The five Nordic countries of Norway, Sweden, Finland, Denmark, and Iceland are located in Northern Europe. Norway has a mostly cold climate due to its far northern location, with about a third of the country north of the Arctic Circle. Norway's coastlines feature many fjords, which are steep-sided valleys carved by glaciers. Norway has a wealthy economy supported by oil and natural gas reserves under the North Sea and exports of seafood. The majority of Norway's population lives near the coasts and Oslo is the capital city.