Data from greenfield investment monitor fDi Markets shows that there has been a steady decline in manufacturing FDI in the Nordic region. The number of manufacturing projects in the region peaked in 2004, when 37 projects were recorded, capital expenditure amounted to $948.6m and 3172 jobs were created. Capital expenditure peaked in 2007, when $2.3bn was invested in Nordic manufacturing.

Between February 2003 and April 2013, a total of 244 FDI projects were recorded in the Nordic manufacturing industry. These projects represent total capital investment of $8.04bn. During the period, a total of 7578 jobs were created.

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Capital expenditure hit its lowest point in the 10-year period between 2003 and 2012 in 2012, when $149.8m was invested in Nordic manufacturing. Between its 2007 peak, and its 2012 low, capital expenditure fell by 93.6%.

The largest source country for Nordic manufacturing FDI in this period was the US, which accounted for 46 projects. Finland was the second largest with 27 projects and Germany third with 25. The US also created the largest number of jobs in the sector, creating 3943 in the time period. Norway ranked second, creating 628 and the UK ranked in third place, creating 615 jobs over the time period.