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Norway, or Kingdom of Norway for official purposes, is a country located in northern Europe, west of the Scandinavian peninsula. It has common borders with Sweden, Finland and Russia. Its long coastline Atlantic is home to numerous fjords. In 2008, with 4 737 170 inhabitants to 385 199 km ² of which 307 860 km ² of land, Norway after Iceland is the country least densely populated in Europe. Its capital, Oslo, official language is Norwegian (bokmål and nynorsk) and money for the Norwegian krone (NOK). It exercises its sovereignty over the Arctic islands of Svalbard and Jan Mayen. The sovereignty of Norway on Svalbard is based upon the Svalbard Treaty, which does not apply to the island of Jan Mayen. Bouvet Island in the South Atlantic and Peter I Island and Dronning Maud in Antarctica are external dependencies, but are not part of the Kingdom of Norway. Since World War II, Norway has seen a rapid economic expansion and is now among the richest countries in the world with a highly developed social policy. Economic progress is partly explained by the discovery and development of large reserves of oil and natural gas on its side. Norway is ranked first on the human development index (tie with Iceland to the 2008 crisis). It was also declared the country most at peace in the world in 2007 by the Global Peace Index. She is a founding member of NATO.