Norway?! By Victor Lakov Konstantin Kirov Milen Kostadinov
Dec 07, 2014
Norway?!
By Victor LakovKonstantin KirovMilen Kostadinov
General Information
• A Constitutional Monarchy(King Harald V)• Jens Stoltenberg (Prime Minister)
• Population: 4,985,870• Area: 385,252 km2
• The capital is Oslo( 2nd most expensivecity in the world, immigrants- 25% of the city’s
population) • Number One in the Human Development Index
• 7th Highest GDP per capita in the world• Currency: Norwegian Krone
• 10th most traded currency in the FOREX
King Harold V
Stoltenberg
• The Norwegian economy is an example of a mixed economy, a prosperous capitalist welfare state featuring a combination of free market activity and large state ownership in certain key sectors
• Norway’s state petroleum fund - 1995 (The Government Pension Fund) - fund into which the surplus wealth produced by Norwegian petroleum income is deposited.
• Amount: NOK 3,396 billion ($573 billion)• 1 per cent of global equity markets• With 1.78 per cent of European stocks, it is said to be
the largest stock owner in Europe.• Norway's emergence as a major oil and gas
producer in the mid-1970s
Economy Overview
• Norway is not a member of the EU
• Membership rejected twice(70s and 90s)
• 4th most important import partner for the EU
• Part of the Schengen agreement• Norway contributes to the EU
budget
Norway politics
• Norway is a founding member of the UN and NATO
• Member of: EEA (European Economic Area)-Access to EU single market
• EFTA (European Free Trade Association)-Norway, Liechtenstein, Iceland, Switzerland
• OECD (Organization for Economic Co-operation and Development)
Gross domestic product
GDP - composition by sector:agriculture: 2.7%industry: 38.3%
services: 59% (2011 est.)
Gross domestic productGDP - real growth rate:
• 1.7% (2011 est.)• country comparison to the world: 164
• 0.3% (2010 est.)• -1.7% (2009 est.)
GDP - per capita (PPP):• $53,300 (2011 est.)
• country comparison to the world: 7• $53,000 (2010 est.)• $53,500 (2009 est.)
• note: data are in 2011 US dollars
Gross domestic product
2011 2010 2009
-2.00%
-1.00%
0.00%
1.00%
2.00% 1.70%
0.30%
-1.70%
GDP Real Growth Rate
2011 2010 2009$52,600
$53,000
$53,400$53,30
0$53,00
0
$53,500
GDP Per Capita
Exports:• $159.8 billion (2011 est.)
• country comparison to the world: 31• $132.7 billion (2010 est.)
Exports - commodities:• petroleum and petroleum products, machinery and
equipment, metals, chemicals, ships, fish
Exports - partners:• UK 26.7%, Netherlands 12.1%, Germany 11.4%, Sweden
7%, France 6.6%, US 5% (2010)
Imports:• $92.63 billion (2011 est.)
• country comparison to the world: 37• $74.3 billion (2010 est.)
Imports - commodities:• machinery and equipment, chemicals, metals,
foodstuffs
Imports - partners:• Sweden 14.1%, Germany 12.4%, China 8.5%, Denmark
6.3%, UK 5.9%, US 5.4% (2010)
Foreign Policy
• Norway has a small and open economy, which is largely dependent on foreign trade. Foreign trade (export and import combined) constitutes more than half of Norway's GDP, making it one of the world's most open economies.
• Foreign trade is a critical economic factor. Exports bring in over 40% of the GDP.
• About 75 per cent of Norway's trade is with the EU.
• The EUs relations with third countries: -Mediterranean region -regional groupings in Asia (ASEAN, ASEM) -Latin America -Transatlantic Economic Partnership (TEP)• Norway was the world’s 31st largest
merchandise exporter, and the 36th largest importer, in 2010.
• Foreign trade amounts to approximately 37 per cent of Norway’s GDP
Foreign Trade by Goods
• Norway is the world’s largest producer of oil and natural gas per capita outside of the Middle East.
• Norway is also one of the world’s largest exporters of fish and fish products, which account for 5 per cent of export revenues.
• Machinery, ships, metals, chemicals, pulp and paper, etc. account for approximately 25 per cent of Norway’s total export revenues.
• Norway is the main source for the EU of primary aluminium. 60% of our total imports of alloys and 15% of unwrought metal originate in Norway
Trade relations between Norway and
Bulgaria
• Norwegian export to Bulgaria increased with 50% in 2011 reaching 11.7 mln.
• Bulgarian export to Norway increased with 56.1% amounting 33.4 mln. Euro.
• The turnover (for the above mentioned period) between the countries reached 45.1 mln. Euro
Bulgarian export to Norway, mln. Euro
Norwegian export to Bulgaria , mln. Euro
Trade balance, mln. Euro
2010 2011 Growth, % 2010
2011
Growth, % 2010
2011
21.4 33.4 56.1% 7.8 11.7 50% 13.721.8
Main commodity groups in the export to Norway for year 20111. Wrapping bags and sacks2. Yarns of worsted wool, unsuitable for retail3. Plastic transport or packing merchandises; plastic corks, covers and others4. Sunflower seeds5. Electricity engines and generators, except electrogenerating aggregates
Main commodity groups in the import from Norway for year 2011 1. Merchandises and clothes, used 2. Frozen fishes3. Audio or analogous carriers 4. Paper and cardboards 5. Machines and devices for operation with stones, earth, ore and other mineral materials 6. Fillet and other fish meat /fresh, chilled or frozen/ 7. Diagnostic and laboratory reactives 8. Electrical devices for wire telephony, videophones 9. Automobile parts10. Automobile and transport vehicles
Thank you for your attention!