Further growth in globalization

Temporary Labour ContractsConstruction Workers, Illustration. Photo: Pixabay.com

The total number of foreign-controlled Norwegian enterprises continues to rise, and the strongest growth is in Swedish and Danish ownership. However, enterprises that are owned from the USA contribute the most to value added.

 

The number of foreign-controlled enterprises in Norway increased by 284 in 2015, giving a total of 7 249 such enterprises.

These enterprises were made up of almost 337 000 employees and accounted for NOK 1 326 billion in turnover, which was 21 per cent of the employment and 27 per cent of the turnover within the Norwegian business sector as a whole.

Around 80 per cent of the foreign-controlled Norwegian enterprises were owned from countries within the EU.

Sweden was the largest ownership country with 2 200 units, Denmark was the second largest with 964 units, while Great Britain was the third largest with 698 units.

Measured in turnover, however, the USA was the most important ownership country, with a share of 21 per cent. Second most important was Sweden with a share of 17 per cent, followed by Great Britain with 11 per cent.

Huge Nordic dominance
A grand total of 3 506 Norwegian enterprises were owned from other Nordic countries. This is 201 more units than in 2014, and represents nearly half of the foreign-controlled enterprises.

Sweden and Denmark accounted for the better part of the increase, with 110 and 65 more units, while Finland accounted for the rest. Iceland, however, experienced a decline in the number of units.

“America first”
Measured in value added, the USA was the largest ownership country, with a share of 22 per cent, followed by Sweden with 15 per cent and Great Britain with 13 per cent.

Total value added within foreign-controlled Norwegian enterprises amounted to NOK 429 billion, which was 25 per cent of the value added within the Norwegian business sector as a whole in 2015.

 

Source: SSB / Norway Today

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