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37968
Trade surplus increased since June
statistikk
2010-08-16T10:00:00.000Z
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 2010

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Trade surplus increased since June

In July, exports came to NOK 61.7 billion while imports reached NOK 33.3 billion. This gave a trade surplus of NOK 28.4 billion. The surplus was NOK 2.9 billion higher than in June, but NOK 1.6 billion lower than July last year.

The increase in trade surplus from June to July this year is explained by higher import figures in the first month. The decline in trade surplus compared with July last year is explained by both higher imports and reduced exports in July this year.

High crude oil price in July

The export value of crude oil in July came to NOK 23.2 billion; only a marginal decline from July last year. However, there was a major difference in the distribution between price and volume. The number of crude oil barrels exported was 48.0 million, compared to 56.5 million in July last year. The price per barrel was on the other hand much higher: NOK 485 in July this year and only NOK 412 in July last year. Compared with June this year, both the price per barrel and the number of barrels exported were somewhat down. Looking at the first seven months this year, there was a fall in the number of barrels exported of 8 per cent compared to January to July last year. A similar comparison for the price per barrel showed an increase of 35 per cent.

Falling exports of natural gas

The exported value of natural gas in July came to NOK 11.4 billion. This is a 6.5 per cent fall from July last year, due to lower export volume. The exported volume in July also fell compared with June this year.

External trade in goods, excl. ships and oil platforms. NOK million
  January-July Change in per cent July Change in per cent
  2009 2010 2009 2010
1 Imports  241 027       250 928 4,1       32 482       33 321 2,6
2 Exports  436 603  451 868 3.5 62 422 61 700 -1.2
Of which            
Crude oil  131 369  163 523 24.5 23 263 23 248 -0.1
Natural gas  127 658 95 616 -25.1 12 151 11 358 -6.5
Condensates 4 649 3 582 -23.0  785  851 8.4
3 Exports excl. crude oil, natural gas and condensates  172 926  189 147 9.4 26 223 26 244 0.1
4 Trade balance (2-1)  195 576  200 940 2.7 29 941 28 379 -5.2
5 Trade balance excl. oil, natural gas and condensates (3-1) -68 101 -61 782 . -6 258 -7 077 .

Increased exports of metals, chemical products and fish

The export value in July excluding ships, oil platforms, crude oil, condensates and natural gas ended at NOK 26.2 billion. This was only a marginal decrease from July last year.

Exports of chemicals and related products amounted to NOK 3.5 billion. This is an increase of NOK 760 million or 27.5 per cent from July last year. Within this group, other chemical products together with inorganic and organic chemicals had a joint increase of NOK 556 million.

Among metals, the export value of iron and steel as well as non-ferrous metals showed increased values, by NOK 368 million, equal to 48.2 per cent, and NOK 717 million, or 26.6 per cent. On the other hand, the group manufactures of metals had a 47.8 per cent fall of NOK 532 million.

The fish export rose by NOK 484 million; 14.9 per cent, from July last year, ending at NOK 3.7 billion.

The main commodity group machinery and transport equipment went down NOK 2.3 billion, and thereby totalled NOK 4.9 billion in July this year. Several commodities contributed to this decline.

Increased imports of vehicles but less imported machinery

The import value of goods excluding ships and oil platforms amounted to NOK 33.3 billion in July. This is a small increase of 2.6 per cent compared to July last year.

The commodity group including machinery and transport equipment, which accounted for about 38 per cent of total imports, showed little change overall, but with some variations within the group. Road vehicles was one of the products that had a growth, and expanded by NOK 693 million, or 26.0 per cent, compared with July 2009. The total number of imported vehicles reached 54 000 - an increase of around 7 500. Telecommunications apparatus and equipment also rose in the same period. The growth of NOK 132 million was equivalent to 9.2 per cent.

On the other hand, imports of various types of machinery decreased compared with July last year. General industrial machinery and power generating machinery declined by NOK 175 million and NOK 218 million respectively. In addition, machinery specialised for particular industries fell by NOK 98 million and metalworking machinery decreased by NOK 21 million.

Non-ferrous metals rose by NOK 286 million or 51.6 per cent, while imports of iron and steel fell by NOK 74 million. Metalliferous ores and metal scrap dropped by NOK 643 million; equivalent to 44.8 per cent.

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