External trade in services, Q3 2013

In the 3rd quarter of 2013, Norwegian non-financial enterprises, including the shipping industry, exported services for NOK 46 billion. From the 2nd to the 3rd quarter, the export of services went down by 4.2 per cent. This decrease amounted to NOK 2 billion. Despite the decrease, the export of services in the 3rd quarter of 2013 was level with the same quarter in 2012.

Import of services ended at NOK 49 billion in the 3rd quarter of 2013. Compared to the 2nd quarter of 2013, this was an increase of NOK 1 billion, equivalent to 1.8 per cent.

Export of sea and coastal water transport dominates

Sea and coastal water transport services continues to be Norway’s largest export group of services. These services accounted for 37.9 per cent of the total service export in the 3rd quarter of 2013, and amounted to NOK 18 billion. Business services ended at NOK 9 billion, down 8 per cent from the 2nd quarter, and accounted for one fifth of the service export.

Looking at Norway’s service import, oil and gas services continue to dominate the import in the 3rd quarter, with a share of 23 per cent. These services amounted to NOK 11 billion in the 3rd quarter, which was an increase of 10.6 per cent from the previous quarter. Services related to supporting and auxiliary transport activities, travel agency activities and business services are also large contributors within import of services. Separately, they stand for about NOK 9 billion in the 3rd quarter of 2013, each accounting for one fifth of the total service import.

Transportation and storage industry largest export service

As in the 2nd quarter of 2013, the transportation and storage industry dominates the export of services with a share of 49.5 per cent of the total service export. From the 2nd quarter to the 3rd quarter this year, the export of services from this industry grew by NOK 0.5 billion. This increase corresponds to a percentage increase of 2.5 per cent from the previous quarter.

With regard to the import of services, there are two industries that are competing to be the largest sector, mainly non-financial businesses within the transportation and storage sector, and the mining and quarrying sector. In the 3rd quarter of the year, the latter sector was the largest, with an import of NOK 15 billion, and the transportation and storage sector had an import of NOK 13 billion. Compared with the 2nd quarter in the previous year, the transportation and storage sector rose by NOK 0.5 billion, and the mining and quarrying sector by NOK 2 billion in the 3rd quarter of 2013.

Increased trade in services with EU countries

Norway’s external trade with EU countries other than the Nordic countries increased from the 2nd quarter to the 3rd quarter this year. In total value, the export of services reached NOK 20 billion and the service import ended at NOK 15 billion in the 3rd quarter. Import and export with Asia also saw an increase in the 3rd quarter of 2013. The value of export to Asia amounted to NOK 8 billion, and import to NOK 7 billion in the 3rd quarter of 2013. For both import and export, this is an increase of 1.0 per cent from the 2nd to the 3rd quarter of 2013.