Overview: Coal mining is the major economic activity on Svalbard. By treaty (9 February 1920), the nationals of the treaty powers have equal rights to exploit mineral deposits, subject to Norwegian regulation. Although US, UK, Dutch, and Swedish coal companies have mined in the past, the only companies still mining are Norwegian and Russian. The settlements on Svalbard are essentially company towns. The Norwegian state-owned coal company employs nearly 60% of the Norwegian population on the island, runs many of the local services, and provides most of the local infrastructure. There is also some trapping of seal, polar bear, fox, and walrus.

Budget: revenues $13.3 million; expenditures $13.3 million, including capital expenditures of $NA (1990)

Electricity: 21,000 kW capacity; 45 million kWh produced, 13,860 kWh per capita (1992)

Currency: 1 Norwegian krone (NKr)=100 ore

Exchange rates: Norwegian kroner (NKr) per US$1 - 6.8774 (January 1993), 6.2145 (1992), 6.4829 (1991), 6.2597 (1990), 6.9045 (1989), 6.5170 (1988)