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37992
Increased crude oil exports
statistikk
2009-08-17T10:00:00.000Z
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, July 2009

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Increased crude oil exports

In July exports reached NOK 62.7 billion, while imports came to NOK 31.8 billion. The trade balance reached NOK 30.8 billion, up 39 per cent from June to July this year. Increased crude oil exports contributed to the July result.

The trade surplus in July increased almost NOK 9 billion compared to June this year. High revenues from exports of crude oil, fish and machines contributed to high exports in July. Imports declined NOK 4.4 billion compared to the previous month. Passenger cars and industrial machinery pulled down the imports in July.

Increase in crude oil

In July the export value of crude oil came to NOK 23.5 billion, up NOK 4.3 billion from June 2009. The export value of crude oil was 30 per cent lower this year compared to the corresponding month in 2008 because of the low crude oil price. Despite a high number of exported barrels, the highest since January 2009, low crude oil prices pulled the revenues down. The average crude oil price was NOK 416 per barrel in July, down NOK 283 from July 2008 and down NOK 28 from the previous month.

Low value for natural gas

The total export value of natural gas amounted to NOK 12.2 billion this July, down 22 per cent or NOK 3.4 billion from July 2008. The exported quantity of natural gas in gaseous state came to 7.2 billion cubic metres. This was about the same volume as in July 2008. Compared to June this year however, the exported volume increased more than 12 per cent.

External trade in goods, excl. ships and oil platforms. NOK million
  January-July Change in
per cent 		July Change in
per cent
  2008 2009 2008 2009
1 Imports  280 048        240 104 -14,3       39 806        31 820 -20,1
2 Exports  560 813  430 288 -23.3 80 216 62 664 -21.9
Of which            
Crude oil  228 804  128 497 -43.8 33 628 23 478 -30.2
Natural gas  115 107  123 503 7.3 15 614 12 180 -22.0
Condensates 7 071 4 649 -34.2 1 040  785 -24.5
3 Exports excl. crude oil, natural gas and condensates  209 831  173 639 -17.2 29 935 26 220 -12.4
4 Trade balance (2-1)  280 765  190 183 -32.3 40 411 30 844 -23.7
5 Trade balance excl. oil, natural gas and condensates (3-1) -70 217 -66 466 . -9 871 -5 600 .

More exports of machinery and fish

Exports of goods, excluding ships, oil platforms, crude oil, condensates and natural gas, reached NOK 26.2 billion in July this year, compared to NOK 29.9 billion in July last year.

Exports of machinery and transport equipment increased more than NOK 1 billion compared to July 2008, ending at NOK 7.1 billion. General industrial machinery doubled its value from July last year and came to NOK 3.1 billion.

Furthermore, the exported value of fish increased by almost NOK 1 billion - to NOK 3.3 billion. Since September 2008 the exported value of fish has been at a high level, with monthly values over NOK 3 billion.

Manufactured goods on the other hand, declined NOK 1.8 billion. The export value of these goods came to NOK 5.6 billion in July. As a result of low metal prices, non-ferrous metals pulled down, with a drop of NOK 1.2 billion compared to the corresponding month in 2008.

Less imports of passenger cars and industrial machinery

The imported value of goods in July, excluding ships and oil platforms, came to NOK 31.8 billion, while July last year ended at NOK 39.8 billion.

Imports of machinery and transport equipment showed the largest change, down NOK 3 billion from July 2008, ending at NOK 12 billion this July. Within this group, road vehicles, specialized machinery and general industrial machinery declined NOK 797 million, NOK 552 million and NOK 520 million respectively.

The main group of manufactured goods decreased NOK 2 billion in July compared to the corresponding period in 2008. Within this group, manufactures of metals and non-ferrous metals together dropped NOK 1.4 billion.

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