ertical part of the cross is
shifted to the hoist side in the style of the Dannebrog (Danish flag)

Norway Economy

Economy - overview: 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; in
1999, oil and gas accounted for 35% of exports. Only Saudi Arabia
exports more oil than Norway. Oslo opted to stay out of the EU
during a referendum in November 1994. Growth picked up in 2000 to
2.7%, compared to the meager 0.8% of 1999, but may fall back in
2001. The government moved ahead with privatization in 2000, even
proposing the sale of up to one-third of the 100% state-owned oil
company Statoil. Despite their high per capita income and generous
welfare benefits, Norwegians worry about that time in the next two
decades when the oil and gas begin to run out. Accordingly, Norway
has been saving its oil-boosted budget surpluses in a Government
Petroleum Fund, which is invested abroad and now is valued at more
than $43 billion.

GDP: purchasing power parity - $124.1 billion (1999 est.)

GDP - real growth rate: 2.7% (2000 est.)

GDP - per capita: purchasing power parity - $27,700 (2000 est.)

GDP - composition by sector: agriculture: 2%

industry: 25%

services: 73% (1999)

Population below poverty line: NA%

Household income or consumption by percentage share: lowest 10%:
4.1%

highest 10%: 21.8% (1995)

Inflation rate (consumer prices): 2.9% (2000 est.)

Labor force: 2.4 million (2000 est.)

Labor force - by occupation: services 74%, industry 22%,
agriculture, forestry, and fishing 4% (1995)

Unemployment rate: 3% (2000 est.)

Budget: revenues: $71.7 billion

expenditures: $57.6 billion, including capital expenditures of $NA
(2000 est.)

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

Industrial production growth rate: 3% (2000 est.)

Electricity - production: 121.084 billion kWh (1999)

Electricity - production by source: fossil fuel: 0.63%

hydro: 99.11%

nuclear: 0%

other: 0.26% (1999)

Electricity