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    Norway Economy - 1989
    https://theodora.com/wfb1989/norway/norway_economy.html
    SOURCE: 1989 CIA WORLD FACTBOOK

      Overview: Norway has experienced rapid economic growth over the past 20 years, particularly in the mining and manufacturing sectors. It has one of the highest standards of living in the world with a per capita GDP of nearly $20,000 in 1987. Since 1975 exploitation of large crude oil and natural gas reserves has helped to give Norway an average annual growth rate of 3.7%, the third-largest among OECD countries. Growth has declined since mid-1986, however, because of the sharp drop in world oil prices and a slowdown in consumer spending. In 1987 the real GDP growth rate fell to 1.3% compared with the 4.4% rate of 1986. During 1987 inflation rose, averaging 8.7%, although unemployment remained low at about 2% of the labor force.

      GDP: $82.6 billion, per capita $19,768; real growth rate 1.3% (1987)

      Inflation rate (consumer prices): 8.7% (1987)

      Unemployment rate: 2.1% (1987)

      Budget: revenues $33.2 billion; expenditures $30.4 billion, including capital expenditures of NA (1986)

      Exports: $21.5 billion (f.o.b., 1987); @m5commodities--petroleum and petroleum products 28%, natural gas 12%, ships 7%, fish 6%, aluminum 6%, pulp and paper; @m5partners--UK 28%, FRG 20%, less developed countries 14%, Sweden 10%, Netherlands 6%, US 5%, Denmark 4% (1986)

      Imports: $22.6 billion (c.i.f., 1987); @m5commodities--machinery, fuels and lubricants, transportation equipment, chemicals, foodstuffs, clothing, ships; @m5partners--Sweden 18%, FRG 17%, UK 9%, less developed countries 8%, US 7%, Japan 7%, Denmark 7% (1986)

      External debt: $13.4 billion (December 1987)

      Industrial production: growth rate 7.1% (1987)

      Electricity: 26,187,000 kW capacity; 118,141 million kWh produced, 28,190 kWh per capita (1988)

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

      Agriculture: animal husbandry predominates, fish farming (salmon); main crops--feed grains, potatoes, fruits, vegetables; 40% self-sufficient; food shortages--food grains, sugar

      Aid: donor--ODA and OOF commitments (1970-86), $3.2 billion

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

      Exchange rates: Norwegian kroner (NKr) per US$1--6.6628 (January 1989), 6.5170 (1988), 6.7375 (1987), 7.3947 (1986), 8.5972 (1985)

      Fiscal year: calendar year

      NOTE: The information regarding Norway on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Norway Economy 1989 information contained here. All suggestions for corrections of any errors about Norway Economy 1989 should be addressed to the CIA.

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    https://theodora.com/wfb1989/norway/norway_economy.html

    Revised 15-Apr-03
    Copyright © 2003 Photius Coutsoukis (all rights reserved)


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