37972_not-searchable
/en/utenriksokonomi/statistikker/muh/arkiv
37972
Low oil exports in May
statistikk
2010-06-15T10:00:00.000Z
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, May 2010

Variants of the statistics:

Content

Published:

This is an archived release.

Go to latest release

Low oil exports in May

In May, exports came to NOK 61.2 billion and imports were NOK 34.7 billion. Both exports and imports increased compared to last year, resulting in a trade surplus of NOK 26.6 billion in May.

The value of the export of goods increased by 10.3 per cent since May last year, but declined by 3.7 per cent since last month. The downturn can be explained by the decline in the export value of crude oil, since both the mainland export and the export value of natural gas increased in the same period.

Crude oil exports down in May

In May, the export value of crude oil ended at NOK 20 billion. The number of exported barrels was 42 million, down from 50.3 million in May last year. Both exported volume and value were lower than the previous months in this year. Several circumstances contributed to low crude oil figures in May. Stock changes as well as partly closed fields pulled down the result. The average crude oil price in May was NOK 476, down NOK 30 since April, and up NOK 105 compared to May 2009.

Increased exports of natural gas

The value of natural gas exports came to NOK 14.4 billion. This is an increase of 15.5 per cent since last month and 9 per cent since May last year.

In May, 8.5 billion cubic metres of natural gas in a gaseous state were exported, which is an increase since both April and the corresponding month a year ago.

External trade in goods, excl. ships and oil platforms. NOK million
  January-May Change in
per cent 		May Change in
per cent
  2009 2010 2009 2010
1 Imports      172 402       174 787 1.4      33 289      34 696 4.2
2 Exports  316 632  323 237 2.1 55 534 61 247 10.3
Of which            
Crude oil 89 399  116 054 29.8 18 700 20 006 7.0
Natural gas  103 528 71 559 -30.9 13 180 14 367 9.0
Condensates 2 727 2 243 -17.7 1 183  478 -59.6
3 Exports excl. crude oil, natural gas and condensates  120 977  133 381 10.3 22 472 26 396 17.5
4 Trade balance (2-1)  144 229  148 450 2.9 22 245 26 552 19.4
5 Trade balance excl. oil, natural gas and condensates (3-1) -51 425 -41 406 . -10 817 -8 300 .

More exports of fish to the USA

The export value in May, excluding ships, oil platforms, crude oil, condensates and natural gas, ended at NOK 26.4 billion. This is an increase of NOK 3.9 billion, or 17.5 per cent, compared to May last year.

Several commodity groups confirm strong exports in May. The export value of manufactured goods went up in May. Within this group, non-ferrous metals pulled the value up with a total growth of NOK 1.3 billion.

Exports of chemicals and related products increased NOK 732 million in May, to NOK 3.4 billion.

The export value of fish reached NOK 3.8 billion. This equals an increase of NOK 550 million or 17.5 per cent. France was our largest market. However, fish disease in Chile has, over a period of time improved other markets. Exports of fish to the USA in May went up NOK 82 million or 64 per cent from the corresponding month in 2009. From January to May, fish exports to the USA almost doubled, from NOK 541 million last year, to NOK 956 million this year. On the other hand, exports of machinery and transport equipment declined. The export value was reduced by NOK 1.2 billion ending at NOK 4.8 billion.

Increased import of cars

The import value of goods excluding ships and oil platforms amounted to NOK 34.7 billion. This is an increase of 4.2 per cent and a decline of 4.7 per cent since the same month last year and April respectively.

The value of road vehicles increased by 26.4 per cent since May last year and came to NOK 3.7 billion. A total of 15 100 cars were imported in May, which is 4 650 more than May last year. Metalliferous ores and metal scrap was NOK 650 million higher than the same period last year, while the import value of electric current increased by NOK 497 million from a year ago.

The group consisting of other transport equipment ended at NOK 978 million, NOK 731 million lower than last year. The decline in general industrial machinery and equipment, down NOK 441 million, and machinery specialised for particular industries, down NOK 324 million, contributed to a decline of NOK 736 million for the group machinery and transport equipment. This was in spite of the rise in import of cars.

Tables: