Norwegian outward FDI and its policy context

Norwegian outward foreign direct investment (OFDI) has increased substantially since the turn of the millennium: the country's stock of US$ 30 billion in 2000 had grown to US$121 billion in 2008, i.e. a 300% increase. That represents a notable average annual growth rate of 19%. But the development of Norwegian OFDI has been rather uneven, with stable periods punctuated by boom years. 2008 ended at the same level as the preceding year, reflecting the cooling down of the world economy as a result of the international financial crisis and recession. The latest available data indicate that OFDI remained in a slump in 2009. As a country with liberal policies regarding companies' foreign activities, the composition of Norwegian OFDI largely follows the structure of Norway's private sector economy, with a striking dominance of the manufacturing, oil and gas and shipping sectors