Norway at a glance

Norway is a North European kingdom. It is a developed country and has a large sum of natural resources. The economic condition of Norway is well. Its population is not so large. Oslo is its capital. The area of Norway is 3,23,895 square kilometer. Its total population is 43,00,000. Region North Europe Population Total population is 43,00,000 Economy GDP 413500000000 in 2011 GDP real growth is 9.22 in 2011 Government Republic country

GDP (Gross domestic product)

Gross domestic product (GDP) refers the value of all final goods and services produced within a nation in a given year. A nation's GDP at official exchange rates (OER) is the home-currencydenominated annual GDP figure divided by the bilateral average US exchange rate with that country in that year. Year 2009 2010 2011 GDP (official exchange rate) 456200000000 378600000000 413500000000 Rank 24 24 25 Percent Change -17.01 % 9.22%

GDP (purchasing power parity): $276.4 billion (2010 est.) $272.3 billion (2009 est.) $276.2 billion (2008 est.)

Real growth rate of GDP Year 2009 2010 2011 GDP - real growth rate 2.60% -1.40% 1.50% Rank 142 138 164 Percent Change -29.73%` -153.85 % -207.14 %

Gross National Product

Gross National Product is the total value added from domestic and foreign sources claimed by residents of a country. In other words it is GDP (Gross Domestic Product, the value of goods and services produced within a country) plus net income received by residents from non-resident sources. GNP/capita is the total divided by the number of people in the country. In other words, GNP/capita is a measure of national income per person.

Interest Rate
The interest rate term structure is the relation between the interest rate and the time to maturity of the debt for a given borrower in a given currency. The benchmark interest rate in Norway was last reported at 5 percent. In Norway the interest rates decisions are taken by its central bank. Norways average interest rate was 5.03 percent reaching an historical high of 5.75 percent in August of 2010 and a record low of 3.60 percent in January of 2009. This page includes:

Indicator

Reference

Actual

Previous

Nest Release

Impact

Interest Rate

March/2011

5.03

5.00

****

Foreign Direct Investment

Foreign direct investment (FDI) in Norway declined 67 percent in the first quarter from a year before amid the global economic slump, a government official. Foreign direct investment (FDI) in Norway tumbled almost 56 percent in the first quarter of this year, according to a government report on a sign that companies battered by the global financial crisis are trimming overseas spending to weather the deepening recession.

Stock of direct foreign investment - abroad:

$226.6 billion (31 December 2010 est.) $206 billion (31 December 2009 est.)

Year

Stock of direct foreign investment - abroad 2008 126100000000 2009 160100000000 2010 206000000000 2011 226600000000

Rank 19 19 18 18

Percent Change 26.96 % 28.67 % 10.00 %

Date of Information 2007 est. 31 December 2008 est. 31 December 2009 est. 31 December 2010 est.

Employment-to-population ratio, both sexes, percentage

Year 2009 2010 2011 Value 82.8 84.80 84.70 Rank

29
26 30

Unemployment Rate
2.60 (2009) 3.20 (2010) 3.60 (2011)

Literacy Rate
Literacy Rate
78.33%

Male Literacy Rate

89.56%

Female Literacy Rate

65%

According to the CIA World Fact book, the literacy rate in Norway, overall, is 78.33%. This is broken down into a literacy rate for males of 89.56% and for females, 65%.

Main Products
SL. No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Product
Wheat Baby & children products Barley Electronics Potatoes Natural Gas Fashion Accessories Beef Electronic Components Oil Machinery & Industrial Supplies Solar & Energy Saving Products Veal Milk Pork Fish

Most Exported Items

Exports - commodities: Petroleum and petroleum products, machinery and equipment, metals, chemicals, ships, fish. Exports - partners: UK 24.28%, Germany 13.4%, Netherlands 10.87%, France 8.55%, Sweden 5.76%, US 4.82% (2009).

The condition of export business of recent years in Norway is given below: Year 2009 2010 2011 Exports
$168,800,000,000 $122,000,000,000 $137,000,000,000

Rank 28 29 30

Percent Change 20.31 % -27.73 % 12.30 %

This figure is calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms. The most exported item of Norway is oil and the recent condition of this exported item is: Year 2009 2010 2011 Oil - exports $ 2,310,000 $ 2,061,000 $ 2,150,000 Rank 7 8 8 Percent Change
-14.89 % -10.78 % 4.32 %

Most Imported Item

Imports - commodities:
Machinery and equipment, chemicals, metals, foodstuffs

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

Imports:
$74.02 billion (2010 est.) $66.68 billion (2009 est.)

Imports 2009 2010 2011

Rank 38 35 36

Percent Change

Date of Information 11.33 % -22.46 % 11.01 % 2008 est. 2009 est. 2010 est.

$85,990,000,000 $66,680,000,000 $74,020,000,000

Industrialization
Industrialization is the process of social and economic change that transforms a human group from an agrarian society into an industrial one. It is a part of a wider modernization process, where social change and economic development are closely related with technological innovation, particularly with the development of large-scale energy and metallurgy production. It is the extensive organization of an economy for the purpose of manufacturing.
Industrial production growth rate: 4.8%

Year 2009 2010 2011

Industrial production growth rate -.20 %

Rank 135 98 152

Percent Change
-300.00 % 1350.00 % -110.34 %

-2.90% .30%

Natural gas - consumption:

Year Natural gas consumption 6,500,000,000 4,620,000,000 4,620,000,000 Rank Percent Change 0.00 % -28.92 % 0.00 % Date of Information 2009 2010 2011 53 59 59 2007 est. 2009 est. 2009 est.

Nature of the Country

Norway is a country with abundant natural resources, including natural gas and oil. There are some national parks, and each park features unique attractions, outstanding facilities, and opportunities to see animals in Norway. Those interested in trekking, mountain biking, photography, birding, camping, scuba diving, or getting up close to exotic animals in Norway have many options to choose from. It is mainly oil exported country.