Norway, a land of natural resources, oil and gas, agriculture and prosperous capitalist welfare state and social democracy
Norway is a great reference for numerous countries across the world. In
effect, Norway with its market of + 5 million consumers ranks as the
second-wealthiest country in the world in monetary value, with the largest
capital reserve per capita of any nation.
The
Norwegian economy is billed as an example of a
mixed economy, a prosperous capitalist welfare state and social democracy
country featuring a combination of free market activity and large state
ownership in certain key sectors.
The state
income derived from natural resources includes a significant contribution from
petroleum production.
The
egalitarian values of Norwegian society have kept
the wage difference between the lowest paid worker and the CEO of most
companies as much less as in comparable western economies.
The state
has large ownership positions in key industrial sectors.
Norway is a major shipping nation and has the world's 6th largest merchant
fleet, with 1,412 Norwegian-owned merchant vessels.
Norway, together with Iceland and Liechtenstein, participates in the European Union's
single market through the European Economic Area (EEA) agreement.
Norway is a highly integrated member of most sectors of the EU internal market. Norway has also acceded to the Schengen
Agreement and several other intergovernmental agreements among the EU member
states.
The country is richly endowed with natural resources including petroleum, hydropower,
fish, forests, and minerals.
Norway is the first country which banned cutting of trees (deforestation), in order
to prevent rain forests from vanishing.
Agriculture is a significant sector, in spite of the mountainous landscape. Norway is
the fifth-largest oil exporter and third-largest gas exporter in the world, but
it is not a member of OPEC.
The
investment choices of the Norwegian fund are
directed by ethical guidelines; for example, the fund is not allowed to invest
in companies that produce parts for nuclear weapons.
Norway
contains significant mineral resources, and in 2013, its mineral production was
valued at US$1.5 billion (Norwegian Geological Survey data). The most valuable minerals are calcium
carbonate (limestone), building stone, nepheline
syenite, olivine, iron, titanium, and nickel.
Due to the
low population density, narrow shape and long
coastlines of Norway, its public transport is less developed than in many
European countries, especially outside the major cities.
All domestic
passenger trains except the Airport Express Train are operated
by NorgesStatsbaner (NSB).
The most
important national routes are part of the European
route scheme. National and county roads are managed by the Norwegian Public
Roads Administration.
Norway has the world's largest registered stock of plug-in electric vehicles per capita.
Of the 97
airports in Norway, 52 are public, and 46 are
operated by the state-owned Avinor.
The central
gateway to Norway by air is Oslo Airport,
Gardermoen. Located about 35 kilometres (22 mi) northeast of Oslo, it is
hub for the two major Norwegian airlines: Scandinavian Airlines and Norwegian
Air Shuttle, and for regional aircraft from Western Norway.
There are
departures to most European countries and some intercontinental destinations.
A
direct high-speed train connects to Oslo Central Station every 10 minutes
for a 20 min ride.
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