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Country facts
| Capital city: |
Oslo |
| Surface area: |
324,000 sq km |
| Population: |
4.7 million |
| Official language(s): |
Norwegian (Bokmål and Nynorsk) |
| Head of State: |
HM King Harald V/HRH the Crown Prince Regent |
| Head of Government: |
Prime Minister Mr Jens Stoltenberg |
| Australian exports to Norway: |
A$200 million |
| Australian imports from Norway: |
A$351 million |
| Norway's principal export destinations: |
UK, Germany, Netherlands |
| Norway's principal import sources: |
Sweden, Germany, UK | (Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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Norway's economy is today characterised by substantial petroleum revenues, sharp growth in government expenditure, a tight labour market and high cost inflation. The mainland economy features some aspects that are associated with a boom period, although growth is low. After several years of mainland GDP growth in the order of three to four per cent, activity is now increasing by less than two per cent a year. The economy is operating near capacity limits, and wage and price inflation is higher than among Norway's trading partners..
Key economic indicators and statistics for 2008:
- GDP – US$481.1 billion
- GDP per capita – US$102,525
- Real GDP growth – 2.5 per cent
- Inflation – 1.4 per cent
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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The government is a Constitutional monarchy. Under the Constitution of 1814 the King's council – the Council of State – is Norway's executive power. The members of the Council of State are normally referred to as the Government. The Storting (Norway's parliament) is the legislative and budgetary power, while the Supreme Court and the courts make up the judiciary power. |
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Trade relations and statistics
The main priorities in Norwegian foreign policy are strengthening relations with the European Union (EU) and maintaining good relations with Russia. Norway has also taken on the role of international good citizen, actively mediating in the Middle East peace process, participating in United Nations peacekeeping operations, and providing a high level of development assistance. In referenda held in 1972 and 1994, Norway rejected joining the EU. Successive governments have, however, endeavoured to establish the closest links possible with the EU.
Australia and Norway enjoy friendly bilateral relations and share similar views on a wide range of international issues, including the environment, disarmament and human rights.
Major Australian exports to Norway (2007-08):
- Nickel ores and concentrates – A$83 million
- Inorganic chemical elements – A$18 million
- Alcoholic beverages – A$11 million
- Perfumery and cosmetics (including soap) – A$7 million
Major Australian imports from Norway (2007-08):
- Pumps for liquids and parts – A$38 million
- Telecom equipment and parts – A$30 million
- Ships and boats (including hovercraft) – A$27 million
- Specialised machinery and parts – A$26 million
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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