Norway’s economy was protected from the worst of the recession induced by the 2008-09 financial crisis and should escape relatively unscathed from the current euro area turmoil. This resilience owes a lot to the improvement of the terms of trade and the prudent management of petroleum wealth, which has led to a very strong fiscal position. Norway scores high in international comparisons of material well-being, but also shows up well in other comparisons such as community, environment and safety, and overall life satisfaction.