Norway Tenders


Capital Oslo
ISO 3166 Code NO
Population 5,156,450
Area, Sq KM 324,220
Currency Norwegian krone
Official Language Norwegian, Bokm?l, Nynorsk
GDP, Billion USD 5,12,580
GDP Growth Rate, % 1.8
Inflation, Avg CP, % Chng N/A
Interest Rates, % N/A
Unemployement Rate, % 3.5
Exchange Rate, 1 USD Equals 7.72
International dial code 47
Time Zone GMT+01:00
Internet TLD .no

Norway is officially known as the Kingdom of Norway which is a sovereign and unitary monarchy. The territory of this country comprises of the western portion of the Scandinavian Peninsula along with the Arctic Archipelago. Norway also shares a section of Antarctica which is known as Queen Maud Land. Until the year 1814, the Kingdom included Greenland, the Faroe Islands and Iceland. The total area covered by Norway is approximately of 385,252 square kilometers and it has a population of 5,109,059 people. The country also shares a long eastern border with Sweden. Norway shares its borders by Russia and Finland to the north-east along with the Skagerrak Strait on the south with Denmark on the other side. The country is known for its extensive coastline which faces the North Atlantic Ocean as well as the Barents Sea.Between the years 1661 and 1814, Norway was considered an absolute monarchy. Traditionally established in 872, Norway is one of the original states of Europe along with being one of the oldest still existing kingdoms worldwide. The administrative as well as political subdivisions of this country are on two levels. The country maintains close ties with the member of the European Union and the European Union itself along with the United States as well. Norway is a founding member of the NATO, United Nations, the Council of Europe along with the Antarctic Treaty and the Nordic Council. The nation is also a member of the European Economic Area, the OECD and the WTO. The country has managed to maintain a combination of market economy along with a Nordic welfare model which has a universal health care as well as a comprehensive social security system. Norway is known to be one of the world’s most developed democracies and states of justice in the world. This country is known for its extensive reserves of natural gas, petroleum, minerals, seafood, fresh water, hydropower and lumber. The petroleum industry of this country constitute for a quarter of the gross domestic product. Norway also has the fourth-highest per capita income in the entire world as per the International Monetary Fund and the World Bank. On a per-capita basis, Norway is the largest producer of natural gas and oil in the world too outside the Middle East. From the years 2001 to 2006 and then again from 2009 to 2014, the nation had the highest Human Development Index ranking in the world.

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