More foreign ownership

The city of OsloOslo City.Photo: Norway Today media

The total number of foreign-controlled enterprises in Norway continues to rise, and the strongest growth is in British, North-American and Swedish ownership. Enterprises controlled from the USA still contribute the most to the value added.

565 more enterprises were subject to foreign control during 2014. Measured in employment and turnover, the increase amounts to roughly 27 000 people and about NOK 100 billion. In total there are 6 965 foreign-controlled enterprises in Norway. These enterprises account for almost 338 000 employees and NOK 1 500 billion in turnover, which is 22 per cent of the employment and 28 per cent of the turnover within the Norwegian business sector as a whole.

About 80 per cent of the foreign-controlled Norwegian enterprises are owned from countries within the EU. Sweden is the largest ownership country with 2 090 units, Denmark is second largest with 899 units, while Great Britain is third largest with 685 units. However, measured in turnover, the USA is the most important ownership country with a share of 24 per cent. Second most important is Sweden with a share of 16 per cent, followed by Great Britain with a share of 9 per cent.

Nordic dominance
A total of 3 305 Norwegian enterprises are controlled from other Nordic countries. This is 70 more units than in 2013 and nearly half of the foreign-controlled enterprises. Sweden accounts for the better part of the increase, while Finland and Iceland account for the rest. Denmark, however, experienced a small decline in the number of units. Great Britain and the USA account for the strongest growth of the countries outside the Nordic region.

Growth in value added
Measured in value added, the USA is the largest ownership country with a total share of 25 per cent, followed by Sweden and France with 12 per cent each. Total value added within foreign-controlled Norwegian enterprises amounts to NOK 467 billion. This is slightly more than a quarter of the total value added within the Norwegian business sector as a whole, and 3.6 per cent higher than in 2013.

 

Source: SSB / Norway Today

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