Norway A. Definitions and sources of data Data on stocks and flows of foreign direct investment (FDI) in Norway are compiled by Norges Bank (Central Bank of Norway). FDI is defined as a cross-border investment made by an investor with a view to establishing a lasting financial interest in an enterprise and exerting a degree of influence on that enterprise’s operations and where the foreign investor holds an interest of at least 10 per cent in equity capital. Flow data are compiled for balance-of-payments purposes and published, on a quarterly basis, by Norges Bank (http://www.norges-bank.no). Annual stock data, with a breakdown by region and by sector of economic activity, are also published on the Bank’s website. Data on the inward and outward flows of FDI are compiled through an international transactions reporting system (monthly data) and annual enterprise surveys (annual data). Reinvested earnings are based on estimates. They do not include trade credits and financial leases. The directional principle is not applied. FDI flow data, broken down by region and economy, are reported from 1986 onwards, however, due to a change in regional classification in 1993, there is a break in time series. Flow data by industry and sector of economic activity are available from 1994 and are based on the economic activity of the resident direct investment enterprise (inflows) and the direct investor (outflows), respectively. Norges Bank collects FDI stock data, at book values, through an annual company survey that covers approximately 3,000 enterprises in which a non-resident investor holds 10 per cent or more of ownership capital. Inward and outward stock data are available from 1987 onwards, with a breakdown by region and by industry. From 1990, outward stock data refer to directly and indirectly owned companies. Short-term intra-company loans and trade credits are included in inward stock data from 1991 onwards and in outward stock data since 1994. The directional principle is not applied. The regional classification according to the ultimate beneficial owner for inward stock data was applied since 1991. As from 1998, the Standard Industrial Classification (SIC94) was introduced, which was derived from the General Industrial Classification of Economic Activities in the European Communities (NACE) Rev.1 and the United Nations International Standard Industrial Classification of All Economic Activities (ISIC) Rev.3. However, data have not been revised backwards according to the new classification. Data are reported according to the economic activity of the Norwegian parent company (outward stock) and of the foreign affiliate in Norway (inward stock), respectively. Norges Bank estimates the number of foreign affiliates in the domestic economy, in 2000, at 3,100 and the number of transnational corporations (TNCs), in 1998, at 900. In addition, Statistics Norway compiles data on the number and industrial distribution (NACE Rev.1) of non-financial foreign-owned joint stock companies, within the framework of the Norwegian Register of Company Accounts. However, only aggregated data on assets, value added and wages and salaries were provided by Statistics Norway. No further information were provided on the activities of Norwegian TNCs, their affiliates abroad nor foreign affiliates in Norway.

Posting date: 19 September 2005

B. Statistics on FDI and the operations of TNCs

Page 3 of 33

UNCTAD WID Country Profile: NORWAY

Table 1. Summary of FDI (Millions of kroner)

Variable

Inward

1. FDI flows, 2001-2004 (annual average) 2. FDI flows as a percentage of GFCF, 2001-2004 (annual average) 3. FDI stocks, 2004 4. FDI stocks as a percentage of GDP, 2004

Outward

16 737.5

12 543.3

6.0

4.7

308 802

435 539

20.4

28.8

Sources : Based on tables 3a and 4; UNCTAD, FDI/TNC database. a 2000.

Table 2. Summary of international production (Number and millions of kroner)

Variable

1. Number, 1997 2. Assets, 1998 3. Employment, 1996 4. Sales, 1996 5. Value added, 1998 6. Wages and salaries, 1998

Affiliates of foreign TNCs in Norway

Homebased TNCs a

900 .. .. .. .. ..

Foreign affiliates of home-based TNCs abroad

5 105b 670 068 41 237 75 876 221 184 72 940

.. .. .. .. .. ..

Source: Based on tables 22a, 30, 34, 39 and 45a and estimates provided by Norges Bank (number of TNCs). a 1998. b Refers to Norwegian non-financial joint stock companies with foreign shareholders owning more than 10 per cent of total shares in 1998.

Page 4 of 33

UNCTAD WID Country Profile: NORWAY Table 3a. FDI flows, by type of investment, 1989-2004

(Millions of Norwegian kroner)

Inward investment Year 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

Equity .. .. .. .. .. 937 3 427 15 733 20 510 4 755 42 915 64 834 11 643 7 541 9 760 -16 950

Reinvested earnings .. .. .. .. .. 4 073 4 820 7 317 10 008 4 253 1 088 5 998 -3 434 -3 134 7 225 7 225

Other .. .. .. .. .. 14 144 5 888 -2 381 563 20 364 11 056 -10 067 11 864 1 002 9 929 24 279

Outward investment Total 10 189 7 364 - 317 5 023 10 363 19 154 14 135 20 669 31 081 29 372 55 059 60 765 20 073 5 409 26 914 14 554

Equity .. .. .. .. .. 8 354 12 194 24 772 14 255 11 792 17 093 72 518 903 40 495 15 831 19 215

Reinvested earnings .. .. .. .. .. 3 045 4 976 6 469 8 043 858 2 100 2 700 2 700 2 700 2 700 2 700

Source: Norges Bank (Central Bank of Norway). Note: Due to rounding, the sum of the individual items might not necessarily add up to the total.

Other .. .. .. .. .. 3 407 2 720 6 972 15 605 4 750 23 798 -8 242 -14 190 -10 161 -3 386 -9 334

Total 7 972 8 959 11 824 2 450 6 619 14 806 19 890 38 213 37 903 17 400 42 991 66 976 -10 587 33 034 15 145 12 581

Page 5 of 33

UNCTAD WID Country Profile: NORWAY

Table 3b. FDI flows, by type of investment, 1975-2003 (Millions of dollars)

Inward investment Year 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003

Equity 81 - 25 125 88 - 5 62 22 100 65 136 111 275 640 87 845 356 689 424 1 761 139 475 2 468 2 861 552 5 285 7 169 1 291 784 1 245

Reinvested earnings - 1 389 - 1 030 578 805 1 135 905 1 021 1 371 - 372 - 300 - 434 - 487

Other 138 396 643 402 407 - 2 650 342 263 - 316 - 538 742 - 453 192 674 647 - 1 086 297 260 2 019 1 113 - 423 120 2 781 1 400 - 991 1 118 152 1 297

Outward investment Total 220 371 768 490 401 60 672 442 328 - 180 - 426 1 017 187 279 1 519 1 003 - 398 - 668 992 2 736 2 393 3 179 3 886 4 354 8 056 5 806 2 109 502 2 055

Equity 17 87 92 9 32 35 151 80 159 141 462 552 396 769 1 174 700 1 371 115 954 1 020 1 931 3 758 2 012 1 388 1 995 8 237 601 4 204 1 892

Source: International Monetary Fund, balance-of-payments tapes, March 05.

Note : Due to rounding, the components may not add up to the total.

Reinvested earnings - 511 - 207 431 632 952 777 1 080 1 060 887 701 342 383

Other 155 106 33 57 11 218 22 226 197 460 842 1 048 477 209 184 771 411 276 - 29 714 296 1 176 2 214 731 2 962 - 613 - 2 161 - 696 35

Total 172 193 125 66 44 253 173 306 355 601 1 304 1 600 873 978 1 358 1 470 1 782 - 120 718 2 166 2 859 5 886 5 003 3 200 6 018 8 511 - 859 3 850 2 310

Page 6 of 33

UNCTAD WID Country Profile: NORWAY

Table 4. FDI stocks, by type of investment, 1988-2004 (Millions of Norwegian kroner)

Inward investment

Year 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

Equity 41 800 39 700 41 500 47 400 60 200 59 300 55 000 60 700 74 700 100 300 119 500 154 200 184 200 210 900 216 800 234 300 ..

IntraReinvested company earnings loans 2 100 1 700 4 000 4 200 -8 700 -7 300 4 000 4 800 7 300 10 000 4 300 1 100 5 800 -3 400 -3 200 7 200 ..

13 000 22 700 27 700 43 200 43 000 50 400 51 100 53 300 53 300 54 200 70 900 81 300 77 800 86 900 84 400 85 600 ..

Outward investment

Total 56 900 64 100 73 200 94 800 94 500 102 400 110 100 118 800 135 300 164 500 194 700 236600 267800 294400 298 000 327 100 308 802

Equity 17 300 22 800 50 800 62 500 72 700 85 500 98 000 125 800 142 000 174 600 210 434 265 322 315 376 411 401 .. .. ..

IntraReinvested company earnings loans -1 100 800 1 000 -1 600 -2 900 - 800 3 000 5 000 6 500 8 000 1 300 3 844 11 851 17 364 .. .. ..

Source: Norges Bank, Economic Bulletin, various issues. Note: Due to rounding, the sum of the individual items might not necessarily add up to the total.

9 900 10 100 12 500 11 700 11 900 10 100 18 900 11 500 15 400 22 000 29 761 45 999 45 743 42 971 .. .. ..

Total 26 100 33 700 64 300 72 600 81 700 94 800 119 900 142 300 163 900 204 600 240 195 334 354 387 501 481 297 474 390 469 222 435 539

Page 7 of 33

UNCTAD WID Country Profile: NORWAY Table 5. FDI flows in the host economy, by industry, 1990-2003 (Millions of Norwegian kroner) Sector/industry Total Primary Mining, quarrying and petroleum Secondary Tertiary Trade

1990 7 364 ..

1991 - 317 ..

1992 5 023 ..

1993 10 363 ..

1994 19 154 12 907

1995 14 135 46

1996 20 669 11 356

1997 31 081 - 3 991

1998 29 372 7 044

1999 2000 55 059 60 765 4 697 - 19 698

2001 18 055 7 767

2002 5 422 7 688

2003 16 460 1 229

.. .. .. ..

.. .. .. ..

.. .. .. ..

.. .. .. ..

12 907 1 226 428 77

46 4 973 10 773 1 859

11 356 540 650 - 136

- 3 991 18 144 2 552 1 887

7 044 2 314 13 295 5 680

4 697 - 19 698 11 270 14 030 34 178 55 937 4 362 7 512

7 767 3 672 12 251 8 397

7 688 - 2 167 3 945 - 953

1 229 4 190 13 816 - 2 168

6 406 11 546 11 864 4 914

1 472 834 1 548 - 5 635

2 078 1 187 1 633 - 4 044

8 292 336 7 356 - 2 775

Transport, storage and communications .. .. .. .. 115 - 8 1 749 3 074 1 884 Finance .. .. .. .. - 65 5 316 - 6 296 23 654 Business activities .. .. .. .. 301 3 606 5 333 - 2 432 5 077 Unspecified 7 364 - 317 5 023 10 363 4 593 - 1 657 8 123 14 376 6 719 Source: Norges Bank (Central Bank of Norway) Notes: Trade includes hotels and restaurants. Data cover only equity and intra-company loans; reinvested earnings, are recorded under 'unspecified'.

7 489 24 205 16 731 10 496

which cannot be allocated by sector,

Page 8 of 33

UNCTAD WID Country Profile: NORWAY Table 6. FDI flows in the host economy, by geographical origin, 1990-2003 (Millions of Kroners) Country / economy Total world Developed countries Western Europe European Union Belgium / Luxembourg Denmark Finland France Germany Ireland Italy Netherlands Spain Sweden United Kingdom Other Western Europe Switzerland North America Canada United States Other developed countries Japan Developing economies Latin America and the Caribbean Unspecified

1990 7 364 7 037 8 678 7 179 -5 - 189 1 597 2 395 365 175 507 10 2 740 - 414 1 499 1 499 -2 659 13 -2 672 1 018 1 018 327

1991 - 317 - 290 - 217 -1 910 293 357 1 127 - 701 408 11 76 - 268 -6 3 630 -6 837 1 693 1 693 - 815 9 - 824 742 742 - 27

1992 5 023 4 912 -2 297 -2 865 - 25 374 - 495 -1 200 247 25 283 36 - 161 -1 949 568 568 6 414 19 6 395 795 795 111

1993 10 363 9 855 -1 355 431 - 105 232 117 548 - 141 75 284 5 - 695 111 -1 786 -1 786 14 658 14 658 -3 448 -3 448 508

1994 19 154 14 929 11 464 11 187 1 571 - 94 - 530 6 492 3 465 3 465 152 - 526 4 073

1995 14 135 9 347 9 265 5 856 290 252 4 326 -4 407 82 82 - 32 361 4 820

1996 20 669 12 320 1 432 6 823 - 202 - 345 2 394 45 10 888 10 888 1 032 825 7 317

1997 31 081 24 625 24 299 23 481 564 198 927 2 454 326 326 -3 552 -3 256 10 008

1998 29 372 28 028 29 010 27 075 3 772 524 2 494 5 044 - 982 - 982 -2 909 -2 235 4 253

1999 55 059 47 844 49 818 49 588 7 790 617 19 900 12 730 -1 974 -1 974 6 127 1 197 1 088

2000 60 765 44 047 48 449 45 412 -2 447 451 29 272 -2 550 -4 402 -4 402 10 720 6 956 5 998

2001 18 055 17 345 16 276 16 807 2 739 -1 062 1 739 3 437 1 069 1 069 4 144 4 267 -3 434

2002 5 422 2 727 2 062 3 245 254 - 199 1 374 2 033 665 665 5 829 6 471 -3 134

2003 16 460 12 078 10 126 10 198 8 721 - 619 932 1 969 1 952 1 952 7 516 8 177 -3 134

Source: Norges Bank (Central Bank of Norway). Notes: Data cover only equity and intra-company loans; reinvested earnings, which cannot be allocated by source, are recorded under 'unspecified'. Other Western Europe refers to other countries in Europe, except the EU. From 1994, Latin America and the Caribbean includes Canada; data for Australia, Japan and New Zealand are included in 'unspecified developing countries'.

UNCTAD WID Country Profile: NORWAY

Page 9 of 33

Table 8. FDI flows abroad, by industry, 1990-2003 (Millions of Norwegian kroner) Sector/industry 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 Total 8 959 11 824 2 450 6 619 14 806 19 890 38 213 37 903 17 400 42 991 66 976 - 11 862 32 380 Primary .. .. .. .. 2 217 2 458 9 331 11 558 3 338 3 939 - 11 903 6 937 - 5 226 Mining, quarrying and petroleum .. .. .. .. 2 217 2 458 9 331 11 558 3 338 3 939 - 11 903 6 937 - 5 226 Secondary .. .. .. .. 2 523 7 893 11 951 6 450 1 784 11 462 24 145 12 370 18 473 Tertiary .. .. .. .. 3 763 13 159 6 277 11 180 10 420 19 247 48 079 - 32 958 13 118 Trade .. .. .. .. 1 440 1 172 1 701 612 962 1 799 366 828 119 Transport, storage and communications .. .. .. .. 1 517 1 511 265 1 767 2 053 3 133 36 134 - 23 642 12 117 Finance .. .. .. .. 775 990 - 91 1 026 399 7 662 - 1 647 576 3 589 Business activities .. .. .. .. 31 9 486 4 402 7 775 7 006 6 653 13 226 - 10 720 - 2 707 Unspecified 8 959 11 824 2 450 6 619 6 303 - 3 620 10 654 8 715 1 858 8 343 6 655 1 789 6 015 Source: Norges Bank (Central Bank of Norway). Notes: Trade includes hotels and restaurants. Data cover only equity and intra-company loans; reinvested earnings, which cannot be allocated by sector, are recorded under 'unspecified'.

2003 15 131 8 683 8 683 - 1 023 3 554 - 41 1 636 1 604 355 3 917

Page 10 of 33

UNCTAD WID Country Profile: NORWAY Table 9. FDI flows abroad, by geographical origin, 1990-2003 (Millions of Kroners) Country / economy Total world Developed countries Western Europe European Union Austria Belgium / Luxembourg Denmark Finland France Germany Ireland Italy Netherlands Portugal Spain Sweden United Kingdom Other Western Europe Switzerland North America Canada United States Other developed countries Australia Developing economies Africa Latin America and the Caribbean Asia South, East and South-East Asia Hong Kong, China Singapore Unspecified developing countries Unspecified

1990 8 959 9 573 7 106 7 096 664 - 185 3 356 114 1 284 630 65 - 27 1 468 33 -3 082 928 1 848 10 10 2 380 2 380 87 87 604 401 192 11 11 - 44 55 -1 218

1991 11 824 12 166 10 370 10 294 196 111 2 341 831 68 836 4 - 31 - 407 96 29 5 068 1 152 76 76 1 791 1 791 5 5 231 74 245 - 88 - 88 - 96 8 - 573

1992 2 450 2 292 2 097 2 051 - 38 866 1 260 366 - 14 525 275 63 - 134 7 418 - 929 - 614 46 46 150 150 45 45 - 168 - 86 - 200 118 118 3 115 326

1993 6 619 6 320 4 698 4 745 - 11 - 150 843 174 775 218 93 52 - 45 -1 21 1 228 1 548 - 47 - 47 1 593 618 975 29 29 1 386 252 637 142 142 85 57 355 -1 087

1994 14 806 8 713 4 021 3 603 2 929 478 781 -1 066 4 692 4 692 3 048 1 646 1 402 3 045

1995 19 890 12 916 12 053 12 362 189 38 6 203 3 606 863 863 1 998 506 1 492 4 976

1996 38 213 29 409 29 095 28 328 - 190 151 8 068 17 920 314 314 2 335 3 048 - 713 6 469

1997 37 903 25 196 16 562 14 897 1 116 467 6 231 2 292 8 634 8 634 4 664 3 751 913 8 043

1998 17 400 13 879 9 238 3 880 1 328 -2 418 3 679 -3 058 4 641 4 641 2 663 323 2 340 858

1999 42 991 31 947 29 712 21 737 88 2 713 9 233 1 034 2 235 2 235 8 944 2 652 6 292 2 100

2000 66 976 29 794 35 480 34 326 17 869 8 477 4 880 -3 712 -5 686 -5 686 34 482 69 34 413 2 700

2001 -11 862 -20 302 -18 702 -17 368 3 439 -17 810 4 731 3 069 -1 600 -1 600 5 740 2 900 2 840 2 700

2002 2003 32 380 15 131 34 331 - 241 30 944 -3 108 24 431 -3 949 413 804 19 141 -2 897 8 100 - 763 436 3 875 3 387 2 867 3 387 2 867 -4 651 12 672 -5 573 2 562 922 10 110 2 700 2 700

Source: Norges Bank (Central Bank of Norway). Notes: Data cover only equity and intra-company loans; reinvested earnings, which cannot be allocated by destination, are recorded under 'unspecified'. Other Western Europe refers to other countries in Europe, except the EU. From 1994, Latin America and the Caribbean includes Canada; data for Australia, Japan and New Zealand are included in 'unspecified developing countries'. South Africa is included in Africa.

Page 11 of 33

UNCTAD WID Country Profile: NORWAY Table 11. FDI stocks in the host economy, by industry, 1990-2003 (Millions of Kroners) Sector / industry Total Primary Mining, quarrying and petroleum Secondary Unspecified secondary Tertiary Construction Trade Hotels and restaurants Transport, storage and communications Finance Business activities Unspecified

1990 73 200

1991 94 800

1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 94 500 102 400 110 100 118 800 135 300 164 500 194 700 236 600 267 800 294 400 298 000

41 800 41 800 5 600 5 600 24 700 900 9 100 .. 600 14 100 .. 1 100

44 700 44 700 7 900 7 900 40 800 2 300 14 100 .. 1 700 22 700 .. 1 400

42 200 42 200 8 900 8 900 42 700 1 900 14 500 .. 2 000 24 300 .. 700

45 100 45 100 9 300 9 300 47 400 2 300 16 300 .. 2 900 25 900 .. 600

57 200 57 200 10 100 10 100 42 300 1 300 16 300 .. 1 300 23 400 .. 500

59 200 59 200 12 000 12 000 47 100 1 900 17 800 .. 1 600 25 800 .. 500

Source: Norges Bank (Central Bank of Norway). Notes: Hotels and restaurants are inclueded int trade. Business activities are included with finance .

72 500 72 500 13 600 13 600 48 300 1 200 19 000 .. 2 700 25 400 .. 900

72 500 72 500 31 400 31 400 58 400 3 200 20 100 .. 4 500 30 600 .. 2 200

87 800 87 800 39 400 39 400 62 300 2 500 24 500 .. 5 500 29 800 .. 5 200

96 900 72 000 80 900 83 300 96 900 72 000 80 900 83 300 42 900 58 000 56 800 64 100 42 900 58 000 56 800 64 100 88 500 128 500 140 700 134 100 2 700 5 900 4 600 4 300 28 100 35 700 42 400 37 200 .. .. .. .. 8 800 17 700 21 100 19 700 48 900 69 200 72 600 72 900 .. .. .. .. 8 300 9 300 16 000 16 500

Page 12 of 33

UNCTAD WID Country Profile: NORWAY Table 12. FDI stocks in the host economy, by geographical origin, 1990-2003 (Millions of Kroners) Country / economy Total world Developed countries Western Europe European Union Denmark Finland France Germany Netherlands Sweden United Kingdom Other Western Europe Switzerland North America United States Other developed countries Japan Unspecified

1990 73 200 71 700 35 100 30 800 1 600 2 400 7 300 3 300 3 600 12 500 - 300 4 300 4 300 33 300 33 300 3 300 3 300 1 500

1991 94 800 89 700 61 300 52 100 2 300 2 800 10 900 4 200 5 000 19 500 5 100 9 200 9 200 24 500 24 500 3 900 3 900 5 100

1992 1993 1994 1995 1996 1997 94 500 102 400 110 100 118 800 135 300 164 500 86 700 90 100 98 700 109 400 125 400 155 400 58 500 61 100 66 000 74 300 78 300 110 400 46 200 50 000 56 100 64 700 72 000 103 700 3 100 4 200 5 500 6 400 6 500 7 100 2 600 2 400 2 400 2 600 4 700 4 600 7 700 8 100 8 000 8 100 11 200 10 300 3 700 3 800 4 100 4 600 4 800 4 800 6 000 6 600 5 100 10 300 9 200 35 300 17 000 17 900 14 600 19 400 19 700 23 100 4 000 5 500 13 300 6 700 9 000 11 400 12 300 11 100 9 900 9 600 6 300 6 700 12 300 11 100 9 900 9 600 6 300 6 700 23 300 24 100 27 900 30 300 42 400 41 000 23 300 24 100 27 900 30 300 42 400 41 000 4 900 4 900 4 800 4 800 4 700 4 000 4 900 4 900 4 800 4 800 4 700 4 000 7 800 12 300 11 400 9 400 9 900 9 100

Source: Norges Bank (Central Bank of Norway). Note: Since 1991, the classification according to the ultimate beneficial owner was applied.

1998 194 700 187 900 139 400 132 700 9 300 6 900 11 600 5 600 49 000 25 700 17 300 6 700 6 700 45 000 45 000 3 500 3 500 6 800

1999 236 600 224 300 178 900 171 900 23 600 10 000 14 100 6 700 52 700 40 100 16 300 7 000 7 000 41 000 41 000 4 400 4 400 12 300

2000 267 800 248 200 211 600 206 500 30 700 30 100 11 400 6 300 53 500 43 700 24 800 5 100 5 100 32 400 32 400 4 200 4 200 19 600

2001 294 400 267 100 234 900 225 300 34 300 29 100 14 500 5 400 52 100 55 100 24 800 9 600 9 600 28 200 28 200 4 000 4 000 27 300

2002 298 000 270 800 232 800 220 400 28 900 28 100 20 400 5 700 47 500 52 100 30 100 12 400 12 400 34 600 34 600 3 400 3 400 27 200

2003 327 100 293 800 257 900 246 600 43 400 8 100 18 600 6 000 5 500 74 000 29 500 11 300 11 300 33 300 33 300 2 600 2 600 33 300

Page 13 of 33

UNCTAD WID Country Profile: NORWAY Table 14. FDI stocks abroad, by industry, 1990-2001 (Millions of Kroners) Sector / industry Total Primary Agriculture, hunting, forestry and fishing Mining, quarrying and petroleum Mining and quarrying Extraction of crude petroleum and natural gas Secondary Tertiary Electricity, gas and water Construction Trade Hotels and restaurants Transport, storage and communications Transport and storage Water transport Finance Business activities Other services Unspecified

1990 64 300

1991 72 600

1992 81 700

1993 1994 1995 1996 94 800 119 900 142 300 163 900

1997 204 600

1998 240 195

1999 315 165

2000 2001 372 970 471 736

15 100 15 100 -

25 100 25 100 -

27 800 27 800 -

34 800 34 800 -

43 200 43 200 -

51 900 51 900 -

61 500 61 500 -

75 400 75 400 -

87 570 227 87 343 ..

86 639 193 86 446 ..

96 725 100 310 1 460 1 567 95 265 98 743 .. ..

26 200 20 100 4 500 .. 3 300 12 300 .. 2 900

19 100 24 900 6 500 .. 3 700 14 700 .. 3 500

21 800 30 400 6 200 .. 4 200 20 000 .. 1 700

24 200 34 100 5 800 .. 5 500 22 800 .. 1 700

33 300 41 500 9 800 .. 6 000 25 700 .. 1 900

37 600 50 500 9 300 .. 5 800 35 400 .. 2 300

41 100 56 200 8 000 .. 6 900 41 300 .. 5 100

45 300 74 100 10 900 .. 9 900 53 300 .. 9 800

87 343 88 840 59 868 .. 644 9 341 .. 11 407 8 826 8 826 2 175 36 064 237 3 917

86 446 87 946 137 125 .. 5 462 13 907 .. 28 269 22 184 22 184 8 962 80 127 398 3 455

95 265 98 743 106 130 184 750 166 271 184 800 .. .. 13 043 13 905 14 294 18 570 .. .. 48 105 66 304 26 515 29 386 26 515 29 386 4 878 11 735 85 569 73 523 382 763 3 844 1 876

Source: Norges Bank (Central Bank of Norway). Notes: Hotels and restaurants are inclueded int trade. Business activities are included with finance . Manufacturing includes mining and quarrying. Electricity, gas and water are included with construction.

Page 14 of 33

UNCTAD WID Country Profile: NORWAY Table 15. FDI stocks abroad, by geographical destination, 1990-2001 (Millions of Kroners) Country / economy Total world Developed countries Western Europe European Union Austria Belgium / Luxembourg Belgium Denmark Finland France Germany Ireland Italy Netherlands Portugal Spain Sweden United Kingdom Other Western Europe Switzerland North America Canada United States Other developed countries Australia New Zealand Developing economies Africa Other Africa Liberia Latin America and the Caribbean South America Argentina Brazil Chile Other Latin America and Caribbean Bermuda Cayman Islands Mexico Asia South, East and South-East Asia Malaysia Singapore Thailand The Pacific Central and Eastern Europe Baltic countries Czech Republic Poland Russian Federation Unspecified

1990 64 300 58 700 48 200 48 000 1 200 1 200 11 300 200 4 700 1 300 8 400 9 000 8 800 200 10 500 10 500 5 600 400 4 000 -

1991 72 600 65 400 53 700 53 500 1 700 1 700 12 600 1 400 4 300 2 800 8 500 9 700 9 300 200 11 700 11 700 7 200 500 5 200 -

1992 81 700 73 300 60 800 60 500 3 100 3 100 12 800 1 400 4 500 7 900 8 100 11 000 8 200 300 12 500 12 500 8 400 800 5 300 -

1 000 200 -

1 200 300 -

2 000 300 -

1993 1994 1995 94 800 119 900 142 300 83 500 106 800 126 800 69 800 90 100 106 600 69 400 89 300 105 300 3 200 4 400 4 000 3 200 4 400 4 000 14 800 26 700 29 700 1 900 4 900 5 700 4 300 4 800 7 100 7 800 8 700 7 800 8 500 8 400 12 000 14 600 15 100 19 700 11 200 10 700 12 000 400 800 1 300 13 700 16 700 20 200 13 700 16 700 20 200 11 300 13 100 15 500 1 600 1 600 1 600 6 000 7 100 8 500 3 100 600 -

3 500 900 -

4 600 800 -

1996 163 900 149 600 126 200 124 000 6 800 6 800 27 900 6 400 8 000 6 800 14 300 23 800 19 000 2 200 23 400 23 400 14 300 1 000 8 100 -

1997 204 600 187 100 147 600 143 900 9 200 9 200 30 700 5 800 9 300 7 700 19 800 29 200 20 800 3 700 39 500 39 500 17 500 1 200 10 300 -

1998 240 195 222 148 171 917 170 524 2 391 11 480 .. 35 716 6 956 9 524 8 349 4 710 945 21 994 2 930 884 38 792 25 500 1 393 1 258 49 332 3 612 45 720 899 700 199 14 660 1 124 507 507 6 085 2 663 534 1 283 626

1999 315 165 286 802 236 656 234 987 2 610 14 871 .. 34 408 6 124 9 597 11 937 2 951 264 20 833 2 613 851 50 530 77 030 1 669 1 612 49 145 2 401 46 744 1 001 812 189 22 007 5 872 5 110 5 110 8 267 3 100 869 1 420 654

2000 372 970 315 183 260 732 257 208 1 251 24 786 .. 37 191 7 499 9 407 10 473 3 310 1 229 22 488 3 258 986 51 624 82 842 3 524 2 692 53 153 3 545 49 608 1 298 1 122 176 49 783 4 309 5 712 5 712 22 726 14 743 1 216 8 650 4 487

2001 471 736 392 645 287 587 278 789 3 532 19 172 .. 39 615 9 211 9 115 23 292 4 728 1 146 32 054 8 327 1 547 53 520 72 926 8 798 7 898 93 706 37 293 56 413 11 352 9 905 1 447 66 403 6 717 5 741 5 741 28 846 13 856 1 276 7 427 4 728

4 400 800 -

4 900 1 100 -

3 422 1 384 819 10 7 451 7 451 169 2 655 1 070 2 163 788 1 488 - 113 1 224

5 167 1 847 538 1 408 7 868 7 868 617 1 547 1 234 5 810 2 264 663 1 921 962 546

7 983 3 926 502 1 429 22 748 22 748 1 948 12 225 3 308 7 097 2 156 886 2 455 1 600 907

14 990 4 499 8 217 114 30 840 30 840 2 895 19 760 2 388 11 000 2 848 1 127 5 461 1 564 1 688

Source: Norges Bank (Central Bank of Norway). Notes: Prior to 1998 Other Western Europe refers to other countries in Europe, except the EU. South Africa is included in Africa. Latin America and the Caribbean includes Canada. Japan is included in Asia. Australia and New Zealand are included in the Pacific.

Page 15 of 33

UNCTAD WID Country Profile: NORWAY

Table 22a. The number of affiliates of foreign TNCs in the host economy, by industry, 1995-1998 Sector/industry Total Primary Agriculture, hunting, forestry and fishing Mining, quarrying and petroleum Mining and quarrying Petroleum Tertiary Electricity, gas and water Construction Trade Hotels and restaurants Transport, storage and communications Transport and storage Unspecified transport and storage Supporting and auxilary transport activities Post and communications Business activities Health and social services Other services Unspecified

1995 4 258 600 29 571 519 52 3 282 7 95 1 860 44 285 270 181 89 15 214 60 717 376

1996 4 863 744 33 711 639 72 3 716 10 104 2 042 48 353 337 206 131 16 268 80 811 403

1997 4 776 742 28 714 618 96 3 803 9 128 2 086 43 375 350 203 147 25 239 68 855 231

1998 5 105 753 21 732 635 97 4 072 18 139 2 158 44 393 360 215 145 33 249 85 986 280

Source : Statistics Norway, Accounting Statistics, various years Note: Data are derived from the Norwegian Register of Company Accounts and refer to Norwegiannon-financial joint stock companies with at least one foreign shareholder owning 10 per cent or more of total shares.

Page 16 of 33

UNCTAD WID Country Profile: NORWAY

Table 22b. The number of affiliates of foreign TNCs in the host economy, by industry, 1992-1996 (Number of establishments) Sector/industry Total Primary Mining, quarrying and petroleum Mining and quarrying Secondary Food, beverages and tobacco Textiles, clothing and leather Wood and wood products Manufacture of wood products, cork, straw and plaiting materials Paper and paper products Unspecified wood and wood products Coke, petroleum products and nuclear fuel Chemicals and chemical products Manufacture of other chemical products Unspecified chemicals and chemical products Rubber and plastic products Non-metallic mineral products Metal and metal products Basic metals Fabricated metal products Machinery and equipment Electrical and electronic equipment Office, accounting and computing machinery Radio, television and communication apparatus Unspecified electrical and electronic equipment Precision instruments Motor vehicles and other transport equipment Motor vehicles, trailers and semi-trailers Other transport equipment Building and repairing of ships and boats Unspecified other transport equipment Other manufacturing Unspecified secondary

1992 199 6 6 6 193 19 5 26

1993 214 8 8 8 206 19 5 27

1994 241 9 9 9 232 23 5 30

1995 359 11 11 11 348 39 6 51

1996 535 19 19 19 516 44 10 75

26 5 12 12 14 18 20 9 11 24 18 5 13 5 21 2 19 16 3 6 -

27 11 13 13 15 18 20 8 12 25 20 7 13 7 22 2 20 17 3 4 -

4 26 12 18 3 15 19 22 24 9 15 26 21 6 15 6 20 2 18 15 3 6 -

4 47 11 26 26 20 35 30 11 19 34 11 85

75 3 36 6 30 27 61 48 16 32 85 59 2 11 46 19 34 4 30 26 4 15 -

Source: OECD, Measuring Globalisation: The Role of Multinationals in OECD Economies, 1999 . Notes: Data refer to majority foreign-ownedestablishments. Crude petroleum and extraction of natural gas are excluded from mining and quarrying. From 1995 onwards, data include establishments indirectly controlled from abroad.

Page 17 of 33

UNCTAD WID Country Profile: NORWAY Table 23. The number of affiliates of foreign TNCs in the host economy, by geographical origin, 1992-1996 (Number of establishments) Region/economy Total world Developed countries Western Europe European Union Belgium France Germany Italy Netherlands Spain Sweden United Kingdom Unspecified European Union Other Western Europe Switzerland North America Canada United States Other developed countries Japan Developing economies Latin America and the Caribbean Unspecified

1992

1993 193 193 174 155 5 2 8 14 1 61 12 52 19 19 18 3 15 1 1 -

1994 206 205 186 167 5 3 11 1 12 1 64 16 54 19 19 19 4 15 1

1996 232 232 206 187 5 5 10 1 14 1 73 17 61 19 19 26 3 23 -

375 367 333 314 5 20 18 22 249 19 19 34 34 3 3 5

Source: OECD, Measuring Globalisation: The Role of Multinationals in OECD Economies, 1999 . Notes: Data refer to majority foreign-owned establishments. They cover the manufacturing sector only and are therefore not comparable to those in table 22b. Data for 1995 are not available.

Page 18 of 33

UNCTAD WID Country Profile: NORWAY

Tables 30, 40 and 50. Assets, value added and wages and salaries of affiliates of foreign TNCs in the host economy, 1995-1998 (Number and millions of Norwegian kroner) Variable Assets Value added Wages and salaries

1995

1996

1997

1998

339 240 149 566 47 437

486 184 118 567 59 688

593 719 223 397 65 985

670 068 221 184 72 940

Source : Statistics Norway, Accounting Statistics, various years.

Note: Data are derived from the Norwegian Register of Company Accounts and refer to Norwegian non-financial joint stock companies with at least one foreign shareholder owning 10 per cent or more of total shares. Value added refers to gross production value less cost of goods and services consumed, excluding VAT (market prices).

Page 19 of 33

UNCTAD WID Country Profile: NORWAY

Table 34. Employment of affiliates of foreign TNCs in the host economy, by industry, 1992-1996 (Number of employees) Sector/industry Total Primary Mining, quarrying and petroleum Mining and quarrying Secondary Food, beverages and tobacco Textiles, clothing and leather Wood and wood products Manufacture of wood products, cork, straw and plaiting materials Paper and paper products Unspecified wood and wood products Coke, petroleum products and nuclear fuel Chemicals and chemical products Manufacture of other chemical products Unspecified chemicals and chemical products Rubber and plastic products Non-metallic mineral products Metal and metal products Basic metals Fabricated metal products Machinery and equipment Electrical and electronic equipment Office, accounting and computing machinery Radio, television and communication apparatus Unspecified electrical and electronic equipment Precision instruments Motor vehicles and other transport equipment Motor vehicles, trailers and semi-trailers Other transport equipment Building and repairing of ships and boats Unspecified other transport equipment Other manufacturing Unspecified secondary

1992 18 425 390 390 390 18 035 1 310 619 1 799

1993 19 816 464 464 464 19 352 1 501 548 1 781

1994 22 121 457 457 457 21 664 1 908 462 1 904

1995 38 044 807 807 807 37 237 6 787 276 3 654

1996 41 237 889 889 889 40 348 6 697 431 3 059

1 799 456 1 333 1 333 1 106 1 207 3 686 2 874 812 1 994 1 906 996 910 240 1 878 1 785 1 385 400 501 -

1 781 478 1 313 1 313 1 096 1 305 3 822 2 704 1 118 1 848 2 403 1 147 1 256 594 2 334 100 2 234 1 826 408 329 -

181 1 723 485 2 303 386 1 917 1 044 1 569 4 076 2 953 1 123 1 943 2 711 1 220 1 491 559 2 381 109 2 272 1 854 418 319 -

190 3 464 478 3 052 3 052 1 353 2 561 4 799 3 135 1 664 2 742 5 298 468 5 769

3 059 392 3 198 737 2 461 1 441 3 326 5 098 3 293 1 805 3 377 6 686 34 1 928 4 724 1 107 4 998 413 4 585 3 913 672 538 -

Source: OECD, Measuring Globalisation: The Role of Multinationals in OECD Economies, 1999 . Notes: Data refer to the number of persons employed (annual average) in majority foreign-owned establishments. Crude petroleum and extraction of natural gas are excluded from mining and quarrying. From 1995 onwards, data include establishments indirectly controlled from abroad.

Page 20 of 33

UNCTAD WID Country Profile: NORWAY Table 35. Employment of affiliates of foreign TNCs in the host economy, by geographical origin, 1992-1996 (Number of employees) Region/economy Total world Developed countries Western Europe European Union Belgium France Germany Italy Netherlands Spain Sweden United Kingdom Unspecified European Union Other Western Europe Switzerland North America Canada United States Other Developed Countries Australia Japan Developing economies Latin America and the Caribbean Unspecified

1992 18 035 17 523 15 082 13 277 247 128 442 1 557 24 5 610 1 589 3 680 1 805 1 805 2 424 745 1 679 17 17 512

1993 19 352 18 850 16 320 14 001 323 163 560 38 1 113 29 6 283 1 998 3 494 2 319 2 319 2 530 778 1 752 502

1994 21 664 21 664 18 452 15 692 416 270 481 39 1 491 29 6 887 1 884 4 195 2 760 2 760 3 212 694 2 518 -

1996 28 824 28 754 25 106 23 130 464 184 2 509 53 1 604 41 12 793 1 293 4 189 1 976 1 976 3 584 622 2 962 64 64 59 59 -

Source: OECD, Measuring Globalisation: The Role of Multinationals in OECD Economies, 1999 . Notes: Data refer to the number of persons employed (annual average) in majority foreign-owned establishments. They cover the manufacturing sector only and are therefore not comparable to those in table 34. Data for 1995 are not available.

Page 21 of 33

UNCTAD WID Country Profile: NORWAY

Table 39. Wages and salaries of affiliates of foreign TNCs in the host economy, by industry, 1992-1996 (Millions of Norwegian kroner) Sector/industry Total Primary Mining, quarrying and petroleum Mining and quarrying Secondary Food, beverages and tobacco Textiles, clothing and leather Wood and wood products Manufacture of wood products, cork, straw and plaiting materials Paper and paper products Coke, petroleum products and nuclear fuel Chemicals and chemical products Manufacture of other chemical products Unspecified chemicals and chemical products Rubber and plastic products Non-metallic mineral products Metal and metal products Basic metals Fabricated metal products Machinery and equipment Electrical and electronic equipment Radio, television and communication apparatus Unspecified electrical and electronic equipment Precision instruments Motor vehicles and other transport equipment Motor vehicles, trailers and semi-trailers Other transport equipment Building and repairing of ships and boats Unspecified other transport equipment Unspecified motor vehicles and other transport equipment Other manufacturing Unspecified secondary

1992 4 967 94 94 94 4 873 308 133 480

1993 5 505 113 113 113 5 392 361 119 441

1994 6 450 115 115 115 6 335 445 119 496

1995 11 725 237 237 237 11 488 1 894 61 1 186

1996 13 377 276 276 276 13 101 1 976 95 984

.. .. 197 390 390 265 306 952 764 188 545 568 319 249 76 536 429 429 107 117 -

.. .. 196 414 414 277 330 1 026 760 266 489 752 366 386 178 735 621 621 114 74 -

43 453 186 838 838 280 423 1 148 839 309 566 866 409 457 176 716 591 591 125 76 -

45 1 141 193 1 105 1 105 367 715 1 345 920 425 872 1 613 1 613 110 2 027

.. .. 179 1 169 267 902 411 1 018 1 509 990 519 1 123 1 711 1 711 446 1 603 110 1 493 1 299 194 131 746

Source: OECD, Measuring Globalisation: The Role of Multinationals in OECD Economies, 1999 . Notes: Data refer to majority foreign-owned establishments. Crude petroleum and extraction of natural gas are excluded from mining and quarrying. From 1995 onwards, data include establishments indirectly controlled from abroad.

Page 22 of 33

UNCTAD WID Country Profile: NORWAY Table 40. Wages and salaries of affiliates of foreign TNCs in the host economy, by geographical origin, 1992-1996 (Millions of Norwegian kroner) Region/economy Total world Developed countries Western Europe European Union Belgium France Germany Netherlands Sweden United Kingdom Unspecified European Union Other Western Europe Switzerland North America Canada United States Developing economies Latin America and the Caribbean Unspecified

1992 4 873 4 549 4 019 3 553 119 454 511 2 469 466 466 530 530 324

1993 5 392 5 035 4 460 3 831 45 150 273 660 2 703 629 629 575 575 357

1994 6 335 6 334 5 344 4 555 125 66 137 391 1 969 643 1 224 789 789 990 216 774 1

1996 9 137 8 894 7 847 7 254 55 794 429 498 5 478 593 593 1 047 1 047 12 12 231

Source: OECD, Measuring Globalisation: The Role of Multinationals in OECD Economies, 1999 . Notes: Data refer to majority foreign-owned establishments. They cover the manufacturing sector only and are therefore not comparable to those in table 39. Data for 1995 are not available.

Page 23 of 33

UNCTAD WID Country Profile: NORWAY Table 44. Sales of affiliates of foreign TNCs in the host economy, by industry, 1996 (Millions of Norwegian kroner) Sector/industry Total Primary Mining, quarrying and petroleum Mining and quarrying Secondary Food, beverages and tobacco Textiles, clothing and leather Wood and wood products Coke, petroleum products and nuclear fuel Chemicals and chemical products Manufacture of other chemical products Unspecified chemicals and chemical products Rubber and plastic products Non-metallic mineral products Metal and metal products Basic metals Fabricated metal products Machinery and equipment Electrical and electronic equipment Precision instruments Motor vehicles and other transport equipment Motor vehicles, trailers and semi-trailers Other transport equipment Building and repairing of ships and boats Unspecified other transport equipment Other manufacturing Unspecified secondary

1996 75 876 1 186 1 186 1 186 74 690 11 290 346 4 791 9 026 6 396 970 5 426 1 721 5 285 12 542 10 436 2 106 4 396 6 560 2 248 6 620 390 6 230 5 519 711 603 2 866

Source: OECD, Measuring Globalisation: The Role of Multinationals in OECD Economies, 1999. Notes: Data refer to majority foreign-owned establishments. Crude petroleum and extraction of natural gas are excluded from mining and quarrying. Data include establishments indirectly controlled from abroad.

Page 24 of 33

UNCTAD WID Country Profile: NORWAY Table 45. Sales of affiliates of foreign TNCs in the host economy, by geographical origin, 1996 (Millions of Norwegian kroner) Region/economy Total world Developed countries Western Europe European Union France Germany Netherlands United Kingdom Unspecified European Union Other Western Europe Switzerland North America United States Developing economies Latin America and the Caribbean Unspecified

1996 55 724 50 583 40 775 37 209 258 2 536 1 918 5 350 27 147 3 566 3 566 9 808 9 808 21 21 5 120

Source: OECD, Measuring Globalisation: The Role of Multinationals in OECD Economies, 1999. Notes: Data refer to majority foreign-owned establishments. They cover the manufacturing sector only and are therefore not comparable to those in table 44.

Page 25 of 33

UNCTAD WID Country Profile: NORWAY

Table 49. Valued added of affiliates of foreign TNCs in the host economy, by industry, 1992-1996 (Millions of Norwegian kroner) Sector/industry Total Primary Mining, quarrying and petroleum Mining and quarrying Secondary Food, beverages and tobacco Textiles, clothing and leather Wood and wood products Manufacture of wood products, cork, straw and plaiting materials Paper and paper products Unspecified wood and wood products Coke, petroleum products and nuclear fuel Chemicals and chemical products Manufacture of other chemical products Unspecified chemicals and chemical products Rubber and plastic products Non-metallic mineral products Metal and metal products Basic metals Fabricated metal products Machinery and equipment Electrical and electronic equipment Radio, television and communication apparatus Unspecified electrical and electronic equipment Precision instruments Motor vehicles and other transport equipment Motor vehicles, trailers and semi-trailers Other transport equipment Building and repairing of ships and boats Unspecified other transport equipment Unspecified motor vehicles and other transport equipment Other manufacturing Unspecified secondary

1992 6 857 142 142 142 6 715 669 210 731

1993 8 315 159 159 159 8 156 777 180 649

1994 10 091 224 224 224 9 867 923 100 704

1995 21 210 435 435 435 20 775 5 940 77 1 775

1996 21 946 449 449 449 21 497 5 507 91 1 429

731 220 571 571 373 523 1 221 994 227 673 663 407 256 131 470 470 470 118 142

649 693 571 571 375 644 1 692 1 225 467 587 849 457 392 237 698 698 698 84 120

72 632 702 1 424 1 424 365 820 1 886 1 355 531 672 1 060 518 542 266 672 672 672 117 156

55 1 720 394 2 511 2 511 507 1 216 2 281 1 665 616 1 100 1 866 1 866 170 2 938

1 429 839 2 157 381 1 776 521 1 819 2 275 1 500 775 1 351 2 128 2 128 528 1 733 122 1 611 1 462 149 218 901

Source: OECD, Measuring Globalisation: The Role of Multinationals in OECD Economies, 1999 . Notes: Value added refers to gross production value less cost of goods and services consumed, excluding VAT (market prices). Data refer to majority foreign-owned establishments. Crude petroleum and extraction of natural gas are excluded from mining and quarrying. From 1995 onwards, data include establishments indirectly controlled from abroad.

Page 26 of 33

UNCTAD WID Country Profile: NORWAY Table 50. Valued added of affiliates of foreign TNCs in the host economy, by geographical origin, 1992-1996 (Millions of Norwegian kroner) Region/economy Total world Developed Countries Western Europe European Union Belgium France Germany Netherlands Sweden United Kingdom Unspecified European Union Other Western Europe Switzerland North America Canada United States Developing economies Latin America and the Caribbean Unspecified

1992 6 715 6 315 5 625 4 945 174 743 635 3 393 680 680 690 690 400

1993 8 156 7 671 6 660 5 748 78 213 676 1 166 3 615 912 912 1 011 1 011 485

1994 9 867 9 867 8 046 6 812 145 104 208 820 2 713 1 078 1 744 1 234 1 234 1 821 322 1 499 -

1996 16 142 15 767 13 792 12 759 69 817 703 902 10 268 1 033 1 033 1 975 1 975 6 6 369

Source: OECD, Measuring Globalisation: The Role of Multinationals in OECD Economies, 1999 . Notes: Value added refers to gross production value less cost of goods and services consumed, excluding VAT (market prices). Data refer to majority foreign-owned establishments. They cover the manufacturing sector only and are therefore not comparable to those in table 49. Data for 1995 are not available.

Page 27 of 33

UNCTAD WID Country Profile: NORWAY Table 86. Largest home-based TNCs, 2003 (Millions of Euros and number) Company

Industry

Sales

Employees

A. Industrial

Statoil Norsk Hydro AS Orkla Yara International Norske Skogindustrier Elkem Kongsberg Gruppen Jotun A/S Kverneland Fjord Seafood Rieber & SON Leroy Seafood Group Prosafe ASA Pan Fish ASA Tomra Systems ASA Unitor

Petroleum Metal products Foods Chemicals Wood products Metal products Aircraft manufacture Chemicals Machinery equipment Foods Foods Foods Petroleum and gas Foods Machinery equipment Machinery equipment

29 617 20 471 5 312 4 568 2 868 2 215 793 642 480 479 384 347 347 326 293 257

19 326 42 911 31 826 7 543 8 326 10 643 4 176 3 934 3 100 3 014 3 357 331 1 947 1 582 1 976 1 330

Telecommunications Transport and storage Business activities Electricity gas and water Construction Transport and storage Business activities Publishing printing and media Electricity gas and water Petroleum gas services Transport and storage Transport and storage Transport and storage Computer and related activities

41 931 6 559 4 646 3 733 1 364 1 349 1 111 1 019 1 018 938 762 742 687 556

20 190 40 32 199 .. 6 130 .. 2 211 4 690 2 548 3 377 3 316 625 5 762 2 345

B. Tertiary

Telenor Frontline Limited Kvaerner Aker Kvaerner Veidekke Tsakos Energy Navigation Limited STATKRAFT SF Schibsted Hafslund Petroleum Geo-Services ASA Odfjell ASA Golar LNG DET NORSKE VERITAS Ementor C. Finance and Insurance

DNB Nor Storebrand Preference Aksjer Sparebanken Rogaland Bolig-OG Naeringsbanken Sparebanken Midt-Norge Sparebanken More Sparebanken Oest Sandnes Sparebank Totens Sparebank Sandsvaer Sparebank

Assets

Finance Insurance Finance Finance Finance Finance Finance Finance Finance Finance

83 838 18 625 6 267 4 560 4 389 2 755 1 848 1 812 685 673

Employees

11 678 1 263 894 92 772 441 314 91 .. ..

Sources: Thomson Financial Piranhaweb (http://www.piranhaweb.com), Who Owns Whom, 2003 (London, Dun and Bradstreet Ltd., 2003), various company websites.

Page 28 of 33

UNCTAD WID Country Profile: NORWAY Table 87. Largest foreign affiliates of home-based TNCs, 2000 (Millions of United States dollars and number) Company

Host economy

Industry

Sales

Employees

Norsk Hydro (UK) Ltd

United Kingdom

Chemicals

1 089

1 800

Statoil (UK) Ltd

United Kingdom

Petroleum

1 005

168

Statoil AS

Denmark

Petroleum

930

..

Norske Skog Canada Limited

Canada

Paper

855

2 051

Petroleum Geo-Services AS Inc

United States

Petroleum

788

..

Statoil Investments Ireland Ltd

Ireland

Petroleum

569

164

A. Industrial

Statoil Ireland Ltd

Ireland

Petroleum

446

155

Elkem Holding Inc

United States

Metals

420

1 350

Merkantildata AS

Denmark

Electrical and electronic equipment

399

..

House Of Prince AS

Denmark

Tobacco

324

..

Dyno Nobel Holding USA Inc

United States

Chemicals

313

2 701

Norske Skog Bruck GmbH

Austria

Printing and publishing

296

586

Norske Skog Bruck GmbH

Austria

Publishing and printing

279

586

Elkem GmbH

Germany

Metals

264

House of Prince Poland SA

Poland

Tobacco

264

Scandinavian Airlines System (SAS)b

Denmark/Norway/Sweden

Transport and storage

5 038

Statoil Detaljhandel AB

Sweden

Automotive trade and repair

1 450

1 203

Ncl Cruises Ltd

United States

Transport and storage

484

5 000

14 a

..

B. Tertiary

Merkantildata AS

Denmark

Computer and related activities

363

Kvaerner Pulping AB

Sweden

Construction

189 180

c

30 939

.. a

640

H. Hoffmann & Sonner AS

Denmark

Construction

Color Line, Danmark AS

Denmark

Transport and storage

66

..

Olsten Personalkraft AB

Sweden

Other services

65

1 659

Dressmann AB

Sweden

284

Trade

63

Transport and storage

63

17

Simrad North America Inc

Transport and storage

55

126

Frionor Sverige AB

Sweden

Trade

50

..

Bravida Sverige AB

Sweden

Computer and related activities

49

517

Eesti Statoil AS

Estonia

Trade

40

Rimi Baltija SA

Latvia

Trade

38

Norfrig AS

Denmark

Transport and storage

36

C. Finance and Insurance

Assets

a

..

Western Bulk Carriers (Australia) Pty Ltd Australia United States

c

a a

.. .. .. Employees

Finansbanken AS

Denmark

Finance

117

..

Acceptfinans AS

Denmark

Finance

32

130

Sources: The Banker's Almanac, 2001 (London, Reed Information Services Ltd, 2001); City Guide to Hungary (Budapest Business Journal/ITD Hungary, 1999); Classic Ratings Database, 2001 (New York, McGraw-Hill Companies, 2001); Foreign Investment in Latin America & the Caribbean (ECLAC, United Nations 2000); Thomson Financial Piranhaweb (http://www.piranhaweb.com),Who Owns Whom, 2001 (London, Dun and Bradstreet Ltd, 2001); Worldscope Database, June 2001; World Investment Directory Asia and the Pacific (Geneva, United Nations, 2000); World Investment Directory Central & Eastern Europe (Geneva, United Nations, forthcoming); Wright Company Analysis (http://profiles.wisi.com/ profiles/); various company internet websites. a

December 1999.

b

SAS is the joint national airline for Denmark (SAS Denmark holds two-sevenths of ownership), Norway (SAS Norge, two-sevenths), and Sweden (SAS Sverige, three-sevenths). Data for sales and employment relate to the companies' total operations. c

Relates to the entire group.

Page 29 of 33

UNCTAD WID Country Profile: NORWAY

Table 88. Largest affiliates of foreign TNCs in the host economy, 2000 (Millions of Norwegian kroner and number) Company

Home Economy

Industry

Sales

Employees

Norske Shell AS

Netherlands/United Kingdom

Petroleum

14 877

985

Aker Maritime ASA

Netherlands

Machinery and equipment

10 487

7970

Totalfinaelf Exploration Norge AS

France

Petroleum

8 231

404

Siemens AS

Germany

Electrical and electronic equipment

5 773

3 595

Hydro Texaco AS

Denmark

Petroleum

5 745

220

Norske Conoco AS

United States

Petroleum

5 641

Ulstein Holding ASA

United Kingdom

Machinery and equipment

5 422

a

4266

a

b

1828

b

A. Industrial

Alkatel STK ASA

174

France

Electrical and electronic equipment

3 871

Nycomed Imaging AS

United Kingdom

Pharmaceuticals

3 653

Halliburton AS

United States

Petroleum

3 328

976

Umoe Olje Og Gass AS

Switzerland

Other transport equipment

3 316

1 921

Norsk Agip AS

Italy

Petroleum

3 199

775

b

82

ABB Offshore Systems AS

Switzerland

Petroleum

2 900

1 353

Total Norge AS

France

Petroleum

2 710

111

Stolt-Nielsen SA

Luxembourg

Transport and storage

Hakon Detalj AS

Sweden

Trade

9 690

6 844

Hakon Distribusjon AS

Sweden

Trade

6 770

165

Hakon Distribusjon Innkj P AS

Sweden

Trade

6 190

20

Hakon Service AS

Sweden

Trade

4 955

..

Selmer Skanska AS

Sweden

Construction

4 290

4 490

Elkj P Norge Grossist AS

United Kingdom

Trade

3 783

..

IBM AS

United States

Computer and related activities

3 416

1 572

B. Tertiary 13 529

c

..

Mitsui & Co Norway AS

Japan

Trade

2 914

11

Shell Marketing AS

Netherlands/United Kingdom

Automotive trade and repair

2 913

1 555

Compaq Computer Norway AS

United States

Trade

2 715

283

H & M Hennes & Mauritz AS

Sweden

Trade

2 157

1 231

Dahl Br Drene AS

Sweden

Trade

2 130

658

Elkj P Norge AS

United Kingdom

Trade

1 976

643

Startour Stjernereiser AS

Luxembourg

Tourism

1 842

201

ISS Norge AS

Denmark

Other Services

1 822

8 259

C. Finance and Insurance

Assets

Employees

Christiania Bank og Kreditkasse ASA

Sweden

Finance

221 401

4 500

Fokus Bank ASA

Denmark

Finance

48 720

1 129

Sources: The Banker's Almanac, 2001 (London, Reed Information Services Ltd, 2001); Classic Ratings Database, 2001 (New York, McGraw-Hill Companies, 2001); Thomson Financial Piranhaweb (http://www.piranhaweb.com); Who Owns Whom, 2001 (London, Dun and Bradstreet Ltd, 2001); Global Researcher - Worldscope Database (CD-Rom), June 2001; Wright Company Analysis (http://profiles.wisi.com/); various company websites. a

December 1998.

b

December 1999.

c

November 1998.

b

UNCTAD WID Country Profile: NORWAY

Page 30 of 33

C. Legal framework for FDI 1. National policy framework Norway’s attitude toward FDI is positive and welcoming. As of June 2004, the main features of the national FDI regime include the following: Entry and establishments: Norway continues with its policy of liberalizing FDI. The acquisition of qualifying holdings (10 per cent or more) in financial institutions, may only take place in accordance with prior authorization given by the Ministry of Finance. This authorization requirement applies regardless of nationality of the investor. FDI restrictions exist in industries such as basic utilities, the arms industry and in sectors where the government has a monopoly (including postal service, railways, and the domestic production and retail sale of alcohol). Ownership and control: In some industries and activities ownership by foreign investors is limited in terms of quota ranging from 20 per cent to 33.3 per cent of voting shares. Ownership and use (excluding rental) rights, pertaining to mining, forestry, tilled land and water falls, need prior concession. Foreign investors are accorded national treatment for acquisitions in the manufacturing sector. Operational restrictions: Generally there are no performance requirement imposed on foreign investors, although employment requirements are sometimes imposed. In the offshore petroleum sector the use of domestic goods and services are encouraged. Foreign exchange: There are no foreign exchange restrictions, although the Norwegian Foreign Exchange Registry must be notified for statistics and control purposes. Capital, dividends and profits can be remitted freely. Royalties and services fees may also be transferred without restriction. The central bank must be notified for tax purposes. Incentives: Incentives are granted for investments in the Northern region, mainly to stimulate research and development, and exports. Source: The Economists Intelligence Unit. Country Commerce Norway, June 2004. Internet. Main legislations relating to FDI Law on Taxation No. 8 of 18 August 1911. Law on Taxation of Off-shore Oil Production No. 35 of 13 June 1975. Obligation to Give Information to Taxation Authorities Act No. 91 of 16 December 1977. Tax Exemptions for Dividends and Capital Gains of Dec 2004. Concession Act No. 60 of 14 December 1917 as amended up to 1988. Copyright Act No. 2 of 12 May 1961; amended by Act of 4 December 1992; effective 30 June 1995. Trademark Act No 4 of 3 March 1961; last amended by Act no. 91 of 5 September 2003 (amendment entered into force 1 March 2004). Collective Marks Act No. 5 of 3 March 1961.

UNCTAD WID Country Profile: NORWAY

Page 31 of 33

Patents Act No 9 of 15 December 1967; last amended by Act No 20 of 7 May 2004 (amendment entered into force same day). Designs Act No. 15 of 14 March 2003, last amended by Act no. 33 of 23 May 2003 (amendment entered into force 1 June 2003). Public Limited Companies Act No 45 of 13 June 1997. Scientific Exploration and Investigation of Submarine Natural Resources Act No. 12 of 21 June 1963. Control of Marketing and Contract Terms and Conditions Law No. 47 of 16 June 1972. The Competition Act, No. 12 of 5 March 2004. The EEA Competition Act, No. 11 of 5 March 2004. Establishment Control Act No. 5 of 20 February 1976. Companies Act No. 59 of 6 June 1976; amended by Revised Company Act of 1996. Companies Registration Act No. 78 of 21 June 1985. Partnership Act No. 83 of 21 June 1985. New Securities Trading Act of 1997. The Electronic Communications Act, effective 25 July 2003. Petroleum Act of November 1996. Private Limited Companies Act No. 44 of 13 June 1997; amended by: Act No. 59 of 2 July 1999. 2. International framework a. Multilateral instruments Paris Convention for the Protection of Industrial Property of 20 March 1883, as amended and revised New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards of 10 June 1958. Convention on the Settlement of Investment Disputes between States and Nationals of Other States of 18 March 1965, signed on 24 June 1966, effective 15 September 1967. ILO Tripartite Declaration of Principles Concerning Multinational Enterprises and Social Policy, adopted on 16 November 1977. The Set of Multilaterally Agreed Equitable Principles and Rules for the Control of Restrictive Business Practices, adopted on 5 December 1980 by the General Assembly of the United Nations (resolution 35/63). Convention Establishing the Multilateral Investment Guarantee Agency of 11 October 1985, signed on 6 June 1988.

UNCTAD WID Country Profile: NORWAY

Page 32 of 33

Agreement on Trade-Related Investment Measures, signed on 15 April 1994; in force on 1 January 1995. Agreement on Trade-Related Aspects of Intellectual Property Rights, signed on 15 April 1994; in force on 1 January 1995. Berne Convention for the Protection of Literary and Artistic Works of September 9, 1886 Rome Convention 1961, International Convention for the Protection of the Performers, Producers of Phonograms and Broadcasting Organizations. General Agreement on Trade in Services, signed on 15 April 1994; in force on 1 January 1995. Fourth Protocol to the General Agreement on Trade in Services of 15 February 1997. Fifth Protocol to the General Agreement on Trade in Services of 12 December 1997. b. Regional instruments Convention Establishing the European Free Trade Association, signed in Stockholm on 4 January 1960, in force on 3 May 1960, as amended. Code of Liberalisation of Capital Movements, adopted by the Council of the Organization for Economic Cooperation and Development on 12 December 1961. The Code was amended on several occasions. Code of Liberalisation of Current Invisible Operations, adopted by the Council of the Organisation for Economic Cooperation and Development on 12 December 1991. The Code has been amended on several occasions. Declaration on International Investment and Multilateral Enterprises, adopted by the Council of the Organisation for Economic Cooperation and Development on 21 June 1976. The Declaration and the Guidelines for Multinational Enterprises attached to the Declaration were revised on several occasions (1979, 1984, 1991 and 2000). Agreement on the European Economic Area of 2 May 1992; entered into force on 1 January 1994. Energy Charter Treaty of 17 December 1994; effective since 16 April 1998. c. Bilateral treaties 1. Bilateral investment treaty for the protection and promotion of investments with Chile 1 June 1993; China 21 Nov 1984; Czech Republic 21 May 1991; Estonia 15 June 1992; Hungary 8 April 1991; Indonesia 26 Nov 1991; Latvia 16 June 1992; Lithuania 16 June 1992; Madagascar 13 May 1966; Malaysia 6 Nov 1984; Peru 10 March 1995; Poland 5 June 1990; Romania 11 June 1991; Russian Federation 4 Oct 1995; Slovakia 21 May 1991; Sri Lanka 13 June 1985. 2. Bilateral treaties for the avoidance of double taxation with Anguilla 18 May 1955; Antigua and Barbuda 18 May 1955; Argentina 8 Oct 1997; Australia 6 May 1982; Austria 25 Feb 1960; and 28 Nov 1995; Azerbaijan 24 April 1996; Barbados 18 May 1955; 15 Nov 1990; Belgium 30 June 1967; and 14 April 1988; Belize 18 May 1955; Benin 29 May 1979; Brazil 21 Aug 1980; British Solomon Islands 18 May 1955; British Virgin Islands 18 May 1955; Bulgaria 1 March 1988; Canada 23 Nov 1966; Chile 31 Oct 2001; China 25 Feb 1986; Côte d'Ivoire 15 Feb 1978; Cyprus 18 May 1955; Czech Republic 27 June 1979; Dominica 18 May 1955; Egypt 20 Oct 1964; Estonia 14 May 1993; Finland 16 Aug 1999; France 19 Dec 1980; France 16 Aug 1999; Gambia 18 May 1955; and 27 April 1994; Germany 18 Nov 1958; and 4 Oct 1991; Greece 27 April 1988; Grenada 18 May 1955; Hong Kong, China 16 Oct 2003; and 2 June 2000; Hungary 21 Oct 1980;

UNCTAD WID Country Profile: NORWAY

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India 20 July 1959; and 31 Dec 1986; Indonesia 19 July 1988; Ireland 21 Oct 1969; and 22 Nov 2000; Israel 2 Nov 1966; Italy 17 June 1985; Jamaica 30 Sept 1991; Japan 11 May 1967; and 4 March 1992; Kenya 13 Dec 1972; Kiribati 18 May 1955; Korea, Republic of 5 Oct 1982; Latvia 19 July 1993; Lithuania 27 April 1993; Luxembourg 6 May 1983; Malawi 16 Dec 1963; Malaysia 23 Dec 1970; Malta 2 June 1975; Mauritius 18 May 1955; Mexico 23 March 1995; Montserrat 18 May 1955; Morocco 5 May 1972; Nepal 13 May 1996; Netherlands 22 Sept 1966; and 12 Jan 1990; Netherlands Antilles 13 Nov 1989; New Zealand 20 April 1982; Nigeria 18 May 1955; Pakistan 7 Oct 1986; Philippines 9 July 1987; and 22 May 1989; Poland 24 May 1977; Portugal 24 June 1970; Romania 14 Nov 1980; Russian Federation 15 Feb 1980; 26 March 1996; and 7 Jan 2002; Saint Kitts and Nevis 18 May 1955; Saint Lucia 18 May 1955; Saint Vincent and the Grenadines 18 May 1955; Senegal 4 July1994; Seychelles 18 May 1955; Sierra Leone 18 May 1955; Singapore 19 Dec 1997; 9 Sept 1966; and 18 Oct 1984; Slovakia 27 June 1979; South Africa 12 Feb 1996; Spain 25 April 1963; 6 Oct 1999; Sri Lanka 11 June 1964; and 4 Dec 1986; Switzerland 7 Dec 1956; 7 Sept 1987; and 7 Dec 1956; Tanzania, United Republic of 28 April 1976; Thailand 9 Jan 1964; and 31 July 2003; Trinidad and Tobago 29 Oct 1969; Tunisia 31 May 1978; Turkey 16 Dec 1971; Tuvalu 18 May 1955; Uganda 7 Sept 1999; Ukraine 7 March 1996; United Kingdom 2 May 1951; United Kingdom 22 Jan 1969; and 3 Oct 1985; United States 24 May 1990; 3 Dec 1971; and 13 June 1949; Venezuela 29 Oct 1997; Viet Nam 1 June 1995; Yugoslavia (former) 1 Sept 1983; Zambia 14 July 1971; Zimbabwe 9 March 1989.