Svalbard Economy - 1989
SOURCE: 1989 CIA WORLD FACTBOOK
Overview: Coal mining is the major economic activity on Svalbard. By treaty (9 February 1920), the nationals of the treaty powers have equal rights to exploit mineral deposits, subject to Norwegian regulation. Although US, UK, Dutch, and Swedish coal companies have mined in the past, the only companies still mining are Norwegian and Soviet. Each company mines about half a million tons of coal annually. The settlements on Svalbard are essentially company towns. The Norwegian state-owned coal company employs nearly 60% of the Norwegian population on the island, runs many of the local services, and provides most of the local infrastructure. There is also some trapping of seal, polar bear, fox, and walrus.
Electricity: 21,000 kW capacity; 45 million kWh produced, 11,420 kWh per capita (1988)
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)
NOTE: The information regarding Svalbard 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 Svalbard Economy 1989 information contained here. All suggestions for corrections of any errors about Svalbard Economy 1989 should be addressed to the CIA.