Norway is a small nation with a population of five million. It has the
second highest GDP per Capita in the world. Blessed with the natural
resources like oil, hydro power, and minerals, in Norway, contribution
of petroleum includes the largest portion of export revenue. Norway has
declared the monarchy over natural resources in an area of the North Sea
more than 40 years ago. With the passing time, they have discovered
enormous reserves of oil and gas in the region. Norway is the world's
sixth largest oil exporter and second largest natural gas exporter, 20%
of Norway's GDP comes from the oil and gas.
In near future it is expected that Norway will be among the richest
countries in the world. Due to its oil reserves, the nation has gained
reputations of having very satisfactory monetary balance sheet and
sizable accumulated wealth. The petroleum sector contributes to one
third of the government's revenue, through direct ownership interests as
well as in the form of taxes generated. Experts predict that oil
production after reaching a peak may decline, but it is not the case
with the natural gas production. It is anticipated to accelerate at both
new and existing fields.
However, Norway has an excess of oil and gas resource but other than
that, Norway is rich in fish, timber hydro power, and various minerals.
Norway also gains popularity for offering various generous social
benefits to the people of the nation that includes sickness and
disability benefits. Nation guarantees pension scheme to the workers,
subsidize, and free universal health care service. In the year 2009,
Norway experienced a little downfall in the economy, but the effect was
not adverse just like other developed countries were facing.
As Norway had taken a decision to be out of the European Union, but
still it is a part of the European Economic Area. The two-third of
Norway exports go to Europe, so the country is sensitive to all the
turmoil the investment market is facing. Because of all the above
reasons Norway has become a target for the investors as the economy of
nation has performed well in the past couple of years. The unemployment
rate has also remained low in Norway as the nation offers the best
standard of living and education. The nation also boasts of having a
stable political environment.
Those who are looking for an exposure in the Norway market can look for Global X FTSE Norway 30 ETF.
The fund was launched in November 2010. It tracks the FTSE Norway 30
Index, which was formed to monitor the performance of a broad stock
market in Norway. The Norw ETF
holds around 38% of the top three companies. Norway's largest oil
company, Statoil, has the top holding with 19% weight, Sea drill with 9%
weight hold up to 10% weight. The fund offers exposure about 61% to the
big cap companies. Sector wise, the energy sector grabs the maximum
weight of 49% share. The other two top sectors, like financial and
telecommunications contribute up to 24% of the assets.
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