Reports
Giving you in-depth insight into Norwegian-American Business
US Companies in Norway: Investment & Activities
US companies play a vital role in shaping Norway’s economic landscape, representing both globally recognized consumer brands and significant industrial investments. The United States stands as one of Norway’s closest and most valued allies, a partnership further reinforced by robust business ties and shared economic interests. This report, conducted by Menon Economics on behalf of AmCham Norway, underscores these strong economic connections by analyzing the impact of US companies on Norway’s economy.
US corporations have steadily increased their presence in Norway, with almost 400 active entities in 2022. These companies employ close to 42,000 individuals and as such represent 2.3% of all private employment in Norway. In addition, US companies contribute significantly to Norwegian economic activity, with combined revenues of almost NOK 330 billion in 2022, thereby making up about 3.2% of total nationwide production. Furthermore, these companies contributed with a gross value added of NOK 117 billion, accounting for 2.3% of the Norwegian GDP, illustrating the substantial economic footprint of US investments across various sectors.
In 2022, the stock of direct investments by US companies amounted to almost NOK 120 billion. Investments are concentrated in capital-intensive sectors like petroleum and manufacturing, which represents about 75% of investments in Norway from US companies. Over the last ten years, the stock of US direct investments has been relatively stable between NOK 110 billion and NOK 130 billion, but the share of US owned equity has fallen steadily since 2010.
US companies continue to be integral to Norway’s economic growth, fostering innovation, employment, and international collaboration.
The aim of the report is to highlight the main ways in which the industry contributes to the Norwegian economy and society and provide comparisons with other sectors in Norway, and with similar sectors in other countries.
Carried out by Oslo Economics and BI Norwegian Business School on behalf of the American Chamber of Commerce in Norway, the report and its analysis is based on official accounting data, information from in-depth interviews and data from an online questionnaire conducted in 2015
This report presents an analysis of foreign multinationals in Norway. The principal aim is to identify the economic contributions that foreign multinationals make to the Norwegian society.
The project was undertaken by BI Norwegian Business School on behalf of AmCham Norway, with Professor Torger Reve as head of research, Marius Nordkvelde as project leader and Karthik Gowda as field researcher.