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37966
Downturn in the trade surplus
statistikk
2010-09-15T10:00:00.000Z
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 2010

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Downturn in the trade surplus

The amount of goods exported in August reached NOK 56.5 billion, while imports amounted to NOK 35.8 billion. The trade balance declined by 10.4 per cent from August last year and ended at NOK 20.7 billion. The reduced exports of natural gas and crude oil together with a rise in imports contributed to this.

The export value of goods showed a marginal decline of 0.5 per cent from August last year. The imports rose by 6.3 per cent in the same period. Planned maintenance work reduced the exports of natural gas and crude oil, which in turn reduced the total exports. The trade balance contracted by 27 per cent compared to last month and has not been this low since June 2005.

Reduced exports of natural gas

The value of natural gas exports came to NOK 9.1 billion in August. This is a decline of 20 per cent from August last year and approximately the same from last month.

A total of 5.3 billion cubic metres of natural gas in a gaseous state was exported in August this year - down 23.9 per cent from the same period last year.

Less crude oil exports

The exported volume of crude oil was especially low in August and amounted to 41.6 million barrels. This is down 13.3 per cent from last month and 17.8 per cent from the same period last year.

The export value of crude oil ended at NOK 20.1 billion. This is a decline of 9 per cent from the same period last year. The average price per barrel was NOK 483, which is NOK 47 higher than the corresponding period one year ago.

External trade in goods, excl. ships and oil platforms. NOK million
  January-August Change in per cent August Change in per cent
  2009 2010 2009 2010
1 Imports  274 730        286 796 4,4        33 703        35 816 6,3
2 Exports  493 373  508 362 3.0 56 770 56 480 -0.5
Of which            
Crude oil  153 438  183 606 19.7 22 069 20 083 -9.0
Natural gas  138 998  104 691 -24.7 11 340 9 074 -20.0
Condensates 4 972 4 635 -6.8  323 1 053  226.3
3 Exports excl. crude oil, natural gas and condensates  195 964  215 430 9.9 23 039 26 270 14.0
4 Trade balance (2-1)  218 643  221 565 1.3 23 067 20 664 -10.4
5 Trade balance excl. oil, natural gas and condensates (3-1) -78 765 -71 366 . -10 665 -9 546 .

Rise in import of cars

The imports of goods excluding ships and oil platforms came to NOK 35.8 billion. This is an increase of 6.3 per cent from the corresponding month last year and 7.2 per cent from July 2010.

The import value of road vehicles was NOK 3 billion, which is an increase of 16.9 per cent from August last year. About 1 300 more cars were imported in the same period. Organic chemicals rose by NOK 410 million, while the import of non-ferrous metals was NOK 275 million higher than the same month last year.

The largest decline was in the group power generating machinery and equipment, which decreased by NOK 404 million compared to August last year. In the group other transport equipment, imports declined by NOK 317 million.

Increase in (mainland) exports

The export value of goods excluding ships, oil platforms, crude oil, natural gas and condensates came to NOK 26.3 billion. This is an increase of NOK 3.2 billion or 14 per cent from August last year.

The group consisting of non-ferrous metals increased by NOK 688 million from the same month a year ago. The export of fish was NOK 620 million higher, while other chemical products increased by NOK 468 million. Exports of refined mineral products rose by NOK 466 million, while electric current declined by NOK 282 million.

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