Photo: Marit Baekkelund Randsborg.Photo: Marit Baekkelund Randsborg

Norway’s Most Important Trading Partner

Britain remains Norway’s most important trading partner receiving ¼ of Norway’s total exports in 2013. Norway is Britain’s largest external supplier of energy and seafood and the British car industry increased its sales to Norway with almost 50 percent.

The energy sector composed more than 88 percent of the overall Norwegian export to the UK, including over 35 percent of Norwegian petroleum in 2013. There is a stabile development in gas, but a declining trend in oil partly because of subsided production in the fields that feeds the Teesside-connection and partly due to market relations. Norwegian businesses for wind power, energy efficiency improvement and smart green IT are in powerful growth in the UK. During 2014, Statnett will also make a decision concerning investment in the electricity connector project between Norway and the UK. The connector is due to be in operation by 2020, and as the world longest electricity connector it will contribute to an increased production and consumption of renewable energy in both countries.

The seafood export to the UK increased with nearly 15 percent from 2012 to 2013. Norway exported fish, mollusks and crustaceans to Britain for 2.6 billion pounds in 2013, making UK the fifth biggest seafood market to Norway, and Norway the biggest supplier of seafood to the UK. Fresh salmon is a large part of the export. The Norwegian Seafood Council expects that also the Norwegian cod market will grow in the UK during 2014.

Team Norway in the UK will also continue to focus on creative industries and technology in 2014. The priorities within creative industries will be Norwegian design, literature and music.

The UK is in turn Norway’s fourth biggest provider of goods, after Sweden, Germany and China. In 2013, Norwegian import of British products composed more than 6 percent of our total import. Products of mineral oil had the greatest growth; the import increased by more than 75 percent in 2013 compared to 2012. The import of British vehicles increased with more than 44 percent.

The UK is also Norway’s fifth most important market related to tourism. British tourists spent in total 508 000 nights in Norwegian hotels last year.

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