The Treasurer’s Guide to Trade Finance

(Martin Jones) #1

Norway


Principal exports


Petroleum and petroleum products, machinery
and equipment, metals, chemicals, ships and fish.


Import/Export documentation


ƒ Commercial invoice (with complete
description of goods to be imported/
exported), bill of lading, packing list and,
sometimes, a certificate of origin.


Licences


Imports


ƒ Certain agricultural products, alcohol,
tobacco, pharmaceuticals and armaments.


ƒ Import licences with quotas: certain items
are subject to import licences with quotas.


ƒ Goods subject to additional controls: certain
items are subject to additional controls due
to environmental, health, safety, sanitary and
phytosanitary reasons.


Exports


ƒ Goods/items that are subject to international
controls.


ƒ Export licences are also required for exporting
certain strategic and agricultural products.


Tariffs/Taxes
Imports
ƒ In accordance with the EEA free trade
agreement and other preferential trade
agreements, the majority of imports are
tax-free.
ƒ Duties and tariffs are not generally levied
on items imported from the world’s least
developed countries.
ƒ Non-agricultural imports are subject to lower
tariffs than agricultural imports.
Exports
ƒ Some exports, including fish and fish
products, are subject to export taxes of
1.05 percent.
ƒ Most exports are also subject to a research
and development duty of 0.3 percent.

Financing requirements for imports/
exports
ƒ None.

Prohibited items
ƒ Imports that are prohibited for environmental,
national security, or for moral reasons.
ƒ Additional items prohibited from import:
rough diamonds and timber from Liberia and
cultural items from Iraq.
ƒ Exports that are prohibited in accordance
with UN Security Council resolutions. The
majority of restrictions concern weapons.

Norway imports exports


Trade information


Key trading partners


Imports by origin


EU 62.8%
China 9.1%
USA 5.4%
Canada 4.1%
South Korea 2.7%
Other 15.9%

Source: WTO, September 2012


Exports by destination

EU 81.2%
USA 5.6%
China 1.8%
Canada 1.6%
Japan 1.2%
Other 8.6%
Free download pdf