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Norwegian exports decline in 2024 after many years of strong growth

The Norwegian design industry in furniture, interiors, sports equipment, textiles and clothing experienced an export decline of -2.4 percent in 2024. Nevertheless, there has been growth of 54 percent in the last five years.


Photo: Dreamstime.

The largest export groups are furniture, clothing, textiles and lighting products. In 2024, textile exports decreased by -10.4 percent, furniture by -2.4%, while exports of clothing and lighting increased by just over 10%.

'Export growth for Norwegian design has increased by 90% over the last 10 years, and in all years after 2016 exports have increased, with the exception of 2024,' says industry manager Egil Sundet at the Confederation of Norwegian Industries, Design Industry & Teko.

'There are very few Norwegian export industries that have had such growth during this period,' says industry manager Sundet, and for now 2024 seems to be a natural correction. In January 2025, we see an export increase of almost 5 percent, but it is still too early to draw conclusions about the year as a whole.

Imports of the same goods have grown nominally by 27 percent over the past five years, i.e. half the export growth. The most important export countries for Norwegian design products are Sweden, Denmark, Germany and the USA, but the Netherlands and the UK are also important.

Furniture exports, which make up the largest share of design exports, fell by -2.8 percent in 2024. Furniture imports to Norway also fell by -1.8 percent. The main reason for the decline is weak demand, both in export markets and in the domestic market. However, exports to the United States, which is the most important export market for furniture, increased by over 9 percent in 2024.

The export figures in the figure are nominal, minus price increases and the effect of the krone depreciation, the growth in the 10-year period is 60%. However, it is difficult to calculate the effect of the krone depreciation as it has an effect on both exports and imports, and for the sub-industries there is a lot of purchasing of components and parts into Norwegian production.

More information:
Norsk Industri
[email protected]
www.norskindustri.no

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