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38147
Trade surplus remains high
statistikk
2003-03-17T10:00:00.000Z
External economy
en
muh, External trade in goods, import, export, balance of trade (export minus import), mainland exports, imports excluding ships and oil platforms, trade ( between countries, continents and trade regions), international product groups (for example hs, sitc and bec), product groups (for example food, crude oil and metals)External trade , External economy
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External trade in goods, February 2003

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Trade surplus remains high

In February the trade surplus came to NOK 20.1 billion, an increase of as much as 27.1 per cent compared with February last year. A large increase in the export value of crude oil, 31.7 per cent, is the main reason for this. The import value declined by 4.2 per cent, to 21.1 billion.

The value of total exports last month came to NOK 41.3 billion. The export value of crude oil accounted for NOK 19.0 billion compared with 14.4 billion in February 2002. This is an increase of NOK 4.6 billion. In both February this year and last year, the amount of crude oil barrels exported were close to 82 million. The price, however, was considerable higher in February this year, NOK 232 per barrel, compared with NOK 176 in February 2002. The export value of natural gas was NOK 6.3 billion in February, a small decline compared with February last year.

Seasonally adjusted figures

Seasonally adjusted figures for exports of crude oil natural gas and condensates show an increase of 10.4 per cent from January to February this year. Figures for the last threes months for these goods, show an increase of 14.8 per cent compared with the period September - November last year.

External Trade in Goods, excl. Ships and Oil Platforms. Million NOK
  January-February Change, per cent February Change, per cent
  2002 2003 2002 2003
Imports    44 884      43 130 -3.9      22 070    21 145 -4.2
Exports 76 416 82 511 8.0 37 898 41 269 8.9
Of which            
Crude oil 27 922 36 646 31.2 14 415 18 983 31.7
Natural gas 14 317 13 168 -8.0 6 360 6 264 -1.5
Condensates  465  957  105.7  300  360 20.1
Exports excl. crude oil, natural gas and condensates 33 712 31 740 -5.9 16 823 15 662 -6.9
Trade balance (2-1) 31 533 39 381 24.9 15 828 20 124 27.1
Trade balance excl. oil, natural gas and condensates (3-1) -11 172 -11 391 . -5 247 -5 484 .

Less exports of machinery, metals and paper

Exports of traditional goods amounted to NOK 15.7 billion, down 1.2 billion compared with February 2002. An important explanation to this huge decline in the export value was an export of large aircrafts for more than half a billion in February last year. In February this year no such exports took place. Among the groups of machinery that showed declining export values were power generating machinery, machinery for particular industries and general industrial machinery. Also metals, paper and exports of fish show less values compared with February 2002.

Traditional imports declined

Imports of traditional goods in February came to NOK 21.1 billion, compared with to 22.1 billion in February last year. The figures for February 2002 this year include an import value of large aircrafts for NOK 870 million. In February this year there were no such imports. Looking at the different commodity groups the picture was mixed. Related to February last year the import value increased for medical and pharmaceutical products, road vehicles and manufactures of metals.

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