Trade - Commerce
Belgium is an important partner for Norway. In 2018, the total exports of goods from the European Union (EU-28) to Norway was almost EUR 53.9 billion, and Belgium represented 3.0% of this a share (EUR 1.6 billion), making it the 10th most important European exporter of goods to Norway. On the other hand, Belgium is an important export partner for Norway, acting as platform for gas to Europe and covering around 30% of Belgium’s gas consumption.
In 2019, Norway was Belgium’s 33rd biggest client (in 2020, the Belgian exportations to Norway were estimated to EUR 1238 million) and as the 14th in the supplier list to Belgium (in 2020, the Belgian importations from Norway were estimated to EUR 2920 million).
In terms of goods, Belgium is mostly exporting chemical products, transport equipment/vehicles and machinery & equipment to Norway while the country is mostly importing gas, mineral, chemicals and base metals products from Norway.
After a drop in ‘machinery and transport equipment’ exportations from Belgium to Norway, this sector is in constant progression since 2017. The exports of chemicals and related products has slightly decreased from 2019 to 2020.
As far as services are concerned, the exports from Belgium to Norway amounted to EUR 511 million, in 2018 which is a drop of 1.7 % compared to the previous year. Imports of services from Norway to Belgium in 2018 have reached EUR 550 million, which is a 2.8 % increase compared to 2017.
In 2019, the amount of Walloon exports across the globe reached EUR 49.2 billion, which is a record high in terms of yearly exported value. This progression of 11.2 % compared to 2018 has been Wallonia’s greatest increase since 2010.
The global value of Walloon exports to Norway amounted to EUR 229 million, an increase of 50,7% compared to the previous year, making the Scandinavian country Belgium’s 28th client.
Through the partnership between the European Union and Norway, our region is exporting various products in multiple sectors. As on national level, chemicals and pharmaceutical products are, far beyond, the most exported goods, confirming the important position of the chemical and pharmaceutical/biotech industry in Wallonia.
- Walloon companies in Norway
Many companies are represented through distributors/wholesalers in Norway. Here are some companies represented by a Norwegian branch: 3B, Alstom Transport Norway AS, Deltrian Norge AS, Everzinc Norway AS (Umicore Zinc Chemicals), or through joint ventures: Solvay, Groupe Lhoist.
Belgium has kept its 5th place in Ernst & Young’s ranking of the most attractive places to invest in Europe. In 2019, 267 new investments projects were brought to life in Belgium with a small drop of 4% compared to 2018. Out of these 267 projects, 197 were totally new (the others being extensions of existing projects).
Google, Microsoft, GSK, Baxter, Decathlon and many others have already opted in favour of Wallonia. They have developed their activities there, attracted by a.o. the research grants, the geographical position at the heart of Europe and the quality of the logistics infrastructures. Wallonia Export & Investment Agency (AWEX) also provides free services and full support to businesses wanting to locate in Wallonia: research into subsidies, business premises, skilled personnel, training, etc.
Click on the link to see why your company should consider Wallonia for establishing a branch in Europe: http://www.investinwallonia.be/why-wallonia
In 2019, the countries or regions that invested the most in Wallonia were the United States, France and the United Kingdom. The main sectors of investments were the sales and marketing sector (with 105 projects), the manufacturing industry (60 projects) and logistics (51 projects). Overall, these sectors accounted for 80 % of foreign investments in Belgium in 2019.
- Norwegian companies in Wallonia
Here are a few examples of some Norwegian companies that invested in Wallonia: Yara International, KS Rasmussen and Norsk Hydro.