Current business situation
Norway owes its success to its massive petroleum wealth, combined with prudent fiscal management and strong policy response to curb the effects of the global financial crisis. Major companies include Statoil, DNB, Norsk Hydro, Yara International and Telenor.
Norway has a very open economy and the Norwegian prosperity and high level of employment are dependent on trade with other countries. Today Norway export goods and services such as fish and fish products, oil, metals and maritime services, to all corners of the world.
Generally speaking Norwegian business culture is similar to that of Australia. There are some differences and the following will assist in developing good relationships:
- Appointments should be set up well in advance.
- Be punctual and even if you are only a few minutes late for a business meeting, call and explain the delay.
- Shake hands with everyone in the room when you arrive and before you leave.
- Exchange of business cards follows after an initial small talk.
- Norwegians generally address each other rather informally.
Setting up in Market
Nortrade, Norway’s trade and investment body has information for those considering setting up a business.
Banking and finance
Olso is the financial centre of Norway. Major Norwegian banks include DNB ASA, Landkreditt and SpareBank 1.
Links and resources
Government, business and trade
Ministry of Foreign Affairs
Ministry of Industry and Trade
News and media
Aftenposten (Norwegian only)
Dagbaldet (Norwegian only)
Please note: This list of websites and resources is not definitive. Inclusion in this list does not imply endorsement by Austrade. The information provided is a guide only. The content is for information and carries no warranty; as such, the addressee must exercise their own discretion in its use. Australia’s anti-bribery laws apply overseas and Austrade will not provide business related services to any party who breaches the law and will report credible evidence of any breach. For further information, please see foreign bribery information and awareness pack.