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Please give sources...Thank you in regards.

2007-02-16 06:51:39 · 3 answers · asked by o0szio0 3 in Social Science Economics

3 answers

"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, forests, and minerals - and is highly dependent on its oil production and international oil prices, with oil and gas accounting for one-third of exports. Only Saudi Arabia and Russia export more oil than Norway. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, it contributes sizably to the EU budget. The government has moved ahead with privatization. Although Norwegian oil production peaked in 2000, natural gas production is still rising. Norwegians realize that once their gas production peaks they will eventually face declining oil and gas revenues; accordingly, Norway has been saving its oil-and-gas-boosted budget surpluses in a Government Petroleum Fund, which is invested abroad and now is valued at more than $250 billion. After lackluster growth of less than 1% in 2002-03, GDP growth picked up to 3-4% in 2004-06. Norway's economy remains buoyant. Domestic economic activity is, and will continue to be, the main driver of growth, supported by high consumer confidence and strong investment spending in the offshore oil and gas sector. "

2007-02-16 08:17:42 · answer #1 · answered by Giggly Giraffe 7 · 0 1

this is kinda actual what clever Sage (Steve) suggested. yet Norway additionally export lots of fish and weapons. And Norway do no longer import that lots timber. one element i understand for specific it incredibly is being imported is fruit. The Norwegian climate is relatively frustrating and chilly, so lots of the fruit is from warmer countries like Spain and u.s..

2016-10-02 06:17:54 · answer #2 · answered by ? 4 · 0 0

Fish, electricity.

2007-02-16 06:59:47 · answer #3 · answered by Mighty C 5 · 0 1

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