Svalbard

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Introduction - Svalbard:
Location - Svalbard:
People - Svalbard:
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Economy - Svalbard:
Economy overview	Coal mining is the major economic activity on Svalbard. The treaty of 9 February 1920 gave 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%

Labor force	NA

Budget	revenues: $25.07 million expenditures: $NA (2004 est.)

Exports	$NA

Imports	$NA

Economic aid recipient	$8.2 million from Norway (1998)

Currency code	Norwegian krone (NOK)

Exchange rates	Norwegian kroner per US dollar - 6.4117 (2006), 6.4425 (2005), 6.7408 (2004), 7.0802 (2003), 7.9838 (2002)

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