Lost your password?

Register company


Browse all registered companies
Browse all products companies want to sell
Partnerships
See latest active companies

Forum


Links to related and useful websites

Register your own JA-YE company!
Teachers' registration
Volunteer registration

SUBSCRIBE FOR EWB BRIEF:



Receive the newsletter that covers all the latest news and updates, every three weeks.

View newsletter archive





   Norway



Norway, officially the Kingdom of Norway, is a constitutional monarchy in Northern Europe that occupies the western portion of the Scandinavian Peninsula. The majority of the country shares a border to the east with Sweden; its northernmost region is bordered by Finland to the south and Russia to the east. The United Kingdom and the Faroe Islands lie to their west across the North Sea, and Denmark lies south of its southern tip across the Skagerrak Strait. Norway's extensive coastline, facing the North Atlantic Ocean and the Barents Sea, is home to its famous fjords. The capital city is Olso.

Since World War II Norway has experienced rapid economic growth, and is now amongst the wealthiest countries in the world. Norway is the world's fourth largest oil exporter and the petroleum industry accounts for around a quarter of GDP. Norway also has rich resources of gas fields, hydropower, fish, forests, and minerals. Norway was the second largest exporter of seafood (in value, after China) in 2006. Other main industries include food processing, shipbuilding, metals, chemicals, mining, fishing and pulp and paper products. Norway has a Scandinavian welfare model and the largest capital reserve per capita of any nation.

Norway was ranked highest of all countries in human development from 2001 to 2006, and shares first place with Iceland from 2007 to 2008. It was also rated the most peaceful country in the world in a 2007 survey by Global Peace Index. It is a founding member of NATO.

Norwegians enjoy the second highest GDP per-capita (after Luxembourg) and third highest GDP (PPP) per-capita in the world. Norway has maintained first place in the world in the UNDP Human Development Index (HDI) for six consecutive years (2001-2006). However, in 2007 Iceland very narrowly beat Norway as the #1 place according to the Human Development Index.

The Norwegian economy is an example of a mixed economy, featuring a combination of free market activity and large government ownership. The government has large ownership positions in key industrial sectors, such as the strategic petroleum sector (StatoilHydro), hydroelectric energy production (Statkraft), aluminum production (Norsk Hydro), the largest Norwegian bank (DnB NOR) and telecommunication provider (Telenor). The government controls 31.6% of publicly-listed companies. When non-listed companies are included the state has even higher share in ownership (mainly from direct oil license ownership). Referendums in 1972 and 1994 indicated that the Norwegian people wished to remain outside the European Union (EU). However, Norway, together with Iceland and Liechtenstein, participates in the European Union's single market via the European Economic Area (EEA) agreement. The EEA Treaty describes the procedures for implementing European Union rules in Norway and the other EFTA countries. This makes Norway a highly integrated member of most sectors of the EU internal market. However, some sectors, such as agriculture, oil and fish, are not wholly covered by the EEA Treaty. Norway has also acceded to the Schengen Agreement and several other intergovernmental agreements between the EU member states.

The country is richly endowed with natural resources including petroleum, hydropower, fish, forests, and minerals. Large reserves of petroleum and natural gas were discovered in the 1960s, which led to a continuing boom in the economy. Norway has obtained one of the highest standards of living in the world in part by having a large amount of natural resources compared to the size of the population. The income from natural resources includes a significant contribution from petroleum production and the substantial and well-managed income related to this sector. Norway also has a very low unemployment rate, currently below 2% (June 2007). The hourly productivity levels, as well as average hourly wages in Norway are among the highest in the world. The egalitarian values of the Norwegian society ensure that the wage difference between the lowest paid worker and the CEO of most companies is much smaller than in comparable western economies..

Cost of living is about 30% higher in Norway than in the United States and 25% higher than the United Kingdom. The standard of living in Norway is high, and oil exports lead to a conclusion that Norway will remain wealthy through the foreseeable future.



Number of EWB companies registered35
View companies
National EwB coordinatorTrine Haugaard
Emailtrine.haugaard [at] ue.no
Official languagesNorwegian
Population 4,805,437
GDP $259.049 billion
Per capita $102,524
CurrencyNorwegian krone (NOK)
Time zoneCET (UTC+1)
Internet TLD.no, .sj and .bv
Calling code+47