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38041
Lower exports of oil and gas
statistikk
2007-08-15T10:00:00.000Z
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, July 2007

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Lower exports of oil and gas

Exports of goods came to NOK 66.1 billion in July while imports came to NOK 35.0 billion. There was a drop in exports of crude oil and gas, but this was partly offset by exports of other goods. So far in 2007, the Netherlands is Norway's main trading partner in terms of exports.

The total export value of crude oil, natural gas and condensates came to NOK 35.9 billion in July. The export value of crude oil came to NOK 24.9 billion, a decline of 11.4 per cent compared with October last year. This is due to both lower quantity and price. The crude oil price averaged NOK 455 per barrel in July 2007, compared with NOK 460 per barrel in the corresponding period last year.

External trade in goods, excl. ships and oil platforms. NOK million
  January-July Change in per cent July Change in per cent
  2006 2007 2006 2007
1 Imports  222 891      261 999 17,5      29 432      35 026 19,0
2 Exports  453 491  456 779 0.7 61 870 61 105 -1.2
Of which            
Crude oil  188 165  171 172 -9.0 28 054 24 862 -11.4
Natural gas 85 091 88 405 3.9 10 962 10 432 -4.8
Condensates 12 768 3 966 -68.9 1 631  631 -61.3
3 Exports excl. crude oil, natural gas and condensates  167 466  193 235 15.4 21 223 25 179 18.6
4 Trade balance (2-1)  230 599  194 780 -15.5 32 437 26 079 -19.6
5 Trade balance excl. oil, natural gas and condensates (3-1) -55 425 -68 764 . -8 209 -9 847 .

Seasonally adjusted figures

Compared with the previous three-month period, seasonally adjusted figures show a 0.1 per cent increase in imports of goods, excluding ships and oil platforms, for the period May to July 2007. Corresponding figures for exports excluding ships, oil platforms, crude oil, condensates and natural gas, show an increase of 8.7 per cent (1) .

Similar figures for the June-July period show a 1.0 per cent drop in imports and 8.2 per cent (1) drop in exports.

Exports of refined mineral products and metals up

The export value of goods excluding ships, oil platforms, crude oil, natural gas and condensates came to NOK 25.2 billion in July, an increase of about NOK 4 billion, or 18.6 per cent compared with July 2006.

Detailed figures show that the growth took place in many commodity groups and across many different products. However, with a rise of more than NOK 1 billion, refined mineral products experienced the strongest increase in export value. This is a growth of 43.5 per cent compared with July last year. Furthermore, the export value of non-ferrous metals rose by NOK 975 million (25.1 per cent).

Increase in imports of cars, machinery and metalliferous ores

Imports of goods, excluding ships and oil platforms rose by NOK 5.6 billion or 19 per cent compared with July last year.

As for exports, the growth was distributed across a wide range of products. Nevertheless, the commodity group machinery and transport equipment stands out with a rise in imports of NOK 2.4 billion, resulting in an import value of NOK 14 billion for this group. Passenger cars and industrial machinery accounted for the majority of this growth. Imports of metalliferous ores and scrap metal rose by NOK 523 million (29.9 per cent)

Strong growth in metal exports to the Netherlands

Exports to the Netherlands have almost doubled from last year, from NOK 13.8 billion in 2006 to NOK 22.5 billion in 2007. This means that so far this year the Netherlands is Norway's main trading partner in terms of exports. Normally exports to Sweden, the UK and Germany are higher. The main reason for this development is a sharp growth in exports of non-ferrous metals, which so far total NOK 7.7 billion. Subsequently the export value of this commodity has more than tripled compared with the same period last year - NOK 11.4 billion compared with NOK 3.7 billion.


(1) Corrected 15.08.2007 at 11:30 a.m.

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