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37960
Increase in the trade surplus
statistikk
2010-12-15T10:00:00.000Z
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, November 2010

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Increase in the trade surplus

In November, exported goods totalled NOK 71.9 billion and imported goods totalled NOK 40.8 billion. This led to a strong trade surplus which increased by 31.6 per cent from last month, and 21.7 per cent from November last year. Increased value for the exports of crude oil and natural gas contributed considerably.

The trade surplus ended at its highest value since February, and the value of the exports has not been as high since December 2008.The value of the export of goods was 9.6 per cent higher than the corresponding month last year. The import of goods showed an increase of 1.8 per cent for the same period. This increase was in spite of a frigate imported by the Norwegian Armed Forces in November last year at the value of approximately NOK 3.7 billion. If we exclude the frigate, the increase in the trade surplus would have been only 6.2 per cent from November last year.

Increase in the oil price

The average price per barrel of crude oil was NOK 546 in November. This is up by NOK 57 from October and NOK 114 from November last year. A total of 46.7 million barrels were exported in November this year.

The price hike led to an overall increase in the value of crude oil exports from 8.9 per cent to NOK 25.5 billion, even though 7.5 million barrels less were exported in comparison to the same month last year.

Increase in the volume of natural gas exports

The value of natural gas exports ended at NOK 15 billion in November. This is up by 8 per cent from November last year and 9.3 per cent from last month.

A total of 9.3 billion cubic metres of natural gas in gaseous state were exported in November 2010. This is up 6.5 per cent from November last year.

External trade in goods, excl. ships and oil platforms. NOK million
  January-November Change in per cent November Change in per cent
  2009 2010 2009 2010
1 Imports  391 079  410 368 4.9 40 023 40 751 1.8
2 Exports  683 213  708 939 3.8 65 580 71 859 9.6
Of which            
Crude oil  220 501  256 058 16.1 23 383 25 467 8.9
Natural gas  176 393  141 750 -19.6 13 841 14 955 8.0
Condensates 6 477 5 913 -8.7  678  429 -36.7
3 Exports excl. crude oil, natural gas and condensates  279 841  305 218 9.1 27 678 31 008 12.0
4 Trade balance (2-1)  292 134  298 571 2.2 25 557 31 108 21.7
5 Trade balance excl. oil, natural gas and condensates (3-1) -111 237 -105 151 .  -12 345 -9 744 . 

Increase in the imports of cars

The value of imports excluding ships and oil platforms amounted to NOK 40.8 billion. This is an increase of 1.8 per cent from November last year.

The group consisting of road vehicles increased by NOK 896 million to NOK 4.4 billion. The number of cars came to 19 000, which is the highest since October 2007. Furthermore, the group of non-ferrous metals increased by NOK 635 million to NOK 1.4 billion, and electric current was NOK 400 million higher than at the same period last year. Other manufactured articles ended at NOK 3.1 billion; an increase of NOK 485 million in comparison to November last year.

The largest decline was in the group of other transport equipment, which fell significantly by NOK 4.5 billion. This decrease is based on a calculation including a frigate imported by the Norwegian Armed Forces in November last year, at a value of about NOK 3.7 billion.

Increased exports of fish, metals and industrial machinery

Export of goods excluding ships, oil platforms, natural gas, crude oil and condensates came to NOK 31 billion in November, which is the highest since October 2008. This is up by NOK 3.3 billion or 12 per cent from the corresponding month last year.

The largest increase compared to November last year was in the groups of non-ferrous metals, which increased by NOK 993 million to NOK 4.1 billion. Additionally, the group of general industrial machinery and equipment increased by NOK 1.1 billion to NOK 2.5 billion.

The export value of fish continued its strong tendency and ended at NOK 5.5 billion, which was NOK 844 million higher than the corresponding month last year, but somewhat lower than the previous month.

Refined mineral products fell by NOK 877 million, and came to NOK 1.9 billion compared to November last year. The export value of liquefied propane and butanes was NOK 1.6 billion, which is NOK 537 million lower than the same period last year.

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