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16178
Lower prices of Norwegian imports
statistikk
2009-10-15T10:00:00.000Z
External economy;External economy
en
uhvp, External trade in goods, indices of volume and price, import, export, price trends, volume development, product groups (for example food, raw materials, fuel), areas of application (for example energy goods, building materials, consumables)Balance of payments, External trade , External economy
false

External trade in goods, indices of volume and price, Q3 2009

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Lower prices of Norwegian imports

Prices of Norwegian merchandise imports fell from the second to the third quarter. For traditional goods, the decrease was 0.4 per cent. Since the third quarter of 2008 import prices have fallen by 1.6 per cent overall.

Ships and oil platforms are excluded in all figures for exports and imports of goods.

Price indices. 3rd quarter 2006-3rd quarter 2009. 2000=100

Volume indices adjusted for seasonality 3rd quarter 2006-3rd quarter 2009. 2000=100

A fall in prices of manufactured goods and machinery was the main cause of the 0.4 per cent reduction from the second to the third quarter in the Norwegian import price index. Compared with the third quarter of 2008 import prices have fallen by 1.6 per cent overall. Prices of metals, crude materials and fuels have decreased since last year, while prices of machinery and transport equipment are somewhat higher than they were one year ago.

The total volume of Norwegian imports was almost equal in the second and the third quarter, but adjusted for normal seasonal variations there was an increase of 3.2 per cent. Imports of crude materials, except fuels, grew by 11.5 per cent, not adjusted for seasonality. Compared with the third quarter of 2008 the import of computer equipment, road vehicles and industrial machinery has fallen, contributing to a 22.8 per cent drop in the imports of machinery and transport equipment.

Higher export prices

Prices of Norwegian exports increased by 1.3 per cent from the second to the third quarter. The oil price increased, while the price of natural gas fell. For traditional goods, a category which excludes oil and natural gas, prices were 1.7 per cent higher than in the previous quarter. Compared with the third quarter of 2008, however, Norwegian export prices are significantly lower. This is due to reduced prices of oil, natural gas, crude materials and metals. Prices of fish, machinery and transport equipment, on the other hand, have increased since one year ago.

The volume of Norwegian merchandise exports grew by 4.4 per cent from the second to the third quarter. The export of most groups of goods increased. Still, exports are lower than one year ago. The decrease in exports of traditional goods since the third quarter of 2008 is 6.1 per cent. This rate is not as low as the two first quarters this year, however, when the yearly decreases in exports were 9.7 and 15.4 per cent. Natural gas and fish are two of a few goods which have seen export volumes increase over the past year.

External trade in goods, excl. ships and oil platforms. Indices of price and volume. 3rd quarter 2009
Commodity group1 Commodity SITC Volume Price
3rd quarter 2009 3rd quarter
2008 and 2009.
Change in per cent 		3rd quarter 2009 3rd quarter
2008 and 2009.
Change in per cent
Imports          
Total 0-9  136.2 -14.4  107.3 -1.6
Of which          
Food, beverages and tobacco 0-1  145.9 4.1  125.6 6.8
Crude materials except fuels 2, 4  130.2 -8.3  100.1 -23.8
Fuels 3  114.1 14.3  168.5 -30.8
Manufactured goods except food, beverages and tobacco 5-9  136.0 -18.1  104.8 2.8
           
Exports          
Total 0-9 98.8 -0.1  139.5 -22.4
Of which          
Food, beverages and tobacco 0-1  120.7 16.2  108.1 5.7
Crude materials except fuels 2, 4  103.6 -1.6  103.6 -12.6
Fuels 3 86.1 3.7  161.8 -30.4
Manufactured goods except food, beverages and tobacco 5-9  131.2 -10.6  105.6 -4.1
Exports excl. crude oil and natural gas    127.9 -6.1  111.7 -10.5
1  Groups according to the Standard International Trade Classification (SITC-Rev. 4).