Value creation

2/21/223:08 PM Iris Ørnhaug

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Northern Norway has had a higher percentage growth in value creation in the last ten years than the country as a whole.

Based on the 2010 level, growth has been strongest in Troms, with an increase of 61.5 per cent. The corresponding figures for Finnmark and Nordland were 56.5 and 48.4 per cent, respectively.

Fisheries and aquaculture are the most important drivers of growth throughout the period, where value creation is particularly high in Nordland.

The northern Norwegian companies in fisheries and aquaculture account for an increasing share of the national value creation in these two industries. In 2019, it accounted for 46 per cent of all value creation in fisheries and 43 per cent in aquaculture.

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Measured in the number of kroner per 1000 inhabitants, the picture is somewhat different. There has still been a growth in turnover in the counties in the North, but the level is well below the national average. But also on this scale, growth is stronger in northern Norway than elsewhere in the country. For Norway as a whole, value creation per 1,000 inhabitants increased by NOK 770 million in the period 2010-2019, while corresponding figures for Troms, Nordland and Finnmark were NOK 1178, 1129 and NOK 953 million per 1,000 inhabitants, respectively.

If we look at fishing and aquaculture, value creation in Troms is most of the time higher than the national average. Developments in northern Norway otherwise roughly follow developments on a national basis.

Measured in the number of kroner per thousand inhabitants, value creation is greatest in energy production, with finance and insurance in second place. Fisheries and aquaculture come in third place when using this scale.