Statistical analyses 154
Norwegian manufacturing 2016
A tough year for Norwegian manufacturing
Production in Norwegian manufacturing fell by 5.0 per cent from 2015 to 2016. This was a larger percentual decrease compared with the decline from 2014 to 2015, where the annual change was down 3.4 per cent. A lower production activity among the petroleumrelated supplier industries was the main reason for the production fall. The machinery and equipment industry fell 20 per cent and was the biggest contributor with a negative change and the main reason for the overall downturn in production in 2016.
Despite a reduction in 7 out of 15 industries, the overall production decline was partially offset by production growth in several export-oriented manufacturing industries. Growth was particularly high in the grouping refined petroleum products, and chemical and pharmaceutical products, where production increased by 8.8 per cent from 2015 to 2016.
Contrary to Norway the production development in Denmark and Sweden showed a growth from 2015 to 2016 with 4.6 and 1.8 per cent, respectively. Also in the euro zone countries there was a 1.5 per cent increase in the production from 2015 to 2016.
Other key indicators of developments in the manufacturing industry show different trends from 2015 to 2016. As for production the total turnover in manufacturing edged down 7.5 per cent. This was mainly due to a 9.9 per cent decline in the export market. Employment in the manufacturing sector also went down 4.4 per cent from 2015 to 2016. However, manufacturing industries invested NOK 23.2 billion (measured in current value), which is 17.4 per cent higher compared with 2015. The grouping refined petroleum products, and chemical and pharmaceutical products and the basic metal industry, both export-oriented industries, had the greatest increase in absolute figures from 2015 to 2016.