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From : ygdrasil21
Added: Aug 20, 2008
The Kingdom of Norway is a constitutional monarchy in Northern Europe that occupies the western portion of the Scandinavian Peninsula. It is bordered by Sweden, Finland, and Russia, while the United Kingdom and the Faroe Islands lie to its west across the North Sea. The country's extensive coastline, facing the North Atlantic Ocean, is home to its famous fjords.' Norway was ranked highest of all countries in human development from 2001 to 2006, and came second in 2007 (to fellow Nordic country Iceland). It also rated the most peaceful country in the world in a 2007 survey by Global Peace Index. It is a founding member of NATO. In the 1920s, Norway annexed Jan Mayen and was given the sovereignty over the Arctic archipelago of Svalbard under the Svalbard Treaty. The polar territories of Bouvet Island, Peter I Island and Queen Maud Land are external dependencies, but not parts of Norway. Becoming the first European nation to declare independence in the 20th century, since World War II Norway has experienced rapid economic growth, and is now amongst the wealthiest countries in the world. Norway is the world's third largest oil exporter after Russia and Saudi Arabia and the petroleum industry accounts for around a quarter of GDP The oil industry is mainly situated outside and controlled from the oil capital Stavanger. Norway has also rich resources of gas fields, hydropower, fish, forests, and minerals. Norway was the second largest exporter of seafood (in value, after China) in 2006. Other main industries include food processing, shipbuilding, metals, chemicals, mining, fishing and pulp and paper products. Norway has a Scandinavian welfare system and the largest capital reserve per capita of any nation.
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