Svalbard Economy 2001

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 trapping of seal, polar bear, fox, and walrus.

GDP: purchasing power parity - $NA

GDP - real growth rate: NA%

GDP - per capita: purchasing power parity - $NA

Population below poverty line: NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices): NA%

Labor force: NA

Budget:
revenues: $11.5 million
expenditures: $11.5 million, including capital expenditures of $NA (1998 est.)

Industrial production growth rate: NA%

Electricity - production: NA kWh

Electricity - production by source:
fossil fuel: NA%
hydro: NA%
nuclear: NA%
other: NA%

Electricity - consumption: NA kWh

Exports: $NA

Imports: $NA

Economic aid - recipient: $8.2 million from Norway (1998)

Currency: Norwegian krone (NOK)

Currency code: NOK

Exchange rates: Norwegian kroner per US dollar - 8.7784 (January 2001), 8.8018 (2000), 7.7992 (1999), 7.5451 (1998), 7.0734 (1997), 6.4498 (1996)

NOTE: The information regarding Svalbard on this page is re-published from the 2001 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Svalbard Economy 2001 information contained here. All suggestions for corrections of any errors about Svalbard Economy 2001 should be addressed to the CIA.