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38099
Higher exports of metals
statistikk
2005-03-15T10:00:00.000Z
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
false

External trade in goods, February 2005

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Higher exports of metals

Norwegian imports amounted to NOK 26.7 billion in February, while exports reached NOK 48.3 billion. Both imports and exports increased by more than 9 per cent compared with February last year.

The trade surplus also rose by more than 9 per cent for this period and amounted to NOK 21.6 billion.

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.

External Trade in Goods, excl. Ships and Oil Platforms. NOK million
  January-February Change,
per cent 		February Change,
per cent
        2004       2005 2004 2005
Imports 45 690     51 040 11.7    24 390    26 679 9.4
Exports 85 156 94 034 10.4 44 174 48 275 9.3
Of which            
Crude oil 36 210 40 006 10.5 19 800 20 355 2.8
Natural gas 13 104 14 006 6.9 6 331 6 667 5.3
Condensates 1 707 1 901 11.3  985 1 198 21.6
Exports excl. crude oil, natural gas and condensates 34 134 38 121 11.7 17 058 20 055 17.6
Trade balance (2-1) 39 465 42 995 8.9 19 784 21 596 9.2
Trade balance excl. oil, natural gas and condensates (3-1) -11 556 -12 918 . -7 333 -6 624 .

Seasonally adjusted figures

Seasonally adjusted figures for imports of traditional goods for the last three months show an increase of 2.1 per cent compared with figures from September to November last year.

In the same period, petroleum exports decreased by 8.8 per cent, whereas exports of traditional goods rose by 2.7 per cent. Exports of metals showed a 5 per cent growth for the three-month period, whereas it showed a 12.3 per cent growth from January to February. For metals excluding iron and steel the change from last month was 15.0 per cent.

Increase in Export Value

Exports of crude oil came to NOK 20.4 billion in February, up 2.8 per cent compared with February last year. On the other hand, the number of exported barrels fell from 92 million to 70 million, indicating that the increase in the crude oil price has driven the value up. The average price per barrel of crude oil rose from NOK 215 in February 2004 to NOK 289 in February 2005.

Exports of traditional goods increased by 17.6 per cent from 17.1 billion in February last year to NOK 20.1 billion in February this year.

Exports of fish increased by NOK 403 million, or 18.5 per cent. Capelin, herring and fish farmed salmon all show a substantial increase. The mild winter this year has resulted in high exports of electricity. In February, exports of electricity reached NOK 351 million compared with NOK 60 million in the same month last year.

Exports of iron and steel rose by 78.7 per cent to NOK 1.2 billion from February last year to February this year. Exports of non-ferrous metals also increased. This commodity group had an increase of NOK 473 million, or 16.9 per cent, to NOK 3.3 billion in February this year.

Norwegian exports of traditional goods to the United Kingdom increased by 33.6 per cent in the two first months of 2005 compared with the same period in 2004. The main reason for the increase was higher exports of iron and steel, rising from NOK 135 million to NOK 714 million in this period.

The export value to Sweden increased by 13.5 per cent, or NOK 588 million. Exports of electricity accounts for half the increase.

Imports Up

Imports of traditional goods in February totalled NOK 26.7 billion compared with NOK 24.4 billion in February last year. This is an increase of NOK 2.3 billion or 9.4 per cent.

As was the case for exports, imports of iron and steel have increased substantially. The rise represents 92.7 per cent, from NOK 0.7 to NOK 1.3 billion from February 2004 to February 2005. Imports of non-ferrous metals rose by 42 per cent from NOK 216 million to NOK 729 million in the same period.

Imports of metalliferous ores and metal scrap increased by NOK 479 million and reached NOK 1.4 billion in the same period.

The mild weather has resulted in a strong reduction in imports of electricity, falling from NOK 253 million in February 2004 to NOK 27 million in February 2005.

Norwegian imports from Japan showed an increase of 15.9 per cent in the period January-February 2005 compared with the same period in 2004. The main reason for this is increased imports of iron and steel. After Germany, Japan was our main supplier of these products in the two first months of the year, with an import value of NOK 455 million.

Imports from China rose by 13.2 per cent in the two first months of the year compared with the same months last year. The largest increase is found within telecommunications apparatus where the import value rose from NOK 197 million to NOK 325 million. As an example, imports of reception apparatus for televisions rose from 6800  to 16000 .

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