Norway’s economy depends on the world economic cycles, but in recent years it has maintained a remarkable stability. To date, this Scandinavian country is characterized by a fairly high standard of living of her local population. Norway is one of the few countries in the world that has most easily survived the huge financial crisis that hit the world almost 10 years ago. Today, the country demonstrates a positive development dynamics. Most of the stability of the Norwegian economy is associated with significant reserves of oil and natural gas and even gas condensate in the country. Experts also note that Norway has a lot of reserves of iron ore and coal, copper ore. In addition, nickel and titanium mining are in progress.
Special attention should be paid to the country’s oil and gas industry. Significant energy resources initially gave a tremendous impetus to the development of this small state. The increase in oil revenues at the end of the last century made it possible for Norway to merge two of its well-known companies – Norsk Hydro and Statoil. Today, the giant that was created as a result is quite a big competitor of the Russian Federation in the European market. After all, a significant part of the oil production is exported.
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