Increased manufacturing turnover

Published:

Seasonally-adjusted figures showed that the total turnover in Norwegian manufacturing increased by 1.9 per cent from December 2016 to February 2017 compared to the previous three-month period. However, it was almost unchanged from January 2017 to February 2017, according to new figures for Turnover in oil and gas, manufacturing, mining and electricity supply.

The index value for turnover in manufacturing was 137,5 (2005=100) in the period December 2016 to February 2017, compared to 134.9 in the previous three-month period, according to seasonally-adjusted figures.

Figure 1. Index of turnover for manufacturing. Seasonally adjusted. Three-month moving average¹. 2005=100

Three-month moving average
Jan. 2007 134.7
Feb. 2007 134.9
Mar. 2007 138.1
Apr. 2007 140.1
May 2007 143.4
June 2007 143.3
July 2007 140.8
Aug. 2007 140.7
Sep. 2007 139.1
Oct. 2007 141.3
Nov. 2007 141.7
Dec. 2007 142.9
Jan. 2008 144.5
Feb. 2008 145.8
Mar. 2008 145.6
Apr. 2008 146.2
May 2008 146.8
June 2008 149.4
July 2008 151.3
Aug. 2008 151.5
Sep. 2008 152.4
Oct. 2008 150.3
Nov. 2008 148.2
Dec. 2008 144
Jan. 2009 142.5
Feb. 2009 141.3
Mar. 2009 142
Apr. 2009 139.5
May 2009 137.2
June 2009 133.5
July 2009 132.8
Aug. 2009 134
Sep. 2009 135.9
Oct. 2009 137
Nov. 2009 137.1
Dec. 2009 137.4
Jan. 2010 137.1
Feb. 2010 136
Mar. 2010 135.1
Apr. 2010 135.5
May 2010 136.3
June 2010 137.5
July 2010 138.2
Aug. 2010 136.8
Sep. 2010 134.5
Oct. 2010 134.7
Nov. 2010 137.3
Dec. 2010 138.3
Jan. 2011 137.4
Feb. 2011 136.6
Mar. 2011 135.4
Apr. 2011 136.7
May 2011 136.4
June 2011 137.9
July 2011 136.7
Aug. 2011 136.2
Sep. 2011 136.1
Oct. 2011 137.1
Nov. 2011 139.1
Dec. 2011 141.6
Jan. 2012 143.4
Feb. 2012 144
Mar. 2012 143.8
Apr. 2012 142.7
May 2012 143.2
June 2012 142.8
July 2012 143.8
Aug. 2012 143.6
Sep. 2012 144.9
Oct. 2012 145
Nov. 2012 145.8
Dec. 2012 145.4
Jan. 2013 146.6
Feb. 2013 145.5
Mar. 2013 146.7
Apr. 2013 146
May 2013 146.2
June 2013 147.5
July 2013 150.9
Aug. 2013 153.6
Sep. 2013 153.9
Oct. 2013 152.1
Nov. 2013 151.7
Dec. 2013 151.2
Jan. 2014 150.2
Feb. 2014 151.1
Mar. 2014 150
Apr. 2014 151.7
May 2014 150.3
June 2014 149.4
July 2014 148.3
Aug. 2014 151
Sep. 2014 151.2
Oct. 2014 151.7
Nov. 2014 150.7
Dec. 2014 152.3
Jan. 2015 150.2
Feb. 2015 149.9
Mar. 2015 150.8
Apr. 2015 153.1
May 2015 152
June 2015 150.3
July 2015 148.6
Aug. 2015 148.5
Sep. 2015 147.8
Oct. 2015 147.7
Nov. 2015 145
Dec. 2015 144.1
Jan. 2016 141.9
Feb. 2016 140.2
Mar. 2016 138.4
Apr. 2016 137.8
May 2016 139.3
June 2016 139.2
July 2016 138.7
Aug. 2016 137
Sep. 2016 136.3
Oct. 2016 135.3
Nov. 2016 134.9
Dec. 2016 134.3
Jan. 2017 136.1
Feb. 2017 137.5

Three-month change: notable rise in the industry grouping refined petroleum, chemicals and pharmaceuticals

The total turnover increased by 1.9 per cent from December 2016 to February 2017, compared to the previous three-month period. The biggest contribution to the increase came from the grouping refined petroleum, chemicals and pharmaceutical products, with an increase of 38 per cent. An increase in prices of refined petroleum products of 18 per cent in the same period contributed to the increase in the turnover for this grouping. Other industries that reported increase in turnover in the same period but with less impact was:

  • Basic metals
  • Repair, installation of machinery

Figure 2. Selected industries. Seasonally adjusted. Three-month moving average¹

Food, beverages and tobacco Refined petro. chemicals, pharmac. Basic metals Ships, boats and oil platforms Machinery and equipment
Jan. 2011 144.3 152.4 121.6 126.9 187.1
Feb. 2011 145.1 151.4 124.0 120.9 171.2
Mar. 2011 145.6 148.6 120.9 113.3 173.7
Apr. 2011 147.2 149.7 120.3 124.2 165.5
May 2011 146.2 151.4 120.8 120.7 174.5
June 2011 148.0 146.0 118.5 121.0 170.7
July 2011 146.0 144.9 120.0 105.9 174.1
Aug. 2011 148.2 139.9 118.6 103.0 166.3
Sep. 2011 149.4 144.0 120.3 103.5 173.4
Oct. 2011 150.8 146.7 117.6 106.4 177.2
Nov. 2011 151.9 151.1 113.8 118.9 180.2
Dec. 2011 151.1 152.3 109.9 128.4 195.0
Jan. 2012 153.4 152.3 108.9 141.0 197.5
Feb. 2012 154.6 152.6 108.4 142.7 202.5
Mar. 2012 159.9 155.6 110.1 135.0 197.0
Apr. 2012 158.7 155.8 108.8 129.1 202.0
May 2012 158.9 154.1 106.8 137.0 212.5
June 2012 155.2 147.4 104.9 145.5 210.8
July 2012 156.0 146.8 103.9 154.5 210.7
Aug. 2012 155.5 153.1 104.4 140.5 206.5
Sep. 2012 155.3 158.3 99.6 147.3 215.0
Oct. 2012 153.6 156.9 98.1 142.9 227.5
Nov. 2012 154.2 151.1 97.6 153.3 229.4
Dec. 2012 158.1 151.9 100.0 142.9 229.6
Jan. 2013 160.8 154.9 98.7 147.3 236.2
Feb. 2013 160.7 156.8 96.8 134.3 238.7
Mar. 2013 160.1 156.4 96.4 136.3 235.3
Apr. 2013 162.0 153.6 95.6 126.5 233.6
May 2013 165.8 149.4 95.2 134.8 240.2
June 2013 166.4 146.2 92.5 139.8 261.5
July 2013 169.3 147.2 92.3 160.7 271.0
Aug. 2013 170.0 151.1 91.6 161.3 274.6
Sep. 2013 170.5 158.5 92.8 157.3 275.3
Oct. 2013 169.9 157.0 92.6 142.0 264.8
Nov. 2013 168.3 155.9 93.2 142.7 279.0
Dec. 2013 170.2 150.6 94.2 147.1 277.0
Jan. 2014 168.1 152.7 96.1 143.9 274.7
Feb. 2014 168.5 152.7 96.5 156.5 265.3
Mar. 2014 166.1 148.9 95.4 161.8 257.7
Apr. 2014 170.4 146.6 94.8 166.6 266.1
May 2014 171.3 144.3 94.1 155.4 262.4
June 2014 172.4 142.1 96.4 149.8 270.2
July 2014 170.6 139.5 97.8 143.4 276.1
Aug. 2014 171.9 136.8 101.7 151.9 308.4
Sep. 2014 172.7 134.6 101.6 150.5 307.6
Oct. 2014 173.0 132.6 104.5 161.9 305.9
Nov. 2014 173.9 135.2 104.9 158.5 289.6
Dec. 2014 175.6 134.6 109.8 156.5 296.6
Jan. 2015 177.6 129.6 110.8 140.0 304.7
Feb. 2015 177.3 123.5 113.5 142.4 306.9
Mar. 2015 177.1 126.9 112.9 140.2 317.6
Apr. 2015 177.9 129.6 113.9 155.8 307.4
May 2015 178.2 130.6 112.9 148.6 302.6
June 2015 178.5 131.4 112.5 143.4 283.4
July 2015 178.5 131.7 111.0 136.1 273.3
Aug. 2015 180.1 129.5 110.2 134.7 263.4
Sep. 2015 179.9 131.9 109.0 134.4 255.2
Oct. 2015 181.2 134.7 104.4 122.5 255.9
Nov. 2015 182.7 137.4 102.8 110.6 241.0
Dec. 2015 185.7 132.9 100.5 113.7 235.7
Jan. 2016 187.0 126.2 101.4 121.3 221.9
Feb. 2016 190.9 117.0 101.0 119.6 211.2
Mar. 2016 193.1 111.1 101.3 111.0 203.9
Apr. 2016 193.9 108.6 101.6 105.2 196.6
May 2016 192.6 113.2 101.0 113.0 190.9
June 2016 193.2 114.1 102.2 116.1 172.2
July 2016 193.5 113.6 104.4 112.8 166.3
Aug. 2016 193.5 112.8 105.0 103.5 162.2
Sep. 2016 193.9 106.1 105.6 101.0 168.5
Oct. 2016 195.0 101.9 103.3 101.9 161.6
Nov. 2016 195.9 96.7 105.0 106.3 146.8
Dec. 2016 196.2 102.1 105.2 101.7 130.9
Jan. 2017 197.1 120.7 108.7 97.3 125.3
Feb. 2017 197.5 133.8 111.7 88.9 128.6

The oil related industries ships, boats and oil platforms and machinery and equipment however, edged down by 16 and 12 per cent respectively. Looking at how the turnover has developed within the petroleum-related manufacturing, a fall in turnover has been recorded since the start of 2015 as a consequence of the reduced level of investments in the oil and gas industry. For more details about the development in the petroleum-related manufacturing the last years, see the article about the effects of oil and gas investments on industrial production (only in Norwegian).

Figure 3. Indicator for petroleum-related industries. Seasonally adjusted. Three-month moving average¹. 2005=100

Industri Petroleumsrettet leverandørindustri Industri unntatt petroleumsrettet leverandørindustri
Jan. 2011 137.4 151.8 132.8
Feb. 2011 136.6 146.8 133.8
Mar. 2011 135.4 147.0 132.0
Apr. 2011 136.7 149.8 133.0
Mai 2011 136.4 150.6 132.8
Juni 2011 137.9 150.3 134.3
Juli 2011 136.7 145.9 133.8
Aug. 2011 136.2 144.5 132.9
Sep. 2011 136.1 144.8 133.2
Okt. 2011 137.1 148.1 133.5
Nov. 2011 139.1 153.7 134.0
Des. 2011 141.6 164.8 134.3
Jan. 2012 143.4 171.0 134.7
Feb. 2012 144.0 173.7 135.3
Mar. 2012 143.8 169.2 136.2
Apr. 2012 142.7 166.3 135.9
Mai 2012 143.2 170.7 134.8
Juni 2012 142.8 172.8 133.8
Juli 2012 143.8 177.9 133.5
Aug. 2012 143.6 172.2 135.0
Sep. 2012 144.9 177.6 134.6
Okt. 2012 145.0 180.9 133.8
Nov. 2012 145.8 186.9 132.7
Des. 2012 145.4 184.1 133.7
Jan. 2013 146.6 184.3 134.8
Feb. 2013 145.5 181.6 134.6
Mar. 2013 146.7 183.4 134.9
Apr. 2013 146.0 183.4 134.5
Mai 2013 146.2 186.5 134.0
Juni 2013 147.5 193.9 133.5
Juli 2013 150.9 204.3 134.8
Aug. 2013 153.6 208.9 136.9
Sep. 2013 153.9 206.1 137.9
Okt. 2013 152.1 198.7 137.6
Nov. 2013 151.7 199.1 136.8
Des. 2013 151.2 200.3 136.1
Jan. 2014 150.2 195.7 135.8
Feb. 2014 151.1 201.1 135.5
Mar. 2014 150.0 201.8 133.3
Apr. 2014 151.7 207.8 134.2
Mai 2014 150.3 203.9 134.0
Juni 2014 149.4 203.0 133.7
Juli 2014 148.3 202.6 132.5
Aug. 2014 151.0 213.6 132.2
Sep. 2014 151.2 214.2 132.2
Okt. 2014 151.7 216.9 131.6
Nov. 2014 150.7 208.7 132.4
Des. 2014 152.3 210.0 134.1
Jan. 2015 150.2 202.3 133.9
Feb. 2015 149.9 203.7 133.5
Mar. 2015 150.8 204.4 134.1
Apr. 2015 153.1 210.4 135.4
Mai 2015 152.0 206.1 135.7
Juni 2015 150.3 199.0 136.1
Juli 2015 148.6 192.9 135.5
Aug. 2015 148.5 190.0 135.6
Sep. 2015 147.8 186.3 135.8
Okt. 2015 147.7 180.9 137.1
Nov. 2015 145.0 169.8 137.0
Des. 2015 144.1 168.8 136.2
Jan. 2016 141.9 166.5 134.5
Feb. 2016 140.2 162.8 133.9
Mar. 2016 138.4 157.0 133.4
Apr. 2016 137.8 153.9 133.3
Mai 2016 139.3 153.8 135.1
Juni 2016 139.2 149.8 136.1
Juli 2016 138.7 146.2 136.1
Aug. 2016 137.0 143.1 134.6
Sep. 2016 136.3 142.2 133.9
Okt. 2016 135.3 140.3 133.3
Nov. 2016 134.9 138.1 133.5
Des. 2016 134.3 133.3 134.6
Jan. 2017 136.1 129.6 138.8
Feb. 2017 137.5 127.6 141.7

Monthly change: unchanged turnover

Total Norwegian manufacturing turnover were unchanged from January 2017 to February 2017, according to seasonally-adjusted figures.

The following industries reported increased turnover in the period:

  • Basic metals
  • Computer and electrical equipment
  • Repair, installation of machinery

The grouping refined petroleum products, chemicals and pharmaceutical products along with producers of ships, boats and oil platforms reported a fall in turnover of 8.9 and 3.4 per cent respectively.

Monthly change: growth in Norway and in the euro area in January 2017

Total turnover for Norwegian manufacturing went up 3.3 per cent from December 2016 to January 2017, according to seasonally-adjusted figures. Manufacturing in the euro area showed a small increase of 0.4 per cent. Among the Nordic countries, Denmark and Sweden had a reduction of 8.5 and 1.3 per cent respectively in this period, according to Eurostat.

Variation in manufacturing turnover 

The variation in manufacturing turnover can be related to changes in volume and prices indices in different industries and also production to stocks and sales from stocks.

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