Norwegian Exports 2025: Where to Compete Now
At Arendalsuka 2025, Innovation Norway and Export Finance Norway convened a high-profile debate “Where in the world should we export now?” to ask how Norwegian companies can grow abroad amid trade wars, geopolitical tension, and shifting supply chains. The session took place in the DN tent on Wednesday, 13 August, and was streamed live.
On stage were leaders from government, finance, and industry: Trade and Industry Minister Cecilie Myrseth; MP Mahmoud Farahmand (H); Kjerstin Braathen (CEO, DNB); Stian Jenssen (Aker ASA); Tove Andersen (CEO, TOMRA); Lasse Kristoffersen (CEO, Wallenius Wilhelmsen); Håkon Haugli (CEO, Innovasjon Norge); and Tone Lunde Bakker (CEO, Eksfin). Their shared brief: identify trustworthy markets, near-term opportunities, and the kinds of products and services where Norway can compete—profitably and sustainably.
Backdrop: Ambition to lift non-oil exports by 50% by 2030
Since 2021, the Norwegian government’s “Hele Norge eksporterer” (export) -reform has set an ambition to lift non-oil exports by 50% by 2030 - a push that has only grown more urgent as global conditions have become less predictable. Meanwhile, 2024 marked a record year for mainland (non-oil and gas) exports, underscoring both momentum and the distance to EU peers in export intensity, as Norway export less as a share of GDP than the EU average as put forth in a report by Menon Economics in 2025.
While Europe remains Norway’s anchor market, taking roughly half of non-oil exports, the conversation emphasized identifying reliable, rules-based jurisdictions globally and pairing them with Norway’s comparative advantages. That means focusing on segments where Norwegian technology, sustainability standards, and maritime/industrial expertise command a premium.
What industry leaders said
TOMRA (Tove Andersen, CEO). Roughly 25% of TOMRA’s revenue comes from the United States, and about 15% of total revenue depends on imports into the U.S. That makes tariff volatility a real business risk. Customers are postponing orders because they don’t know what duty rate will apply. To cope, TOMRA is investing in flexibility and resilience - including distributed manufacturing across Asia and Europe - so the company can pivot as trade rules change.
Wallenius Wilhelmsen (Lasse Kristoffersen, CEO). The company sees market access in the U.S. as increasingly complex, affecting both the carrier and its customers. Close coordination with Norwegian authorities helps, he said, noting the firm’s substantial footprint in America: “We may be Norway’s second-largest employer in the U.S.” The message: exporters must budget for administrative friction in otherwise attractive markets.
AKER (Stian Jenssen). Aker outlined “Stargate Norge,” a plan together with UK-based Nscale to build an AI center in Narvik. With OpenAI on the customer side and NVIDIA supplying compute, Aker argues Northern Norway offers the right mix of power prices, skilled talent, and cooling climate. The ambition: turn this into a new industrial chapter for Norway.
What finance and policy emphasized
DNB (Kjerstin Braathen, Group CEO). Even if Norway’s macro picture looks solid, complacency is the enemy. Long-run competitiveness requires leadership in innovation and technology, areas where Norway must raise its game, echoing themes from NHO’s competitiveness work.
Eksfin – Export Finance Norway (Tone Lunde Bakker, CEO). Public–private teaming is essential when entering riskier or rules-heavy markets. Eksfin brings expertise, relationships, and capital, with a mandate near NOK 200 billion, to finance exporters or their buyers. That can be the difference between a stalled order and a signed contract.
Innovation Norway (Håkon Haugli, CEO). Collaboration is Norway’s superpower. The trust that characterizes Norwegian business culture, companies, the foreign service, the policy toolbox, and chambers of commerce working together, is a competitive asset. With offices in 24 markets, Innovation Norway’s message was simple: when we succeed, we succeed together.
The panel debate can be seen in its entirety here.