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. With arguably the highest quality of life worldwide,
Norwegians still 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 Government Petroleum
Fund, which is invested abroad and now is valued at more than $150
billion. After lackluster growth of 1% in 2002 and 0.5% in 2003, GDP
growth picked up to 3.3% in 2004.

GDP (purchasing power parity):
$183 billion (2004 est.)

GDP - real growth rate:
3.3% (2004 est.)

GDP - per capita:
purchasing power parity - $40,000 (2004 est.)

GDP - composition by sector:
agriculture: 2.2%
industry: 36.3%
services: 61.6% (2004 est.)

Labor force:
2.38 million (2004 est.)

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

Unemployment rate:
4.3% (2004 est.)

Population below poverty line:
NA

Household income or consumption by percentage share:
lowest 10%: 4.1%
highest 10%: 21.8% (1995)

Distribution of family income - Gini index:
25.8 (1995)

Inflation rate (consumer prices):
1% (2004 est.)

Investment (gross fixed):
17.5% of GDP (2004 est.)

Budget:
revenues: $134 billion
expenditures: $116.8 billion, including capital expenditures of NA
(2004 est.)

Public debt:
33.1% of GDP (2004 est.)

Agriculture - products:
barley, wheat, potatoes; pork, beef, veal, milk; fish

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

Industrial production growth rate:
5.2% (2004 est.)

Electricity - production:
125.9 billion kWh (2002)

Electricity - production by source: