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Norway has both administrative and political subdivisions on two levels: counties and municipalities. The Sámi people have a certain amount of self-determination and influence over traditional territories through the Sámi Parliament and the Finnmark Act. Norway maintains close ties with both the European Union and the United States. Norway is also a founding member of the United Nations, NATO, the European Free Trade Association, the Council of Europe, the Antarctic Treaty, and the Nordic Council; a member of the European Economic Area, the WTO, and the OECD; and a part of the Schengen Area. In addition, the Norwegian languages share mutual intelligibility with Danish and Swedish.

Norway maintains the Nordic welfare model with universal health care and a comprehensive social security system, and its values are rooted in egalitarian ideals.[22] The Norwegian state has large ownership positions in key industrial sectors, having extensive reserves of petroleum, natural gas, minerals, lumber, seafood, and fresh water. The petroleum industry accounts for around a quarter of the country's gross domestic product (GDP).[23] On a per-capita basis, Norway is the world's largest producer of oil and natural gas outside of the Middle East.[24][25]

The country has the fourth-highest per-capita income in the world on the World Bank and IMF lists.[26] On the CIA's GDP (PPP) per capita list (2015 estimate) which includes autonomous territories and regions, Norway ranks as number eleven.[27] It has the world's largest sovereign wealth fund, with a value of US$1 trillion.[28] Norway has had the highest Human Development Index ranking in the world since 2009, a position also held previously between 2001 and 2006;[29] it also has the highest inequality-adjusted ranking per 2018.[30] Norway ranked first on the World Happiness Report for 2017[31] and currently ranks first on the OECD Better Life Index, the Index of Public Integrity, the Freedom Index,[32] and the Democracy Index.[33] Norway also has one of the lowest crime rates in the world.[34]

Although the majority of Norway's population is ethnic Norwegian, in the 21st century, immigration has accounted for more than half of population growth; as of 2021, the five largest minority groups in the country are the descendants of Polish, Lithuanian, Somali, Pakistani, and Swedish immigrants.[7]