Norway officially the Kingdom of Norway, is a country in Northern Europe occupying the western portion of the Scandinavian Peninsula, as well as Jan Mayen and the Arcticarchipelago of Svalbard under the Spitsbergen Treaty. The majority of the country shares a border to the east with Sweden; its northernmost region is bordered by Finland to the south and Russia to the east. Scotland and Faroe Islands lie to its west across the North Sea, Iceland, and Greenland lie to its west across the Norwegian Sea, and Denmark lies south of its southern tip across the Skagerrak Strait. The capital city of Norway is Oslo. Bouvet Island and Peter I Island are dependent territories (Norwegian: biland) of Norway, but not considered part of the Kingdom. Norway also lays claim to a section of Antarctica known as Queen Maud Land, a claim that has been recognised by Australia,France, New Zealand, and the United Kingdom.^[7] Norway's extensive coastline, facing the North Atlantic Ocean and the Barents Sea, is home to its famous fjords.

After World War II, Norway experienced rapid economic growth in its economy, the first two decades due to the Norwegian shipping and merchant marine and domestic industrialization, and from the early 1970s, a result ...