Turnover in oil and gas, manufacturing, mining and electricity supply, January 2015

The index value for turnover in manufacturing was 149.6 (2005=100) in the period November 2014 to January 2015, compared to 151.7 in the previous three-month period, according to seasonally-adjusted figures. It was a clear fall in the domestic market that pulled the turnover down. The export market index remained almost unchanged.

Three-month change: notable fall for suppliers to the oil and gas sector

Most of the suppliers to the oil and gas sector showed a negative tendency in the period November 2014 to January 2015. Seasonally-adjusted figures showed that building of ships, boats and oil platforms and machinery and equipment had a strong decrease of 13.8 and 5.4 per cent respectively from November 2014 to January 2015, compared to the previous three-month period. The decrease within these industries was mainly due to several large deliveries registered in the previous three-month period. The reduction in manufacturing was further enhanced by a fall in repair, installation of machinery and fabricated metal products industry. Refined petroleum products, and chemical and pharmaceutical products also edged down 3.5 per cent.

On the other hand, the basic metal industry, computer and electrical equipment as well as rubber, plastic and mineral products industry showed a strong growth. In addition to food products with a 2.5 per cent growth, these industries partially offset the reduction in total turnover in this period.

Monthly change: decline from December 2014 to January 2015

Total Norwegian manufacturing turnover went down 2.0 per cent from December 2014 to January 2015, according to seasonally-adjusted figures. While the export market recorded a decrease of 6.4 per cent, the domestic market index showed a smoother negative trend.

Building of ships, boats and oil platforms industry contributed strongly to the overall decline in manufacturing turnover, which fell by 14.5 per cent. Repair, installation of machinery, fabricated metal products industry, and the grouping refined petroleum, chemical and pharmaceutical industries also showed a remarkable reduction in turnover.

On the contrary, a rise in food products, computer and electrical equipment and machinery and equipment partially offset the downward trend in the total turnover from the last month in 2014 to the first month in 2015.

Twelve-month change: decline in building of ships, boats and oil platforms industry compared to January 2014

Calendar-adjusted figures showed a decrease of 1.5 per cent in total manufacturing turnover in January 2015 compared to January 2014. While the domestic market enjoyed a 3.8 per cent growth, the export market faced a 7.1 per cent decline.

The biggest contributor pulling down total manufacturing turnover was the grouping refined petroleum, chemical and pharmaceutical industries decreased by 23.5 per cent. Building of ships, boats and oil platforms industry recorded a solid negative trend, 17.5 per cent. Moreover, repair, installation of machinery and fabricated metal products industry increased by 19.7 and 15.8 per cent respectively.

Despite the reduction in total turnover, machinery and equipment, as well as basic metal edged up considerably, by 23.8 and 14.8 per cent respectively. Food products also recorded a notable growth of 8.2 per cent during the last twelve months.

Monthly change: Fall in Norway and the euro area in December 2014

Norwegian manufacturing turnover went down by 0.7 per cent from November to December 2014, according to seasonally-adjusted figures. Manufacturing turnover in the euro area also faced a slight decrease of 0.7 per cent according to Eurostat.