Norway has a strong economy and is the world’s seventh largest oil exporter. The petroleum sector provides about 20% of national revenue. The Norwegian government anticipates an eventual decline in oil and gas production, and saves state petroleum revenues in the world’s second largest sovereign wealth fund, which was valued at over $500 billion in 2011. Returns from this fund are used to help cover public expenses.
source: Staveley Head, BP Statistical Review of World Energy 2011, National Bank of Belgium, CIA World Factbook, Swedish Energy Agency, U.S. Department of State
