Business Directory Norway

Norway, is a Nordic country in Northwestern Europe whose territory comprises the western and northernmost portion of the Scandinavian Peninsula; the remote island of Jan Mayen and the archipelago of Svalbard are also part of the Kingdom of Norway. The sub-Antarctic Bouvet Island is a dependent territory and thus not considered part of the kingdom. Norway also lays claim to the Antarctic territories of Queen Maud Land and Peter I Island.

Norway has a total area of 385,207 square kilometers (148,729 sq mi) and a population of 5,312,300 (as of August 2018). The country shares a long eastern border with Sweden (1,619 km or 1,006 mi long). Norway is bordered by Finland and Russia to the north-east, and the Skagerrak strait to the south, with Denmark on the other side. Norway has an extensive coastline, facing the North Atlantic Ocean and the Barents Sea. The maritime influence also dominates Norway's climate with mild lowland temperatures on the sea coasts, whereas the interior, while colder, is also a lot milder than areas elsewhere in the world on such northerly latitudes. Even during polar night in the north, temperatures above freezing are commonplace on the coastline. The maritime influence brings high rainfall and snowfall to some areas of the country.

Norwegians enjoy the second-highest GDP per-capita among European countries (after Luxembourg), and the sixth-highest GDP (PPP) per-capita in the world. Today, Norway ranks as the second-wealthiest country in the world in monetary value, with the largest capital reserve per capita of any nation. According to the CIA World Factbook, Norway is a net external creditor of debt. Norway maintained first place in the world in the UNDP Human Development Index (HDI) for six consecutive years (2001–2006), and then reclaimed this position in 2009, through 2015. The standard of living in Norway is among the highest in the world. Foreign Policy magazine ranks Norway last in its Failed States Index for 2009, judging Norway to be the world's most well-functioning and stable country. The OECD ranks Norway fourth in the 2013 equalized Better Life Index and third in intergenerational earnings elasticity.

The Norwegian economy is an example of a mixed economy; a prosperous capitalist welfare state it features a combination of free market activity and large state ownership in certain key sectors, influenced by both liberal governments from the late 19th century and later by social democratic governments in the postwar era. Public health care in Norway is free (after an annual charge of around 2000 kroner for those over 16), and parents have 46 weeks paid parental leave. The state income derived from natural resources includes a significant contribution from petroleum production. Norway has an unemployment rate of 4.8%, with 68% of the population aged 15–74 employed. People in the labor force are either employed or looking for work. 9.5% of the population aged 18–66 receive a disability pension and 30% of the labor force are employed by the government, the highest in the OECD. The hourly productivity levels, as well as average hourly wages in Norway, are among the highest in the world.


Open Business Directory Norway

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