Decline in external trade in services

Published:

Exports of services from Norwegian non-financial enterprises decreased by 3.6 per cent in the 2nd quarter of 2017 compared to the 2nd quarter of 2016. Imports of services decreased by 1.7 per cent in the same period.

However, both exports and imports experienced an increase compared with the 1st quarter of 2017, with exports going up by 7.1 per cent, or NOK 3.5 billion, and imports going up by 10.8 per cent, or NOK 5.9 billion.

Some significant export figures

  • The transport and storage industry is still the main contributor to Norwegian service exports, amounting to NOK 25 billion; unchanged compared with the 2nd quarter of 2016.
  • Exports of services related to sea and coastal water transport increased by 5.5 per cent, or NOK 1 billion, from the 2nd quarter of 2016.
  • The non-Nordic EU countries are still the most important market for exports of services from Norwegian non-financial enterprises. In the 2nd quarter of 2017, services amounting to NOK 18 billion were exported to these countries.

Imports of services – the most significant figures

  • Enterprises within the transport and storage industry are also the main contributors when it comes to import of services. The share of total imports ended at 27.1 per cent, equal to NOK 16.4 billion. The mining and quarrying industry imported services for NOK 13.5 billion, equal to 22.4 per cent of total imports of services.
  • Business services was the largest group of services imported by Norwegian non-financial enterprises in the 2nd quarter of 2017. This accounted for NOK 12.7 billion, equal to a share of 21.1 per cent of total imports of services.
  • Enterprises from the non-Nordic EU countries supply Norwegian non-financial enterprises with 45 per cent of the total value of imports of services, corresponding to NOK 27.1 billion.

Figure 1

Figure 1. External trade in services for non-financial enterprises

Figure 2. Exports of services by region

Q1-2014 Q2 Q3 Q4 Q1-2015 Q2 Q3 Q4 Q1-2016 Q2 Q3 Q4 Q1-2017 Q2
EU except Nordic countries 30.5 32.3 34.2 30.8 30.9 34.4 34.1 33.5 32.3 33.9 33.6 35.3 32.3 34
Asia 17.2 20.5 17.8 19.2 18.5 17 17.7 17.7 17.1 15.3 16.9 13.5 17.1 14.9
North and Central America 15.5 17.2 14.4 20.7 15.6 14.7 14.9 16.1 15.5 15.3 15.9 14 13.6 13.4
Nordic countries 15.3 12.9 15.6 12.6 14.3 14 14.6 15.7 15.3 17.1 16.4 17.2 16.6 16
Other regions 15 14.7 14.6 15.3 17.3 16.1 16.3 15.7 16.7 15.3 14.9 16.9 14.4 15.4

Figure 3. Imports of services by region

Q1-2014 Q2 Q3 Q4 Q1-2015 Q2 Q3 Q4 Q1-2016 Q2 Q3 Q4 Q1-2017 Q2
EU except Nordic countries 41.5 46.6 43.8 45.4 41.7 41 44.9 42.2 41.5 40.3 41.8 40.9 44.5 45
Asia 10.7 12.7 11.3 12.8 12.4 12.7 11.4 12.7 11.2 12.4 12.2 12.9 12.0 12.1
North and Central America 12.9 10.6 10.7 13.8 15.7 16.3 15 15.5 15.5 18.5 16.5 15.4 14.3 13.2
Nordic countries 23.8 21.8 25.2 20.5 20.9 21 22 22.1 21.8 19.3 21.1 21.1 20.2 20.9
Other regions 6.5 5.3 5.8 4.9 6.2 6.1 5.1 7.5 7.9 7.1 7.3 7.9 7.0 6.5

Merged groups of services make comparison more difficult

A change has been made in the compilation of service types. The service grouping railway and land transport services was merged with air transport services to a new group of air and land transport services. This applies to Tables 1 and 3, which show foreign trade services for non-financial corporations, by service type. In Statbank table 10192, the changes date back to Q1 2015. This means that the figures are not directly comparable with previous publications.