in 2002 and 0.5% in 2003 against the background of a faltering European economy.
Published as “Economy - overview”
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector (through large-scale state enterprises). The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil production and international oil prices, with oil and gas accounting for one-third of exports.
Only Saudi Arabia and Russia export more oil than Norway. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, it contributes sizably to the EU budget. The government has moved ahead with privatization. With arguably the highest quality of life worldwide, Norwegians still worry about that time in the next two decades when the oil and gas will begin to run out. Accordingly, Norway has been saving its oil-boosted budget surpluses in a Government Petroleum Fund, which is invested abroad and now is valued at more than $150 billion. After lackluster growth of 1% in 2002 and 0.5% in 2003, GDP growth picked up to 3.3% in 2004.
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector (through large-scale state enterprises). The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil production and international oil prices, with oil and gas accounting for one-third of exports. Only Saudi Arabia and Russia export more oil than Norway. Norway opted to stay out of the EU during a referendum in November 1994. 1994; nonetheless, it contributes sizably to the EU budget. The government has moved ahead with privatization. With arguably the highest quality of life worldwide, Norwegians still worry about that time in the next two decades when the oil and gas will begin to run out. Accordingly, Norway has been saving its oil-boosted budget surpluses in a Government Petroleum Fund, which is invested abroad and now is valued at more than $43 $150 billion. GDP growth was a After lackluster growth of 1% in 2002 and 0.5% in 2003 against the background of a faltering European economy. 2003, GDP growth picked up to 3.3% in 2004.
Published as “Economy - overview”
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention. The government controls key areas such as the vital petroleum sector (through large-scale state enterprises). The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil production and international oil prices, with oil and gas accounting for one-third of exports.
Only Saudi Arabia and Russia export more oil than Norway. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, it contributes sizably to the EU budget. The government has moved ahead with privatization. Although Norwegian oil production peaked in 2000, natural gas production is still rising. Norwegians realize that once their gas production peaks they will eventually face declining oil and gas revenues; accordingly, Norway has been saving its oil-and-gas-boosted budget surpluses in a Government Petroleum Fund, which is invested abroad and now is valued at more than $250 billion. After lackluster growth of 1% in 2002 and 0.5% in 2003, GDP growth picked up to 3.3% in 2004 and to 3.7% in 2005.
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention. The government controls key areas, areas such as the vital petroleum sector (through large-scale state enterprises). The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil production and international oil prices, with oil and gas accounting for one-third of exports. Only Saudi Arabia and Russia export more oil than Norway. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, it contributes sizably to the EU budget. The government has moved ahead with privatization. With arguably the highest quality of life worldwide, Norwegians Although Norwegian oil production peaked in 2000, natural gas production is still worry about rising. Norwegians realize that time in the next two decades when the once their gas production peaks they will eventually face declining oil and gas will begin to run out. Accordingly, revenues; accordingly, Norway has been saving its oil-boosted oil-and-gas-boosted budget surpluses in a Government Petroleum Fund, which is invested abroad and now is valued at more than $150 $250 billion. After lackluster growth of 1% in 2002 and 0.5% in 2003, GDP growth picked up to 3.3% in 2004. 2004 and to 3.7% in 2005.
Published as “Economy - overview”
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector, through large-scale state enterprises. The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil production and international oil prices, with oil and gas accounting for one-third of exports.
Only Saudi Arabia and Russia export more oil than Norway. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget. The government has moved ahead with privatization. Although Norwegian oil production peaked in 2000, natural gas production is still rising. Norwegians realize that once their gas production peaks they will eventually face declining oil and gas revenues; accordingly, Norway has been saving its oil-and-gas-boosted budget surpluses in a Government Petroleum Fund, which is invested abroad and now is valued at more than $250 billion.
After lackluster growth of less than 1% in 2002-03, GDP growth picked up to 3-4% in 2004-06. Norway's economy remains buoyant. Domestic economic activity is, and will continue to be, the main driver of growth, supported by high consumer confidence and strong investment spending in the offshore oil and gas sector.
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention. The government controls key areas areas, such as the vital petroleum sector (through sector, through large-scale state enterprises). enterprises. The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil production and international oil prices, with oil and gas accounting for one-third of exports. Only Saudi Arabia and Russia export more oil than Norway. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget. The government has moved ahead with privatization. Although Norwegian oil production peaked in 2000, natural gas production is still rising. Norwegians realize that once their gas production peaks they will eventually face declining oil and gas revenues; accordingly, Norway has been saving its oil-and-gas-boosted budget surpluses in a Government Petroleum Fund, which is invested abroad and now is valued at more than $250 billion. After lackluster growth of less than 1% in 2002 and 0.5% in 2003, 2002-03, GDP growth picked up to 3.3% 3-4% in 2004 2004-06. Norway's economy remains buoyant. Domestic economic activity is, and will continue to 3.7% be, the main driver of growth, supported by high consumer confidence and strong investment spending in 2005. the offshore oil and gas sector.
Published as “Economy - overview”
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector, through large-scale state enterprises. The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil production and international oil prices, with oil and gas accounting for one-third of exports.
Only Saudi Arabia and Russia export more oil than Norway. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget. The government has moved ahead with privatization. Although Norwegian oil production peaked in 2000, natural gas production is still rising. Norwegians realize that once their gas production peaks they will eventually face declining oil and gas revenues; accordingly, Norway has been saving its oil-and-gas-boosted budget surpluses in a Government Petroleum Fund, which is invested abroad and now is valued at more than $250 billion.
After lackluster growth of less than 1% in 2002-03, GDP growth picked up to 3-5% in 2004-07, partly due to higher oil prices. Norway's economy remains buoyant. Domestic economic activity is, and will continue to be, the main driver of growth, supported by high consumer confidence and strong investment spending in the offshore oil and gas sector. Norway's record high budget surplus and upswing in the labor market in 2007 highlight the strength of its economic position going into 2008.
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector, through large-scale state enterprises. The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil production and international oil prices, with oil and gas accounting for one-third of exports. Only Saudi Arabia and Russia export more oil than Norway. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget. The government has moved ahead with privatization. Although Norwegian oil production peaked in 2000, natural gas production is still rising. Norwegians realize that once their gas production peaks they will eventually face declining oil and gas revenues; accordingly, Norway has been saving its oil-and-gas-boosted budget surpluses in a Government Petroleum Fund, which is invested abroad and now is valued at more than $250 billion. After lackluster growth of less than 1% in 2002-03, GDP growth picked up to 3-4% 3-5% in 2004-06. 2004-07, partly due to higher oil prices. Norway's economy remains buoyant. Domestic economic activity is, and will continue to be, the main driver of growth, supported by high consumer confidence and strong investment spending in the offshore oil and gas sector. Norway's record high budget surplus and upswing in the labor market in 2007 highlight the strength of its economic position going into 2008.
Published as “Economy - overview”
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector, through large-scale state enterprises. The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on the petroleum sector, which accounts for nearly half of exports and over 30% of state revenue.
Norway is the world's third-largest gas exporter; its position as an oil exporter has slipped to seventh-largest as production has begun to decline. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget. In anticipation of eventual declines in oil and gas production, Norway saves almost all state revenue from the petroleum sector in a sovereign wealth fund.
After lackluster growth of less than 1.5% in 2002-03, GDP growth picked up to 2.5-6.2% in 2004-07, partly due to higher oil prices. Growth fell to 2.6% in 2008 as a result of the slowing world economy and the drop in oil prices.
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector, through large-scale state enterprises. The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil production and international oil prices, with oil and gas accounting the petroleum sector, which accounts for one-third nearly half of exports. Only Saudi Arabia exports and Russia export more over 30% of state revenue. Norway is the world's third-largest gas exporter; its position as an oil than Norway. exporter has slipped to seventh-largest as production has begun to decline. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget. The government has moved ahead with privatization. Although Norwegian oil production peaked In anticipation of eventual declines in 2000, natural gas production is still rising. Norwegians realize that once their gas production peaks they will eventually face declining oil and gas revenues; accordingly, production, Norway has been saving its oil-and-gas-boosted budget surpluses saves almost all state revenue from the petroleum sector in a Government Petroleum Fund, which is invested abroad and now is valued at more than $250 billion. sovereign wealth fund. After lackluster growth of less than 1% 1.5% in 2002-03, GDP growth picked up to 3-5% 2.5-6.2% in 2004-07, partly due to higher oil prices. Norway's economy remains buoyant. Domestic economic activity is, and will continue Growth fell to be, the main driver of growth, supported by high consumer confidence and strong investment spending 2.6% in 2008 as a result of the offshore oil and gas sector. Norway's record high budget surplus slowing world economy and upswing in the labor market drop in 2007 highlight the strength of its economic position going into 2008. oil prices.
Published as “Economy - overview”
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector, through large-scale state-majority-owned enterprises. The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on the petroleum sector, which accounts for nearly half of exports and over 30% of state revenue.
Norway is the world's second-largest gas exporter; its position as an oil exporter has slipped to ninth-largest as production has begun to decline. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget. In anticipation of eventual declines in oil and gas production, Norway saves almost all state revenue from the petroleum sector in the world's second largest sovereign wealth fund, valued at over $500 billion in 2010.
After lackluster growth of less than 1.5% in 2002-03, GDP growth picked up to 2.5-6.2% in 2004-07, partly due to higher oil prices. Growth fell to 1.8% in 2008, and the economy contracted by 1.4% in 2009 as a result of the slowing world economy and the drop in oil prices.
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector, through large-scale state state-majority-owned enterprises. The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on the petroleum sector, which accounts for nearly half of exports and over 30% of state revenue. Norway is the world's third-largest second-largest gas exporter; its position as an oil exporter has slipped to seventh-largest ninth-largest as production has begun to decline. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget. In anticipation of eventual declines in oil and gas production, Norway saves almost all state revenue from the petroleum sector in a the world's second largest sovereign wealth fund. fund, valued at over $500 billion in 2010. After lackluster growth of less than 1.5% in 2002-03, GDP growth picked up to 2.5-6.2% in 2004-07, partly due to higher oil prices. Growth fell to 2.6% 1.8% in 2008 2008, and the economy contracted by 1.4% in 2009 as a result of the slowing world economy and the drop in oil prices.
Published as “Economy - overview”
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector, through large-scale state-majority-owned enterprises. The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on the petroleum sector, which accounts for nearly half of exports and over 30% of state revenue.
Norway is the world's second-largest gas exporter; its position as an oil exporter has slipped to ninth-largest as production has begun to decline. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget. In anticipation of eventual declines in oil and gas production, Norway saves state revenue from the petroleum sector in the world's second largest sovereign wealth fund, valued at over $500 billion in 2010. After solid GDP growth in 2004-07, the economy slowed in 2008, and contracted in 2009, before returning to positive growth in 2010.
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector, through large-scale state-majority-owned enterprises. The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on the petroleum sector, which accounts for nearly half of exports and over 30% of state revenue. Norway is the world's second-largest gas exporter; its position as an oil exporter has slipped to ninth-largest as production has begun to decline. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget. In anticipation of eventual declines in oil and gas production, Norway saves almost all state revenue from the petroleum sector in the world's second largest sovereign wealth fund, valued at over $500 billion in 2010. After lackluster growth of less than 1.5% in 2002-03, solid GDP growth picked up to 2.5-6.2% in 2004-07, partly due to higher oil prices. Growth fell to 1.8% the economy slowed in 2008, and the economy contracted by 1.4% in 2009 as a result of the slowing world economy and the drop 2009, before returning to positive growth in oil prices. 2010.
Published as “Economy - overview”
The Norwegian economy is a prosperous mixed economy, with a vibrant private sector, a large state sector, and an extensive social safety net. The government controls key areas, such as the vital petroleum sector, through extensive regulation and large-scale state-majority-owned enterprises. The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on the petroleum sector, which accounts for the largest portion of export revenue and about 20% of government revenue.
Norway is the world's second-largest natural gas exporter; and seventh largest oil exporter, making one of its largest offshore oil finds in 2011. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget. In anticipation of eventual declines in oil and gas production, Norway saves state revenue from the petroleum sector in the world's second largest sovereign wealth fund, valued at over $700 billion in January 2013 and uses the fund's return to help finance public expenses. After solid GDP growth in 2004-07, the economy slowed in 2008, and contracted in 2009, before returning to positive growth in 2010-12, however, the government budget is set to remain in surplus.
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring mixed economy, with a combination of free market activity vibrant private sector, a large state sector, and government intervention. an extensive social safety net. The government controls key areas, such as the vital petroleum sector, through extensive regulation and large-scale state-majority-owned enterprises. The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on the petroleum sector, which accounts for nearly half the largest portion of exports export revenue and over 30% about 20% of state government revenue. Norway is the world's second-largest natural gas exporter; and seventh largest oil exporter, making one of its position as an largest offshore oil exporter has slipped to ninth-largest as production has begun to decline. finds in 2011. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget. In anticipation of eventual declines in oil and gas production, Norway saves state revenue from the petroleum sector in the world's second largest sovereign wealth fund, valued at over $500 $700 billion in 2010. January 2013 and uses the fund's return to help finance public expenses. After solid GDP growth in 2004-07, the economy slowed in 2008, and contracted in 2009, before returning to positive growth in 2010. 2010-12, however, the government budget is set to remain in surplus.
Published as “Economy - overview”
The Norwegian economy is a prosperous mixed economy, with a vibrant private sector, a large state sector, and an extensive social safety net. The government controls key areas, such as the vital petroleum sector, through extensive regulation and large-scale state-majority-owned enterprises. The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on the petroleum sector, which accounts for the largest portion of export revenue and about 20% of government revenue.
Norway is the world's third-largest natural gas exporter; and seventh largest oil exporter, making one of its largest offshore oil finds in 2011. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget. In anticipation of eventual declines in oil and gas production, Norway saves state revenue from the petroleum sector in the world's second largest sovereign wealth fund, valued at over $700 billion in January 2013 and uses the fund''s return to help finance public expenses. After solid GDP growth in 2004-07, the economy slowed in 2008, and contracted in 2009, before returning to positive growth in 2010-12, however, the government budget is set to remain in surplus.
The Norwegian economy is a prosperous mixed economy, with a vibrant private sector, a large state sector, and an extensive social safety net. The government controls key areas, such as the vital petroleum sector, through extensive regulation and large-scale state-majority-owned enterprises. The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on the petroleum sector, which accounts for the largest portion of export revenue and about 20% of government revenue. Norway is the world's second-largest third-largest natural gas exporter; and seventh largest oil exporter, making one of its largest offshore oil finds in 2011. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget. In anticipation of eventual declines in oil and gas production, Norway saves state revenue from the petroleum sector in the world's second largest sovereign wealth fund, valued at over $700 billion in January 2013 and uses the fund's fund''s return to help finance public expenses. After solid GDP growth in 2004-07, the economy slowed in 2008, and contracted in 2009, before returning to positive growth in 2010-12, however, the government budget is set to remain in surplus.
Published as “Economy - overview”
The Norwegian economy is a prosperous mixed economy, with a vibrant private sector, a large state sector, and an extensive social safety net. The government controls key areas, such as the vital petroleum sector, through extensive regulation and large-scale state-majority-owned enterprises. The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on the petroleum sector, which accounts for the largest portion of export revenue and about 30% of government revenue.
Norway is the world's third-largest natural gas exporter; and seventh largest oil exporter, making one of its largest offshore oil finds in 2011. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget. In anticipation of eventual declines in oil and gas production, Norway saves state revenue from the petroleum sector in the world's largest sovereign wealth fund, valued at over $830 billion in January 2014 and uses the fund's return to help finance public expenses. After solid GDP growth in 2004-07, the economy slowed in 2008, and contracted in 2009, before returning to positive growth in 2010-13. Nevertheless, the government budget remains in surplus.
The Norwegian economy is a prosperous mixed economy, with a vibrant private sector, a large state sector, and an extensive social safety net. The government controls key areas, such as the vital petroleum sector, through extensive regulation and large-scale state-majority-owned enterprises. The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on the petroleum sector, which accounts for the largest portion of export revenue and about 20% 30% of government revenue. Norway is the world's third-largest natural gas exporter; and seventh largest oil exporter, making one of its largest offshore oil finds in 2011. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget. In anticipation of eventual declines in oil and gas production, Norway saves state revenue from the petroleum sector in the world's second largest sovereign wealth fund, valued at over $700 $830 billion in January 2013 2014 and uses the fund''s fund's return to help finance public expenses. After solid GDP growth in 2004-07, the economy slowed in 2008, and contracted in 2009, before returning to positive growth in 2010-12, however, 2010-13. Nevertheless, the government budget is set to remain remains in surplus.
Published as “Economy - overview”
The Norwegian economy is a prosperous mixed economy, with a vibrant private sector, a large state sector, and an extensive social safety net. The government controls key areas, such as the vital petroleum sector, through extensive regulation and large-scale state-majority-owned enterprises. The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on the petroleum sector, which accounts for the largest portion of export revenue and about 30% of government revenue.
Norway is the world's third-largest natural gas exporter; and seventh largest oil exporter, making one of its largest offshore oil finds in 2011. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget. In anticipation of eventual declines in oil and gas production, Norway saves state revenue from the petroleum sector in the world's largest sovereign wealth fund, valued at over $870 billion in December 2014 and annually uses up to 4% of the fund, it’s projected long term return, to help finance public expenses.
After solid GDP growth in 2004-07, the economy slowed in 2008, and contracted in 2009, before returning to positive growth in 2010-14. Nevertheless, the government budget remains in surplus. Lower oil prices in 2015 may cause the economy to contract as higher costs production costs in the North Sea deter investment.
The Norwegian economy is a prosperous mixed economy, with a vibrant private sector, a large state sector, and an extensive social safety net. The government controls key areas, such as the vital petroleum sector, through extensive regulation and large-scale state-majority-owned enterprises. The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on the petroleum sector, which accounts for the largest portion of export revenue and about 30% of government revenue. Norway is the world's third-largest natural gas exporter; and seventh largest oil exporter, making one of its largest offshore oil finds in 2011. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget. In anticipation of eventual declines in oil and gas production, Norway saves state revenue from the petroleum sector in the world's largest sovereign wealth fund, valued at over $830 $870 billion in January December 2014 and annually uses up to 4% of the fund's return fund, it’s projected long term return, to help finance public expenses. After solid GDP growth in 2004-07, the economy slowed in 2008, and contracted in 2009, before returning to positive growth in 2010-13. 2010-14. Nevertheless, the government budget remains in surplus. Lower oil prices in 2015 may cause the economy to contract as higher costs production costs in the North Sea deter investment.
Published as “Economy - overview”
Norway's has a stable economy with a vibrant private sector, a large state sector, and an extensive social safety net. Norway opted out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget.
The country is richly endowed with natural resources in addition to oil and gas, including hydropower, fish, forests, and minerals. The government manages the country’s petroleum resources through extensive regulation. The petroleum sector provides about 9% of jobs, 15% of GDP, and 39% of exports, according to official national estimates. Norway is one of the world's leading petroleum exporters, though oil production in 2015 was close to 50% below its peak in 2000; annual gas production, conversely, more than doubled over the same time period.
In anticipation of eventual declines in oil and gas production, Norway saves state revenue from petroleum sector activities in the world's largest sovereign wealth fund, valued at over $800 billion as of early 2016. The government allows itself to use up to 4% of the fund’s value, its annual expected real rate of return, to help balance the federal budget each year. After solid GDP growth in 2004-07, the economy slowed in 2008, and contracted in 2009, before returning to modest, positive growth from 2010 to 2015.
Lower oil prices in 2015 caused growth to slow, increased unemployment, and weakened the Norwegian krone. The latter trend has mitigated the negative impact of lower oil and gas prices by making Norwegian exports cheaper for foreign buyers. The government has expressed willingness to increase public spending from the sovereign wealth fund to help prevent a recession.
The Norwegian economy is Norway's has a prosperous mixed economy, stable economy with a vibrant private sector, a large state sector, and an extensive social safety net. The government controls key areas, such as the vital petroleum sector, through extensive regulation and large-scale state-majority-owned enterprises. The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on the petroleum sector, which accounts for the largest portion of export revenue and about 30% of government revenue. Norway is the world's third-largest natural gas exporter; and seventh largest oil exporter, making one of its largest offshore oil finds in 2011. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget.
The country is richly endowed with natural resources in addition to oil and gas, including hydropower, fish, forests, and minerals. The government manages the country’s petroleum resources through extensive regulation. The petroleum sector provides about 9% of jobs, 15% of GDP, and 39% of exports, according to official national estimates. Norway is one of the world's leading petroleum exporters, though oil production in 2015 was close to 50% below its peak in 2000; annual gas production, conversely, more than doubled over the same time period.
In anticipation of eventual declines in oil and gas production, Norway saves state revenue from the petroleum sector activities in the world's largest sovereign wealth fund, valued at over $870 $800 billion in December 2014 and annually uses as of early 2016. The government allows itself to use up to 4% of the fund, it’s projected long term fund’s value, its annual expected real rate of return, to help finance public expenses. balance the federal budget each year. After solid GDP growth in 2004-07, the economy slowed in 2008, and contracted in 2009, before returning to modest, positive growth in 2010-14. Nevertheless, the government budget remains in surplus. from 2010 to 2015. Lower oil prices in 2015 may cause caused growth to slow, increased unemployment, and weakened the economy Norwegian krone. The latter trend has mitigated the negative impact of lower oil and gas prices by making Norwegian exports cheaper for foreign buyers. The government has expressed willingness to contract as higher costs production costs in increase public spending from the North Sea deter investment. sovereign wealth fund to help prevent a recession.
Published as “Economy - overview”
Norway has a stable economy with a vibrant private sector, a large state sector, and an extensive social safety net. Norway opted out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget.
The country is richly endowed with natural resources in addition to oil and gas, including hydropower, fish, forests, and minerals. Norway is a leading producer and the world’s second largest exporter of seafood, after China. The government manages the country’s petroleum resources through extensive regulation. The petroleum sector provides about 9% of jobs, 12% of GDP, 13% of the state’s revenue, and 37% of exports, according to official national estimates.
Norway is one of the world's leading petroleum exporters, though oil production in 2016 was close to 50% below its peak in 2000; annual gas production, conversely, more than doubled over the same time period. After a continual decline from 2001 to 2013, oil production rose in 2016 for the third year running, due to the higher production of existing oil fields and to new fields coming on stream.
In anticipation of eventual declines in oil and gas production, Norway saves state revenue from petroleum sector activities in the world's largest sovereign wealth fund, valued at almost $900 billion as of early 2017. To help balance the federal budget each year, the government follows a “fiscal rule,” which states that spending of revenues from petroleum and fund investments shall correspond to the expected real rate of return on the fund, an amount it estimates is sustainable over time. In February 2017, the government revised the expected rate of return for the fund downward from 4% to 3%.
After solid GDP growth in the 2004-07 period, the economy slowed in 2008, and contracted in 2009, before returning to modest, positive growth from 2010 to 2016. Lower oil prices in 2015 and 2016 caused growth to slow, increased unemployment, and weakened the Norwegian krone. The latter trend has mitigated the negative impact of lower oil and gas prices by making Norwegian exports cheaper for foreign buyers. The government has expressed willingness to increase public spending from the sovereign wealth fund to help prevent a recession.
Norway's Norway has a stable economy with a vibrant private sector, a large state sector, and an extensive social safety net. Norway opted out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget.
The country is richly endowed with natural resources in addition to oil and gas, including hydropower, fish, forests, and minerals. Norway is a leading producer and the world’s second largest exporter of seafood, after China. The government manages the country’s petroleum resources through extensive regulation. The petroleum sector provides about 9% of jobs, 15% 12% of GDP, 13% of the state’s revenue, and 39% 37% of exports, according to official national estimates. Norway is one of the world's leading petroleum exporters, though oil production in 2015 2016 was close to 50% below its peak in 2000; annual gas production, conversely, more than doubled over the same time period. After a continual decline from 2001 to 2013, oil production rose in 2016 for the third year running, due to the higher production of existing oil fields and to new fields coming on stream.
In anticipation of eventual declines in oil and gas production, Norway saves state revenue from petroleum sector activities in the world's largest sovereign wealth fund, valued at over $800 almost $900 billion as of early 2016. The 2017. To help balance the federal budget each year, the government allows itself to use up to 4% follows a “fiscal rule,” which states that spending of revenues from petroleum and fund investments shall correspond to the fund’s value, its annual expected real rate of return, to help balance return on the federal budget each year. fund, an amount it estimates is sustainable over time. In February 2017, the government revised the expected rate of return for the fund downward from 4% to 3%.
After solid GDP growth in 2004-07, the 2004-07 period, the economy slowed in 2008, and contracted in 2009, before returning to modest, positive growth from 2010 to 2015. 2016. Lower oil prices in 2015 and 2016 caused growth to slow, increased unemployment, and weakened the Norwegian krone. The latter trend has mitigated the negative impact of lower oil and gas prices by making Norwegian exports cheaper for foreign buyers. The government has expressed willingness to increase public spending from the sovereign wealth fund to help prevent a recession.
The same text in 2018 and 2019.
Published as “Economy - overview”
Norway has a stable economy with a vibrant private sector, a large state sector, and an extensive social safety net. Norway opted out of the EU during a referendum in November 1994. However, as a member of the European Economic Area, Norway partially participates in the EU’s single market and contributes sizably to the EU budget. The country is richly endowed with natural resources such as oil and gas, fish, forests, and minerals.
Norway is a leading producer and the world’s second largest exporter of seafood, after China. The government manages the country’s petroleum resources through extensive regulation. The petroleum sector provides about 9% of jobs, 12% of GDP, 13% of the state’s revenue, and 37% of exports, according to official national estimates. Norway is one of the world's leading petroleum exporters, although oil production is close to 50% below its peak in 2000.
Gas production, conversely, has more than doubled since 2000. Although oil production is historically low, it rose in 2016 for the third consecutive year due to the higher production of existing oil fields and to new fields coming on stream. Norway’s domestic electricity production relies almost entirely on hydropower. In anticipation of eventual declines in oil and gas production, Norway saves state revenue from petroleum sector activities in the world's largest sovereign wealth fund, valued at over $1 trillion at the end of 2017.
To help balance the federal budget each year, the government follows a "fiscal rule," which states that spending of revenues from petroleum and fund investments shall correspond to the expected real rate of return on the fund, an amount it estimates is sustainable over time. In February 2017, the government revised the expected rate of return for the fund downward from 4% to 3%. After solid GDP growth in the 2004-07 period, the economy slowed in 2008, and contracted in 2009, before returning to modest, positive growth from 2010 to 2017.
The Norwegian economy has been adjusting to lower energy prices, as demonstrated by growth in labor force participation and employment in 2017. GDP growth was about 1.5% in 2017, driven largely by domestic demand, which has been boosted by the rebound in the labor market and supportive fiscal policies. Economic growth is expected to remain constant or improve slightly in the next few years.
Norway has a stable economy with a vibrant private sector, a large state sector, and an extensive social safety net. Norway opted out of the EU during a referendum in November 1994; nonetheless, 1994. However, as a member of the European Economic Area, it Norway partially participates in the EU’s single market and contributes sizably to the EU budget.in addition to such as oil and gas, including hydropower, fish, forests, and minerals. Norway is a leading producer and the world’s second largest exporter of seafood, after China. The government manages the country’s petroleum resources through extensive regulation. The petroleum sector provides about 9% of jobs, 12% of GDP, 13% of the state’s revenue, and 37% of exports, according to official national estimates. Norway is one of the world's leading petroleum exporters, though although oil production in 2016 was is close to 50% below its peak in 2000; annual gas 2000. Gas production, conversely, has more than doubled over the same time period. After a continual decline from 2001 to 2013, since 2000. Although oil production is historically low, it rose in 2016 for the third consecutive year running, due to the higher production of existing oil fields and to new fields coming on stream.almost $900 billion as over $1 trillion at the end of early 2017. To help balance the federal budget each year, the government follows a “fiscal rule,” "fiscal rule," which states that spending of revenues from petroleum and fund investments shall correspond to the expected real rate of return on the fund, an amount it estimates is sustainable over time. In February 2017, the government revised the expected rate of return for the fund downward from 4% to 3%.2016. Lower oil prices in 2015 and 2016 caused growth to slow, increased unemployment, and weakened the Norwegian krone. 2017. The latter trend Norwegian economy has mitigated the negative impact of been adjusting to lower oil energy prices, as demonstrated by growth in labor force participation and gas prices employment in 2017. GDP growth was about 1.5% in 2017, driven largely by making Norwegian exports cheaper for foreign buyers. The government domestic demand, which has expressed willingness to increase public spending from been boosted by the sovereign wealth fund rebound in the labor market and supportive fiscal policies. Economic growth is expected to help prevent a recession. remain constant or improve slightly in the next few years.
Norway has a stable economy with a vibrant private sector, a large state sector, and an extensive social safety net. Norway opted out of the EU during a referendum in November 1994. However, as a member of the European Economic Area, Norway partially participates in the EU’s single market and contributes sizably to the EU budget. The country is richly endowed with natural resources such as oil and gas, fish, forests, and minerals.
Norway is a leading producer and the world’s second largest exporter of seafood, after China. The government manages the country’s petroleum resources through extensive regulation. The petroleum sector provides about 9% of jobs, 12% of GDP, 13% of the state’s revenue, and 37% of exports, according to official national estimates. Norway is one of the world's leading petroleum exporters, although oil production is close to 50% below its peak in 2000.
Gas production, conversely, has more than doubled since 2000. Although oil production is historically low, it rose in 2016 for the third consecutive year due to the higher production of existing oil fields and to new fields coming on stream. Norway’s domestic electricity production relies almost entirely on hydropower. In anticipation of eventual declines in oil and gas production, Norway saves state revenue from petroleum sector activities in the world's largest sovereign wealth fund, valued at over $1 trillion at the end of 2017.
To help balance the federal budget each year, the government follows a "fiscal rule," which states that spending of revenues from petroleum and fund investments shall correspond to the expected real rate of return on the fund, an amount it estimates is sustainable over time. In February 2017, the government revised the expected rate of return for the fund downward from 4% to 3%. After solid GDP growth in the 2004-07 period, the economy slowed in 2008, and contracted in 2009, before returning to modest, positive growth from 2010 to 2017.
The Norwegian economy has been adjusting to lower energy prices, as demonstrated by growth in labor force participation and employment in 2017. GDP growth was about 1.5% in 2017, driven largely by domestic demand, which has been boosted by the rebound in the labor market and supportive fiscal policies. Economic growth is expected to remain constant or improve slightly in the next few years.
Norway has a stable economy with a vibrant private sector, a large state sector, and an extensive social safety net. Norway opted out of the EU during a referendum in November 1994. However, as a member of the European Economic Area, Norway partially participates in the EU’s single market and contributes sizably to the EU budget. The country is richly endowed with natural resources such as oil and gas, fish, forests, and minerals. Norway is a leading producer and the world’s second largest exporter of seafood, after China. The government manages the country’s petroleum resources through extensive regulation. The petroleum sector provides about 9% of jobs, 12% of GDP, 13% of the state’s revenue, and 37% of exports, according to official national estimates. Norway is one of the world's leading petroleum exporters, although oil production is close to 50% below its peak in 2000. Gas production, conversely, has more than doubled since 2000. Although oil production is historically low, it rose in 2016 for the third consecutive year due to the higher production of existing oil fields and to new fields coming on stream. Norway’s domestic electricity production relies almost entirely on hydropower. In anticipation of eventual declines in oil and gas production, Norway saves state revenue from petroleum sector activities in the world's largest sovereign wealth fund, valued at over $1 trillion at the end of 2017. To help balance the federal budget each year, the government follows a "fiscal rule," which states that spending of revenues from petroleum and fund investments shall correspond to the expected real rate of return on the fund, an amount it estimates is sustainable over time. In February 2017, the government revised the expected rate of return for the fund downward from 4% to 3%. After solid GDP growth in the 2004-07 period, the economy slowed in 2008, and contracted in 2009, before returning to modest, positive growth from 2010 to 2017. The Norwegian economy has been adjusting to lower energy prices, as demonstrated by growth in labor force participation and employment in 2017. GDP growth was about 1.5% in 2017, driven largely by domestic demand, which has been boosted by the rebound in the labor market and supportive fiscal policies. Economic growth is expected to remain constant or improve slightly in the next few years.
The same text in 2021 and 2022.
Norway has a stable economy with a vibrant private sector, a large state sector, and an extensive social safety net. Norway opted out of the EU during a referendum in November 1994. However, as a member of the European Economic Area, Norway partially participates in the EU’s single market and contributes sizably to the EU budget.
The country is richly endowed with natural resources such as oil and gas, fish, forests, and minerals. Norway is a leading producer and the world’s second largest exporter of seafood, after China. The government manages the country’s petroleum resources through extensive regulation. The petroleum sector provides about 9% of jobs, 12% of GDP, 13% of the state’s revenue, and 37% of exports, according to official national estimates.
Norway is one of the world's leading petroleum exporters, although oil production is close to 50% below its peak in 2000. Gas production, conversely, has more than doubled since 2000. Although oil production is historically low, it rose in 2016 for the third consecutive year due to the higher production of existing oil fields and to new fields coming on stream. Norway’s domestic electricity production relies almost entirely on hydropower.
In anticipation of eventual declines in oil and gas production, Norway saves state revenue from petroleum sector activities in the world's largest sovereign wealth fund, valued at over $1 trillion at the end of 2017. To help balance the federal budget each year, the government follows a "fiscal rule," which states that spending of revenues from petroleum and fund investments shall correspond to the expected real rate of return on the fund, an amount it estimates is sustainable over time. In February 2017, the government revised the expected rate of return for the fund downward from 4% to 3%.
After solid GDP growth in the 2004-07 period, the economy slowed in 2008, and contracted in 2009, before returning to modest, positive growth from 2010 to 2017. The Norwegian economy has been adjusting to lower energy prices, as demonstrated by growth in labor force participation and employment in 2017. GDP growth was about 1.5% in 2017, driven largely by domestic demand, which has been boosted by the rebound in the labor market and supportive fiscal policies. Economic growth is expected to remain constant or improve slightly in the next few years.
Norway has a stable economy with a vibrant private sector, a large state sector, and an extensive social safety net. Norway opted out of the EU during a referendum in November 1994. However, as a member of the European Economic Area, Norway partially participates in the EU’s single market and contributes sizably to the EU budget.
The country is richly endowed with natural resources such as oil and gas, fish, forests, and minerals. Norway is a leading producer and the world’s second largest exporter of seafood, after China. The government manages the country’s petroleum resources through extensive regulation. The petroleum sector provides about 9% of jobs, 12% of GDP, 13% of the state’s revenue, and 37% of exports, according to official national estimates. Norway is one of the world's leading petroleum exporters, although oil production is close to 50% below its peak in 2000. Gas production, conversely, has more than doubled since 2000. Although oil production is historically low, it rose in 2016 for the third consecutive year due to the higher production of existing oil fields and to new fields coming on stream. Norway’s domestic electricity production relies almost entirely on hydropower.
In anticipation of eventual declines in oil and gas production, Norway saves state revenue from petroleum sector activities in the world's largest sovereign wealth fund, valued at over $1 trillion at the end of 2017. To help balance the federal budget each year, the government follows a "fiscal rule," which states that spending of revenues from petroleum and fund investments shall correspond to the expected real rate of return on the fund, an amount it estimates is sustainable over time. In February 2017, the government revised the expected rate of return for the fund downward from 4% to 3%.
After solid GDP growth in the 2004-07 period, the economy slowed in 2008, and contracted in 2009, before returning to modest, positive growth from 2010 to 2017. The Norwegian economy has been adjusting to lower energy prices, as demonstrated by growth in labor force participation and employment in 2017. GDP growth was about 1.5% in 2017, driven largely by domestic demand, which has been boosted by the rebound in the labor market and supportive fiscal policies. Economic growth is expected to remain constant or improve slightly in the next few years.
- high-income non-EU European economy;
- aging labor force;
- large state-owned energy company constrains budget and spending;
- largest oil sovereign wealth fund;
- major fishing, forestry, and extraction industries;
- large welfare system
Rewritten: too little of the 2022 text remains to mark the changes.
high-income non-EU European economy; aging labor force; large state-owned energy company constrains budget and spending; largest oil sovereign wealth fund; major fishing, forestry, and extraction industries; large welfare system
- high-income, non-EU economy with trade links via European Economic Area (EEA);
- key European energy security role as leader in oil, gas, and electricity exports;
- major fishing, forestry, and extraction industries;
- oil sovereign fund supports generous welfare system;
- low unemployment;
- inflation and response hampering growth in non-energy sectors
Rewritten: too little of the 2023 text remains to mark the changes.
high-income, non-EU economy with trade links via European Economic Area (EEA); key European energy security role as leader in oil, gas, and electricity exports; major fishing, forestry, and extraction industries; oil sovereign fund supports generous welfare system; low unemployment; inflation and response hampering growth in non-energy sectors
- high-income, non-EU economy with trade links via European Economic Area (EEA);
- key role in European energy security as leader in oil, gas, and electricity exports;
- major fishing, forestry, and oil(?) extraction industries;
- oil sovereign fund supports generous welfare system;
- low unemployment;
- inflation moderating but remains above target level
high-income, non-EU economy with trade links via European Economic Area (EEA); key role in European energy security role as leader in oil, gas, and electricity exports; major fishing, forestry, and oil(?) extraction industries; oil sovereign fund supports generous welfare system; low unemployment; inflation and response hampering growth in non-energy sectors moderating but remains above target level
No edition has those words. Try a shorter word.
Cite this page
Central Intelligence Agency. “Norway: Economic overview.” The World Factbook, 1990–2025 editions. Archived by The Factbook, thefactbook.org/norway/economic-overview.