They should work more on diversifying their economy, though.
They should work more on diversifying their economy, though.”
- In fact, it is rather diversified. Only 3 percent of the labor force are oil industry workers.
A lot of Norwegians work in other lucrative businesses like shipping, shipbuilding, the fishing industry, mining, manufacturing, the forest industry, investment and trade etc.
Norway can’t compete with nations like Sweden and Germany when it comes to creating value-added industrial output (through refining raw materials into advanced products like cars, airplanes, machinery, locomotives, etc), but they are much more competent in this field than most other oil exporting countries.