Norway/

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.

$276.4 billion (2010 est.)

$272.3 billion (2009 est.)

$276.2 billion (2008 est.)

$413.5 billion (2010 est.)

1.5% (2010 est.)

-1.4% (2009 est.)

1.8% (2008 est.)

$59,100 (2010 est.)

$58,400 (2009 est.)

$59,500 (2008 est.)

2.59 million (2010 est.)

3.7% (2010 est.)

3.2% (2009 est.)

NA%

25 (2008)

25.8 (1995)

18.6% of GDP (2010 est.)

47.7% of GDP (2010 est.)

49.8% of GDP (2009 est.)

2.4% (2010 est.)

2.1% (2009 est.)

4% (31 December 2008)

6.25% (31 December 2007)

4.28% (31 December 2009 est.)

7.28% (31 December 2008 est.)

$122.2 billion (31 December 2010 est)

$118.3 billion (31 December 2009 est)

$256.3 billion (31 December 2010 est.)

$243.3 billion (31 December 2009 est.)

$414.5 billion (31 December 2010 est.)

$379.6 billion (31 December 2009 est.)

$227.2 billion (31 December 2009)

$125.9 billion (31 December 2008)

$357.4 billion (31 December 2007)

barley, wheat, potatoes; pork, beef, veal, milk; fish

petroleum and gas, food processing, shipbuilding, pulp and paper products, metals, chemicals, timber, mining, textiles, fishing

0.3% (2010 est.)

142.7 billion kWh (2008 est.)

128.8 billion kWh (2008 est.)

17.29 billion kWh (2008 est.)

3.414 billion kWh (2008 est.)

2.35 million bbl/day (2009 est.)

204,100 bbl/day (2009 est.)

2.061 million bbl/day (2008 est.)

107,500 bbl/day (2008 est.)

6.68 billion bbl (1 January 2010 est.)

103.5 billion cu m (2009 est.)

4.62 billion cu m (2009 est.)

98.85 billion cu m (2009 est.)

0 cu m (2008 est.)

2.313 trillion cu m (1 January 2010 est.)

$60.23 billion (2010 est.)

$53.53 billion (2009 est.)

$137 billion (2010 est.)

$122 billion (2009 est.)

petroleum and petroleum products, machinery and equipment, metals, chemicals, ships, fish

UK 24.28%, Germany 13.4%, Netherlands 10.87%, France 8.55%, Sweden 5.76%, US 4.82% (2009)

$74.02 billion (2010 est.)

$66.68 billion (2009 est.)

machinery and equipment, chemicals, metals, foodstuffs

Sweden 13.86%, Germany 12.89%, China 7.8%, Denmark 6.78%, US 6.16%, UK 6.01% (2009)

$NA (31 December 2010 est.)

$48.86 billion (31 December 2009 est.)

$2.232 trillion (30 June 2010)

$475.9 billion (31 December 2008)

$132.8 billion (31 December 2010 est.)

$128.4 billion (31 December 2009 est.)

$226.6 billion (31 December 2010 est.)

$206 billion (31 December 2009 est.)

Norwegian kroner (NOK) per US dollar - 6.1533 (2010), 6.2883 (2009), 5.6361 (2008), 5.86 (2007), 6.418 (2006)