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

The index value for turnover in manufacturing was 151.0 (2005=100) in the period January to March 2015, compared to 151.2 in the previous three-month period, according to seasonally-adjusted figures.

Three-month change: prominent growth for machinery and equipment industry

Although the total turnover in Norwegian manufacturing was almost unchanged, some of the industries showed significant increases or decreases in the first quarter of 2015.

Seasonally-adjusted figures showed that machinery and equipment as one of the biggest suppliers to the oil and gas sector had an increase of 12.2 per cent. The basic metals industry rose 3.9 per cent, mainly as a result of a growth in metal market prices (in NOK) in the first quarter of 2015, according to the producer price index. Food products (2.0 per cent), and computer and electrical equipment (8.1 per cent) were also among the industries helping to pull up the turnover in this period.

On the contrary, fabricated metal products and repair, installation of machinery edged down by 10.5 and 1.8 per cent respectively. Moreover, a reduction in the grouping refined petroleum products, and chemical and pharmaceutical products (5.6 per cent) and building of ships and oil platforms (10.8 per cent) offset the upward trend in the total turnover during this period.

Monthly change: slight growth from February to March 2015

Total Norwegian manufacturing turnover went up 1.0 per cent from February to March 2015, according to seasonally-adjusted figures. While the domestic market recorded an increase of 1.3 per cent, the export market index showed a slight decline.

Machinery and equipment industry contributed strongly to the overall increase in manufacturing turnover, which rose 10.3 per cent. This was followed by a solid increase in the grouping refined petroleum, chemical and pharmaceutical industries with 5.1 per cent. Higher prices of exported petroleum products were a contributing factor to the growth. Food products, fabricated metal products, and computer and electrical equipment were also among the industries helping to pull up the turnover in this period.

On the other hand, building of ships, boats and oil platforms industry recorded a 15.2 per cent fall, mainly due to several large deliveries among a few leading suppliers in the previous period. Repair, installation of machinery and basic metals also showed a reduction in turnover from February to March 2015.

Twelve-month change: notable growth for food products from March 2014

Calendar-adjusted figures showed an increase of 3.9 per cent in total manufacturing turnover in March 2015 compared to March 2014. Both the domestic and the export market enjoyed a positive trend.

The biggest contributor to pulling up total manufacturing turnover was machinery and equipment, which decreased by 33.5 per cent. Food products and basic metals edged up 7.0 and 22.2 per cent, respectively.

Despite the growth in total turnover, notable decreases were recorded in building of ships, boats and oil platforms industry (23.1 per cent) and repair, installation of machinery (18.5 per cent). Moreover the grouping refined petroleum, chemical and pharmaceutical industries also went down during the last twelve-month period.

Monthly change: growth in Norway, slight rise in the euro area in February 2015

Norwegian manufacturing turnover went up by 4.5 per cent from January to February 2015, according to seasonally-adjusted figures. Manufacturing turnover in the euro area faced a slight increase of 0.6 per cent according to Eurostat.