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54150
High export value of crude oil and petroleum products
statistikk
2011-05-16T10:00:00.000Z
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, April 2011

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High export value of crude oil and petroleum products

In April, the export of goods amounted to NOK 75.5 billion, while imports amounted to NOK 36.3 billion. The trade surplus ended at NOK 39.2 billion, and thus increased by 48.3 per cent compared to April 2010.

The export value increased by NOK 13 billion, or 20.6 per cent, compared to April last year. High crude oil prices and strong export value of refined petroleum products contributed significantly. There was little change in imports, which went up 0.4 per cent. In total this led to a strong trade surplus in April.

Strong crude oil prices

The average price per barrel of crude oil was NOK 674 in April. This was up NOK 171 from April last year and NOK 22 from the previous month.

The total value of the export of crude oil amounted to NOK 32.4 billion, which was an increase of 28.1 per cent compared to the same period last year. The price hike led to an increase in the value despite the number of exported barrels falling by 3 million.

Small changes in exports of natural gas

The value of natural gas exports ended at NOK 12 billion this April. This was up 1.4 per cent compared to April 2010. A total of 6.7 billion cubic metres of natural gas in gaseous state were exported; about 990 million cubic metres less than April 2010.

External trade in goods, excl. ships and oil platforms. NOK million
  January-April Change
in per cent 		April Change
in per cent
  2010 2011 2010 2011
1 Imports  139 232     160 247 15,1    36 167    36 325 0,4
2 Exports  261 276  297 294 13.8 62 596 75 518 20.6
Of which            
Crude oil 94 708  114 591 21.0 25 317 32 419 28.1
Natural gas 58 150 61 326 5.5 11 975 12 147 1.4
Condensates 1 765 3 031 71.7  472  879 86.4
3 Exports excl. crude oil, natural gas and condensates  106 653  118 347 11.0 24 832 30 074 21.1
4 Trade balance (2-1)  122 044  137 047 12.3 26 429 39 194 48.3
5 Trade balance excl. oil, natural gas and condensates (3-1) -32 579 -41 901 . -11 334 -6 251 .

Refined mineral products reached all time high

Exports of goods excluding ships, oil platforms, natural gas, crude oil and condensates came to NOK 30.1 billion, or 21.1 per cent more than April 2010.

Most commodity groups showed an increase in export values compared to April 2010.

The biggest increase was in the product group for refined minerals, which went up NOK 3.7 billion compared to April last year, ending at an all time high of NOK 5.8 billion. Additionally, the export value of propane and butane increased by NOK 589 billion and amounted to NOK 2 billion in April 2011.

A large increase was also seen in fish exports, which reached NOK 4 billion, up by NOK 530 million compared to April 2010. Furthermore, the export value of non-ferrous metals rose by NOK 393 million, amounting to NOK 3.9 billion. This was mainly due to higher export values of aluminium and nickel. Exports of inorganic chemicals ended at NOK 696 million; an increase of NOK 291 million compared to April 2010. Within this group, high export values of silicon contributed the most.

Machinery and transport equipment fell by NOK 498 million, ending at NOK 4.3 billion. Within this group, electrical machinery, apparatus and appliances declined by NOK 205 million while industrial machinery dropped NOK 285 million.

Small changes in imports

Imports of goods excluding ships and oil platforms came to NOK 36.3 billion; an increase of 0.4 per cent compared to April 2010.

The import value of petroleum and related materials had the largest increase compared to April last year and went up by NOK 366 million, ending at NOK 2.1 billion. Iron and steel rose by NOK 193 million, amounting to NOK 969 million.

Inedible crude materials had the largest decline. Within this group, metalliferous ores and metal scrap fell by NOK 1.2 billion compared to April last year, ending at NOK 1.7 billion. Machinery and transport equipment came to NOK 12.7 billion in April 2011. This constituted a decrease of NOK 248 million compared to the corresponding period last year. Within this group, other transport equipment showed the largest decline, of NOK 601 million. An increase in the import value of road vehicles by NOK 258 million muted the decline in trade values of the group as a whole.

Revisions in the external trade statistics for the years 2008, 2009 and 2010

As from 10 am on 16 May 2011, Statistics Norway’s website ssb.no will be updated with final figures for 2010 and corrected final figures for 2008 and 2009 . The revisions of previous final figures mainly relate to the export of natural gas and are based on adjusted figures from the gas producers. The export value of natural gas has consequently been revised down by almost NOK 6 billion in 2008 and approximately NOK 39 billion in 2009. The changes have also been made in StatBank .

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