External trade in services, Q4 2013

For the year 2013, Norway’s export of services amounted to NOK 198 billion, which was an increase of NOK 10 billion compared to the previous year. The import of services, on the other hand, came to NOK 197 billion; an increase from NOK 187 billion compared to the previous year. The figures presented in this article only relate to non-financial enterprises and include the shipping industry.

Export of sea and coastal water transport dominates

Sea and coastal water transport services continue to be Norway’s largest export group of services. These services amounted to NOK 69 billion in 2013, which was an increase from NOK 66 billion in the previous year. Services related to business services accounted for the second largest proportion of Norwegian exports and amounted to NOK 42 billion in 2013.

Looking at Norway’s import of services, oil and gas services continue to dominate. These services amounted to NOK 43 billion for the year 2013. Oil and gas services amounted to NOK 12 billion and had an increase in imports of 10.8 per cent from the 3rd to the 4th quarter of 2013.

Imports in business services amounted to NOK 10 billion and had an increase of 18.1 per cent from the 3rd to the 4th quarter of 2013.

Transportation and storage industry largest export services

Enterprises within the transportation and storage industry exported services for NOK 24 billion in the 4th quarter of 2013, compared to NOK 18 billion in the same quarter the previous year; up 28.1 per cent. Professional, scientific, technical activities had a strong rise, from NOK 7 billion in the 3rd quarter of 2013 to NOK 10 billion in the 4th quarter of 2013.

With regard to imports, the major industry activity continued to be in the mining and quarrying sector. Imports for these industries amounted to NOK 15 billion; an increase of 18.3 per cent compared to the same quarter in 2012. As with exports, imports within the transportation and storage industry remained high throughout 2013.

Decrease in trade with Asia

The Asian market saw a decrease in Norwegian imports of services, from 12.9 per cent in the 3rd quarter to 8.2 per cent in the 4th quarter of 2013. The exports to Asia increased from 15.2 per cent in the 3rd quarter to 18.7 per cent in the 4th quarter of 2013. Despite this, EU countries, excluding the Nordic countries, have continued to be the dominant area for Norwegian exports and imports of services throughout 2013.