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38037
Higher exports of crude oil
statistikk
2007-10-15T10:00:00.000Z
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, September 2007

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Higher exports of crude oil

Norwegian exports of goods came to NOK 63.9 billion in September, an increase of 6.5 per cent compared with September 2006. Total imports reached NOK 34.7 billion, resulting in a trade surplus of NOK 29.2 billion.

The total export value of crude oil, natural gas and condensates in September came to NOK 38.4 billion. The export value of crude oil alone constituted NOK 26.8 billion, 14.3 per cent more than in September last year. The average price of crude oil increased from NOK 400 to 443 per barrel.

External trade in goods, excl. ships and oil platforms. NOK million
  January-September Change in
    per cent 		September Change in
    per cent
  2006 2007 2006 2007
1 Imports     289 533     334 665 15.6    34 466    34 738 0.8
2 Exports  578 270  584 733 1.1 60 004 63 930 6.5
Of which            
Crude oil  237 502  224 373 -5.5 23 443 26 804 14.3
Natural gas  105 519  109 556 3.8 9 574 10 725 12.0
Condensates 15 488 5 536 -64.3  936  855 -8.7
3 Exports excl. crude oil, natural gas and condensates  219 762  245 268 11.6 26 051 25 545 -1.9
4 Trade balance (2-1)  288 737  250 068 -13.4 25 538 29 192 14.3
5 Trade balance excl. oil, natural gas and condensates (3-1)    -69 771 -89 398 28.1 -8 415 -9 192 9.2

Seasonally adjusted figures

Seasonally adjusted figures for imports excluding ships and oil platforms show a 1.6 per cent decline in imports from the second to the third quarter of 2007. The corresponding figures for exports excluding ships, oil platforms, crude oil, natural gas and condensates show a decline of 5.2 per cent.

Adjusted for seasonality, the export value of crude oil, natural gas and condensates for the period July to September increased by 1.3 per cent compared with the previous three-month period.

Modest increase in imports

The import value of goods excluding ships and oil platforms ended at NOK 34.7 billion, only a 0.8 per cent advance from September 2006.

Imports of machinery and transport equipment increased by NOK 200 million, amounting to NOK 13.1 billion in September 2007. This is to a large extent due to higher imports of general industrial machinery and power generating machinery.

Decrease in exports of manufactured goods

The export value of goods excluding ships, oil platforms, crude oil, natural gas and condensates came to NOK 25.5 billion in September 2007, 1.9 per cent lower than in the corresponding month last year.

Exports of manufactured goods fell by 7.2 per cent, or NOK 550 million, and ended at NOK 7.1 billion. This decline is mainly attributable to a decrease of NOK 540 million in exports of non-ferrous metals. Fish products also experienced a decline in export value, ending at NOK 2.7 billion in September 2007, a decline of 10.6 per cent from last year.

Continued increase in imports from China

At the end of the third quarter, total imports from China were valued at NOK 20.1 billion. The equivalent figure for the corresponding period in 2006 was 16.4 NOK billion. This represents an increase of 22.6 per cent, or NOK 3.7 billion. The largest commodity group for imports from China was apparel and clothing accessories, amounting to NOK 630 million in September 2007.

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