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84790
Stable mainland exports
statistikk
2012-09-17T10:00:00.000Z
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 2012

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Stable mainland exports

In August, the total value of exported goods was NOK 74.8 billion. This is a rise of NOK 5.2 billion compared to the corresponding month the previous year. During the same period, imports went up by 1.9 per cent to NOK 41.1 billion. Mainland exports rose marginally to NOK 29.8 billion.

In August, the trade surplus amounted to NOK 33.8 billion. This is an increase of 15.1 per cent compared to the corresponding month last year. The combination of large growth in exports relative to the import growth led to the increased trade surplus. The increased value of the natural gas export was the main reason for the rise in exports, but the higher value of crude oil also contributed.

Hike in the oil price

In August, the total value of exported crude oil was NOK 27.2 billion. This is NOK 1.5 billion more than the corresponding month last year. The number of exported barrels decreased while the price per barrel increased. A total of 40.3 billion barrels of crude oil were exported in August. This is 2 million barrels, or 4.6 per cent less than the corresponding month last year. The price of crude oil recovered further from the year low reached in June 2012, when the price was down to NOK 577 per barrel. Since then, the price of crude oil has risen by almost NOK 100, to NOK 675 per barrel in August.

Increased exports of natural gas

The exports of natural gas amounted to NOK 17.5 billion in August. This is NOK 3.3 billion more than the corresponding month the previous year, but NOK 2.8 billion less than July 2012. A total of 7.5 billion cubic metres (sm3) of natural gas in a gaseous state were exported. This was a little more than the corresponding month the previous year.

External trade in goods, excl. ships and oil platforms. NOK million
  January-August Change in
per cent 		August Change in
per cent
  2011 2012 2011 2012
1 Imports  320 571       326 924 2.0       40 308       41 063 1.9
2 Exports  579 908  632 415 9.1 69 644 74 838 7.5
Of which            
Crude oil  215 600  216 721 0.5 25 757 27 217 5.7
Natural gas  121 903  169 429 39.0 14 182 17 459 23.1
Condensates 5 195 6 563 26.3  391  624 59.7
3 Exports excl. crude oil, natural gas and condensates  237 210  239 702 1.1 29 314 29 537 0.8
4 Trade balance (2-1)  259 337  305 490 17.8 29 336 33 775 15.1
5 Trade balance excl. oil, natural gas and condensates (3-1) -83 361 -87 223 . -10 994 -11 526 .

Stable mainland exports

The exports of mainland goods in August were stable compared to the corresponding month the previous year, and increased by only NOK 223 million to NOK 29.5 billion. The main commodity groups had a positive development on the whole since seven out of ten groups had an increase in exports.

Within the main commodity group machinery and transport equipment, the value of export amounted to NOK 5.9 billion. This was an increase of NOK 1.3 billion, or 28.4 per cent compared to the same month the previous year. The commodity groups machinery specialised for particular industries, general industrial machinery and electrical machinery increased the most, with a total of NOK 1.3 billion.

The exports of fish, crustaceans and mollusc amounted to NOK 3.9 billion, up from NOK 3.4 billion in August 2011. This is an increase of 13.2 per cent and is mainly due to higher export volumes of salmon.

The largest decrease is found within the main commodity group manufactured goods, which fell by NOK 393 million, to NOK 6 billion from August 2011. Of the sub-commodities, non-ferrous metals decreased the most, from NOK 4 billion in August 2011 to NOK 3.4 billion in August this year. Within the main commodity group chemical products, the value of exports fell by NOK 332 million to NOK 3.4 billion. The sub-groups inorganic and other chemical products accounted for most of the decrease. From August 2011 to 2012, the exports of these groups went down by NOK 456 million.

Small growth in imports

The value of imported goods excluding ships and oil platforms amounted to NOK 41.1 billion in August. This is NOK 755 million, or 1.9 per cent more than in August 2011.

The largest increase in imports is found in the main commodity group mineral fuels and lubricants. From August 2011 to 2012, the imports of this group increased by NOK 1.1 billion, to NOK 3.1 billion. Most of this increase can be attributed to increased imports of petroleum and petroleum products.

Inedible crude materials except fuels was the main commodity group with the largest decrease in imports from August 2011 to 2012. The decrease was mainly due to a NOK 677 million fall in imports of metalliferous ores and metal scrap. The lower value of this import was mainly due to lower prices on input factors to the metal industry. Imports from the commodity group general industrial machinery increased to NOK 2.2 billion from NOK 1.8 billion in August 2011. This was an increase of NOK 379 million.

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