Best known for its Vikings, ships and fjords, and Playwright Henrik Ibsen, the Kingdom of Norway covers approximately 150,000 square miles of territory including the islands of Svalbard and Jan Mayen. Its capital is Oslo and its population, at roughly 4,593,041, does not even reach that of a major U.S. city. Nonetheless, Norway’s manufacturing sector is notable and growing. In addition, it is the world’s third largest exporter of oil, after Saudi Arabia and Russia, and is also a major producer of metals such as aluminum, magnesium, ferroalloys as well as zinc, copper, and nickel, making it an important resource for manufacturing worldwide. The pharmaceutical industry is rather prominent in Norway. In fact, according to the Norwegian Association of Pharmaceutical Manufacturers LMI, “43 companies are members LMI as of 1 January 2006, representing 83 percent of total medicine sales… Five of the member companies manufacture pharmaceuticals in Norway. The others import and follow up their pharmaceutical products in Norway.” The Ministry of Trade & Industry in Norway says this about the metalworking industry there: “Metal works are spread all over Norway. These mainly manufacture serially produced finished and semi-finished goods – world-renowned products such as fishhooks made by O Mustad. The competition from low-price countries in Eastern Europe and Asia has grown considerably over the past ten years, but Norwegian manufacturers have responded to this by creating a brand image of quality and delivery dependability. Norwegian automotive-component manufacturers, with Kongsberg Automotive and Hydro Automotive Structures in the lead, have gradually become key subcontractors to a number of automotive manufacturers in Europe, Japan and the USA. The engines and motors manufactured include, among other things, hydroturbine and gas-turbine packages, combustion engines and agricultural machinery. This sector consists of a small number of manufacturers who have a few, but large, orders. The industry was formed to cover the needs of the hydropower, maritime, offshore and process sectors. Over the past few years, there have been drastic cutbacks in hydropower developments in Norway and suppliers to the hydropower sector have made a considerable commitment to the export market. Norway also has several major manufacturers of engines and engine parts for large vessels – such as Ulstein Bergen.”
According to Statistics Norway, “sales of goods manufactured in Norway rose from 2004 to 2005. The largest rise took place in the oil refining and basic chemicals industry. Most manufacturing industries saw an increase, but the pulp and paper industry went slightly down.”
The organization continues: “The commodity statistics show a 9 per
cent
increase in sales of manufactured
goods in manufacturing, mining and quarrying, from NOK 414 billion in
2004 to NOK
Sales in the oil refining and basic chemicals industries rose by more than 20 per cent from NOK 66 billion to NOK 79 billion. Both increased prices and increased production of oil refining products caused the rise. Production of other transport equipment also saw a considerable growth in 2005, from NOK 44 million to NOK 52 billion. Shipbuilding in Norway went up, after a decline in 2004. The largest relative rise is found for production of metal products. The sales of these products went up by 21 per cent. This growth can be explained by the increase in the Norwegian construction industry.” The following table is courtesy of Statistics Norway:
Employment Statistics According to the U.S. Dept. of State, Norway’s work force as of 2004 was 2.38 million and is broken down as follows: Government, social, personal services--37.6%; wholesale and retail trade, hotels, restaurants--17.5%; manufacturing and mining--12.7%; transport and communications--7.4%; financing, insurance, real estate, business services--12%; agriculture, forestry, fishing--3.9%; construction--6.7%; oil extraction--1.4% Import/Export Data* The U.S. Dept. of State reports that Norway’s GDP by activity (2003) is as follows: Agriculture, hunting, forestry, fishing, and fish farming--1.9%; Oil and gas extraction incl. services and mining and quarrying--12.3%; Manufacturing--18.2%; Electricity, gas, and water supply--2.0%; Construction--6.4%; Wholesale and retail trade, motor vehicle repair, hotels and restaurants--10.7%; Transport industries--9.7%; Post and telecommunications, financial intermediation, dwellings, business services--20.6%; Public administration and defense--4.8%; Education, health and social work, and other social and personal services--13.4% Trade statistics, as of 2004 are reported as follows: Exports Exports (f.o.b.)--$76.64 billion. Major markets: U.K., Germany, France, Netherlands, U.S. (2004, 8.4%), Sweden. Imports Imports (f.o.b.)--$45.96 billion. Major suppliers: Sweden, Germany, Denmark, U.K., U.S. (2004, 4.9%), France, Netherlands. Notable companies that are based or have plants here
Important links to valuable resources
Trade Representation
Travel & Tourism Resources If you are planning on taking a business trip to Norway, you might want to check out these online resources: english.norge.no and www.visitnorway.com for accommodations, city guides, weather reports, travel resources and more.
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