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map of Norway

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Country name:

conventional long form: Kingdom of Norway
conventional short form: Norway
local long form: Kongeriket Norge

 

Capital:

Oslo. Population: 578,870 (2009).
 

 

Location:

Northern Europe, bordering the North Sea and the North Atlantic Ocean, west of Sweden

 

Area:

385,155 sq km (148,669 sq miles).
 

 

Description:

Norway is bordered to the north by the Arctic Ocean, to the east by Finland, the Russian Federation and Sweden, to the south by the Skagerrak (which separates it from Denmark) and to the west by the North Sea. The coastline is more than 20,000km (12,400 miles) long, its most outstanding feature being the fjords. Most of them are between 80- to 160km- (50 to 100 miles) long, and are often very deep and surrounded by towering mountains. Much of northern Norway lies beyond the Arctic Circle and the landscape is stark. In the south, the landscape consists of forests with many lakes, rivers and mountains.

 

Population:

4.8 million (2009).

 

Languages:

Norwegian (Bokm?�l and Nynorsk). Sami is spoken by the Sami population in the north. English is widely spoken.
 

 

Climate:

Coastal areas have a moderate climate owing to the Gulf Stream and North Atlantic Drift. Inland temperatures are more extreme with warm summers and often very cold winters (November to March). In general, the lowlands of the south and the inland mountains experience colder winters than the coastal areas. Rain is distributed throughout the year with frequent inland snowfalls during the winter. The northern part of the country inside the Arctic Circle has continuous daylight in midsummer, and twilight all day during winter - you might even see the Northern Lights if you're lucky. The best time to visit is between mid May and mid August, unless you're coming to ski, in which case the best time is December to Easter.

Economy - overview:

The Norwegian economy is dominated by its oil and gas industry, which accounts for nearly 20% of GDP and 60% of export earnings. There is little cultivable land in Norway, but many farmers breed livestock, combining this with forestry to supply Norway's numerous sawmills. Consequently, wood products and paper are both thriving industries.
Offshore fishing has been in decline for some time, although a large number of fish farms have been established, making Norway the world's largest supplier of salmon. Heavy engineering industries, principally shipbuilding and machinery, have also declined (although Norway retains a large merchant fleet).

Although growth has been sluggish in recent years (1.3% in 2009, down from 2.7% in 2008), Norway maintains a very high standard of living.

Norway has been a major oil and gas exporter since the mid 1970s, after discovering large deposits of both in the North Sea. Proven oil reserves are around 11 billion barrels (one-tenth of Saudi reserves and 1% of the world total). Much of the income is invested in a fund, now worth over US$400 billion, for such time as the oil and gas run out (perhaps in 15 to 20 years).

Norway is a member of the European Free Trade Association (EFTA) and as such trades freely with the EU.

Economy:

The Norwegian economy is dominated by its oil and gas industry, which accounts for nearly 20% of GDP and 60% of export earnings. There is little cultivable land in Norway, but many farmers breed livestock, combining this with forestry to supply Norway's numerous sawmills. Consequently, wood products and paper are both thriving industries.
Offshore fishing has been in decline for some time, although a large number of fish farms have been established, making Norway the world's largest supplier of salmon. Heavy engineering industries, principally shipbuilding and machinery, have also declined (although Norway retains a large merchant fleet).

Although growth has been sluggish in recent years (1.3% in 2009, down from 2.7% in 2008), Norway maintains a very high standard of living.

Norway has been a major oil and gas exporter since the mid 1970s, after discovering large deposits of both in the North Sea. Proven oil reserves are around 11 billion barrels (one-tenth of Saudi reserves and 1% of the world total). Much of the income is invested in a fund, now worth over US$400 billion, for such time as the oil and gas run out (perhaps in 15 to 20 years).

Norway is a member of the European Free Trade Association (EFTA) and as such trades freely with the EU.

 

 

Industries:

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

 

Exports:
Crude oil, natural gas, refined petroleum products, machinery and forestry products.

Imports:
Machinery and transport equipment, manufactured goods and chemical or related products.

Main trade partners: UK, Germany, The Netherlands, France and Sweden.

Exchange rates:
Norwegian Krone (NOK; symbol Kr) = 100 ?�re. Notes are in denominations of Kr1,000, 500, 200, 100 and 50. Coins are in denominations of Kr20, 10, 5 and 1, and 50 ?�re
http://www.worldtravelguide.net/country/208/money/Europe/Norway.html

GDP :
US$440billion (2008).

 

 

 

Useful links:

         The Government

 

 

 

  Copyright By :  Kish Trade Promotion Center  2002