Industry statistics for Svalbard shows that total investments went down from 2021 to 2022 by 37 per cent. In contrast, investments increased by 50 per cent from 2022 to 2023, an increase of 285 million NOK.
The greatest growth in investment in 2023 was in Administrative and support services activities, where investments rose by 92 million NOK, which represents 165 per cent.
Nearly twofold increase in Professional, scientific and technical activities
Industries in Professional, scientific and technical activities had the greatest investment growth In percentage terms, investing 483 per cent, or approximately 70 million NOK more.
Industries in Information and communication, financial and insurance activities invested 70 million NOK more, which was substantial.
Most of investment growth in 2023 stemmed from real estate and new technology.
Continued turnover increase in Svalbard
Turnover in Svalbard went up 11 percent in 2023.
Turnover totalled NOK 5.2 billion. Information, communication and financial and insurance activities had most of the turnover, with NOK 1 039 million. Transport and storage contributed NOK 1 026 million.
Slight increase in total man-years worked
The number of Full-time equivalents FTEs: In the industry statistics for Svalbard, 1687 hours corresponds to a full-time equivalent. The definition of a full-time equivalent is based on the total number of hours worked by employees in a workplace, both within and outside normal working hours. Short breaks are included, but time spent in transit between home and the workplace is not included worked went up by 2 per cent from 2021, which represents 30 man-years worked. The largest growth was in Accommodation, food and service, with 21 per cent, or 46 man-years worked.
More total man-years worked
The number of Full-time equivalents FTEs: In the industry statistics for Svalbard, 1687 hours corresponds to a full-time equivalent. The definition of a full-time equivalent is based on the total number of hours worked by employees in a workplace, both within and outside normal working hours. Short breaks are included, but time spent in transit between home and the workplace is not included. rose 7 per cent from 2022, which represents 112 man-years worked. With 37 more man-years worked, in Administrative and support services contributed most to the increase.
Less coal sales
Turnover for Store Norske Spitsbergen Grubekompani AS (SNSG) is a Norwegian, state-owned coal mining enterprise that has operated since 1916. dropped from150 million NOK in 2022 to approximately 120 million NOK in 2023. Coal sales fell to 83 000 tonnes in 2023, from110 000 in 2022.
All coal is now produced in Gruve 7, the only mine in operation in Svalbard.
In 2023, considerable coal was sold to Europe, which uses it in manufacturing. Sales to Germany went up from 200 tonnes in 2022 to 54 500 tonnes in 2023. What was new in 2023 was that coal was sold neither to Denmark nor Sweden. Also new 2023 was that Latvia bought coal, with 5 500 tonnes, and that the inhabitants of Svalbard themselves used 23 000 tonnes of coal for heating in 2023.