Norway enjoys a prosperous mixed economy, with an active private sector, a large state sector, and an extensive social safety net. The government controls key areas, such as the vital petroleum sector, through extensive regulation and large-scale enterprises majority-owned by the state.

Norway is the world's third-largest natural gas exporter; and seventh largest oil exporter, making one of its largest offshore oil finds in 2011.  Aware that oil and gas production cannot last for ever, Norway has the world's second largest sovereign wealth fund, which puts aside state revenue from oil and gas. Its savings were valued at over $700 billion at January 2013.

Key facts
*  Currency:  Norwegian kroner – £1=10.25 kr, 1€=8.5 kr (February 2014)
*  GDP per capita: 41,156 € (at end 2012)
*  Industrial production growth rate 3.2%. (estimated in 2012)
*  Inflation: 0.7% (2012 data)
*  Unemployment rate:  3.2%  (estimate at 2012)
*  Natural resources: natural gas, crude oil, timber, fishing

Relations with EU
By way of a referendum in November 1994 Norway opted to stay out of the EU. Despite this, as a member of the European Economic Area, it contributes significantly to the EU budget.

Industries and exports
*  petroleum and gas, food processing, shipbuilding, pulp and paper products, metals, chemicals, timber, mining, textiles, fishing
*  Exports:  Crude oil - exports: 1.602 million barrels per day (2010 estimate)
                   Natural gas - exports: 107.3 billion cubic metres (2010 estimate)
*  Leading export markets: UK 25.6%, Germany 12.6%, Netherlands 12%, France 6.7%, Sweden 6.3%, USA 5% (2012 data)

Telephone system: one of the most advanced telecommunications networks in Europe. Norway has a domestic satellite system which, given the extent of mountainous rural areas, enables wide use of mobile phones.