Norway - Statistics & Facts

Published by H. Plecher, Apr 18, 2018
The Kingdom of Norway is located in Northern Europe, where it borders Sweden, Finland and Russia. In spite of its considerable large area, Norway has a population of only around 5.3 million inhabitants and is estimated to surpass the 5.5 million-mark by 2020. Among the reasons for this estimated increase is the positive development in overall life expectancy - Norway’s showing a remarkable 2-year increase - from 2005 to 2015. The highest number of urban inhabitants can be found in the country’s capital, Oslo, with approximately 660,000 Norwegians living there.

Although Norway is among the founding members of the NATO, the Nordic Council and the United Nations, it is not a member state of the European Union. Nevertheless, it is still associated with the Union through a membership in the European Economic Area (EEA), since Norway is among the EU’s most important export and import partners.

The Kingdom of Norway gained its independence from the union with Sweden in June 1905, but it was later that year, in October, when Sweden officially recognized the union’s dissolution. Norway now is a parliamentary constitutional monarchy that is divided into 19 administrative divisions. The state ranks high on the global peace index, making it one of the most peaceful countries in the world.

Norway boasts a stable market economy and an ever-increasing growth rate of about 1.02 percent as of 2016. It has one of the lowest unemployment rates in Europe; most of the EU member states struggle with a higher percentage. In 2016, Norway imported goods worth more than 70 billion U.S. dollars, and exported goods of roughly 89 billion U.S. dollars, leaving it with a sizeable trade surplus. The most important import partners are Germany and Sweden, and its main export partner is Great Britain.

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Norway

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Norway Infographic - Norway's Sovereign Wealth Fund Hits $1 Trillion

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