The Maritime Forum has submitted its annual value creation report to Marianne Sivertsen Næss, Minister of Fisheries and Industry. 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 Maritimt Forum, shows impressive growth in exports, value creation, and shipyard activity in 2024 and 2025, despite a year marked by global turmoil, high interest rates, and rising geopolitical tensions.
You can find the full2026 Maritime Value Creation Reporthere (external link).
The maritime industry is one of Norway’s most important industries and plays a major role in value creation and employment across large parts of the country. In 2025, the industry had a turnover of 673 billion kroner, contributed 237 billion kroner in value creation, and employed over 89,000 people. Total exports from the maritime industry in 2025 are estimated at 369 billion kroner.
Vestland is strengthening its position as Norway's largest maritime region
“Western Norway is and will remain Norway’s maritime hub. The figures show an industry that is both growing and transforming, and that is well-positioned to tackle 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 the government's targets
In 2022, the government launched the “All of Norway Exports” initiative, with the goal of increasing non-oil-and-gas exports by 50% by 2030. The Maritime Forum’s value creation report shows that the government’s target was already met in 2024.
Exports from the Norwegian maritime industry (equipment manufacturers, service providers, and shipyards) have increased significantly, from 81 billion Norwegian kroner in 2021 to an estimated 141 billion in 2025. This represents a total growth of 73 percent.
“The maritime industry is reporting export figures that far exceed the government’s targets for mainland exports. This demonstrates the enormous impact this industry has on the Norwegian economy and the role we actually play as an international technology provider,” says Fride Solbakken of Maritimt Forum.
Shipping companies account for the largest share of total maritime export revenues (369 billion). In 2025, shipping companies’ share will be just over 60 percent, equivalent to 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 Vestland, 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 operators have seen their share of value creation decline from nearly 40 percent in 2014 to less than 30 percent in 2024.
Following 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 nearly 70 percent of value creation and close to 50 percent of employment.
Shipyards Experience Strong Upturn – Demonstrating International Competitiveness
In 2024, revenue at Norwegian shipyards increased by 29 percent, far exceeding the estimates from the previous year. Exports from the shipbuilding industry are projected to rise from 11 billion kroner in 2024 to over 17 billion in 2025, and in terms of size and complexity, nearly 56 percent of the ships delivered in 2025 were ordered by foreign owners.
“The shipyards have had 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 is strengthening 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 economic activity and value creation along the entire coast
"We have a comprehensive maritime cluster in Norway—one of very few in the world. It is crucial that we maintain favorable, long-term framework conditions, focus on expertise, and invest in green technology if we are to retain our position in global markets," says Solbakken.
A 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 overarching policy will strengthen the international competitiveness of the Norwegian maritime industry.
“The key to successfully strengthening the maritime cluster may lie in a new strategy,” Solbakken concludes.
Key Figures from Vestland (2024)
- Revenue: 151 billion kroner
- Value creation: 55.6 billion kroner
- Employment: 21,330 people
- Share of national value creation: 24%
- Percentage of national employment: 23%
