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Further decline in foreign trade in goods
statistikk
2013-06-17T10:00:00.000Z
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, May 2013

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Further decline in foreign trade in goods

The export of goods in May amounted to NOK 72.9 billion, while imports ended at NOK 42.8 billion. Both fell compared to May 2012, by 11.2 and 3.6 per cent respectively. The export of crude oil declined the most but mainland exports were also considerably lower than last year.

External trade in goodsPublished 17 June 2013
NOK MillionChange in per centNOK Million - so far this yearChange in per cent - so far this year
May 2013April 2013 - May 2013May 2012 - May 2013May 2013May 2012 - May 2013
1Due to the data collection method, the preliminary monthly figures published for ships and oil platforms are often incomplete. In retrospect, therefore, the trade in these goods could in some cases lead to major corrections in the figures. Please see tables 2-4 for the impact these figures have on the external trade.
Imports42 773-6.1-3.6209 8012.2
Ships and oil platforms1373.-57.42 586-32.6
 
Exports72 8591.4-11.2369 921-11.7
Crude oil23 58919.3-16.6112 871-20.6
Natural gas19 223-11.5-3.9103 181-10.4
Natural gas condensates78946.5-17.83 851-35.5
Ships and oil platforms111313.0-90.51 650-46.4
Mainland exports29 145-1.9-7.8148 370-2.6
 
The trade balance30 08614.3-20.1160 121-24.9
The mainland trade balance-13 25516.2-11.4-58 84419.6

Source: Statistics Norway

The trade balance thus ended at NOK 30.1 billion; a 20.1 per cent reduction compared to the corresponding period last year.

Lower oil exports

The value of crude oil exports amounted to NOK 23.6 billion in May; a 16.6 per cent decrease compared with last year. Both volume and price changes influenced the development. A total of 39.2 million barrels of oil were exported in May 2013, which is 5.4 million fewer than in May 2012. The price per barrel of crude oil fell by almost NOK 32 in the same period, ending at NOK 601 per barrel.

Exports of natural gas also decreased somewhat, by 3.9 per cent, to a total of NOK 19.2 billion in May. A total of 8.6 billion standard cubic metres of natural gas were exported in the same month; almost the same as the year before.

Higher exports of fish

The export of the commodity group food and live animals increased by 24.5 per cent compared to last May. The rise was due to higher salmon prices, which pushed the value of the fish exports up considerably, to NOK 4.8 billion altogether.

However, the total exports of mainland goods amounted to NOK 29.1 billion in May; 7.8 per cent lower than the corresponding month last year. The export of all main commodity groups, except food and live animals, decreased.

The largest decline was for the group refined mineral products, where the export was reduced by almost 20 per cent compared to last May to NOK 3.8 billion. Machinery and transport equipment also fell by 13 per cent. The sub-groups other transport equipment and electrical machinery contributed most to the decline. Manufactured goods amounted to NOK 5.8 billion; down NOK 415 million from last year. Exports of all kinds of metals fell, with the largest fall in iron and steel. The value of the latter group dropped 19.8 per cent from 2012.

Lower imports

Imports in May amounted to NOK 42.8 billion; down NOK 1.6 billion, or 3.6 per cent, compared with the same period last year. The decline was distributed across several commodity groups.

Imports of mineral fuels fell by NOK 1.3 billion, which is equivalent to 32.5 per cent. The group amounted to NOK 2.7 billion. Manufactured goods also declined by 13.5 per cent, totalling NOK 6.4 billion in May this year.

The groups machinery and transport equipment and crude materials increased the most. The former ended at NOK 16.8 billion; up 2.9 per cent, while the latter amounted to NOK 2.9 billion; an increase of 13.5 per cent.

Changes in county of production for mainland exportsOpen and readClose

For this release there has been conducted a main revision of the variable county of production back to 2008 –on exports only. Two types of revisions have been carried out. First the data material has been examined for use of wrong codes, in cases where the code for county is known (county code 1-22, 29 and 91). In addition there has been carried out automatic changes on values containing unknown county 99 (county of production 99). The controls have been performed by using existing information from custom declarations and by utilizing information that indicate where the reporting unit has its production facilities. Such information is available in the Central register of enterprises and establishments in SSB. In addition some enterprises have been contacted.

The changes as they appear for the previous two years, show that exports from Oslo and Akershus has decreased, or presented in an other way “the headquarter effect has diminished”. Further the exports of commodities for whole or parts of enterprises have been moved to other counties. At last the value of unknown county has gone down and the value of “produced abroad/direct transit” has increased. The changes for the year 2008 until present show the same pattern.

Corresponding controls will be performed on the data material monthly. In addition there will be carried out some extended controls when December data is published, which gives annual data.

Updated figures are available in the statbank, changes are shown i table 14.