External trade in goods, indices of volume and price, Q4 2005

Export prices of goods excluding ships and oil platforms are still increasing. As in the previous quarter higher prices on fuels contributed to the strong increase. The increase from the same quarter of 2004 was somewhat weaker, down 32.9 per cent. Higher prices are due to the international development in oil prices as well with a level like the period before the hurricanes hit the USA and the Gulf of Mexico. Prices were particularly high in the month of December. Export prices of food such as dairy and eggs as well as fish and preparations thereof increased as well, up12 and 16 per cent respectively.

Export prices of goods excluding ships and oil platforms did however decrease by 1.0 per cent compared to the third quarter of 2005. The increase in all of the other groups did not compensate for the decrease in fuel prices by 2.1 per cent.

The Norwegian exchange rate showed an upward trend in 2005 compared to 2004. However, export prices of goods excluding crude oil, condensates, natural gas, ships and oil platforms increased from the fourth quarter in 2004 to the fourth quarter of 2005, up 6.6 per cent. The strong exchange rate might have contributed to the lower export prices of manufactured goods such as iron and steel as well as machinery. However, the upward trend in export prices of the remaining groups did compensate for the decrease.

Higher exports of fish

The export volume of goods excluding crude oil, condensates, natural gas, ships and oil platforms increased by 5.0 per cent from the fourth quarter of 2004 to the fourth quarter in 2005. Higher exports of food such as fish and preparations thereof , up 3 per cent, as well as wood, lumber and cork, up 12 per cent, and pulp and waste paper, up 12 per cent, did compensate for the lower exports of petroleum and petroleum products. Adjusted for seasonality figures show no change in the fourth quarter of 2005 compared to the previous quarter of 2005.

The export volume of goods excluding crude oil, condensates, natural gas, ships and oil platforms increased by 9.8 per cent in the fourth quarter of 2005 compared to the third quarter of 2005. Prices of food and crude materials are higher, up 41.5 and 12.2 per cent respectively.

Minor decrease in import prices

From the fourth quarter in 2004 to the fourth quarter in 2005 import prices of goods excluding ships and oil platforms increased by 0.6 per cent. Prices are higher on fuels such as petroleum and petroleum products as well as electric current.

Import prices of goods excluding ships and oil platforms increased as well in the fourth quarter of 2005 compared to the third quarter in 2005, up 0.6 per cent. Higher prices of food, beverages and tobacco did compensate for the downward trend in crude materials and fuels.

Higher imports of metals

The import volume of goods excluding ships and oil platforms increased by 10.8 percent in the fourth quarter of 2005 compared with the same quarter in 2004. Imports of iron and steel as well as metal goods were higher, up 23 per cent and 20 per cent respectively. Adjusted for seasonality figures show higher import volume as well from the third quarter in 2005, up 0.3 per cent. Compared with the third quarter of 2005 this is a somewhat weaker decrease.