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38101
Continued increase in external trade
statistikk
2005-02-15T10:00:00.000Z
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, January 2005

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Continued increase in external trade

Norways import of traditional goods reached NOK 24.3 billion in January 2005, an increase of NOK 3 billion compared with January 2004. The total exports amounted to NOK 46 billion, and the trade surplus was NOK 18.9 billion. Due to mild weather this winter imports of electricity have decreased and exports increased.

The export value of crude oil exceeded NOK 19.6 billion in January. The increase in export revenue by 20 per cent is due to a higher price. The average price per barrel rose from NOK 214 in January 2004 to NOK 278 in January 2005, while the number of barrels sold decreased.

External Trade in Goods, excl. Ships and Oil Platforms. NOK Million
  January Change, per cent
  2004 2005
Imports 21 300      24 264 13.9
Exports 40 982 45 768 11.7
Of which      
Crude oil 16 410 19 651 19.7
Natural gas 6 773 7 339 8.4
Condensates  722  703 -2.6
Exports excl. crude oil, natural gas and condensates 17 077 18 075 5.8
Trade balance (2-1) 19 682 21 503 9.3
Trade balance excl. oil, natural gas and condensates (3-1) -4 223 -6 189 .

Imports of traditional goods do not include ships and oil platforms. Exports of traditional goods do not include crude oil, natural gas and condensates, ships and oil platforms.

Seasonally adjusted figures

Seasonally adjusted figures for exports of traditional goods show a 1.7 per cent increase for the last three months compared with figures from August to October last year. The value of exports increased slightly less from December to January, up by 1.1 per cent. Corresponding figures for traditional imports during the last three months show an increase of 1.4 per cent compared with the August-October period. There is also an increase of 1.0 per cent from December 2004 to January.

Increased imports of many goods

The total growth of traditional imports added up to almost NOK 3 billion.

Import of cars rose by more than 4.5 billion, or 17 per cent compared with January last year. We imported cars for 15.5 per cent more from Germany and 13.0 per cent more from Japan.

These countries produce half of the cars imported to Norway, measured in value.

Imports of raw materials increased by 34.5 per cent. Metalliferous ores, metal scrap and wood were the largest contributors.

Mineral fuels import rose by 17 per cent mainly due to the result of a NOK 243 million crude oil import from Great Britain. Imports of chemicals increased by almost 13 per cent.

The manufactured goods import rose by NOK 1 billion, or more than 30 per cent. The rise of iron and steel constituted more than half of this import. Among the reasons are tripled imports from Germany and doubled from Japan.

Exports of electricity, however, have declined from NOK 249 to 36 million. The price and quantity of imported MWh have not been lower since September 2002.

Jump in export of petroleum products, electricity, iron and steel

Exports of traditional goods increased by nearly 6 per cent compared with January last year.

Iron and steel exports rose by almost 70 per cent. The main reason is a sale to Great Britain worth NOK 300 million. The export of other metals has decreased by 8 per cent, while manufacturers of metals have increased by 60 per cent.

Petroleum products constitute another commodity group with strong growth in export revenues, up 222 NOK million or 20 per cent. The export of electricity is almost doubled compared to the same month in 2004. The reason is increased quantity MWh exported; the price has decreased from 249 to 189 per MWh.

Furthermore, we sold fish for NOK 150 million, or 7 per cent more than in January 2004.

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