Norwegian Economics

Norway is a constitutional monarchy whose territory consists of the western part of the Scandinavian Peninsula and the arctic islands.   Norway has a total area of about 150,000 square miles and a steady population of 5 million. It is the least densely populated country in Europe.   Norway borders Sweden to the east, Finland to the North, and Russia also to the East.
The Norwegian economy is a prosperous capitalism consisting of a free market with government regulation and intervention.   Overall Norway has an ideal, successful economy which continues to grow. They have a relatively high GDP for their size. Norway also enjoys a low inflation rate, low unemployment, and a solid supply of natural resources such as oil, natural gas, and coal. However, 99% of their electricity is hydro power which is strange due to their large supply of resources..
The country is full of rich, natural resources like oil and petroleum products, minerals, forests, fish, etc. Norway is the world’s second largest exporter of gasoline. Gasoline and oil exports account for 30% of all of Norway’s revenue, and the country plays a strong part in the European economy because of this. Norway exports over 2.1 million barrels of oil a day, and only consumes an average 200,000 barrels per day. The country also exports about 100 billion cubic feet of natural gas each year, and 15 billion kilowatt hours of energy.   What’s unique about Norway, is they anticipate oil and petroleum production to slow, so to prepare for that they have saved over 500 billion dollars in state revenue as a kind of reserve.
With such a small population of only 5 million, not even the size of Los Angeles, Norway’s economy pretty much stays prosperous. Norway’s Gross domestic product, or GDP has continued to rise since 2004, except for a slight recession in 2008 before recover in 2009. Per capita GDP is at about 55,000, and there growth rate is between four to eight percent each year.   Composition by sector when calculating...