Increased exports despite international trade uncertainty

Regional Network contacts expect growth to remain firm in 2025 Q2 and Q3. International trade barriers are increasing uncertainty, but only a few contacts expect that this will lead to lower growth in the period to autumn. Increased defence investment and higher aquaculture output are boosting growth. Contacts also expect higher sales of durable goods and further growth in tourism. Moreover, a number of construction contacts expect residential construction to pick up somewhat through autumn. The share of contacts reporting capacity constraints is little changed from the previous survey, while the share reporting labour shortages is slightly lower. Contacts expect annual wage growth of 4.5% in 2025 and 4.0% in 2026.

In the previous survey, contacts reported substantial international trade policy uncertainty. Trade tensions have intensified since the interviews in winter, but do not appear to have dampened growth expectations as contacts now expect growth to remain firm through 2025 Q2 and Q3 (Charts 1 and 2). For Q2, export industry contacts and oil service exporters expect the strongest growth while contacts in construction expect the weakest developments and account for the only sector that expects negative growth. For Q3 however, construction contacts expect growth to pick up slightly, while domestically-oriented oil services expect somewhat lower output.

Chart 1 Total output growth

Expected growth current quarter and next quarter. Seasonally adjusted. Percent

Chart 2 Output growth. All sectors

Expected growth current quarter and next quarter. Seasonally adjusted. Percent1

Increased exports boosting growth

Manufacturing contacts expect growth in 2025 Q2 to be the strongest since end-2021. The highest growth is expected in the export market. In aquaculture, favourable biological conditions are providing a substantial boost to output in Q2. Higher output and investment appetite in aquaculture are also boosting order volumes in the service sector. At the same time, lower quotas are leading to a decline in deep-sea fishing, which also reduces the activity levels of fish processors.

Manufacturing contacts report that increased defence spending, both domestically and abroad, boosts activity, but some point out that it will take time for rising defence investment to have a substantial impact on production. The energy transition is still driving growth and creating more jobs in large offshore wind and electricity supply projects. At the same time, a number of contacts report few new orders in renewables, in particular from Norwegian customers. Contacts point to low profitability in these projects and some emphasise lacking clarification regarding subsidy schemes.

Building materials output has fallen considerably in recent years. In this survey, only a few contacts expect further decline, and some expect a rise in autumn. On the other hand, some contacts are concerned that further price rises, on for example timber, will nevertheless dampen demand ahead.

Oil service exporters point to continued global activity growth. Many large projects are underway in for example Brazil and West Africa. Some exports are also to the US, but since these are largely services, they are not affected by the tariffs.

Oil service contacts serving the domestic market expect activity to decline in the period between 2025 Q2 and Q3. Shipyards in particular have undergone a period of very high activity and expect a gradual return to normal levels ahead. This reflects the completion of projects initiated when tax changes were made for the oil industry, which expire this year. Contacts expect few new and large-scale projects ahead but increased activity related to service and maintenance.

Slightly weaker growth in services

Business service providers have lowered their expectations for 2025 Q2 somewhat. A number of contacts report that customers have become more hesitant and cite increased international uncertainty. In addition, growth impulses from the energy transition have weakened, partly as a result of announced amendments to the EU’s Emissions Trading Directive. A number of contacts also point to fewer new offshore wind projects. IT services contacts continue to report growth as a result of increased digitalisation in the private and public sectors. Some service providers also report strong growth in demand from the Norwegian Armed Forces.

Growth among household-oriented service providers is held firm by the sharp rise in the tourism industry. Hotels report high occupancy rates due to many foreign tourists, and the majority expects further growth this summer. Increased tourism also has spillover effects for other parts of the services sector, including higher activity for food, transport and cleaning services. In addition to tourism, contacts report growth in services such as health and wellness and communication and media.

Households buy more consumer durables

Retail trade contacts expect higher sales in 2025 Q2 and Q3. The largest contributor is increased sales of consumer durables such as cars and furniture. Demand for these products has been low since the end of 2022, but contacts also reported improved sales in the previous survey. In addition, contacts that sell consumer goods such as clothing, shoes, food and medicine expect higher sales.

Construction set to stabilise this autumn

Construction contacts still have the weakest expectations and expect output to continue to decline in 2025 Q2. However, they expect to reach a low point in Q3. A number of housing construction contacts report that new home sales have improved, resulting in plans to launch more projects over the course of Q3. Some contacts that entered into the projects early expect higher activity. For many contacts, however, it will take time for the increased number of housing starts to generate growth. Activity remains low in commercial real estate, and contacts do not expect activity to pick up in 2025.

Looking ahead, there will be more defence-related construction projects but contacts point out that it will take time for these projects to lift activity. A number of contacts report higher order volumes from the public sector but emphasise that competition for these orders is also stronger. At the same time, increased demand from manufacturing, in particular maritime industries, lifts activity levels for some contacts.

Decline in investment in 2025

Contacts expect lower investment in 2025 than in 2024 and fairly stable investment in 2026 (Chart 3). Retail trade enterprises overall is the only sector to plan an increase in investment in 2025. Many retail enterprises have invested little in recent years, and a number of contacts report that they will in 2025 make some of the investments that were previously postponed. They expect investment levels to decline somewhat again next year. Among service providers, investment in new commercial real estate in particular contributes to the decline in investment in 2025. Continued high investment costs cause many service providers to postpone investments. Service providers are alone in expecting investment to increase in 2025. For the first time since autumn 2020, manufacturers expect lower investment in the current year, due to many large investment projects now entering their final phase or recently having reached completion. Measures to lower greenhouse gas emissions and automation are still creating growth among some contacts, and some are also investing in higher production capacity, mainly in connection with existing production facilities.

Chart 3 Investment growth

Expected investment growth. Percent2

Some easing of labour market pressures

In this survey, 35% of contacts report that they would not be able to boost activity without hiring or increasing production capacity in other ways (Charts 4 and 5). This percentage is unchanged since the previous survey. At the same time, 23% of contacts, slightly fewer than in the previous survey, report difficulties in recruiting the qualified labour they need to boost activity. Although capacity constraints continue to be most widespread in oil services, they have decreased since 2025 Q1 owing to freed-up resources from the completion of a number of large projects. In services, fewer contacts also report capacity constraints, and some consultancy firms report weaker competition for labour. In construction and retail trade, the percentage of contacts reporting capacity constraints has increased since the previous survey. In construction, the percentage reached its highest level in the past two years, while the percentage in retail trade is the highest since the end of 2022. In retail trade, most contacts report no recruitment difficulties, while in construction, difficulties have increased.

Chart 4 Capacity utilisation3 and labour supply constraints4

Percentage shares

Chart 5 Capacity utilisation5

Percentage shares6

Contacts are planning to increase employment in both 2025 Q2 and Q3. Construction contacts expect employment to fall slightly in Q2. In Q3, however, they are planning to increase workforces for the first time in almost three years, reflecting the higher number of contacts expecting activity to rise towards the end of 2025.

Slightly higher projections for annual wage growth

Contacts expect annual wage growth of 4.5% in 2025 and 4.0% in 2026 (Chart 6). Both projections are somewhat higher compared with the previous survey. For the 2025 projection, a large share of contacts cite the wage norm. Oil services contacts expect the highest wage growth in 2025, partly owing to solid profitability and strong competition for labour. Construction contacts have one of the lowest projections for annual wage growth for 2025, reflecting low order volumes and weak profitability. At the same time, their projections are among the highest for 2026.

Chart 6 Annual wage growth

Expected annual wage growth. Percent7

Overall, profitability among contacts has improved compared with one year ago (Chart 7). Construction contacts as a whole report small changes in profitability since 2024. Contacts have reported declining margins in construction since the start of 2019, and many point out that profitability is weak. Among a number of contacts, despite lower activity, margins have not declined further owing to cost-cutting measures, such as reducing both permanent and contract personnel. In the other sectors, contacts report improved margins.

Chart 7 Overall profitability growth

Change in operating margin in the current quarter compared with the same period one year earlier. Percent

The economic situation is most robust in western Norway

Contacts are asked, on a scale between -3 and +3, how they would rate the economic situation of their enterprise in terms of demand, profitability and prospects. A value of zero indicates a normal situation. The regional indicator is an average of the responses in the individual region. In this survey, only the regions South, South-West and North-West report a positive indicator. High activity in the oil industry in particular is having positive spillover effects in the economy in these regions of Norway, and the economic situation is most robust in the region South-West. On the other hand, the indicators are negative in the regions Central and Inland. A majority of construction-related contacts are among those that pull down the regional indicators in these regions.

Regional indicators

Regional Network – enterprises and organisations interviewed over the past year

1881
3M
3T PRODUKTER
4SERVICE EIR RENHOLD
4SUBSEA
7. HIMMEL
A. HANSEN
A. MARKUSSEN
A-2
AB ØKONOMI
ABB
ABYSS
ACADEMIC WORK
ACCENTURE
ACCOUNTOR
ACEL
ACRYLICON, NORD-NORGE
ACTIVEPEOPLE
ADDSECURE
ADECCO
ADECCO, STAVANGER
ADMENTO
ADRESSEAVISEN
ADV. WIERSHOLM
ADVANSIA AFRY
ADVISO ADVOKATFIRMA
ADVOKATFIRMA KJÆR
ADVOKATFIRMA TOFTE HALD
ADVOKATFIRMAET BAHR
ADVOKATFIRMAET GRETTE
ADVOKATFIRMAET SCHJØDT
ADVOKATFIRMAET THALLAUG
ADVOKATFIRMAET THOMMESSEN
ADVOKATFIRMAET ØVERBØ GJØRTZ
AERO
AF
AFTENPOSTEN
AGAIA
AGNITIO
AGRA
AHLSELL
AIBEL
AIBEL, ASKER
AIBEL, HARSTAD
AIDER, STAVANGER
AIR PRODUCTS
AIRLIFT
AKER SOLUTIONS
AKER SOLUTIONS, EGERSUND
AKER SOLUTIONS, MMO
AKER SOLUTIONS, STORD
AKER SOLUTIONS, VERDAL
AKERSHUSGARTNEREN
AKERSHUSGRUPPEN
AKOFS OPERATIONS
AKSEL ENDRESEN TRANSPORT
AKSELL
AKSELL, KRISTIANSAND
AKSESS BEMANNING
AKTIESELSKAPET VINMONOPOLET
AKTIV BEMANNING
AKTIV EIENDOMSMEGLING
AKVA GROUP
AKVAPLAN-NIVA
AKVARIET I BERGEN
ALCOA
ALCOA, LISTA
ALENTO
ALLER MEDIA
ALLIANCE HEALTHCARE APOTEKDRIFT
ALLNEX
ALLOC
ALPINCO
ALTA MØBLER
ALTERA INFRASTRUCTURE
ALTI FORVALTNING
ALTIBOX
ALUDYNE
ALVDAL SKURLAG
ALVDAL-TYNSET SPORT
AMEDIA
AMESTO SOLUTIONS
AMFI MOA
ANDERS O GREVSTAD
ANDERSEN MEKANISKE VERKSTED
ANDERSEN OG AKSNES RØRLEGGERBEDRIFT
ANGVIK EIENDOM
ANGVIK GRYTNES ENTREPRENØR
ANKO
ANLEGG ØST ENTREPRENØR
ANORA
ANTICIMEX
APOLLO REISER
APOTEK 1
APPETITE FOR PRODUCTION
APPEX
APPLICA
APROPOS INTERNETT
APTUM
AQILA
AQUARAMA BAD
AQUASHIP
ARBOR
ARCHER
ARCTIC PLAST
ARE TREINDUSTRIER, KAUPANGER
ARENA TRENINGSSENTER
ARENDAL BRYGGERI
ARGES
ARK BOKHANDEL
ARKI ARKITEKTAR
ARKITEMA
ARKWRIGHT CONSULTING
ARM
ARNA & ÅSANE RØRLEGGERSERVICE
ARNTZEN DE BESCHE ADVOKATFIRMA
ARTEC AQUA
ARTESIA SPA
ARVID GJERDE
AS BETONG
AS3
ASAP PERSONAL
ASCO, SANDNESSJØEN
ASK MEDIA
ASKO
ASKO, NORD
ASKO, MIDT-NORGE
ASPELIN RAMM EIENDOM
ASPLAN VIAK
AT ARKITEKTUR
ATEA
ATEC BEMANNING
ATELIER EKREN
ATLANTERHAVSPARKEN
AUKSJONEN.NO
AURORA GROUP
AURSTAD
AUTOPLAN
AVANTOR
AVINOR
AVINOR, TRONDHEIM LUFTHAVN
AVINOR, BERGEN LUFTHAVN
AVINOR, STAVANGER LUFTHAVN
AVIS BILUTLEIE
AWORD
BACKE
BACKE, OPPLAND
BACKE, ROGALAND
BACKE, SANDEFJORD
BACKE, SØR
BACKE, TRONDHEIM
BACKERGRUPPEN
BAKEHUSET, NORD-NORGE
BALLANGEN SJØFARM
BALLSTAD SLIP
BAMA
BAMEK
BANDAK
BANESERVICE
BARCO FREDRIKSTAD
BAREL
BARNAS HUS
BARTEC
BATE BOLIGBYGGELAG
BATTERI ELEKTRO
BAUER MEDIA
BAVARIA, NORDVEST
BCD TRAVEL
BECKMANN
BEERENBERG CORP.
BEITOSTØLEN RESORT
BEKK CONSULTING
BELSVIK
BENESTAD SOLUTIONS
BERG BETONG
BERGE SAG
BERGEN ENGINES
BERGEN FIBER
BERGEN KINO
BERGEN PERSONAL
BERGENE HOLM
BERGET
BERG-HANSEN REISEBUREAU
BERG-HANSEN REISEBUREAU, VESTFOLD
BERRY PACKAGING
BERTEL O. STEEN, ROGALAND
BERTELSEN & GARPESTAD
BEST EVENT
BEST GLOBAL LOGISTICS
BETONMAST, INNLANDET
BETONMAST, RØSAND
BEWI INSULATION
BEYONDER
B-G ENTREPRENØR
BIBLIOTEK SYSTEMER A/S
BICO BYGG
BIL I NORD
BIL I NORD NARVIK
BILALLIANSEN
BILECO CAR PARTS
BILFINGER ENGINEERING & MAINT, HØYANGER
BILFINGER ENGINEERING & MAINT, ÅRDAL
BILFINGER INDUSTRIAL SERVICES
BILFINGER, KARMØY
BILSENTERET NAMSOS
BILTEMA
BILTEMA SØRLANDSPARKEN
BIOMAR
BIOSIRK
BITASTAD
BJØRØYA
BLANK
BLIKSUND
BLOCK WATNE
BLOWTECH GT
BLU ELECTRO
BMO ELEKTRO
BMO ENTREPRENØR
BN ENTREPRENØR
BO ANDRÉN
BOA OFFSHORE
BOASSON
BOEN BRUK
BOHUS
BOLAKS
BOLIDEN, ODDA
BOLSETH GLASS
BORREGAARD
BOSS INDUSTRI OG MEKANISK VERKSTED
BOURBON OFFSHORE
BOUVET
BOUVET, ARENDAL
BOUVET, TRONDHEIM
BRAVIDA
BRAVIDA BERGEN
BRAVIDA, FØRDE
BRAVIDA, TRONDHEIM
BREMANGER QUARRY
BREVIK ENGINEERING
BRG
BRIMER
BRITANNIA HOTEL
BRUMUNDDAL REGNSKAP
BRUNVOLL
BRYGGELOFTET & STUENE INVEST
BRØDRENE GUDBRANDSEN
BRØDRENE JAKOBSEN
BRØDRENE SPERRE
BRØDRENE ULVESETH
BSA OFFSHORE
BSH HUSHOLDNINGSAPPARATER
BULLDOZER MASKINLAG ENTREPRENØR
BUNDEGRUPPEN
BUNNPRIS
BUNNPRIS, MØRE
BUSENGDAL
BUSSBYGG
BUSSRING
BWISE
BY NORTH
BYBERG
BYGG OG MASKIN
BYGGIMPULS
BYGGMAKKER
BYGGMAKKER HANDEL
BYGGMESTER SAGEN
BYGGPARTNERE
BYGGSERVICE INNLANDET
BYHAVEN KJØPESENTER
BYKLE VINDU
BYRAA BODØ
BÆRUM RØRLEGGERBEDRIFT
BØRSTAD TRANSPORT
CAPGEMINI
CARANORD
CARGILL AQUA NUTRITION
CARNEGIE
CARPENTER
CARSHINE
CAVERION
CAVERION, BERGEN
CAVERION, GJØVIK
CAVERION, SUNNMØRE
CC DAGLIGVARE
CC GJØVIK OG HAMAR
CEGAL
CELSA ARMERINGSSTÅL
CEMASYS
CEMO
CENIKA
CERMAQ
CFLOW FISH HANDLING
CGG
CGI
CHRISTIANIA RØRLEGGERBEDRIFT
CHRISTIE & OPSAHL
CHSNOR
CITY LADE
CLAMPON
CLARION ERNST HOTELL KRISTIANSAND
CLARION HOTEL ENERGY
CLARKES
CLAS OHLSON
CLASSIC NORWAY
CMS KLUGE ADVOKATFIRMA
COGNIA
COGNITE
COLDWATER PRAWNS PRODUCTION
COLLICARE LOGISTICS
COLOR LINE, KRISTIANSAND
COMFORT HOTEL KRISTIANSAND
COMFORT HOTEL PORSGRUNN
CONCEPT RESTAUTRANTS
CONCEPTOR
CON-FORM
CON-FORM, ORKANGER
CONSTO
CONSTO, MIDT-NORGE
COOP
COOP NORDVEST
COOP NORDVEST, FØRDE
COOP, HORDALAND
COOP, INNLANDET
COOP, MIDT-NORGE
COOP, NORD
COOP, NORDLAND
COOP, SØRVEST
COOP, ØKONOM
COROMATIC
CORONA INTERIØR
COSL
COWI
CRAMO
CRYOGENETICS
CSUB
CTM LYNG
CUROTECH
DALE OF NORWAY
DALEN HOTEL
DANSKE BANK
DARK
DE BERGENSKE
DEDICARE
DEFENDABLE
DEKKTEAM
DELITEK
DELOITTE
DELOITTE, GJØVIK
DELTA ELETRONICS
DELY
DEN NORSKE OPERA & BALLETT
DEVOTEAM
DIALECTA KOMMUNIKASJON
DIALOG EXE
DIGITAL ETIKETT
DINAMO
DNB BANK, NORD
DNB BANK, STAVANGER
DNB EIENDOM
DNB EIENDOM, HAMAR
DNB EIENDOM, TRONDHEIM
DNB EIENDOM, TØNSBERG
DNB NÆRINGSEIENDOM
DNB NÆRINGSMEGLING
DNB NÆRINGSMEGLING, TRONDHEIM
DNB TRONDHEIM
DNH DEN NORSKE HØYTTALERFABRIKK
DNV
DOBLOUG
DOMSTEIN
DRAG INDUSTRIER
DRAMMEN LIFTUTLEIE
DROMEDAR KAFFEBAR
DUPONT NUTRITION
DURI FAGPROFIL
DYNEA
DYRSKUN
DØLAKJØTT
E A SMITH
E I NORD
E. FLASNES TRANSPORT
ECOSØR
EFFEKTIVT RENHOLD
EGENCIA
EGERSUND GROUP
EID ELEKTRO
EIDESVIK OFFSHORE
EIDSVAAG
EIENDOMSHUSET MALLING & CO
EIENDOMSMEGLER 1, INNLANDET
EIENDOMSMEGLER 1, KRISTIANSAND
EIENDOMSMEGLER 1, MIDT-NORGE
EIENDOMSMEGLER 1, NORD-NORGE
EIENDOMSMEGLER 1, SR-EIENDOM
EIENDOMSMEGLER 1, TELEMARK
EIENDOMSMEGLER VEST
EIENDOMSSPAR
EIGEDOMSMEKLING SOGN OG FJORDANE
EIK SERVERING
EIKA
EINAR ØGREY FARSUND
EKORNES
ELAS
ELECTRO TEAM
ELEFUN
ELEKTRO 4
ELEKTRO BODØ
ELEKTRO INSTALLASJON
ELEKTRO-KONTAKTEN
ELEMENT NOR
ELEMENT SØR
ELKEM, BJØLVEFOSSEN
ELKEM, BREMANGER
ELKEM, SALTEN VERK
ELKEM, THAMSHAVN
ELKJØP
ELKJØP, FJORDANE
ELKJØP, FORUS
ELMO TEKNIKK
ELTA RESTAURANTBEDRIFT
EL-TEAM
ELTEL NETWORKS
ELTERAGRUPPEN
EL-TJENESTE
ELVERUM SPORT BILSALG
ENGERS LEFSEBAKERI
ENGØ GÅRD
ENIVEST
ENRX/IPT
ENTRA
ENTRACK
ENTRO
EPAX
EPINOVA
EPIROC
EPLEHUSET
ERAMET, KVINESDAL
ERAMET, SAUDA
EURO SKO
EUROPRIS
EUROSPAR, BRUMUNDDAL
EVENSEN & EVENSEN
EVENSTAD MUSIKK -DISTRIBUSJON
EVERZINC
EVIDIA
EXBO SØRLANDET
EXPLORO
EXTRA LEKER
EY
EY, BERGEN
EY, SUNNMØRE
F8 BYGG
FABELAKTIV
FABER BYGG
FABI
FAGTRYKK
FARRIS BAD
FAUN
FELLESKJØPET, ROGALAND AGDER
FENIX OUTDOOR
FERDA
FIGGJO
FINN OG ALBERT EGELAND
FINNEID SVEISEVERKSTED
FINNFJORD
FINNY SIREVAAG
FINNØY GEAR & PROPELLER
FIRDA BILLAG
FIRDA MEDIA
FIRESAFE
FIRING &THORSEN
FIRMENICH BJØRGE BIOMARIN
FIRST HOUSE
FISKERSTRAND VERFT
FISKÅ MØLLE
FIVEN
FIXIT 24
FJELDSETH
FJELLSPORT.NO
FJORD1
FJORDKJØKKEN
FLAKK
FLEKKERØY VVS
FLISA TRYKKERI
FLISEKOMPANIET
FLOKK
FLUID CONTROL SERVICE
FLYTOGET
FLØIBANEN
FOCUS CARE
FOKUS ELEKTRO
FOLK
FOOD FOLK
FOODMAN
FOODORA
FOODTECH INTERIØR OG STORKJØKKEN
FORCE TECHNOLOGY, KRISTIANSAND
FORD MOTOR
FORENOM
FORESTIA
FORMUE
FOSDALEN
FOSS FABRIKKER
FOURPHASE
FPE SONTUM
FRAM REVISJON
FRAMO
FRAMSIKT
FRANZEFOSS MINERALS
FRANZEFOSS PUKK
FREJA TRANSPORT AND LOGISTICS
FREMTIND FORSIKRING
FRENDE FORSIKRING
FRESH FITNESS
FRONTLINE POS
FRYDENBØ BIL
FRYDENBØ BIL FØRDE
FRYDENBØ INDUSTRI ØKSFJORD
FRØY
FSV
FUGLEFJELLET
FUGRO
FUNDAMENTERING – FAS
FURNES JERNSTØPERI
FURSET
FURSTÅL
FUTURE PRODUCTION
FÆDRELANDSVENNEN
FØRDE SEMENTVARE
FØRRE TREVAREFABRIKK
G3 GAUSDAL TREINDUSTRIER
GAGAMA ELEKTRO
GALVANO INDUSTRI
GANN TRE
GANT RETAIL
GAST ENTREPRENØR
GAUPEN-HENGER
GAUPNETUNET HOTELL & HYTTER
GAUSDAL LANDHANDLERI
GC RIEBER VIVOMEGA
GE HEALTHCARE, SPANGEREID
GE VINGMED ULTRASOUND
GEILOGRUPPEN
GET INSPIRED
GEXCON
GIGANTE HAVBRUK
GILJE TRE
GINA TRICOT
GJENSIDIG ASSURANSEFORENING
GJENSIDIGE FORSIKRING
GJØCO
GJØVIK GRAVESERVICE
GK
GK, LILLEHAMMER
GKN AEROSPACE
GLACIO
GLAMOX
GLAVA
GLENCORE NIKKELVERK
GLOBALCONNECT
GLOMMA PAPP
GLØR PARTNER
GLÅMDALEN
GMC
GNIST ARKITEKTER
GOKSTADAPOTEKENE
GOODTECH
GORINES
GRADE JOBBNORGE
GRAND HOTELL EGERSUND
GRANDE ENTREPRENØR
GRAPE ARCHITECTS
GREEN H
GREEN MOUNTAIN
GRIEG SEAFOOD, FINNMARK
GRILSTAD
GRILSTAD, BRUMUNDDAL
GRILSTAD, STRANDA
GROMSTAD AUTO
GROTNES STEEL
GRUNN-SERVICE
GRØNSBERG BYGG
G-TRAVEL
GUDBRANDSDAL ENERGI
GUDBRANDSDALENS ULDVAREFARBRIK
GULLSMED J. FRISENBERG
GUMPEN
GUNNAR HIPPE PLATE OG SVEISEVERKSTED
GUNNAR KLO
GUNVALD JOHANSEN HANDEL
GYLDENDAL
H & K SANDNES
H. MYDLAND
HAGEN
HALLGRUPPEN
HALLIBURTON
HALLINGPLAST
HALOGEN
HAMMERFEST INDUSTRISERVICE
HANDELSBANKEN
HANDELSBANKEN, TRONDHEIM
HANS H. IVERSEN
HANSEN OG JUSTNÆS
HAPLAST
HAREID GROUP, BYGG & INDUSTRI
HAREID GROUP, FORBRUKERELEKTRONIKK
HAREID GROUP, MARITIM INDUSTRI
HARRIS ADVOKATFIRMA
HARSTAD MASKIN
HARSTAD MEK. VERKSTED
HAUCON
HAUGESUND SPAREBANK
HAV EIENDOM
HAV GROUP
HAV LINE
HAVER ADVOKATFIRMA
HAVFRAM
HAVILA SHIPPING
HAVILA SUBSEA & RENEWABLES
HD HYUNDAI INFRACORE
HEAD ENERGY
HEATWORK
HEGSTAD & BLAKSTAD
HEIDELBERG MATERIALS SEMENT
HEIDELBERG MATERIALS TILSLAG
HEIMDAL BOLIG
HEIMDAL EIENDOMSMEGLING
HEIMSTADEN
HELEN & HARD
HELGE KLYVE
HELGELAND MARINASYSTEMER
HELGELAND PLAST
HELGELANDSBASE
HELGESEN TEKNISKE BYGG
HELLENES INDUSTRIER
HELLY HANSEN
HELP FORSIKRING
HEMMINGODDEN LOFOTEN FISHING LODGE
HENDUG BYGG
HENNIG-OLSEN IS
HENT
HEPRO
HERLIGE STAVANGER RESTAURANTER
HERREGALLERIET
HERTZ
HESSELBERG
HEXAGON RAGASCO
HEYMAT
HG BYGG
HIGHSOFT
HITEC PRODUCTS
HK TROMSØ REKLAMEBYRÅ
HMH
HOB GODS
HOEL GÅRD PLUSS
HOFSETH INTERNATIONAL
HOLBERG FORVALTNING
HOLDBART
HOLE ANLEGG
HOLMØY MARITIME
HOLTE CONSULTING
HORISONT ENERGI
HOTEL ALEXANDRA
HOTEL UNION GEIRANGER
HOTEL VICTORIA
HOTELL VIC
HOTELLDRIFT ÅLESUND
HOVDEN HYTTESERVICE
HOVE WEST
HOVLI AUTO
HRL
HSH ENTREPRENØR
HTH
HTS DYNAMICS
HUNDERFOSSEN FAMILIEPARK
HUNTER DOUGLAS
HUNTON FIBER
HUNTONIT
HURTIGRUTEN
HUSTAD MØBLER
HYDAL ALUMINIUM PROFILER
HYDRO
HYDRO EXTRUSION
HYDROLIFT
HÆHRE ENTREPRENØRER
HØGEVARDE
HÅ ELEMENT
HAALAND NORD
HÅNDVERKSGRUPPEN
I P HUSE
IBIZA BOATS
ICOPALTAK
IGLAND GARASJEN
IGLO MANO
IK
IKEA
IKEA, FORUS
IKEA, LEANGEN
IKEA, RINGSAKER
IKEA, ÅSANE
IKM
IKM ACONA
IMPEC
IMPULSE TRENINGSSENTER
IMS
IMS TECHNOLOGIES
INDIRA
INDUSTRIVISUALISERING
INGENIØR IVAR PETTERSEN
INISSION LØKKEN
INNOMHUS
INNOVA
INNOVENTI
INNTRE
INNVIK
INOVYN
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INRIGO
INSENTI
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INSPIRIT365
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INTERFIL
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ISIFLO
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ISOLA
ISS FACILITY SERVICES
ITAB INDUSTRIER
ITEAM
ITERA
IV GROUP LEKSVIK
IZOMAX
J H NÆVDAL BYGG
JANGAARD EXPORT
JANSEN OG WILLUMSEN SERVICES
JANUSFABRIKKEN
JARO
JC DECAUX
JESL
JM
JM HANSEN
JM ROBOTICS
JOHAN KJELLMARK
JOHN GREGER
JOHS J SYLTERN
JOTRON
JOTUN
JULA
JULIUS JAKHELLN
JÆGER SENTRUM
JÆRBAKEREN ARNE JOHANNESEN
JÆREN SPAREBANK
K A RASMUSSEN
K EKRHEIM
K. LUND
K. NORDANG
KAEFER ENERGY
KAFFEBØNNA
KANFA
KANTEGA
KAPPAHL
KARABIN
KARMSUND GROUP
KARSTEN MOHOLT
KAVLI
KB ARKITEKTER
KCA DEUTAG DRILLING
KELLER GEOTEKNIKK
KELLY SERVICES
KEWA INVEST
KICKS
KID INTERIØR
KIMEK
KINN BRYGGERI
KITCH'N
KIWI
KLETOR
KLP EIENDOM
KLP EIENDOM, TRONDHEIM
KNOWIT OBJECTNET
KNOWIT, KRISTIANSAND
KOMPLETT
KONGEPARKEN
KONGSBERG AUTOMOTIVE, RAUFOSS
KONGSBERG ENTREPRENØR
KONGSBERG GRUPPEN
KONGSBERG MARITIME, TRONDHEIM
KONGSBERG MARITIME, ÅLESUND
KONGSBERG TEKNOLOGIPARK
KONKURRENTEN
KPMG
KPMG, TRONDHEIM
K-PRODUKSJON
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KRAGERØ RESORT
KRANPROFFEN
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KROGSVEEN
KROGSVEEN, HAMAR
KROKEN CARAVAN
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KVALE ADVOKATFIRMA
KVENNA
KVERNELAND
KVITNES DRIFT
KYSTDESIGN
LAB
LABORA
LAERDAL MEDICAL
LAG ENTREPRENØR
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LARSNES MEK VERKSTED
LEBA
LEFDAL MINE DATACENTER
LEIRVIK
LEIV SAND TRANSPORT
LENDO
LEONHARD NILSEN & SØNNER
LERUM
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LERØY SEAFOOD
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LIAN VINDUER
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LILLRENT
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LINK ARKITEKTUR
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LITRA GASS
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LMG MARIN
LOCALHOST
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LOS
LOVUNDLAKS
LOYDS INDUSTRI
LPO ARKITEKTER
LUCKY BOWL
LUNDAL NORD
LUNDHS
LYRECO
LØPLABBET
LØVLIEN GEORÅD
LØVOLD
LAADER BERG
MADLA HANDELSLAG
MADSHUS
MAGNETEN KJØPESENTER
MAGNUS M. THUNESTVEDT
MAKING VIEW
MANDAL HOTEL
MANPOWER
MANPOWER, TRONDHEIM
MANTENA
MARBRE EIENDOM
MARINE INSTALLASJONER
MARINE TECHNOLOGIES LLC
MARITIM CENTER
MARITIM SVEISESERVICE
MARITIME PARTNER
MARNAR BRUK
MARTHES RENSERI
MARTIN M. BAKKEN
MASCHMANNS
MASCOT HØIE
MASKE
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MAT & DRIKKE
MBA ENTREPRENØR
MCC LABEL
MEDIABRANDS
MEDIEHUSET HAUGESUNDS AVIS
MEDIEHUSET STAVANGER AFTENBLAD
MEKONOMEN
MELBU SYSTEMS
MELHUS SPAREBANK
MENTO
MENTO, HAMMERFEST ENGROS
MESTA
MESTER GRØNN
MESTERGRUPPEN ARKITEKTER
METALLTEKNIKK
MEYERSHIP
MIELE
MILES, STAVANGER
MINDSHARE
MINTRA
MJØRUD
MM KARTON FOLLACELL
MMC FIRST PROCESS
MOELVEN BYGGMODUL
MOELVEN LIMTRE
MOELVEN MODUS
MOELVEN VAN SEVEREN
MOELVEN WOOD
MOI RØR
MOMEK
MONGSTAD TAVLETEKNIKK
MONTEL
MONTÉR, LYNGDAL
MONTERA
MORELD APPLY
MOSAIQUE
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MOWI
MOWI FEED
MRC GLOBAL
MULTI MARITIME
MULTI-BYGG
MULTICONSULT
MULTICONSULT, BERGEN
MULTICONSULT, STAVANGER
MUR I SØR
MURMESTER DAG ARNE NILSEN, SEM
MUSEENE I SØR-TRØNDELAG
MUSTAD AUTOLINE
MYSTORE.NO
MØBELGALLERIET TROMSØ
MØBELRINGEN
MØBELTRE
MØLLER BIL
MØLLER BIL, LARVIK
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MØRE DRIFT
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MØRENOT AQUACULTURE
MÅLSELV MASKIN & TRANSPORT
MAALØY SEAFOOD
MÅSØVAL FISKEOPPDRETT
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NAMMO
NARVIKFJELLET
NAUSTDAL DAMPBAKERI
NEDIG
NEKTON
NEMKO
NERGÅRD
NESSEPLAST
NETTPARTNER
NEUMANN BYGG, TROMSØ
NEXANS
NICRO
NILLE
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NILSSON
NOBIA
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NOEN
NOFI TROMSØ
NOHA
NOMEK
NORCABEL
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NORCONSULT, TRONDHEIM
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NORDBØ MASKIN
NORDEA, KRISTIANSAND
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NORSEA
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NORSK TEKNISK MUSEUM
NORSK TIPPING
NORSKE BACKER
NORSKE SKOG, SKOGN
NORSOL
NORTHERN LIGHTS
NORTRANSPORT
NORTURA
NORTURA, FORUS
NORTURA, FØRDE
NORWEGIAN
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NOS
NOTABENE ENGROS
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NOV
NOV, APL
NOV, MOLDE
NOVA INTERIØR
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NRC
NSE FAGSTILLAS
NSK SHIP DESIGN
NSW
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NUSFJORD DRIFT
NUTRIMAR
NY FRISØR OG VELVÆRE
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NYMO
NYMO BIL
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NÆRINGSMEGLEREN SÆDBERG OG HODNE
NØSTED KJETTING
O. MUSTAD & SON
OBOS
OCEAN ELECTRONICS
OCEAN SUPREME
OCEANEERING
OCEANEERING ROTATOR
ODAL SPAREBANK
ODDA PLAST
ODDA TECHNOLOGY
ODEON KINO, STAVANGER OG SANDNES
ODFJELL DRILLING
OEG OFFSHORE
OFFSHORE & TRAWL SUPPLY
OK MARINE
OLAV THON EIENDOMSSELSKAP
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OLAV THON SURNADAL, VAREHANDEL
OLYMPIC SUBSEA
OMD
OMEGA 365
OMYA HUSTADMARMOR
ONESUBSEA PROCESSING
ONNINEN
ONRAIL
OPS MEKANISKE
OPTIMERA, SØR
OPTIMERA, VEST
OPUS
ORICA
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ORKEL
ORKLA FOODS
ORKLA FOODS, TORO ELVERUM
OS ID
OSC
OSHAUG METALL
OSKAR PEDERSEN
OSKAR SYLTE MINERALVANNFABRIKK
OSLAND HAVBRUK
OSM THOME LTD
OSS-NOR
OSTEHUSET
OSWO
OTOVO
OTTADALEN MØLLE
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OTTS
OVE SKÅR
OVERHALLA BETONGBYGG
OXER EIENDOM
P4
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POSTEN
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PROACTIMA
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PSW
PETROLEUM TECHNOLOGY COMPANY
PTG
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PWC
PWC, NORDVEST
PWC, TRONDHEIM
PAA BORDET
PÅ HÅRET FRISØR
Q4 NÆRINGSMEGLING
Q-FREE
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QUALITY HOTEL, GRAND KRISTIANSUND
QUALITY HOTEL, STRAND GJØVIK
QUALITY HOTEL, WATERFRONT ÅLESUND
RADISSON BLU ATLANTIC HOTEL, STAVANGER
RADISSON BLU CALEDONIEN HOTEL, KRISTIANSAND
RAMBØLL, MIDT-NORGE
RAMCO
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RANA GRUBER
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RANDEM & HÜBERT
RANDSTAD
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RAPP BOMEK
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RAUFOSS TECHNOLOGY
REITAN EIENDOM
REKEFJORD STONE
REKLAMESTASJONEN
REM OFFSHORE
REMA 1000
REMA 1000, VEST
RENEX
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RENTAL ONE
RESPONS ANALYSE
RESPONSE NORDIC
RESQ GRIMSTAD
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RSM
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SCALE AQUACULTURE
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SD WORX
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SERVIT CATERING
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SG ARMATUREN
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SIEMENS, DIGITAL INDUSTRIES
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SIKTEDUKFABRIKKEN
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SJ
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SKALA FABRIKK, TRONDHEIM
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SKANSKA
SKANSKA, AGDER
SKANSKA, MIDT
SKANSKA, STAVANGER
SKARPNES
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SPAR KJØP
SPAREBANK 1
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SPAREBANK 1 SMN
SPAREBANK 1 SR-BANK
SPAREBANK 1, BODØ
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SPAREBANK 1, ØSTLANDET
SPAREBANK 68 GRADER NORD
SPAREBANK1, NORD-ØSTERDAL TYNSET
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SPEIRA
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STRAUMEN BIL
STRAWBERRY
STRAWBERRY, BRYGGEPARKEN
STRONGPOINT
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STRYVO, BISMO
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STS
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T FJELLAND & CO
TAKEDA
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TEAM HELGELAND
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TELLUS EIENDOM
TEMA EIENDOM
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TESS, NORD
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TGS
TH. FALKANGER
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THEVIT
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THON HOTELS
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TIBE REKLAMEBYRÅ
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TOYOTA
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TRAFIKKJENTENE
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TRY REKLAMEBYRÅ
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TT ANLEGG
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TV 2
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TØNSBERG BLAD
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X5 ELEKTRO
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ÆVENTYR 1
Ø M FJELD
ØDEGAARD ENGROS
ØGLÆND INDUSTRIER
ØKSFJORD FISKEINDUSTRI
ØSTBØ
ØSTER HUS
ØSTRAADT RØR
ØVREBERG INSTALLASJONSFORRETNING
ÅLGÅRD OFFSET
ÅLHYTTA
AARBAKKE
ÅRDAL MASKINERING
AARSLAND MØBELFABRIKK
ÅSEN & ØVRELID