Diplomatic representation in the US:
chief of mission: Ambassador Wegger C. STROMMEN chancery: 2720 34th Street NW, Washington, DC 20008 telephone: [1] (202) 333-6000 FAX: [1] (202) 337-0870 consulate(s) general: Houston, Minneapolis, New York, San Francisco
Diplomatic representation from the US:
chief of mission: Ambassador Benson K. WHITNEY embassy: Henrik Ibsens gate 48, 0244 Oslo; note - the embassy will move to Huseby in the near future mailing address: PSC 69, Box 1000, APO AE 09707 telephone: [47] (22) 44 85 50 FAX: [47] (22) 44 33 63, 56 27 51
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
Norway
Economy - overview:
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring 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. The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil production and international oil prices, with oil and gas accounting for one-third of exports. Only Saudi Arabia and Russia export more oil than Norway. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget. The government has moved ahead with privatization. Although Norwegian oil production peaked in 2000, natural gas production is still rising. Norwegians realize that once their gas production peaks they will eventually face declining oil and gas revenues; accordingly, Norway has been saving its oil-and-gas-boosted budget surpluses in a Government Petroleum Fund, which is invested abroad and now is valued at more than $250 billion. After lackluster growth of less than 1% in 2002-03, GDP growth picked up to 3-5% in 2004-07, partly due to higher oil prices. Norway's economy remains buoyant. Domestic economic activity is, and will continue to be, the main driver of growth, supported by high consumer confidence and strong investment spending in the offshore oil and gas sector. Norway's record high budget surplus and upswing in the labor market in 2007 highlight the strength of its economic position going into 2008.
GDP (purchasing power parity):