Norway is located in the north of Europe and borders Sweden, Finland and Russia. The population is 4.9 million, 1.3 million of whom live the greater Oslo area. The population is expected to reach 5.8 million by 2030, with the proportion of people over 65 increasing from 22% to 33% over the same period. Norwegian is the official language and Evangelical Lutheran is the main religion. The Norwegian Kroner is the official currency, worth approximately €0.13. The standard rate of VAT is 25%.

 Norway                               Capital: Oslo



4.9 million à 5.8 million (2030)

Proportion of people over 65 is 22% à 33% (2030)




Evangelical Lutheran

GDP / head (2010)

€ 64,500   (EU average: € 24,400)


Kroner (€0.13)



GDP growth (volume)



2.7% in 2012 (f)

2.9% in 2013 (f)

Unemployment rate

(Jan 2012)

3.2%   (EU average: 10.1%)

Inflation rate

1.2%   (EU average: 3.1%)


Figures relate to 2011, except where indicated.                                      Source: Eurostat, Searce (2012)


Norway has a GDP per capita of €64,500, compared to the EU average of €24,400 in 2010. According to the OECD, the Norwegian economy grew by 1.5% in 2011, and is expected to grow by 2% in 2012 and by 2.7% in 2013 (compared to the Eurozone average growth of 1.6%, 0.2% and 1.4% respectively). The inflation rate was -0.2% in 2011, compared to 3% in the EU. The unemployment rate was 3.2%, compared to 9.8% in the EU as a whole in 2011.

Norwegians consider themselves to be egalitarian. The principles of respect, interdependence and humility are rated highly. Business is conducted informally but communication is direct. The transaction is more important than the personal relationship. Decisions are usually driven by consensus and can often be lengthy or time consuming, with great attention to detail.