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54158
Trade surplus over NOK 30 billion
statistikk
2011-09-15T10:00:00.000Z
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 2011

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Trade surplus over NOK 30 billion

The export of goods amounted to NOK 72.1 billion in August, while the imports reached NOK 40 billion. The surplus on trade in goods was NOK 32 billion; over 50 per cent larger than August last year.

Mainland exports rose by almost 10 per cent from August last year. However, the gain was 27.2 per cent if we include crude oil, natural gas and condensates. The increase in overall trade surplus was driven by the increase in exports of crude oil and natural gas.

Crude oil price still above NOK 600

Crude oil exports came to NOK 25.8 billion in August; an increase of almost 30 per cent from last year, but a decline of 13 per cent from July. The reduction in value from July resulted both from a lower volume and price component, while they both increased compared to last August. The increase in the amount of exported barrels was 1.5 million from the same period last year. Additionally, there was a significant hike in the price per barrel compared to a year ago, from NOK 487 to NOK 610. The price in July was even higher, at NOK 648.

Increase in the value of natural gas exports

The exports of natural gas amounted to NOK 16.9 billion in August, equalling an increase of 77 per cent compared to last year.

The increase in volume, in the same period, for natural gas in a gaseous state, came to almost 1.8 billion cubic metres, or 33 per cent.

External trade in goods, excl. ships and oil platforms. NOK million
  January-August Change in
per cent 		August Change in
per cent
  2010 2011 2010 2011
1 Imports  287 099  320 380 11.6 35 901 40 030 11.5
2 Exports  505 690  575 473 13.8 56 666 72 072 27.2
Of which            
Crude oil  179 712  218 583 21.6 19 880 25 818 29.9
Natural gas  105 654  114 884 8.7 9 566 16 895 76.6
Condensates 4 345 5 304 22.1  763  391 -48.8
3 Exports excl. crude oil, natural gas and condensates  215 979  236 702 9.6 26 456 28 968 9.5
4 Trade balance (2-1)  218 591  255 093 16.7 20 764 32 043 54.3
5 Trade balance excl. oil, natural gas and condensates (3-1) -71 120 -83 678 . -9 445 -11 061 .

Increase in exports

Exports, excluding ships, oil platforms, crude oil, natural gas and condensates, amounted to NOK 29 billion in August, up 9.5 per cent compared to August 2010.

This increase partially comprised of refined mineral products, up 60.3 per cent to NOK 4.9 billion compared to August last year. Furthermore, electric current increased by NOK 500 million, and came to NOK 713 million. Liquefied propane and butanes were up 22.2 per cent to NOK 1.8 billion compared to last August, while the group non-ferrous metals grew by 6.9 per cent to just under NOK 4 billion.

Partially offsetting this increase was a decline of NOK 421 million in the group general industrial machinery, to NOK 916 million compared to the same month last year. Other chemical products fell 13.8 per cent, to NOK 1.8 billion, while the exports of fish were down 4.1 per cent compared to a year ago. One of the main reasons for the latter fall was a far lower price for fresh whole salmon.

Rise in imports

Import of goods, excluding ships and oil platforms, came to about NOK 40 billion in August. This was an increase of 11.5 per cent.

The increase in imports was led by the group machinery specialised for particular industries, which grew by NOK 543 million to NOK 1.6 billion from August last year. A less pronounced increase of NOK 454 million was present in the group metalliferous ores and metal scrap. Road vehicles also accounted for an increase of NOK 402 million compared to last year.

Organic chemicals declined by 28.5 per cent to NOK 565 million. Electric current came to NOK 42 million; NOK 273 million less than the same period last year. The net export of electric current was thus NOK 671 million.

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