Turnover in oil and gas, manufacturing, mining and electricity supply, April 2004

Turnover within Norwegian Oil- and Gas extraction was NOK 34 billion in April, up 27.5 per cent from the same period in 2003, mainly due to the high prices on crude oil. According to the External merchandise trade statistics, the average price for oil in April 2004 was NOK 233 per barrel compared with NOK 185 in April last year.

Increase in intermediate goods

The positive development for intermediate goods is mainly due to an increase in basic chemicals, pulp, paper and paper products and basic metals. The latter standing for a growth of 33 per cent during the first four months this year compared to the same period last year. Though showing a drop from March to April, only confirms the notably high turnover in March.

Increase in capital goods

Turnover within capital goods have decreased by 11.7 per cent the last four months compared to the same period last year. This decline includes almost all industries except those producing electrical and optical equipment. The strongest decline can be seen within the production of transport equipment. Still, the average turnover for the last three-month period compared to the previous three-month period shows a slight increase of 1.8 per cent for capital goods. All industries show positive growth in this period.

Consumer goods up

Also an increase can be seen within consumer goods these first four months, when compared to last years figures. Food, beverages and tobacco, publishing, printing and reproduction as well as manufacturing of furniture are all industries within this grouping that experienced an increase in this period.