|Author (Person)||Archick, Kristin|
|Author (Corporate)||United States: Library of Congress: Congressional Research Service (CRS)|
|Publisher||USA Congress: Library of Congress|
|Series Title||CRS In Focus|
The five Nordic countries—Denmark, Finland, Iceland, Norway, and Sweden—share deep historical, linguistic, and cultural ties and many political and economic similarities. They are all stable democracies with parliamentary systems of government and prosperous market economies with relatively high standards of living. With a total population of roughly 27 million people (see Figure 1), the Nordics collectively form the world’s 12th -largest economy. They have extensive social welfare systems and relatively high tax rates but are considered to be innovative, business friendly countries. The Nordics generally rank high on global competitiveness indexes. Foreign trade plays a key role in their economies. They also enjoy substantial natural resources. Norway in particular benefits from vast North Sea oil and natural gas deposits.
This In Focus was first published in September 2018 and it has been updated several times over the years. The latest update was published in April 2023. All updates can be checked on the Primary Source link provided below.
|Subject Categories||Politics and International Relations|
|Countries / Regions||Denmark, Finland, Iceland, Norway, Sweden, United States|