Growth in sales of capital goods

Sales of Norway's capital goods-producing industries totalled NOK 17 billion in July and August 1998. This is an increase of 17.6 per cent from the same period in 1997. On the other hand, the oil and gas and electricity supply industries saw their turnover decline by 24.5 per cent.

Oil and gas extraction, manufacturing, mining and quarrying and electricity supply sales amounted to NOK 104 billion in July and August 1998. This is a decline of just over five per cent compared with the same period the year before. The oil and gas extraction and electricity sectors reported a decline in turnover due to lower prices. During the same period manufacturing industries saw a 7.5 per cent increase in turnover, with capital goods-producing sectors such as shipyards and the engineering industry reporting strong growth.

Higher turnover in manufacturing

Most manufacturing industries had a higher turnover in July and August 1998 than during the same period in 1997. Sales in the oil platform industry increased the most, by around 40 per cent. The increase is primarily due to a number of technical circumstances in reporting figures to the county tax offices. Sales in the machinery and equipment industry and electrical and optical industry also increased sharply during the same period. Several export-oriented industries in the processing industry also saw an increase in turnover, partly because of exchange rate changes.

New Statistics
Statistics on turnover. Oil and gas extraction, mining and quarrying, manufacturing and electricity supply, July/August 1998.
The statistics are published every other month in the Weekly Bulletin of Statistics. For more information contact: Pal.Bakken@ssb.no, +47 21 09 47 46.

Weekly Bulletin issue no. 3, 1999