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Imports reached almost NOK 31 billion
statistikk
2005-07-15T10:00:00.000Z
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, June 2005

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Imports reached almost NOK 31 billion

Imports of goods came to NOK 30.9 billion in June 2005, while exports came to NOK 49.8 billion. The trade surplus was more than NOK 4.8 billion higher than in June last year. The crude oil price reached a new all time high in June, and exports of fish was at its highest level ever in the first six months of 2005.

The export value of crude oil came to NOK 22.2 billion in June. The average price per barrel was NOK 352, a rise of NOK 110 compared with June 2004. In the first six months of 2005, Norway's exports of oil were almost NOK 22 billion higher than in the same period last year. Exports of gas were more than NOK 10 billion higher than in the same period last year. Prices of both oil and gas are higher than last year, but there has been an increase in the sale of gas and a decrease in the sale of oil barrels.

External trade in goods, excl. ships and oil platforms. NOK million
  January-June Change in
per cent 		June Change in
per cent
  2004 2005 2004 2005
1 Imports  155 196        168 026 8.3       29 870        30 916 3.5
2 Exports  263 065  309 297 17.6 43 967 49 823 13.3
Of which            
Crude oil  111 355  133 317 19.7 18 570 22 195 19.5
Natural gas 37 259 47 870 28.5 5 053 5 963 18.0
Condensates 5 172 6 583 27.3  844  951 12.6
3 Exports excl. crude oil, natural gas and condensates  109 279  121 526 11.2 19 499 20 714 6.2
4 Trade balance (2-1)  107 869  141 271 31.0 14 097 18 907 34.1
5 Trade balance excl. oil, natural gas and condensates (3-1) -45 917 -46 499 . -10 370 -10 202 .

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 1.4 per cent increase in the second quarter of 2005 compared with the first quarter of 2005. The value of exports decreased slightly by 0.2 per cent from May to June. Corresponding figures for traditional imports during the last three months show an increase of 1.4 per cent compared with the January-March period. The period from May to June shows a decrease of 0.7 per cent.

High export of fish to Russia

Traditional exports rose by NOK 1.2 billion in June compared with June last year. Exports of machinery and road vehicles rose by nearly NOK 450 million, whereas other metals than iron and steel and fish rose by almost NOK 200 million each.

Norway's exports of goods increased by NOK 12.2 billion, or 11.2 per cent, compared with the first six months of 2004. The product groups iron and steel, non-ferrous metals and manufactures of metals contributed to more than a quarter of the increase. Moreover, exports of fish rose by NOK 1.5 billion. It is worth mentioning that not only the oil price, but also exports of fish is at its highest level ever recorded. In the first six months of 2005, Russia bought fish for more than NOK 600 million more than in the same period last year, an increase of almost 70 per cent. Exports of chemicals rose by NOK 1.3 billion, liquefied propane and butanes by NOK 1.4 billion and the product groups electric current and general industrial machinery rose by NOK 1.2 billion each.

Higher imports of traditional goods

The value of traditional imports rose by a more than NOK 1 billion compared with June 2004. Imports of iron and steel climbed by nearly NOK 500 million and general industrial machinery by NOK 630 million. At the same time, inedible crude materials declined by NOK 222 million and food by NOK 64 million.

Traditional imports were almost NOK 12.9 billion, or 8.3 per cent, higher in the first six months than in 2004. Machinery and transport equipment had the highest increase by almost NOK 4.7 billion. Cars amounted to 40 per cent of this growth. There was an increase in imports of cars from Germany and a decrease in imports from Japan compared with the same period in 2004.

Goods made of iron and steel and other metals came to almost a quarter of the total growth, also for exports. Finally, exports of metalliferous ores and metal scrap increased by NOK 1.1 billion, chemicals by NOK 1.6 billion and miscellaneous manufactured articles by NOK 1 billion.

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