Turnover in oil and gas, manufacturing, mining and electricity supply, February 2014

Manufacturing turnover was almost unchanged, however, some of the industrial sectors showed notable changes both positive and negative. Building of ships and oil platforms (9.5 per cent) and repair, installation of machinery (11.6 per cent) accounted for most of the increases in the turnover from December 2013 to February 2014 compared to the previous three-month period, according to seasonally-adjusted figures . The Index of industrial production shows that these industries also recorded an increase in their production volume. Basic metals also edged up 4 per cent and helped to pull up the total turnover.

The biggest contributor pulling down total manufacturing turnover was the grouping refined petroleum products, and chemical and pharmaceutical products, which recorded a decline of 3.7 per cent in this period. The machinery and equipment industry also fell 5.2 per cent; mainly as a result of a decrease in the domestic market.

Food products, which account for about 20 per cent of total manufacturing turnover, showed a slight increase of 0.4 per cent

Monthly change: growth in turnover from January to February 2014

Although the three-month period shows a slight decrease, there has been a remarkable growth in manufacturing turnover in the last month of this period, according to seasonally-adjusted figures. After a decline in January, total Norwegian manufacturing turnover increased by 5.6 per cent from January to February 2014.

The largest increase was for building of ships, boats and oil platforms, with growth of 38.6 per cent, mainly as a result of several project deliveries in this period. This was followed by solid figures within the machinery and equipment industry, edging up 20.5 per cent. Moreover, notable growth was seen in fabricated metal products and computer and electrical equipment.

On the contrary, repair, installation of machinery and rubber, plastic and mineral products showed a decline from January to February 2014. A reduction in the export market for food products led to a total decrease of 1 per cent in this industry.

Twelve-month change: prominent growth for building of ships, boats and oil platforms from February 2013

Calendar-adjusted figures showed an increase of 7.7 per cent in total manufacturing turnover in February 2014 compared to February 2013. The domestic and export markets rose 8.6 and 6.4 per cent respectively.

Much of this increase is due to the distinguished growth in building of ships, boats and oil platforms, edging up 57.2 per cent. The machinery and equipment industry also showed an increase of 20.3 per cent. The growth in both industries was due to the higher turnover in the domestic market.

Food products (5.1 per cent), fabricated metal products (14.4 per cent), and computer and electrical equipment (9.2 per cent) were also among the industries helping to pull up the turnover in this period.

In the opposite direction, the grouping refined petroleum, chemical and pharmaceutical industries edged down 2.2 per cent. Again, similar to the previous period, there was a notable negative change for the paper and paper products industry, down 29.2 per cent, in addition to a recorded decline in production volume during the last twelve months.

Monthly change: Norwegian manufacturing down, the euro area up in January 2014

Norwegian manufacturing turnover went down 3.2 per cent from December 2013 to January 2014, according to seasonally-adjusted figures. In the same period, manufacturing turnover in the euro area was up 1.3 per cent, according to Eurostat .