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Norway is a North European kingdom. It is a developed country and has a large sum of natural resources. The economic condition of Norway is well. Its population is not so large. Oslo is its capital. The area of Norway is 3,23,895 square kilometer. Its total population is 43,00,000. Region North Europe Population Total population is 43,00,000 Economy GDP 413500000000 in 2011 GDP real growth is 9.22 in 2011 Government Republic country
GDP (purchasing power parity): $276.4 billion (2010 est.) $272.3 billion (2009 est.) $276.2 billion (2008 est.)
Real growth rate of GDP Year 2009 2010 2011 GDP - real growth rate 2.60% -1.40% 1.50% Rank 142 138 164 Percent Change -29.73%` -153.85 % -207.14 %
Interest Rate
The interest rate term structure is the relation between the interest rate and the time to maturity of the debt for a given borrower in a given currency. The benchmark interest rate in Norway was last reported at 5 percent. In Norway the interest rates decisions are taken by its central bank. Norways average interest rate was 5.03 percent reaching an historical high of 5.75 percent in August of 2010 and a record low of 3.60 percent in January of 2009. This page includes:
Indicator
Reference
Actual
Previous
Nest Release
Impact
Interest Rate
March/2011
5.03
5.00
****
Year
Stock of direct foreign investment - abroad 2008 126100000000 2009 160100000000 2010 206000000000 2011 226600000000
Rank 19 19 18 18
Date of Information 2007 est. 31 December 2008 est. 31 December 2009 est. 31 December 2010 est.
29
26 30
Unemployment Rate
2.60 (2009) 3.20 (2010) 3.60 (2011)
Literacy Rate
Literacy Rate
78.33%
According to the CIA World Fact book, the literacy rate in Norway, overall, is 78.33%. This is broken down into a literacy rate for males of 89.56% and for females, 65%.
Main Products
SL. No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Product
Wheat Baby & children products Barley Electronics Potatoes Natural Gas Fashion Accessories Beef Electronic Components Oil Machinery & Industrial Supplies Solar & Energy Saving Products Veal Milk Pork Fish
The condition of export business of recent years in Norway is given below: Year 2009 2010 2011 Exports
$168,800,000,000 $122,000,000,000 $137,000,000,000
Rank 28 29 30
This figure is calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms. The most exported item of Norway is oil and the recent condition of this exported item is: Year 2009 2010 2011 Oil - exports $ 2,310,000 $ 2,061,000 $ 2,150,000 Rank 7 8 8 Percent Change
-14.89 % -10.78 % 4.32 %
Imports - partners:
Sweden 13.86%, Germany 12.89%, China 7.8%, Denmark 6.78%, US 6.16%, UK 6.01% (2009)
Imports:
$74.02 billion (2010 est.) $66.68 billion (2009 est.)
Rank 38 35 36
Percent Change
Date of Information 11.33 % -22.46 % 11.01 % 2008 est. 2009 est. 2010 est.
Industrialization
Industrialization is the process of social and economic change that transforms a human group from an agrarian society into an industrial one. It is a part of a wider modernization process, where social change and economic development are closely related with technological innovation, particularly with the development of large-scale energy and metallurgy production. It is the extensive organization of an economy for the purpose of manufacturing.
Industrial production growth rate: 4.8%
Percent Change
-300.00 % 1350.00 % -110.34 %
-2.90% .30%