Category: Norway

Norway – Fast Facts


Norway comes under high-income OECD group economies as to the classification made by the World Bank on the basis of income and region for the year 2006.

Norway has experienced an impressive economic growth over the years. Petroleum exploration in the country largely contributes to the country’s economy. Services sector has the highest percentage share in the total GDP of the country followed by the industries.

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Norway Economic Forecast


Based on welfare capitalism that includes free market activity and government intervention, Norway has a wealthy economy. Keep in mind that several primary areas of the economy are controlled by the government to include the oil and gas sector. This country also boasts rich natural resources such as oil, gas, hydropower, minerals, forests, and fish. Of these, Norway depends heavily on the oil and gas sector, which accounts for about 50% of the country’s exportation, as well as 30% of revenue for the country.

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