Economy

The Norwegian economy is generally characterized as a mixed economy - a capitalist market economy with a clear component of state influence. As in the rest of Western Europe, the expansion of most industry in Norway has largely been governed by private property rights and the private sector. Nevertheless, some industrial activities are owned or run by the state. State ownership and the regulati... Read more

Norway is a highly developed, industrial country with an open, export-oriented economy. Listed as one of the richest countries in the world, it has also achieved top-rankings with regard to standard of living, life expectancy, overall health and housing standards. The high level of material wealth is partly due to an abundance of natural resources, and partly due to Norway’s inclusion in the... Read more

Norway’s economic policy is designed to stabilize and counteract unemployment and inflation, to stimulate growth and to influence the structure of industry and the distribution of income. Regions with little industry are subject to more lenient taxation than other areas, and credit institutions have been established to provide support to the regional industrial sector as well as agriculture,... Read more

The achievement of high employment has been a priority item on the political agenda of post-war Norway. During the 1970s, the development of the North Sea oil fields combined with an active labour market policy led to significantly lower unemployment in Norway than in other industrial countries. Since the 1980s, however, the globalization of the economy has tied Norway more closely to world... Read more