top of pageBackground: First discovered by the Norwegians in the 12th century the islands served as an international whaling base during the 17th and 18th centuries. Norway's sovereignty was recognized in 1920; five years later it officially took over the territory.
Climate: arctic, tempered by warm North Atlantic Current; cool summers, cold winters; North Atlantic Current flows along west and north coasts of Spitsbergen, keeping water open and navigable most of the year
Terrain: wild, rugged mountains; much of high land ice covered; west coast clear of ice about half the year; fjords along west and north coasts
GeographyNote:there are 5 meteorological/radio stations
demilitarized by treaty (9 February 1920)
top of pagetop of pageGovernment type: territory of Norway administered by the Ministry of Industry, Oslo, through a governor (sysselmann) residing in Longyearbyen, Spitsbergen; by treaty (9 February 1920) sovereignty was given to Norway
top of pageEconomy 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.
Exchange rates: Norwegian kroner (NKr) per US$1 - 6.7014 (January 1995), 7.0469 (1994), 7.0941 (1993), 6.2145 (1992), 6.4829 (1991), 6.2597 (1990)
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