AALSON
chancery: 2720 34th Street NW, Washington, DC 20008
consulate(s) general: Houston, Miami, Minneapolis, New York, and San
Francisco

Diplomatic representation from the US:
chief of mission: Ambassador David B. HERMELIN
embassy: Drammensveien 18, 0244 Oslo
mailing address: PSC 69, Box 1000, APO AE 09707

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. A major shipping nation, with a high dependence on
international trade, Norway is basically an exporter of raw
materials and semiprocessed goods. 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. Only Saudi Arabia exports more oil than
Norway. Norway imports more than half its food needs. Oslo opted to
stay out of the EU during a referendum in November 1994. Economic
growth in 1999 should drop to about 1%. Despite their high per
capita income and generous welfare benefits, Norwegians worry about
that time in the 21st century when the oil and gas run out.

GDP: purchasing power parity--$109 billion (1998 est.)

GDP--real growth rate: 2.4% (1998 est.)

GDP--per capita: purchasing power parity?$24,700 (1998 est.)

GDP--composition by sector:
agriculture: 2%
industry: 30%
services: 68% (1997)

Population below poverty line: NA%

Household income or consumption by percentage share:
lowest 10%: 4.1%
highest 10%: 21.2% (1991)

Inflation rate (consumer prices): 2.3% (1998 est.)

Labor force: 2.3 million (1998 est.)

Labor force--by occupation: services 71%, industry 23%,
agriculture, forestry, and fishing 6% (1993)

Unemployment rate: 2.6% (yearend 1997)

Budget: