[Trade Guide] Importing and exporting between the UK and Norway
Whether you’re already importing or exporting between the UK to Norway or you’re considering Norway as a new opportunity, we give you the low down on the top UK exports, benefits of trading with Norway and the most cost-effective and environmentally friendly way to transport your goods.
Norway is one of the world’s strongest economies and a world leader in the oil and gas, energy, maritime and seafood sectors. Although its population of just over 5 million is relatively small, Norway is renowned for its good public services and political stability. It also took first place in the 2017 World Happiness Report and 9th place in the world for ease of doing business with (World Bank, 2019).
The UK has signed a temporary agreement with Norway to ensure trade of goods can continue between the UK and Norway in the case of a no-deal Brexit after 31 December 2020. This is good news for importers and exporters trading between the two countries whose total trade was worth £26.3 billion in 2019.
Norway is not a member of the customs union but is part of the EU’s single market due to its European Economic Area membership. An important priority for Norway is to ensure that Norwegian companies can operate in, and have access to the British market on at least as good terms as EU companies. A statement from the Norwegian Industry Ministry said it is important to have arrangements in the event that the UK leaves the EU customs union and the single market without a trade deal.
What to export to Norway from the UK
There is a demand for UK-manufactured products and services across many sectors in Norway. The top UK exports into Norway include:
- industrial and electrical machinery
- medicines and pharmaceuticals
- petroleum products
- animal and vegetable by-products
Exporting Consumer Goods to Norway from the UK
Norwegian consumers value quality, design and innovation when it comes to consumer goods and are, therefore, willing to pay a high price for quality products. There are opportunities for UK exporters in:
- food and drink
Benefits of Exporting to Norway
There are a range of benefits for UK businesses considering exporting to Norway, including:
- UK brands have a positive reputation in Norway
- English widely used as business language
- High living standards
- Stable economy
- An open market
Importing from Norway to the UK
As well as the UK exporting goods to Norway, the UK is Norway’s largest single export market, with 22 per cent of all Norwegian exports coming to the UK including:
- Oil and gas
- Machine components
Getting goods between the UK and Norway
The comprehensive service accommodates:
- Dry Containers (20 feet)
- Reefer Containers (45 feet)
- High Cube Pallet Wide Containers (40 and 45 feet)
- Flat Rack Containers (20 and 40 feet)
- Hazardous Cargo
With a fixed weekly schedule and fast transit times, NCL will offer a wide range of line equipment from its fleet of 1800 containers which includes 20ft, 40ft and 45ft dry and reefer containers.
The service will be able to achieve cost savings in the region of 25%-30% compared to truck between the west coast of Norway and the UK, not to mention the environmental benefits thanks to reduced carbon emissions.