Economy
Norway is a very prosperous country with a strong private sector, a large state sector and an extensive social safety net. The World Bank (2012) ranked the country’s nearly US$500 billion gross domestic product (GDP) twenty-third globally. The Legatum Institute ranked Norway’s economy first out of 142 countries on its Economy Sub-Index (2013).
Recently, Norway has focused on containing its expensive welfare programs and accumulating revenue from its rich North Sea oil deposits. These actions have provided the country with the resources required for additional fiscal stimulus.
The government controls the country’s vital petroleum sector through extensive regulation and state-owned enterprises. Norway is blessed with many natural resources, such as petroleum, hydropower, fish, forests and minerals, and is highly dependent on the petroleum sector, which accounts for the largest portion of its export revenue and about 20% of government revenue. Norway is the world’s third-largest natural gas exporter and seventh largest oil exporter.
Norway’s main exports are crude petroleum, petroleum gas, refined petroleum, non-fillet fresh fish and raw aluminum. Major export trading partners for Norway are the United Kingdom, Germany, the Netherlands, Sweden and France. Exports are valued at about US$160 billion and imports nearly US$90 billion.
GDP is forecast to grow at 2.6 percent this year, close to the average growth rate over the last 40 years. Norway’s unemployment rate of about 3.5 percent is very low, compared with the rest of the world. Inflation this year is expected to rise a modest 1.5 percent.
Finding a Job
Norway’s impressive low unemployment rate coupled with its perennial high ranking as an attractive country for expat workers should mean there are lots of employment opportunities in the country. But, according to a study by the University of Bergen, Norwegian employers seem to favor local Norwegian workers even if a foreigner is better qualified for the job.
What can you do? As with any country, you need to prepare yourself well for both cultural and business integration and, of course, learn the local language.
Norway’s major cities offer the best job opportunities, especially Oslo. Job search strategies you can use in Norway are similar to the U.S. Industry associations are an excellent way to find out about international opportunities in your field. Check job listings in local newspapers, Craigslist in Oslo and both global and local online employment sites. Be sure to send unsolicited applications to targeted employers and contact temporary work or staffing agencies online or onsite. Most importantly, check out local online forums and bulletin boards in the area you have chosen. Locals can be a great source of opportunities.
To get you started, here is a list of websites that may help you in your job search:
Craigslist Oslo
Ingeniorstillinger Norway