Country summary | |
---|---|
Capital |
Oslo |
Borders |
|
Government type |
constitutional monarchy |
Population |
4,660,539 (July 2010 est.)[1] |
Population growth |
0.341% (2010 est.)[1] |
Life expectancy |
79.95 years[1] |
Unemployment |
3.2% (2009 est.)[1] |
37[2] | |
11[3] | |
10[4] |
Two centuries of Viking raids into Europe tapered off following the adoption of Christianity by King Olav TRYGGVASON in 994. Conversion of the Norwegian kingdom occurred over the next several decades. In 1397, Norway was absorbed into a union with Denmark that lasted more than four centuries. In 1814, Norwegians resisted the cession of their country to Sweden and adopted a new constitution. Sweden then invaded Norway but agreed to let Norway keep its constitution in return for accepting the union under a Swedish king. Rising nationalism throughout the 19th century led to a 1905 referendum granting Norway independence. Although Norway remained neutral in World War I, it suffered heavy losses to its shipping. Norway proclaimed its neutrality at the outset of World War II, but was nonetheless occupied for five years by Nazi Germany (1940-45). In 1949, neutrality was abandoned and Norway became a member of NATO. Discovery of oil and gas in adjacent waters in the late 1960s boosted Norway's economic fortunes. The current focus is on containing spending on the extensive welfare system and planning for the time when petroleum reserves are depleted. In referenda held in 1972 and 1994, Norway rejected joining the EU.[1]
- See also: Scandinavia
- See also: Scandinavia and the social state
Economical characteristics[]
- Currency: Norwegian krone (ISO code: NOK)
- Central bank discount rate: 4% (31 December 2008)[1]
- Commercial banks lending rate: 7.28% (31 December 2008)[1]
- is part of the Eurozone
Statistics[]
Statistic / Year | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 |
---|---|---|---|---|---|---|---|---|---|---|
GDP (million USD)[5] | 159 045 | 168 288 | 170 923 | 191 927 | 225 110 | 258 581 | 302 013 | 336 734 | 388 473 | 451 830 |
Govt. debt (% of GDP)[6] | 23.471 | 19.925 | 28.590 | 36.859 | 39.175 | 36.157 | 49.432 | 47.112 | 44.861 | |
Govt. revenue (% of GDP)[7] | 48.396 | 47.379 | 47.491 | 46.080 | 47.671 | 48.794 | 50.903 | 50.549 | 51.164 | |
Govt. expenses (% of GDP)[8] | 32.611 | 33.312 | 38.159 | 37.532 | 35.642 | 33.254 | 31.821 | 31.720 | 30.655 | |
Debt to revenue (years) | 0.485 | 0.421 | 0.602 | 0.800 | 0.822 | 0.741 | 0.971 | 0.932 | 0.877 |
References[]
Note: statistical data was rounded. Different sources may use different methodologies for their estimates. Debt to revenue is calculated by dividing the two variables from their original ('unrounded') values. It represents how long it would a government take to repay its entire debt if it used its whole revenue for this purpose.
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 CIA - The World Facebook. "Norway", from The World Facebook. Referenced 2010-09-29.
- ↑ Heritage Foundation. "Norway", Economic Freedom Score. A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-09-29.
- ↑ Transparency International. "Norway", Corruption Perceptions Index 2009. A lower ranking is better; but please note that the numbers cannot be compared between countries or years due to different methodology. Referenced 2010-09-29.
- ↑ Doing Business. "Norway", Doing Business 2010 (part of The World Bank Group). A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-09-29.
- ↑ World Bank. "Norway: GDP", from World Bank Data. Referenced 2010-09-29.
- ↑ World Bank. "Norway: government debt", from World Bank Data. Referenced 2010-09-29.
- ↑ World Bank. "Norway: government revenue", from World Bank Data. Referenced 2010-09-29.
- ↑ World Bank. "Norway: government expenses", from World Bank Data. Referenced 2010-09-29.
External links[]
- Norway on Wikipedia
- Central bank of Norway
- BBC country profile
- New Challenges to the Nordic Welfare Model (pdf) by Bruce Bawer, May/June 2001
- Austrian Economics: Application on Norwegian Business Cycles (pdf), by Håkon Bjerkenes, Håkon Kiil, and Paal Anker-Nilssen, June 2010