Norwegian manufacturing 2014

Production in Norwegian manufacturing increased by 3.3 per cent in 2014 compared to 2013. From 2009 to 2014 there has been growth in manufacturing. Since 2005, produc­tion in Norwegian manufacturing has increased by about 23 per cent, but with a significant decline in parts of 2008 and 2009 due to the financial crisis.

Manufacturers in 8 of the 15 manufacturing industries experienced a growth in production in 2014 compared to 2013. The growth was particularly large in machinery and equipment, where production increased by 10 per cent. Also, production growth among manufacturing companies in ships, boats and oil platforms, computer and electrical equipment and repair and installation of machinery, contributed to the industry′s total production growth.

Despite production growth in a number of industries, total output growth was to a certain extent offset by production declines in other industries. Growth in rubber, plastic and

mineral production plummeted by 4.4 per cent in 2014 compared to 2013. Paper and

paper products, together with furniture and manufacturing n.e.c., saw a decrease in production by 3.7 and 3.4 per cent respectively. In addition, production declined by 2.5 per cent among manufacturers in printing and reproduction.

When we compare production in Norwegian manufacturing with Sweden and Denmark, Norway and Denmark had production growth since 2008 until today, while Sweden has experienced a steady decline in production since 2011. When we compare Norway with the countries in the Eurozone, we see a decline in production from 2011 until the end of 2013 in the Eurozone, before picking up slightly until 2014. Norway has production growth in the same period. Production in Norwegian manufacturing was also less adversely affected by the financial crisis, mainly due to a generally high level of activity in the Norwegian oil and gas industry.

Other indicators mainly show little change in manufacturing in 2014 compared to 2013. Employment and total turnover for Norwegian manufacturing was more or less the same, while investments increased by 7 per cent.¹

¹ Employment figures are extracted from quarterly national accounts (http://www.ssb.no/en/nasjonalregnskap-og-konjunkturer/statistikker/knr) and investment figures are extracted from quarterly investment statistics (http://www.ssb.no/en/energi-og-industri/statistikker/kis).