Norway, officially the Kingdom of Norway, is a country and constitutional monarchy in Northern Europe that occupies the western portion of the Scandinavian Peninsula. It is bordered by Sweden, Finland, and Russia. The distance between the northern and southern parts of Norway is considerable compared to east-west distances. The country's extensive coastline along the North Atlantic Ocean is home to its famous fjords.
The Kingdom of Norway also includes the Arctic island territories of Svalbard and Jan Mayen. Norwegian sovereignty of Svalbard is based upon the Svalbard Treaty, but this does not apply to Jan Mayen. Bouvet Island in the South Atlantic Ocean and claims for Peter I Island and Queen Maud Land in Antarctica are also external dependencies, but these are not part of the Kingdom.
Since World War II, Norway has experienced rapid economic growth, and is now amongst the wealthiest countries in the world, with a fully developed welfare system. This economic progress is caused in part by the exploitation of oil and gas reserves off coast. Norway was ranked highest of all countries in human development from 2001 to 2007, and then again in 2009. It is rated the most peaceful country in the world in a 2007 survey by Global Peace Index.