The Future Prospects Of Norway - 1128 Words

In order to discuss the future prospects of Norway for the coming years, it is interesting and useful to review the performance of the country in the past to identify possible trends. At the end of 2013, Norway was calculated as having the second highest GDP in the world (only under Luxembourg), as it was 65,515 US dollars per capita. The following graph (Chart 1 - see appendix) shows the growth in Norway’s GDP from 1970. Here, we can see the effect of the recession in 2008, and how it reflected on the downfall of the GDP’s value. Only until 2010 is where we see the value become even with the pre-crisis number. Yet, according to Figure 1 (below), the index shows that it has not yet reached the value that it would have, following the trend prior to 2008. Figure 1. Norway’s Gross Domestic Product. The graphic shows the growth of GDP for Norway in red, Luxemburg in black and the rest of the OECD countries in grey. Source: OECD, 2014 Apart from GDP, there are also other indicators that can give us an impression of the economic performance of Norway in the past years. For instance, in 2013 the long-term unemployment rate was 9.3% and the overall trend suggests it may continue to go down (Appendix 1, Chart 1). This refers to those in unemployment that are aged 15 and over, were without work during the reference week, yet were available for and actively seeking for work during the previous four weeks. Moreover, the inflation and long-term interest ratesShow MoreRelatedIndigenous Peoples, Ethnic Minority And Multi Cultural Society1626 Words   |  7 Pagesmulti-cultural society: What role in a changing world The Sami people are indigenous people in Norway, Sweden, Finland and the Russia in the Kola peninsula. 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