Sitting atop the world’s largest sovereign wealth fund, accumulated over decades of judicious management of national oil wealth, perhaps insulates Norway from realities that apply elsewhere.
I wouldn't say far more. As long as oil is in high demand, sure, 50% of their exports are shipping reliably. But Sweden's GDP is 30% larger, much more diversified, and will withstand the eventual contraction of petroleum based income. Take a look at their respective exports:
Sweden has twice the population and what? Three times the landmass?
Sweden also does not have an oil fund where it invested much of the dino profits from the last 60 years. The Norwegian one won't last forever, but I'd bet it'll last longer than any of us.
Don't get me wrong; Sweden has a decent economy and the standard of living is still amongst top-20 on the planet. Norway just struck black gold and scored higher.
I’m no expert, but I wonder what the long-term socioeconomic effects are of Sweden not having been involved in major wars or colonial empires for hundreds of years.
