Part 563

Diplomatic representation in US: chief of mission: Ambassador Kjeld VIBE chancery: 2720 34th Street NW, Washington, DC 20008 telephone: (202) 333-6000 FAX: (202) 337-0870 consulate(s) general: Houston, Los Angeles, Minneapolis, New York, and San Francisco consulate(s): Miami

US diplomatic representation: chief of mission: Ambassador Thomas A. LOFTUS embassy: Drammensveien 18, 0244 Oslo mailing address: PSC 69, Box 1000, APO AE 09707 telephone: 22 44 85 50 FAX: 22 44 33 63

Flag: 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 -------

Economic overview: Norway has a mixed economy involving 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 also 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 burdens in the world (46%). A small country with a high dependence on international trade, Norway is basically an exporter of raw materials and semiprocessed goods, with an abundance of small- and medium-sized firms, and is ranked among the major shipping nations. The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil sector. Norway imports more than half its food needs. Economic growth, only 1.6% in 1993, moved up to 5.5% in 1994 and remained strong in 1995. Oslo opted to stay out of the EU during a referendum in November 1994.

GDP: purchasing power parity - $106.2 billion (1995 est.)

GDP real growth rate: 4.5% (1995 est.)

GDP per capita: $24,500 (1995 est.)

GDP composition by sector: agriculture: 2.9% industry: 34.7% services: 62.4% (1991)

Inflation rate (consumer prices): 2.5% (1995 est.)

Labor force: 2.13 million by occupation: services 71%, industry 23%, agriculture, forestry, and fishing 6% (1993)

Unemployment rate: 8% (including people in job-training programs; November 1995)

Budget: revenues: $48.6 billion expenditures: $53 billion, including capital expenditures of $NA (1994 est.)

Industries: petroleum and gas, food processing, shipbuilding, pulp and paper products, metals, chemicals, timber, mining, textiles, fishing

Industrial production growth rate: 7.4% (1994)

Electricity: capacity: 27,280,000 kW production: 118 billion kWh consumption per capita: 23,735 kWh (1993)

Agriculture: oats, other grains; beef, milk; livestock output exceeds value of crops; among world's top 10 fishing nations; fish catch of 1.76 million metric tons in 1989

Illicit drugs: transshipment point for drugs shipped via the CIS and Baltic states for the European market

Exports: $34.7 billion (f.o.b., 1994) commodities: petroleum and petroleum products 43%, metals and products 11%, foodstuffs (mostly fish) 9%, chemicals and raw materials 25%, natural gas 6.0%, ships 5.4% partners: EU 77.8% (UK 20.8%, Germany 12.4%, France 8.12%), Sweden 9.4%, US 6.7%, Japan 1.9% (1994)

Imports: $27.3 billion (c.i.f., 1994) commodities: machinery and equipment and manufactured consumer goods 54%, chemicals and other industrial inputs 39%, foodstuffs 6% partners: EU 68.9% (Germany 13.9%, UK 10.4%, Denmark 7.4%), Sweden 15%, US 7.4%, Japan 6.0% (1994)

External debt: $NA

Economic aid: donor: ODA, $1.014 billion (1993)

Currency: 1 Norwegian krone (NKr) = 100 oere

Exchange rates: Norwegian kroner (NKr) per US$1 - 6.4160 (January 1996), 6.3352 (1995), 7.0576 (1994), 7.0941 (1993), 6.2145 (1992), 6.4829 (1991)

Fiscal year: calendar year

Transportation --------------

Railways: total: 4,027 km standard gauge: 4,027 km 1.435-m gauge (2422 km electrified; 96 km double track) (1995)

Highways: total: 88,922 km paved: 61,356 km (including 75 km of expressways) unpaved: 27,566 km (1990 est.)