Norway topped the list of 130 nations in the World Economic Forum's Global Gender Gap Report 2008. Oslo toppled Sweden, which was number one in 2007 but slipped to third place this year.

Norway got a score of 0.824 out of a perfect score of 1, which indicates the gender gap has been closed. On second spot is Finland which third place last year. Iceland kept its fourth ranking.

The fifth and sixth placers, New Zealand and the Philippines, likewise kept their respective rankings in 2008. The Philippines was the only Asian nation which made it to the top 10. The remaining four spots were held by Denmark, Ireland, the Netherlands and Latvia.

Klaus Schwab, founder and executive chairman of the forum, told BBC, "Greater representation of women in senior leadership positions within governments and financial institutions is vital not only to find solutions to the current economic turmoil but to stave off such crises in the future."

The index based its ranking on economic participation, educational attainment, political empowerment, health and survival of women in 130 nations.

At the bottom 5 of the list were Benin, Pakistan, Saudi Arabia, Chad and Yemen.