he edges of
the flag; the vertical part of the cross is shifted to the hoist side in the
style of the Dannebrog (Danish flag)

- Economy
Overview: Norway is a prosperous capitalist nation with the resources
to finance extensive welfare measures. Since 1975 exploitation of large
crude oil and natural gas reserves has helped achieve an average annual
growth of roughly 4%, the third-highest among OECD countries. Growth
slackened in 1987-88 because of the sharp drop in world oil prices and a
slowdown in consumer spending, but picked up again in 1989. Future
economic issues involve the aging of the population, the increased
economic integration of Europe, and the balance between private and
public influence in economic decisions.

GDP: $75.8 billion, per capita $17,900; real growth rate 5.7% (1989 est.)

Inflation rate (consumer prices): 4.5% (1989)

Unemployment rate: 3.9% (1989 est., excluding people in
job-training programs)

Budget: revenues $40.6 billion; expenditures $41.3 billion,
including capital expenditures of $NA (1989)

Exports: $22.2 billion (f.o.b., 1989);
commodities--petroleum and petroleum products 25%, natural gas
11%, fish 7%, aluminum 6%, ships 3.5%, pulp and paper;
partners--UK 26%, EFTA 16.3%, less developed countries 14%,
Sweden 12%, FRG 12%, US 6%, Denmark 5% (1988)

Imports: $18.7 billion (c.i.f., 1989); commodities--machinery,
fuels and lubricants, transportation equipment, chemicals, foodstuffs, clothing,
ships; partners--Sweden 18%, less developed countries 18%,
FRG 14%, Denmark 8%, UK 7%, US 7%, Japan 5% (1988)

External debt: $18.3 billion (December 1989)

Industrial production: growth rate 15.8% (1989)

Electricity: 26,735,000 kW capacity; 121,685 million kWh produced,
28,950 kWh per capita (1989)

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

Agriculture: accounts for 3.1% of GNP and 6.5% of labor force;
among world's top 10 fishing nations; livestock output exceeds value
of crops; over half of food needs imported; fish catch of 1.9 million
metric tons in 1987

Aid: donor--ODA and OOF commitments (1970-87), $3.7 billion

Currency: Norwegian krone (plural--kroner);
1 Norwegian krone (NKr) = 100 ore

Exchange rates: Norwegian kroner (NKr) per US$1--6.5405 (January 1990),
6.9045 (1989), 6.5170 (1988), 6.7375 (1987), 7.3947 (1986), 8.5972 (1985)

Fiscal year: calendar year

- Com