Norway

Norway has a mixed economy with a combination of free-market activity and extensive government intervention. It is known for its abundant natural resources, including oil, gas, hydropower and fish, which have played a significant role in shaping its economy.

Norway's economy

• Natural resources: Norway is one of the world's largest exporters of oil and gas, providing a substantial portion of its revenue.
• High standard of living: Norway has a high standard of living, supported by a well-developed welfare system and income equality. The country consistently ranks among the top nations in terms of human development and happiness indexes.
• Innovation and technology: Norway places a strong emphasis on innovation and technology. It has a highly skilled workforce and invests heavily in research and development, particularly in sectors such as energy, maritime industries and environmental technologies.
• Manufacturing and services: Norway's industrial sector includes manufacturing industries like shipbuilding, petroleum refining, metals, chemicals and machinery. The services sector, including finance, telecommunications, tourism and retail, also contributes significantly to the economy.
• Strong fiscal management: Norway has established a sovereign wealth fund, the Government Pension Fund Global, which is one of the world's largest.

Guide on how to import into Norway:

Research import regulations: Familiarise yourself with Norway's import regulations and requirements. The Norwegian Customs website provides comprehensive information on customs procedures, documentation, duties and restrictions.

Determine product classification: Classify your imported products according to the Norwegian Customs Tariff System (Tolltariffen). It assigns unique codes to different goods, determining the applicable customs duties and controls.

Register: If you are a non-Norwegian entity, companies importing goods into Norway are dependent on having an ID number that the declaration system TVINN can use at the time of importation. You will need a Norwegian organiation number from the Business Register. You can register online through the Norwegian Customs' website.

Ensure proper documentation: Prepare the necessary documentation, including commercial invoices, packing lists, transport documents (such as bills of lading), and any required licences or certificates specific to your product category.

Customs clearance: File an import declaration electronically through the Norwegian Customs' system. Pay any applicable customs duties and value-added tax (VAT), depending on the nature of your goods.

Transport and Delivery: Arrange for transportation of your goods to Norway. You can choose between different modes, such as sea, air, or land transport.

Post-import obligations: Once your goods arrive in Norway, ensure compliance with any post-import obligations, such as product labelling, quality control, or environmental standards.

VAT and tax considerations: Be aware of Norway's VAT system and any applicable tax obligations. If you plan to conduct ongoing business in Norway, you may need to register for VAT and fulfil regular reporting requirements.

Please contact us if you require assistance to import into Norway.

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