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Country | Norway |
Width | 300px |
Currency | 1 Norwegian krone (NOK)=100 øre |
Year | Calendar year |
Organs | OECD, WTO, European Economic Area and others |
Gdp | $276.5 billion (2009 est.) |
Growth | 0.447% (2010) |
Per Capita | $53,269 ( est.) (PPP) (3rd) |
Sectors | agriculture: 2.2%; industry: 45.1%; services: 52.7% (2009 est.) |
Inflation | 2.7% (2011 est.) |
Gini | 25 (2008) |
Edbr | 8th |
Labor | 2.6 million (2009 est.) |
Occupations | agriculture: 2.9%; industry: 21.1%; services: 76% (2008) |
Unemployment | 3.6% (October 2010) |
Average Gross Salary | 35,200 NOK / 6,079 $, monthly (Sep. 2009) |
Industries | petroleum and natural gas, food processing, shipbuilding, wood pulp and paper products, metals, chemicals, timber, mining, textiles, fishing |
Exports | $122 billion (2009 est.) |
Export-goods | petroleum and petroleum products, machinery and equipment, metals, chemicals, ships, fish |
Export-partners | United Kingdom 27%, Germany 12.8%, Netherlands 10.4%, France 9.4%, Sweden 6.5%, United States 4.5% (2008) |
Imports | $64.5 billion (2009 est.) |
Import-goods | machinery and equipment, chemicals, metals, foodstuffs |
Import-partners | Sweden 14.3%, Germany 13.4%, Denmark 6.8%, China 6.4%, United Kingdom 5.9%, United States 5.4%, Netherlands 4.1% (2008) |
FDI | $93.88 billion (31 December 2009 est.) |
Gross External Debt | $548.1 billion (30 June 2009) |
Debt | 60.2% of GDP (2009 est.) |
Revenue | $206.9 billion |
Expenses | $169 billion (2009 est.) |
Aid | $2.20 billion (donor), 0.87% of GDP (2004) [http://epp.eurostat.ec.europa.eu/cache/ITY_PUBLIC/3-01022011-AP/EN/3-01022011-AP-EN.PDF |
Credit | *Standard & Poor's: AAA (Domestic) AAA (Foreign) AAA (T&C Assessment) Outlook: Stable
*Moody's: Aaa Outlook: Stable
*Fitch: AAA Outlook: Stable |
Reserves | US$54.504 billion (March 2011) |
Cianame | no |
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The economy of Norway is a developed mixed economy with heavy state-ownership in strategic areas of the economy. Although sensitive to global business cycles, the economy of Norway has shown robust growth since the start of the industrial era. Shipping has long been a support of Norway's export sector, but much of Norway's economic growth has been fueled by an abundance of natural resources, including petroleum exploration and production, hydroelectric power, and fisheries. Agriculture and traditional heavy manufacturing have suffered relative decline compared to services and oil-related industries, and the public sector is among the largest in the world as a percentage of the overall gross domestic product. The country has a very high standard of living compared with other European countries, and a strongly integrated welfare system.
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