Economy

Norway is contributing actively when it comes to global energy issues. The energy sector is of great importance to the Norwegian economy, and an area in which Norway has considerable experience and competence. Norway remains committed to research and development in renewable energy, with the majority of domestic energy production coming from renewables, most notably from hydropower resources. Read more

Photo: Statoil.

The petroleum industry is Norway's largest industry. In 2012, the petroleum sector represented more than 23 per cent of the country’s total value creation. The revenues from the petroleum sector constitute 30 percent of the state revenues. Today Norway is the 7th largest producer of oil and the 3rd largest producer of gas in the world. Read more

Photo: IN.

Norway is one of the world's leading maritime nations, and the maritime industry represents 6.9 percent of the total value creation in Norway. The Norwegian maritime industries cover a vast area of services, technology and expertise. Many Norwegian companies in the maritime industry also have a presence in China. Read more

Norway’s external business and trade reflect its areas of expertise and experience within the oil and gas, energy and maritime industry. Norway’s main export group of goods is oil and gas and its main export groups of services are shipping related. Norway and China’s business and trade relationship is built on common interests and mutual benefit, and is showing solid growth. Read more