In 1969 large reserves of oil and gas were discovered under the ocean bed off the Norwegian coast. Production started in 1971 and Norway has now become the next largest oil-exporting nation in the world. Oil and gas together with our other natural resources (hydro-electric power, timber, metal ores, minerals and the rich fishing grounds off our coast) have been of vital importance to the Norwegian economy and have been responsible for the development of high technology and the creation of a modern industrial nation.

Ever since the Viking Age, ship-building and ocean trade have been vital to the Norwegian economy. Norwegian ships transport goods across the seven seas and the Norwegian merchant fleet is the fourth largest in the world.

Fishing is also important for Norway and gives employment to thousands. In addition to the traditional fishing at sea, we have in recent years also developed fish-farming. Norwegian salmon is very popular and is exported to all corners of the world. Norway is also a large producer and exporter of timber, paper, building materials, furniture and other products based on timber. The craft of building in timber has long traditions in Norway, as can be seen from the magnificent stave churches from the Middle Ages.

No more than 4% of the country consists of arable land, but we nevertheless manage to meet the greater part of the domestic demand for agricultural products. The Norwegian climate, unpolluted natural resources and extensive quality control ensure fresh, clean food. Norwegian milk is the basis for the world-famous Jarlsberg cheese.

The Norwegian merchant shipping fleet is the fourth largest in the world. Many of the world's largest and most modern cruise ships sail under the Norwegian flag.