In fact, Norway is the world’s second largest exporter of oil, after Saudi Arabia. It is therefore no surprise that it is a major shipping country, with one of the largest merchant fleets in the world. It has a large number of Shipping companies with effective and streamlined operations as well as a forward thinking government that is supportive to the international freight sector. It has a positive balance of trade, although imports to Norway also have a strong level of importance. This means that the freight services sector is able to constantly balance the needs of export and import business.

Norway’s abundance of natural resources and high level of oil and gas exports make it likely that Norway will continue to be one of the countries in the world with the highest reserves and the most secure economic outlook. This means there is likely to be continued government and private sector investment in the international freight sector, which also indicates a rosy outlook for every shipping company and freight company that is based in Norway.

However, as well as the strong performance in exports, the freight transport sector in Norway is also kept busy dealing with shipping of imports to Norway. Shipping companies compete with each other to win business from other counties keen to be involved in freight forwarding to prosperous Norway.

Norway imports more than half of its food needs. With a high standard of living, this includes higher value food stuffs. Most of Norway imports come via freight transport from Denmark, Iceland, Peru, Russia and the UK, although many other countries also import to Norway, including Germany, Sweden, the United States and the Netherlands.

A particularly significant import from Russia and Finland is ground fish, used as fish feed for farmed salmon in Norway. Frozen fish is also imported in significant quantities, some for domestic use and some for re-export. Specialist freight services and shipping companies are well geared up to deal with the specific refrigeration needs of these food stuffs.

Apart from food, other important imports are motor vehicles, transportation equipment, raw materials and industrial equipment. Machinery accounts for 24% of all imports to Norway and industrial supplies account for 26%. The next largest sector is consumer goods, which make up 19% of all imports. 19% is also the percentage accounted for by transportation equipment. Meanwhile, food makes up 6% of all imports to Norway.

It is interesting to look a little closer at the imports from the United States, which have been rising in recent years. The most important imports from the United States are measuring, testing and control instruments, followed by non-ferrous metals, drilling and oil field equipment. Medical equipment and telecommunications equipment are also imports from the United States that are of especial significance. The international freight services sector is well geared to handling the specific freight transport needs of these products.

Imports from the United States that have been declining in importance in recent years are pulp and paper machinery and wine. The first of these reflects the decline of print as a medium as the internet continues to grow in importance as a communications medium. The second reflects changing tastes in a highly competitive global sector. These kind of trends in freight transport are a perpetual barometer of changing consumer preferences.

Norway has stayed outside the European Union but it takes part through the European Economic Area agreement and other inter-governmental agreements between the EU member states. So Norway is perfectly well integrated with the EU internal market and all imports from other European countries are straightforward and efficient.

Norway’s prosperity and high standard of living, combined with its dependence on imports for many kinds of products, makes the country and attractive prospect for many potential importers. In response to this constant market demand, The freight services sector serving the Norway import market is constantly at the leading edge.

Author Bio: Stephen Willis is Managing Director of RW Freight Services a UK based freight transport company, established in 1971 and operating worldwide freight forwarding services including specialist freight services to and from Norway

Category: Business
Keywords: Freight services,shipping companies,international freight, freight transport, freight forwarding, freight company, shipping company