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 enterprises). The country is richly endowed with natural resources - petroleum, hydropower, fish, forest, and minerals - and is higly dependent on its oil production and international oil prices, with oil and gas accoutning for one-third fo exports. Only Saudi Arabia and Russia export more oil than Norway. norway opted to stay out for the EU during a referendum in Norvember 1994. Nonetheless, it contributes sizably to the EU budget. The government has moved ahead with privatization. Norwegians worry about that time in the next two decades when the oil and gas will begin to run out; accordingly, Norway has been saving its oil-boosted budget surpluses in a Governemnt Petroleum Fund, which is invested abroad and now is valued at more than $ 150 billion.
GDP pr.capita: NOK 747 800 (EUR 74 800) (as pr. 2018)
GDP (2018): NOK 3,96 Billion (EUR 394,3 million)
GDP composition by sector (as of 2017): Agriculture; 2,3%. Industry: 33,7%. Services: 64%
Unemployment rate (as of 2018): 3,9%
Public debt (as of 2017): 36,5% of GDP.
Agriculture products: Barley, wheat, potatoes, pork, beef, veal, milk and fish.
Industries: Petroleum and gas, food processing, shipbuilding, pulp and paper products, metals, chemicals, timber, mining, textiles, fishing.
Oil production: 1,353 million bbl/day
Natural gas production: 73.4 billion cu m
Export: $ 111.2 billion f.o.b
Export commodities: machinery and equiment, chemicals, metals, foodstuffs.
Debt - external: $ 639.3 billion; note- Norway is a net external creditor (June 2019)
Currency code: Norwegian krone (NOK)
Note: All values are est. values from 2018-2019