=============== A. COUNTRY DATA =============== 1. PROFILE ---------- - Population: The total population of Norway was about 4.3 million in mid-1993, with some 30 percent living in rural districts and 70 percent in densely populated areas. - Population Growth: The 1993 population growth rate was 0.54 percent. In the 1983-93 decade, the annual population growth rate averaged 0.45 percent. - Religions: About 88 percent of the population belong to the Evangelic Lutheran Church, which is the state church of Norway. Registered religious communities outside the church of Norway have a total membership of nearly 200,000. - Government System: The Kingdom of Norway is a constitutional hereditary monarchy, based on the principle of division of powers between a legislative, an executive and a judiciary branch of government. The executive power is exercised by the King in a council of state comprising the King, the prime minister and other government ministers. Legislative powers are vested in the parliament (Storting), which has 157 members elected through general elections on the basis of proportional representation within geographical areas. The electoral period is four years, and the parliament cannot be dissolved during that period. The parliament is elected as one chamber but 39 members are selected to constitute the "Lagting," while the remaining members constitute the "Odelsting." All bills of law are debated, first by the "Odelsting" and then by the "Lagting." Thereafter, they are sent to the King for royal assent in council. All other decisions are made by the united parliament. The county is divided into 19 counties, which in turn are divided into a large number of municipalities, the latter granted local self- government. - Languages: The Norwegian language is closely related to the other Scandinavian languages, and to a lesser degree to English, Dutch and German. Most Norwegians have a good command of English. There are two official languages, "bokmal" and "nynorsk," with equal status in schools and official use. The Norwegian alphabet contains 29 letters with three letters not found in the English alphabet. Norway's small indigenous Sami population speaks Samik as well as Norwegian. - Work Week: Normal Norwegian working time is 37.5 hours per week. The Workers' Protection Act stipulates the maximum working hours: 9 hours per day; 40 hours per week. 2. DOMESTIC ECONOMY -------------------- Category 1993 1994 1995 -------- ---- ---- ---- - Total GDP (USD Mill) 103,467 101,506 106,540 - Real GDP Growth Rate (Pct) 2.3 4.0 2.6 - GDP Per Capita (USD) 23,951 23,334 24,273 - Govt. Spending/GDP (Pct) 50.3 49.4 49.4 - C. Price Inflation (Pct) 2.3 1.3 2.0 - Surv. Unempl. Rate (Pct) 6.0 5.5 5.3 - For. Exch. Res. (USD Mill) 20,836 21,100 23,500 - Avg. Exch. Rate (NOK/USD) 7.09 7.50 7.50 - Net For. Debt(a)(USD Mill) 8,180 5,467 4,500 - Debt-Serv. Ratio (b) (Pct) 29.1 22.0 20.0 - U.S. Econ./Mil. Asst. NA NA NA Note: (a) Foreign Liabilities less foreign assets. (b) Gross debt servicing (of for. liab). Sources: Norw. Central Bureau of Statistics; Ministry of Finance; Embassy projections 3. FOREIGN TRADE ---------------- Category 1993 1994 1995 -------- ---- ---- ---- - Tot. Norw. Exp. (USD Mill) 32,098 31,700 33,362 - Tot. Norw. Imp. (USD Mill) 24,847 25,267 26,400 - Exports to U.S. (USD Mill)(a) 1,938 2,000 2,150 - Imports fm U.S. (USD Mill)(a) 1,212 1,250 1,350 - U.S. Imp./Tot. Imp. (Pct) 4.9 4.0 5.1 Imports Of Manufactured Goods: - Tot. From World (USD Mill) 20,069 20,400 21,300 - From U.S. (USD Mill)(b) 1,761 1,816 1,917 - U.S. Share (Pct)(b) 8.8 8.9 9.0 - Bal. with U.S. (USD Mill)(b) (924) (950) (980) - Proj. Avg. Annual Rate From World Thru 1996: 3.0 Pct. - Proj. Avg. Annual Rate From U.S. Thru 1996 : 4.3 Pct. Imports of Agricultural Goods: - Tot. From World (USD Mill) 1,748 - From the U.S. (USD Mill)(b) 121 - U.S. Share (Pct) 6.9 - Bal. With U.S. (USD Mill) (89) Trade Balance With Three Leading Partners in 1993: - UK (USD Mill): 5,619 - Germany (USD Mill): 798 - Sweden (USD Mill): (628) Note: (a) U.S. Department of commerce statistics. (b) Norwegian statistics. Sources: Norwegian Central Bureau of Statistics; Ministry of Finance; Embassy projections 4. INVESTMENT -------------- The following data were provided by the Bank of Norway. Note also that the NOK/USD exchange rates were as follows for the period in review: 1988 1989 1990 1991 1992 ---- ---- ---- ---- ---- End of Period 6.51 6.70 5.86 6.68 7.42 Period Average 6.52 6.90 6.26 6.48 6.21 Table I: FDI Position in Norway By Country (NOK Bill) -------------------------------------------------------- ------------ ---- ---- ---- ---- ---- Country/Area 1988 1989 1990 1991 1992 ------------ ---- ---- ---- ---- ---- Total FDI 56.9 64.3 73.3 94.8 93.6 --------- ---- ---- ---- ---- ---- Of Which From: U.S. 30.7 32.9 33.4 24.4 23.4 Sweden 7.7 10.0 12.5 19.5 17.1 France 6.8 5.2 7.2 10.9 7.7 Netherlands 2.9 3.5 3.6 5.0 6.1 Switzerland 2.7 2.7 4.3 9.2 11.7 UK 1.7 0.2 (0.3) 5.1 3.9 Germany 1.5 3.0 3.3 4.2 3.7 Denmark 1.4 2.0 1.6 2.3 2.9 Other Countries 1.5 4.8 7.7 14.2 17.1 All EU 15.1 14.6 15.9 29.8 26.1 ----------------- --- ---- ---- ---- ---- FDI/GDP (Percent) 9.8 10.3 11.1 13.8 13.3 ----------------- --- ---- ---- ---- ---- Table II: FDI Position In Norway By Industry (NOK Bill) ------------------------------------------------------ ------ ---- ---- ---- ---- ---- Sector 1988 1989 1990 1991 1992 ------ ---- ---- ---- ---- ---- Total FDI 56.9 64.3 73.3 94.8 93.6 --------- ---- ---- ---- ---- ---- Of Which In: Petroleum & Mining 26.9 30.4 35.6 36.1 30.6 Manufacturing 6.9 7.2 7.7 9.9 11.0 Bldg. & Construction 1.1 1.4 1.1 2.5 1.3 Dom. Trade & Hotels 9.3 10.4 13.0 21.0 23.4 Transp. & Commun. 0.7 1.0 0.7 1.8 2.2 Financial, Business Services & Property 11.7 13.8 15.1 22.0 23.3 Other Industry 0.3 0.1 0.1 1.5 1.8 Table III: Norw. Inv. Pos. Abroad By Country (NOK Bill) ------------------------------------------------------- ------------ ---- ---- ---- ---- ---- Country/Area 1988 1989 1990 1991 1992 ------------ ---- ---- ---- ---- ---- Total Inv. Abroad 26.1 33.7 41.1 46.4 NA ----------------- ---- ---- ---- ---- ---- Of Which In: U.S. 2.7 4.0 6.2 7.1 NA Sweden 4.5 5.2 5.9 6.0 NA Denmark 2.7 5.1 7.5 8.3 NA UK 4.8 6.2 7.3 8.1 NA Netherlands 3.9 4.7 5.3 5.9 NA Germany 1.1 1.2 1.0 1.4 NA Other Countries 6.4 7.3 7.9 9.6 NA All EU 15.3 19.9 25.2 27.5 NA ------------------ --- ---- ---- ---- ---- Tot./GDP (Percent) 4.5 5.4 6.2 6.8 NA ------------------ --- ---- ---- ---- ---- Table IV: Norw. Inv. Pos. Abroad By Industry (NOK Bill) ------------------------------------------------------- ------ ---- ---- ---- ---- ---- Sector 1988 1989 1990 1991 1992 ------ ---- ---- ---- ---- ---- Total FDI 26.1 33.7 41.1 46.4 NA --------- ---- ---- ---- ---- ---- Of Which In: Petroleum & Mining 4.3 4.8 5.8 6.3 NA Manufacturing 11.9 15.8 19.6 21.1 NA Bldg. & Construction 0.4 0.3 0.6 0.5 NA Dom. Trade & Hotels 0.8 0.9 2.8 4.9 NA Transp. & Commun. 2.8 3.5 4.3 5.8 NA Financial, Business Services & Property 5.3 7.9 6.0 6.0 NA Other Industry 0.6 0.5 2.0 1.8 NA Table V: Net FDI Flows To Norway (NOK Mill) ------------------------------------------- -------- ---- ---- ---- ---- ---- ---- Category 1988 1989 1990 1991 1992 1993 -------- ---- ---- ---- ---- ---- ---- Total 1,738 10,289 5,828 (1,533) 4,479 14,602 ----- ----- ------ ----- ----- ----- ------ Of Which From: U.S. (964) 269 (2,893) (871) 6,399 14,013 Sweden 994 6,503 2,344 3,356 121 (633) EU 2,350 2,576 2,532 (6,853)(2,150) 1,925 Other (642) 941 3,845 2,835 109 (703) --------------- --- --- --- --- --- --- Tot./GDP (Pct.) 0.3 1.7 0.9 (0.2) 0.6 2.0 --------------- --- --- --- --- --- --- Table VI: Norw. Net FDI Flows Abroad (NOK Mill) ----------------------------------------------- -------- ---- ---- ---- ---- ---- ---- Category 1988 1989 1990 1991 1992 1993 -------- ---- ---- ---- ---- ---- ---- Total 5,780 9,316 9,124 11,723 2,659 6,270 ----- ----- ----- ----- ------ ----- ----- Of Which To: U.S. 1,662 661 2,354 1,784 148 683 Sweden (212) 660 887 5,065 (960) 1,380 EU 978 6,571 5,135 4,197 2,732 2,695 Other 3,352 1,424 748 677 739 1,512 --------------- --- --- --- --- --- --- Tot./GDP (Pct.) 1.0 1.5 1.4 1.7 0.4 0.9 --------------- --- --- --- --- --- ---