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Economy - overview:
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector, through large-scale state enterprises. The country is richly endowed with natural resources - petroleum, hydropower, fish, forests, and minerals - and is highly dependent on its oil production and international oil prices, with oil and gas accounting for one-third of exports. Only Saudi Arabia and Russia export more oil than Norway. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget. The government has moved ahead with privatization. Although Norwegian oil production peaked in 2000, natural gas production is still rising. Norwegians realize that once their gas production peaks they will eventually face declining oil and gas revenues; accordingly, Norway has been saving its oil-and-gas-boosted budget surpluses in a Government Petroleum Fund, which is invested abroad and now is valued at more than $250 billion. After lackluster growth of less than 1% in 2002-03, GDP growth picked up to 3-5% in 2004-07, partly due to higher oil prices. Norway's economy remains buoyant. Domestic economic activity is, and will continue to be, the main driver of growth, supported by high consumer confidence and strong investment spending in the offshore oil and gas sector. Norway's record high budget surplus and upswing in the labor market in 2007 highlight the strength of its economic position going into 2008. |
Trade Fairs,
Exhibitions, Conferences: |
Norway Trade Fairs - Norges Varemesse
Norway Trade Fairs has hosted Norway’s most successful exhibitions for almost nine decades, including 40 years at the Sjølyst centre in western Oslo. For the first half-century of its life, the foundation played a major role in developing and presenting Norwegian industry both at home and abroad. Since then, it has achieved a strong position as a very important, effective and forward-looking marketing channel.
Structural change in trade patterns – the formation of chains, mergers and the expansion of markets beyond national boundaries – have had their impact on the exhibition business. The first ”national” exhibitions were a combination of trade fair and general event. These have been replaced in part by more specialised shows, while a number of exhibitions are also merging to create effective meeting places.
Some of the biggest shows organised today at the new Norway Trade Fairs centre in Lillestrøm include the Autofil motor show, the Bygg Reis Deg building event, the Sjøen for Alle boat show, the Reiseliv travel trade exhibition, Nor-Shipping, Gift & Interiors and the Jobb & Utdanning careers and education show.
The new exhibition facility at Lillestrøm just outside Oslo gives the foundation even better opportunities to serve as Norway’s premier place. |
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