How Powerful Is Norway?
at nearly a hundred fifty thousand square miles or a bit larger than the US state of Montana Norway is the second biggest scandinavian country but with a population of about five million the country has the lowest population density in all of continental Europe.
those who do live in Norway tend to be fairly well off the country has the third highest per capita gdp in europe and the fourth highest in the world.
Norway being the largest per capita producer of oil outside the Middle East accounting for roughly a quarter of the country's nearly 400 billion dollar gdp.
while the global slump and gas prices has taken a huge toll on other oil-dependent economies like Brazil and Venezuela Norway has been less affected this is because over the years the country has stored much of its public money in its sovereign wealth fund which is like an investment account for countries and norway's is reportedly the largest in the world.
Norway's economy also benefits from the country's unique arrangement with the EU the so-called Norwegian model means that although norway is not an official member.
it has full access to the blocks internal market and it can trade most goods with member states duty free.
it's not limited by the EU strict internal trade policy and this has the freedom to negotiate free trade agreements with countries outside the organization.
when it comes to Norway's defense existing outside the EU does have certain disadvantages .
Norway has a little say in EU policies regarding regional security which is problematic when dealing with Russia over their shared border still Norway does benefit from its membership in NATO which is crucial as the country is relatively weak on its own its military encompasses just seventy thousand personnel and a seven billion dollar defense budget.
Norway is doing well but like other scandinavian countries.
Norway is struggling to control an influx of migrants integrate ethnic minorities and navigate an aging population.
those who do live in Norway tend to be fairly well off the country has the third highest per capita gdp in europe and the fourth highest in the world.
Norway being the largest per capita producer of oil outside the Middle East accounting for roughly a quarter of the country's nearly 400 billion dollar gdp.
while the global slump and gas prices has taken a huge toll on other oil-dependent economies like Brazil and Venezuela Norway has been less affected this is because over the years the country has stored much of its public money in its sovereign wealth fund which is like an investment account for countries and norway's is reportedly the largest in the world.
Norway's economy also benefits from the country's unique arrangement with the EU the so-called Norwegian model means that although norway is not an official member.
it has full access to the blocks internal market and it can trade most goods with member states duty free.
it's not limited by the EU strict internal trade policy and this has the freedom to negotiate free trade agreements with countries outside the organization.
when it comes to Norway's defense existing outside the EU does have certain disadvantages .
Norway has a little say in EU policies regarding regional security which is problematic when dealing with Russia over their shared border still Norway does benefit from its membership in NATO which is crucial as the country is relatively weak on its own its military encompasses just seventy thousand personnel and a seven billion dollar defense budget.
Norway is doing well but like other scandinavian countries.
Norway is struggling to control an influx of migrants integrate ethnic minorities and navigate an aging population.
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