Maritime Forum has submitted its annual value creation report to Minister of Fisheries and Trade Marianne Sivertsen Næss. The report shows that the Norwegian maritime industry is delivering results that exceed all previous expectations.
Text: martimebergen.no
The Maritime Value Creation Report 2026, prepared by Menon Economics for the Maritime Forum, shows impressive growth in exports, value creation, and shipyard activity in 2024 and 2025, despite a year marked by global unrest, high interest rates, and increasing geopolitical tensions.
You can find the entireMaritime Value Creation Report 2026here (external link).
The maritime industry is one of Norway's most important industries and is of great significance for value creation and employment in large parts of the country. In 2025, the industry had a turnover of NOK 673 billion, contributed NOK 237 billion in value creation, and employed over 89,000 people. Total exports from the maritime industry in 2025 are estimated at NOK 369 billion.
Western Norway strengthens its position as Norway's largest maritime region
"Western Norway is and will remain Norway's maritime powerhouse. The figures show an industry that is both growing and transforming, and which stands strong in the face of new markets and technological shifts. This is the result of a robust and forward-looking cluster," says Sigvald Sveinbjørnsson, CEO of Maritime Bergen.
Exports far exceed government targets
In 2022, the government presented its export initiative "All of Norway exports," with a goal of increasing exports other than oil and gas by 50% by 2030. The Maritime Forum's value creation report shows that the government's target was already achieved in 2024.
Exports from the Norwegian maritime industry (equipment manufacturers, service providers, and shipyards) have increased significantly, from NOK 81 billion in 2021 to an estimated NOK 141 billion in 2025. This corresponds to a total growth of 73 percent.
"The maritime industry delivers export figures that are well above the government's targets for mainland exports. This shows what an enormous force this industry is for the Norwegian economy, and what a role we actually play as an international technology supplier," says Fride Solbakken of Maritime Forum.
Shipping companies account for the largest share of total maritime export revenues (NOK 369 billion). In 2025, shipping companies will account for just over 60 percent, corresponding to NOK 228 billion. This reflects Norwegian shipping companies' global operations and position in international freight and offshore markets.
Deep-sea shipping companies are growing rapidly
In Western Norway, deep-sea shipping companies have increased their share of value creation from 15 percent in 2014 to 27 percent in 2024. At the same time, offshore shipping companies and rig companies have gone from almost 40 percent of value creation in 2014 to less than 30 percent in 2024.
After a decline in employment between 2014 and 2016, the level has stabilized. From 2021 to 2024, value creation has increased by nearly 80 percent. The shipping segment accounts for almost 70 percent of value creation and nearly 50 percent of employment.
Shipyards experiencing strong upturn – demonstrating international competitiveness
In 2024, turnover at Norwegian shipyards increased by 29 percent, far exceeding the previous year's estimates. Exports from the shipbuilding industry are estimated to increase from NOK 11 billion in 2024 to over NOK 17 billion in 2025, and in terms of size and complexity, almost 56 percent of the ships delivered in 2025 have been ordered by foreign owners.
"The shipyards have delivered a year that is far better than any of us dared to expect, and we are seeing increased activity in segments such as offshore wind, defense, and advanced specialty vessels. The Norwegian shipbuilding industry is back as an international force," says Solbakken.
Norway strengthens its international position
The report also shows:
· Strong growth in markets such as offshore wind, aquaculture, and defense
· Strong demand for Norwegian maritime technology
· Increased export share among equipment manufacturers (over 70%)
· A significant boost in activity and value creation along the entire coastline
We have a complete maritime cluster in Norway, one of very few in the world. It is crucial that we continue to maintain good, long-term framework conditions, focus on expertise, and invest in green technology if we are to maintain our position in the global markets, says Solbakken.
Maritime strategy could be the key to further growth
Maritime Bergen and Maritimt Forum believe that the government should present a new maritime strategy, as a comprehensive and overall course will strengthen the international competitiveness of the Norwegian maritime industry.
"The key to successfully strengthening the maritime cluster may lie in a new strategy," concludes Solbakken.
Key figures from Vestland (2024)
- Turnover: NOK 151 billion
- Value creation: NOK 55.6 billion
- Employment: 21,330 people
- Share of national value creation: 24%
- Share of national employment: 23%
