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Translation Services » Country Guides O - Z » Svalbard

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Economy Of Svalbard
Svalbard Information - Country Guides

Economy overview Coal mining is the major economic activity on Svalbard. The treaty of 9 February 1920 gives the 41 signatories equal rights to exploit mineral deposits, subject to Norwegian regulation. Although US, UK, Dutch, and Swedish coal companies have mined in the past, the only companies still mining are Norwegian and Russian. The settlements on Svalbard are essentially company towns. The Norwegian state-owned coal company employs nearly 60% of the Norwegian population on the island, runs many of the local services, and provides most of the local infrastructure. There is also some hunting of seal, reindeer, and fox.
GDP purchasing power parity - NA
GDP - real growth rate NA
GDP - per capita purchasing power parity - NA
GDP - composition by sector  
Investment gross fixed  
Population below poverty line NA
Household income or consumption by percentage share lowest 10%: na
highest 10%: na
Distribution of family income - Gini index  
Inflation rate consumer prices NA
Labor force NA
Labor force by occupation  
Unemployment rate  
Budget revenues: $11.5 million
expenditures: $11.5 million, including capital expenditures of na (1998 est.)
Public debt  
Agriculture products  
Industries  
Industrial production growth rate NA
Electricity production NA kWh
Electricity production by source fossil fuel: 57.9984%
other: 0%
hydro: 42.0016%
nuclear: 0%
Electricity consumption NA kWh
Electricity exports  
Electricity imports  
Oil production  
Oil consumption  
Oil exports  
Oil imports  
Oil proved reserves  
Natural gas production  
Natural gas consumption  
Natural gas exports  
Natural gas imports  
Natural gas proved reserves  
Current account balance  
Exports NA
Exports commodities  
Exports partners  
Imports NA
Imports commodities  
Imports partners  
Reserves of foreign exchange gold  
Debt external  
Economic aid recipient $8.2 million from Norway (1998)
Currency Norwegian krone (NOK)
Currency code NOK
Exchange rates Norwegian kroner per US dollar - 7.0802 (2003), 7.9838 (2002), 8.9917 (2001), 8.8018 (2000), 7.7992 (1999)
Fiscal year  

Introduction and Background to Svalbard | Geography Of Svalbard | People Of Svalbard | Government Of Svalbard | Communications Of Svalbard | Transportation Of Svalbard | Military Of Svalbard | Transnational Issues Of Svalbard
Svalbard Flag Map Of Svalbard
 

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