The Trade Structure Between Turkey and Norway

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ECON 353
INTRODUCTION TO INTERNATIONAL ECONOMICS I
TERM PROJECT

“The Trade Structure Between Turkey and Norway”

TAHA SANTALU
1723436
23 January 2012

KINGDOM OF NORWAY

•Official language: Norwegian (Bokmal and Nynorsk) •Demonym: Norwegians
•Area: 385,199 sq. km (water 7.0 %) •Population: 4,885,240 (2010) •Density: 12.5/ sq. km •Annual population growth rate: 1.3 %
•Capital: Oslo (population: 599,230) •Other cities: Bergen (260,392), Trondheim (173,486) •Terrain: Rugged with high plateaus, steep fjords, mountains and fertile valleys. •Climate: Temperate along the coast, colder inland.

•GDP (nominal 2010): $412,989,604,299 •GDP Per Capita (nominal 2010): $84,538.2 •GDP PPP (2010): $277,941 million •GDP per capita PPP (2010): $53,738 •Annual GDP growth rate: 2.9 % (2010) •Unemployment (2010): 3.4 % •Gini (2008): 25.8 (low) (5th) •HDI (2011): 0.943 (very high) (1st) •Exchange Rate: $1=5.8861 Kroner (December 2011) •Education: 10 years compulsory •Literacy: 100 % •Current Account Balance (2010): 53,243 US$ •Current Acc. Bal. per GDP (2010): 12.4% •Work force (2011, 2.6 million): Legislators, senior officials, and managers 6%; professionals 13%; technicians and associate professionals 25.3%; clerks 6.8%; service workers and market sales workers 24%; agricultural, forestry, and fishery workers 2.2%; craft and related trades workers 10.2%; plant and machine operators and assemblers 7.1%; other occupations and unspecified 5.2%. •Natural resources: Petroleum, natural gas, iron ore, copper, lead, zinc, titanium, pyrites, nickel, fish, timber, hydropower. •Agriculture: Products--dairy, livestock, grain (barley, oats, wheat), potatoes and other vegetables, fruits and berries, furs, wool, pork, beef, veal, fish. •Industry: Types--petroleum and gas, food processing, shipbuilding, pulp and paper products, aluminum, ferroalloys, iron and steel, nickel, zinc, nitrogen, fertilizers, petrochemicals, hydroelectric power, refinery products, timber, mining, textiles, fishing, transport equipment, electronics. •GDP by activity (2010): Oil and gas 22%; general government 16%; manufacturing, mining, electricity, building and construction 15%; value added tax (VAT), etc. 11%; commodities, vehicle repairs, etc. 7%; communication and transport 4%; agriculture, forestry, and fishing 1%; other services (commercial, housing, financial, private health/education, hotel and catering, etc.) 24%. •Trade (2010): Exports (f.o.b.)--$178 billion. Major markets--U.K. 27%, Netherlands 12%, Germany 11%, Sweden 7%, France 6%, U.S. 5%. Imports (f.o.b.)--$122 billion. Major suppliers--Sweden 14%, Germany 12.3%, China 8.4%, Denmark 6.1%, U.K. 5.9%, U.S. 5.2%.

REPUBLIC OF TURKEY •Official language: Turkish •Demonym: Turkish

•Area: 783,562 sq. km (water 1.3 %) •Population: 72,752,325 (2010) •Density: 92.84/ sq. km •Annual population growth rate: 1.235 %
•Capital: Ankara (population: 4.77 million) •Other cities: Istanbul (13,255,685), Izmir (3.949 million) •Terrain: Narrow coastal plain surrounds Anatolia, an inland plateau becomes increasingly rugged as it progresses eastward. Turkey includes one of the more earthquake-prone areas of the world. •Climate: Temperate in the coastal regions, relatively rainy in Black Sea Region, and a continental climate in central regions. •GDP (nominal 2010): $734,364,471,760 •GDP Per Capita (nominal 2010): $10,094.03 •GDP PPP (2010): 1,115,994 million US$ •GDP per capita PPP (2010): $12,300 •Annual GDP growth rate: 8.2%(2010)...
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