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

Turnover within Norwegian oil and gas extraction sector was close to NOK 425 billion in 2004, a 20.4 per cent growth compared to 2003. This is mainly due to the high prices on crude oil in 2004. According to external trade figures the average price on crude oil was NOK 257 in 2004 and NOK 206 in 2003.

Intermediate goods

2004 has been a year with growth in output and the capacity utilisation within the concerning sectors. This development has contributed to the steep growth of 15.2 per cent compared to 2003. Seasonally adjusted monthly figures from November to December 2004 were negative. Figures for refined petroleum products, chemicals and chemical products as well as basic metals had a negative impact on the overall figures for this particular industrial grouping.

Capital goods

Within the four main industrial groupings, only capital goods show negative figures when compared to 2003. This decline in turnover is mainly due to a decrease of more than 20 per cent in the production of transport equipment. The decline can also be seen when comparing December 2004 with November. Almost all industries within capital goods contribute to this fall in turnover. Again, with transport equipment leading way, declining a whole 14,9 per cent.

Consumer goods

The largest contributor within this main industrial grouping, food products, beverages, tobacco, show an increase of 1.5 per cent when compared to 2003. Even publishing, printing and reproduction is a contributor to the positive development, where consumer goods ended with an increase of 3 per cent overall when compared to 2003.