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Higher surplus in trade in services
In 2014, trade in services continued its upward trend. Exports rose 12 per cent from 2013. Imports increased by 8 per cent. As a result, the trade balance in services improved.
4th quarter 2014 | Change in per cent | ||
---|---|---|---|
3rd quarter 2014 - 4th quarter 2014 | 4th quarter 2013 - 4th quarter 2014 | ||
Exports | 63 490 | 13.4 | 16.2 |
Imports | 59 461 | 8.0 | 6.9 |
![Figure 1. External trade in services by continent Figure 1. External trade in services by continent](/en/utenriksokonomi/statistikker/uhtjenester/kvartal/_image/221749.png?_encoded=2f66666666666678302f35382f&_ts=14c2bccfe48)
![Figure 2. External trade in services, imports and exports Figure 2. External trade in services, imports and exports](/en/utenriksokonomi/statistikker/uhtjenester/kvartal/_image/221748.png?_encoded=2f66666666666678302f35382f&_ts=14c2bccfa60)
In 2014, total service exports amounted to NOK 220.5 billion. Total service imports were worth NOK 211.7 billion. The surplus in trade in services increased to NOK 8.8 billion.
From the third quarter to the fourth quarter of 2014, service imports rose 8 per cent to NOK 59.5 billion. Service exports increased by NOK 7.5 billion from NOK 56 billion in the third quarter of 2014 to NOK 63.5 billion in the fourth quarter of 2014.
Growth in computer services imports
The largest segment in service imports in 2014 was services related to oil and gas exploration, excluding surveying, with an import value of NOK 47.5 billion. From the third quarter to the fourth quarter of 2014, imports of these services rose 13 per cent to NOK 13.9 billion. The highest increase in imports between 2013 and 2014 was posted for computer services. In 2014, Norwegian imports of these services rose to NOK 14.6 billion, from NOK 10.6 billion in 2013.
Services related to sea and coastal water transport at NOK 82.6 billion remained the largest export category in 2014. It was followed by exports of services related to business services amounting to NOK 42.9 billion. In the fourth quarter of 2014, exports of these services reached NOK 13.6 billion, up NOK 3.6 billion from the third quarter of 2014.
Largest exports from transportation and storage sector
The transportation and storage industry continued to account for the largest part of Norwegian service exports. In the fourth quarter of 2014, this industry exported a total of NOK 28.8 billion worth of services and made up 45 per cent of total exports. Professional, scientific and technical activities had the biggest increase from the third quarter to the fourth quarter of 2014, from NOK 7.5 billion to NOK 10.7 billion.
The largest importing sector was mining and quarrying. Its imports were worth NOK 16.4 billion. The second largest importer was transportation and storage, with an import value of NOK 15.6 billion. When combined, these two sectors accounted for 54 per cent of total service imports in the fourth quarter of 2014.
EU countries other than the Nordic countries important trade partner
In 2014, service exports to EU countries other than the Nordic countries made up 32 per cent of total exports. The share of these countries in total imports was 45 per cent. The highest increase in exports between the third quarter and the fourth quarter of 2014 was registered with Central and North America, from NOK 8.1 billion to NOK 12.2 billion.
Contact
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Noel Hoven
E-mail: noel.hoven@ssb.no
tel.: (+47) 40 78 13 37
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Jonathan Ho
E-mail: jonathan.ho@ssb.no
tel.: (+47) 40 90 25 82
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Anne Lyslid Larsen
E-mail: anne.larsen@ssb.no
tel.: (+47) 40 90 23 31
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Ayfer Erbaydar Storrud
E-mail: ayfer.storrud@ssb.no
tel.: (+47) 97 78 71 85
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Thomas Moen
E-mail: thomas.moen@ssb.no
tel.: (+47) 93 49 40 32