Norway and it's Economy

Anastasia Yeremenko LE-81

2020
 1) General 8) WTO 9)
characteristics (country's Transnational
of the country export + import) corporations

7) Consumer 10) Fascinating

2) Economic
Price Index + facts about
characteristics
Inflation Norway

3) General 6)
Domestic Unemployment 11) Resources
Product + Employment

Plan
4) General 5) Population
National and Life
Product Expectancy
General characteristics of
the country
+ Country of northern Europe that occupies the
western half of the Scandinavian peninsula; 
+ Nearly half of the inhabitants of the country live in
the far south, in the region around Oslo, the capital;
+ About two-thirds of Norway is mountainous, and off
its much-indented coastline lie, carved by deep
glacial fjords, some 50,000 islands.
 + Indo-European people settled Norway’s
coast  establishing Oslo some 6,000 years
ago;

Oslo – the capital + It lies at the head of Oslo Fjord in the

southeastern part of the country. The original
site of Oslo was east of the Aker River;
+ As of 27 February 2020, the municipality of
Oslo had a population of 693,491.
Economic
characteristics
 Norway tops
2017 index of
inclusive
economies!

See page for more

https://www.weforum.org/agenda/2017/04/less
ons-from-norway-the-world-s-most-inclusive-ec
onomy/
Gross Domestic It represents the total value at constant prices of final goods and
services produced within a country during a specified time
Product (GDP) period, such as one year.
GDP in Norway is expected to reach 360.00 USD
Billion by the end of 2020, according to Trading
Economics global macro models and analysts
expectations. In the long-term, the Norway GDP is
projected to trend around 420.00 USD Billion in
2021 and 490.00 USD Billion in 2022, according to
our econometric models.
 + Norway has a quarterly GDP per capita, of $15,742, less
than the same period last year, when it was $17,158 .

GDP per capita + If we order the countries according to their GDP per capita,
Norway is very well positioned in terms of the standard of
living of its population, coming 4 th out of the 50 countries
whose quarterly GDP we publish.
Gross National Product (GNP)
The total value of goods and services
produced by a country in one year,
including profits made in foreign
countries.
GPN in Norway
decreased to 799964
NOK Million in the
second quarter of
2020 from 899181
NOK Million in the
first quarter of 2020.
 +GNP in Norway is expected to be 832459.00 NOK
Million by the end of this quarter, according to Trading

Forecast for GNP Economics global macro models and analysts

expectations. In the long-term, the Norway Gross
National Income is projected to trend around
915636.00 NOK Million in 2021 and 933948.00 NOK
Million in 2022, according to econometric models.
 Population and Life Expectancy
Total population is based on the de Life expectancy at birth indicates the
facto definition of population, which number of years a newborn infant
counts all residents regardless of legal would live if prevailing patterns of
status or citizenship. The values mortality at the time of its birth were to
shown are midyear estimates. stay the same throughout its life.
+ Norway's seasonally adjusted unemployment rate increased to
5.2 percent in the three months to August 2020, but below
market expectations of 5.3 percent. The number of unemployed
rose by 32,000 from the three months to April to 148,000 while
the number of employed declined by 30,000 to 2.688 million.

Unemployment
Youth Unemployment Rate in Norway
increased to 12.80 percent in June from 11.80
percent in May of 2020.
 Employment

Employment Rate in Norway decreased to 66.70 percent in the

second quarter of 2020 from 67.80 percent in the first quarter of
2020.
 +The Consumer Price
Index (CPI) is a measure
that examines the
weighted average of prices
of a basket of consumer
goods and services, such
as transportation, food,
Consumer and medical care. 
+It is calculated by taking
Price Index price changes for each
item in the predetermined
(CPI) basket of goods and
averaging them. 
+Changes in the CPI are
used to assess price
changes associated with
the cost of living.
Consumer Price Index CPI in
Norway decreased to 112.50 points
in August from 112.90 points in July
of 2020.
I + Norway's annual inflation rate increased to 1.7 percent in August 2020, the most since January, from 1.3 percent
in the previous month and matching market expectations.

n + The CPI adjusted for tax changes and excluding energy products increased 3.7 percent in August, the most since
July 2016. On a monthly basis, consumer prices fell 0.4 percent, the first monthly decline since February, while

f the core index were down 0.4 percent.

l
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 Norway and the WTO
Export
Exports of goods and services represent
the value of all goods and other market
services provided to the rest of the world.
They include the value of merchandise,
freight, insurance, transport, travel,
royalties, license fees, and other services,
such as communication, construction,
financial, information, business, personal,
and government services. They exclude
compensation of employees and
investment income (formerly called factor
services) and transfer payments.
Import
Imports of goods and services represent the
value of all goods and other market services
received from the rest of the world. They include
the value of merchandise, freight, insurance,
transport, travel, royalties, license fees, and
other services, such as communication,
construction, financial, information, business,
personal, and government services. They
exclude compensation of employees and
investment income (formerly called factor
services) and transfer payments.
+ Exports from Norway tumbled 13 percent from a year earlier to NOK 57 billion in August 2020,
due to lower sales of mineral fuels, lubricants & related materials (-20.1%), chemicals and
related products n.e.s (-9.3%), manufactured goods classified chiefly by material (-4.5%), food
and live animals (-13.1%), chemicals and related products n.e.s (-9.3%), manufactured goods
Export
classified chiefly by material (-4.5%), miscellaneous manufactured articles (-13.8%).
 + Imports to Norway were unchanged from a year earlier to NOK 59.9
billion in August 2020, as purchases increased for food and live
animals (4.4%), machinery and transport equipment (6.4%), and
Import miscellaneous manufactured articles (4.1%), but were down for
chemicals and related products n.e.s (-4.7%), crude materials,
inedible, except fuels (-9.6%) and mineral fuels, lubricants and
related materials (-46.2%).
Transnational corporations
+ Equinor is an energy company with
more than 21000 employees
developing oil, gas, wind and solar
energy in more than 30 countries.
General
characteristics of the
company by
"Fortune" 
https://fortune.com/c
ompany/statoil/
Fascinating Facts
About Norway
 Norway isn't
powered by oil!
Income and wealth of all
residents is on public
record.
There are two versions of the
Norwegian language
The Nobel Peace + That's due to the wishes of Alfred Nobel, the
Swedish chemist who bequeathed his wealth
Prize is awarded in to create the awards upon his death. No-
one's quite sure why he chose Norway for

Oslo  the Peace Prize. 

 The world's most remote island is a
Norwegian territory

Bouvet Island in the South Atlantic Ocean

 https://data.worldban
k.org/

https://www.lifeinnor https://www.undp.org
way.net/ /content/undp/en/ho
me/

https://www.forbes.c https://tradingecono
om/#4107b5762254 mics.com/

Resources used:
https://fortune.com/ http://unctadstat.unct
ad.org/EN/

https://www.imf.org/e https://www.weforum
xternal/index.htm .org/events/sustainab
le-development-impa
ct-summit-2020
https://www.wto.org/
Thank you for
your attention!