Economy of Norway
Economy of Norway
Currency
1 Norwegian krone (NOK) =
100 øre
Fiscal year
1 January - 31 December
Trade
organisations
OECD, WTO, European
Economic Area and others
Statistics
GDP
$246.6 billion (2007 est.)
GDP growth
3.7% (2007 est.)
GDP per capita $53,300 (2007 est.) (PPP)
(4th)
GDP by sector
agriculture (2.4%), industry
(41.9%), services (55.7%)
(2007 est.)
Inflation (CPI)
0.8% (2007 est.)
Population
below poverty
line
NA% (2006)
Labour force
2.507 million (2007 est.)
Labour force
by occupation
agriculture (4%),
manufacturing (22%),
services (74%)(1995)
Unemployment 2.5% (2007 est.)
Main
industries
petroleum and gas, food
processing, shipbuilding,
pulp and paper products,
metals, chemical, timber,
mining, textiles, fishing
External
Exports
$140.3 billion (2007 est.)
Export goods
petroleum and petroleum
products, machinery and
equipment, metals,
chemicals, ships, fish
Main export
partners
UK 26.3%, Germany 12.3%,
Netherlands 10.2%, France
8%, Sweden 6.5%, US 6.2%
(2007)
Imports
$77.24 billion (2007 est.)
Import goods
machinery and equipment,
chemicals, metals, foodstuffs
Main import
partners
Sweden 14.7%, Germany
13.6%, UK 6.9%, Denmark
6.4%, People’s Republic of
China 6.1%, US 4.8%,
Canada 4.3% (2007)
Public finances
Public Debt
44.8% of GDP
Revenues
$226.3 billion (2007 est.)
Expenses
$158.7 billion (2007 est.)
Economic aid
$2.20 billion (donor), 0.87%
of GDP (2004) [1]
Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US
dollars
Norway’s GDP, 1979 to 2004. Source: Statist-
ics Norway.
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 Nor-
way’s export sector, but much of Norway’s
economic growth has been fueled by an
abundance of natural resources, including
petroleum exploration and production, hydro-
electric power, and fisheries. Agriculture and
traditional
heavy
manufacturing
have
From Wikipedia, the free encyclopedia
Economy of Norway
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