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37990
Decline in external trade
statistikk
2009-09-15T10:00:00.000Z
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, August 2009

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Decline in external trade

Imported goods totalled NOK 33.1 billion in August, while exports amounted to NOK 58 billion. The trade balance ended at NOK 24.9 billion, which was down NOK 5.9 billion from July.

The reduction in the trade balance compared to last month was caused by an increase in imports together with a decline in exports. The downturn in exports came primarily from a reduction in refined oil products and general industrial machinery. Compared to last August, the trade surplus has shrunk by 42 per cent from NOK 43 billion. This is mainly explained by the reduction in the value of crude oil exports.

Oil price reached high for 2009

The value of the crude oil export ended at NOK 22.8 billion for August. This was NOK 653 million lower than last month. The cause of the downturn was a reduction in the amount of exported barrels by 5.2 million, which was not fully offset by an increase in the price by NOK 29 from July. Compared to a year ago, both the amount of barrels and the mean price have been significantly reduced. The reduction in the value of crude oil exports from last August amounted to NOK 14.3 billion.

Small changes in export value of natural gas

The value of the export of natural gas ended at NOK 11.9 billion for August. This is down 1.1 per cent from a year ago, and a similar fall compared to last month. The reduction compared to last August came in spite of 1.5 billion cubic metres more exported gas in a gaseous state.

External trade in goods, excl. ships and oil platforms. NOK million
  January-August Change in per cent August Change in per cent
  2008 2009 2008 2009
1 Imports  315 831  273 155 -13.5 35 783 33 090 -7.5
2 Exports  639 575  488 289 -23.7 78 762 58 021 -26.3
Of which            
Crude oil  265 936  151 322 -43.1 37 132 22 825 -38.5
Natural gas  127 109  135 369 6.5 12 002 11 866 -1.1
Condensates 7 845 4 972 -36.6  774  323 -58.3
3 Exports excl. crude oil, natural gas and condensates  238 685  196 625 -17.6 28 854 23 007 -20.3
4 Trade balance (2-1)  323 743  215 134 -33.5 42 978 24 932 -42.0
5 Trade balance excl. oil, natural gas and condensates (3-1) -77 147 -76 530 . -6 929 -10 083 .

Decline in exports of refined mineral products and metal

Exports excluding ships, oil platforms, crude oil, natural gas and condensates amounted to NOK 23 billion for August. This was down 5.8 billion from a year ago.

The biggest decline was in the group for manufactured goods classified chiefly by material, which fell NOK 2.1 billion. Within this group, iron and steel declined by NOK 996 million while non-ferrous metals fell by NOK 894 million. Refined mineral products declined by NOK 1.1 billion to NOK 2.6 billion, while liquefied propanes and butanes fell by the same amount.

The group with the largest increase compared to last August, was fish, crustaceans and molluscs, and preparations thereof. Despite this, the monthly export value of fish was under NOK 3 billion for the first time in a year.

General downturn in imports

In August the import value of goods excluding ships and oil platforms amounted to NOK 33.1 billion. This is a decline of NOK 2.7 billion compared to last August, but an increase of NOK 1.3 billion from July.

The decline in manufactured goods classified chiefly by material amounted to NOK 1.2 billion, of which NOK 510 million was a decline in non-ferrous metals compared to the corresponding month last year. Machinery and transport equipment decreased by NOK 902 million compared to August last year and within this group machinery specialised for particular industries and general industrial machinery and equipment decreased by NOK 595 and NOK 383 million respectively.

The largest increase was found in the group for power generating machinery and equipment, which had an export value of NOK 264 million higher than one year ago.

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