norway general information

19
Norway?! By Victor Lakov Konstantin Kirov Milen Kostadinov

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Norway, economics, politics, overview

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Page 1: Norway general information

Norway?!

By Victor LakovKonstantin KirovMilen Kostadinov

Page 2: Norway general information

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

Page 3: Norway general information

• 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

Page 4: Norway general information

• 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

Page 5: Norway general information

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)

Page 6: Norway general information

Gross domestic product

GDP - composition by sector:agriculture: 2.7%industry: 38.3%

services: 59% (2011 est.)

Page 7: Norway general information

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

Page 8: Norway general information

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

Page 9: Norway general information

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)

Page 10: Norway general information

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)

Page 11: Norway general information

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.

Page 12: Norway general information

• 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

Page 13: Norway general information

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

Page 14: Norway general information
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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

Page 17: Norway general information

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

Page 18: Norway general information

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

Page 19: Norway general information

Thank you for your attention!