Developed countries, also called developed countries and advanced countries. It refers to those countries with high level of economic and social development and people's living standards, also known as high economic development countries (MEDC). The common characteristics of developed countries are high human development index, high per capita gross national product, high industrialization level and high quality of life. By exploiting natural resources, high per capita GNP and human development index can also be achieved, but they may not belong to developed countries (such as Qatar, Brunei and Saudi Arabia).
Norway is one of the most developed countries in the world. The per capita GDP reached 8 1085 USD (data of 20 10) and 20 1 1, ranking third in the world, second only to Qatar and Luxembourg. In 20 13 years, the per capita GDP exceeded $654.38 million. Norway is a highly developed industrial country and one of the top ten economic countries in Europe. Per capita GDP is the highest in Northern Europe. Since 1990s, Norway has surpassed Britain in oil and gas production and become a new oil and gas producer. The oil and gas produced in Beihai Oilfield not only meets domestic consumption, but also is exported in large quantities. Many new oil pipelines, oil terminals and oil ports have been built in the concentrated waters of major oil fields in the North Sea. Deep-sea oil production technology is developed.
Norway is a developed country with modern industry. The economy developed rapidly in the 1970s, and there were ups and downs in the 1980s. In the early 1990s, due to the cancellation of the oil production quota, the income increased sharply and the foreign trade surplus increased greatly. 1990 petroleum fund was established, and in 2006 it was renamed as "government pension fund-global" (i.e. sovereign wealth fund). Thanks to the huge profits from oil and gas exports, Norway's economy is in good condition, and the unemployment rate and inflation rate remain at a low level. After the financial crisis broke out in 2008, the Norwegian government introduced a package of countermeasures, and the Norwegian economy was not significantly affected, and it recovered stability and achieved sustained growth in a short time. Since 20 14, due to the drop in oil prices, the investment in Norwegian oil and gas industry has decreased and the economic growth rate has slowed down, but the fundamentals have remained good.