I'm Siw Andersen, CEO, Oslo Business Region. On Oslo is a series where I’ll share my thoughts on what Oslo needs to succeed globally. This one focuses on the role of exports in Oslo's open economy.
How Oslo drives Norwegian exports and can grow them
Exports from Oslo have grown by 8% since 2023. Oslo is Norway’s second-largest export region after Vestland, with total exports reaching NOK 213 billion in 2024. Oslo's exports are driven by a diverse business sector, with multiple industries generating significant export revenues. Besides oil and gas, which dominate Norwegian exports, the maritime sector accounts for the largest share (NOK 65 billion), followed by knowledge-based industries such as IT, healthcare, and business services in Oslo.
Exports create positive ripple effects, particularly when it comes to job creation. Growing exports isn’t just good for businesses but for Oslo as a whole. In Oslo, 85,000 people are employed in export-related jobs with 41,000 working directly for export companies and 44,000 in companies supplying goods and services to these exporters.
A key challenge for Oslo is that Norway exports less compared to other countries. The share of exports in GDP is a key measure of an economy's export strength. Norwegian exports, excluding oil and gas, make up for 32 percent of GDP (48 percent including them). By comparison, the EU average is 51 percent, Sweden reaches 55 percent, and Denmark stands at an impressive 70 percent. Norway’s export growth was 1.7 percent, that’s half the pace of Sweden and Denmark. (Eksportmeldingen 2025).
At the same time, there’s increasing talk about how Oslo’s business sector will navigate a potential trade war between the U.S., China, and Europe. Europe is Norway’s largest export market, and we rely on the European labor market. That’s why initiatives like “Omnibus,” presented by the EU Commission on February 26, are particularly interesting. The proposal aims to simplify tax regulations for businesses, especially benefiting startups and growth companies in climate tech—one of Oslo’s fastest-growing sectors.
3 Ways to boost exports from Oslo
1. Startups and scaleups are now key export players
Oslo’s startup and scaleups are a driving force for the Norwegian economy. We have to make sure that Norway remains an attractive place for entrepreneurs and that we create conditions for them to grow. We need more success stories like ReMarkable, one of Oslo’s top 10 exporting companies. In fact, I believe many Norwegians don’t even know that ReMarkable is a Norwegian company headquartered in Majorstuen, Oslo.
2. More international companies should consider Oslo for their development and operations
80 percent of Norway’s healthcare industry is located in Oslo, sitting on an enormous export potential. GE Healthcare’s Norwegian division alone accounts for 2 percent of all Norwegian exports (!) (excluding oil and gas). Our goal should be to attract more international companies to establish their operations and development in Oslo. GE Healthcare employs over 500 people in Norway.
3. Diversity and inclusion as a competitive advantage
Oslo and Europe have a diversity advantage. Oslo is a city rich in diversity, and we must ensure that the entrepreneurs and investors of the future come from various backgrounds. That's of course easier said than done. I believe we need more initiatives like Alna Gründerhub, a program for new entrepreneurs in Oslo’s Alna district, and SHE Conference, which takes place on April 1 at Oslo Spektrum. These initiatives provide entrepreneurs and talents with knowledge, access to local and international networks, and strong role models, making our ecosystem more inclusive.
How does Oslo Business Region contribute?
Attracting talent and investments is closely linked to exports, and our role is to continue bringing in highly skilled professionals and risk capital. We are leading two panels at SHE Conference on how to get more women into finance. An important step to get more investment towards female-led startup teams.
Another of our initiatives helps international professionals join the workforce. Many people moving to Oslo bring partners. Our “spouse program” helps these partners quickly find a relevant job. 68 percent of participants in the last three programs are now employed.
We’re also working with 14 other European cities to strengthen our global visibility and attract capital and talent. From May 27–30, we will be present at WebSummit in Vancouver, Canada.
What do you think Oslo needs to do to increase its exports?
📩 Contact: Siw Andersen, CEO, Oslo Business Region | siw@oslobusinessregion.no
