Svalbard Economy 1997

Economy - overview Coal mining is the major economic activity on Svalbard. By treaty (9February 1920), the nationals of the treaty powers have equal rights to exploitmineral deposits, subject to Norwegian regulation. Although US, UK, Dutch,and Swedish coal companies have mined in the past, the only companies stillmining are Norwegian and Russian. The settlements on Svalbard are essentiallycompany towns. The Norwegian state-owned coal company employs nearly 60% ofthe Norwegian population on the island, runs many of the local services, andprovides most of the local infrastructure. There is also some trapping ofseal, polar bear, fox, and walrus.

Labor force NA

Budget
revenues : $11.6 million
expenditures: $11.6 million, including capital expenditures of $NA (1995 est.)

Electricity - capacity NA kW

Electricity - production NA kWh

Electricity - consumption per capita NA kWh

Currency 1 Norwegian krone (NKr) = 100 oere

Exchange rates Norwegian kroner (NKr) per US$1 - 6.4475 (January 1997), 6.4498 (1996),6.3352 (1995), 7.0576 (1994), 7.0941 (1993), 6.2145 (1992)

NOTE: The information regarding Svalbard on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Svalbard Economy 1997 information contained here. All suggestions for corrections of any errors about Svalbard Economy 1997 should be addressed to the CIA.