Menon Economics has carried out a study of Norwegian service exports on behalf of the Confederation of Norwegian Business and Industry (NHO). The report examines Norwegian service exports based on Menon’s proprietary export database and a survey of NHO’s member companies.

Findings from the study:

• Services are expected to play a more important role for Norwegian trade and industry in the future: five out of ten export companies expect increased trade in services.
• Two out of three export companies export services.
• Many Norwegian exporters of goods sell goods with an integrated service component: six out of ten exporters of services export goods.
• Norwegian export of services is mainly ocean-based, i.e., within shipping services, deepsea and offshore.
• 70 percent of Norwegian service exports go to countries within the EEA.
• The companies expect the highest future growth to come from outside Europe, primarily in Asia.

The report also focuses on the potential significance of TISA for Norway. The study concludes that TISA is likely to have a limited, but positive effect on Norwegian service exports in the short term. This is due to the fact that 70 percent of Norwegian exports of services currently go to European countries, where Norway through the EEA Agreement is entitled to practically free trade in services and the establishment of companies. Europe is expected to remain the most important export market also in the future, but our survey amongst the member companies of the Norwegian Confederation of Business and Industry shows that the majority of companies that expect strong growth in trade in services believe that this growth will come from developing economies in Asia. This means that TISA’s significance for Norway will increase in the long term if the agreement provides Norwegian actors with better market access in Asia.

The full report (in Norwegian language) can be downloaded here.