Diplomatic representation from the US: chief of mission : Ambassador Thomas A. LOFTUS embassy: Drammensveien 18, 0244 Oslo mailing address: PSC 69, Box 1000, APO AE 09707 telephone: [47] 22 44 85 50 FAX : [47] 22 44 33 63
Flag description: red with a blue cross outlined in white that extends to the edges of the flag; the vertical part of the cross is shifted to the hoist side in the style of the Dannebrog (Danish flag)
Economy
Economy - overview: Norway is a prosperous bastion of welfare capitalism. The economy consists of a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector (through large-scale state enterprises), and extensively subsidizes agriculture, fishing, and areas with sparse resources. Norway maintains an extensive welfare system that helps propel public sector expenditures to more than 50% of GDP and results in one of the highest average tax levels in the world (46%). A small country with a high dependence on international trade, Norway is basically an exporter of raw materials and semiprocessed goods, with an abundance of small- and medium-sized firms, and is ranked among the major shipping nations. The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil sector. Only Saudi Arabia exports more oil than Norway. Norway imports more than half its food needs. Economic growth, only 1.6% in 1993, has improved steadily over the past few years, resulting in a budget surplus in 1996. Oslo opted to stay out of the EU during a referendum in November 1994. Despite their high per capita income - outstripped among major nations only by the US - and their generous welfare benefits, the Norwegians worry about that time in the 21st century when the oil and gas run out.
GDP: purchasing power parity - $114.1 billion (1996 est.)
GDP - real growth rate: 4.8% (1996 est.)
GDP - per capita: purchasing power parity - $26,200 (1996 est.)
GDP - composition by sector: agriculture: 2.9% industry: 34.7% services : 62.4% (1991)
Inflation rate - consumer price index: 1.2% (1996 est.)
Labor force: total: 2.13 million by occupation: services 71%, industry 23%, agriculture, forestry, and fishing 6% (1993)