Turnover in oil and gas, manufacturing, mining and electricity supply, January 2016

The index value for turnover in manufacturing was 141.9 (2005=100) in the period November 2015 to January 2016, compared to 147.5 in the previous three-month period, according to seasonally-adjusted figures.

Three-month change: notable fall for machinery and equipment

Seasonally-adjusted figures showed that machinery and equipment had a strong decrease of 12.9 per cent from November 2015 to January 2016, compared to the previous three-month period. The following industries also contributed most to the decline:

• Basic metals
• Fabricated metals
• Repair, installation of machinery
• Rubber, plastic and mineral products
• Computer and electrical equipment
• Grouping refined petroleum products, basic chemicals, and chemical and pharmaceutical products

On the other hand, food products, building of ships, boats and oil platforms as well as paper and paper products, increased in this period. The growth in food products was particularly strong within fish and fish products and meat and meat products. Several large deliveries of completed ships led to the higher level of turnover within the building of ships, boats and oil platforms industry.

Monthly change: decline from 2015 continues in 2016

From 2014 to 2015, the turnover in Norwegian manufacturing showed a negative annual change of 1.4 per cent. The falling trend continued in 2016 and total manufacturing turnover went down 1.6 per cent from December 2015 to January 2016, according to seasonally-adjusted figures.

Machinery and equipment (8.4 per cent), and the grouping refined petroleum products, and chemical and pharmaceutical products (6.2 per cent) contributed most to pulling down the manufacturing turnover. Lower investment activities in oil and gas sector led to the decline in machinery and equipment. The decrease within the grouping refined petroleum products, and chemical and pharmaceutical was mainly due to a decline in prices of refined petroleum products.

There was also a marked reduction in fabricated metals, and the transport equipment industry. Changing the classification code (NACE) for some units that have a large share in transport equipment led to a 16 per cent fall in this industry.

A rise in food products, repair, installation of machinery in addition to paper and paper products helped to partially offset the downward trend in the total turnover from the last month in 2015 to the first month in 2016.

Twelve-month change: notable fall in machinery and equipment compared to January 2015

Calendar-adjusted figures showed a decrease of 3.9 per cent in total manufacturing turnover in January 2016 compared to January 2015. While the domestic market enjoyed a 1.3 per cent growth, the export market faced a strong decline of 9.9 per cent.

The biggest contributor pulling down total manufacturing turnover was machinery and equipment, which decreased by 31.7 per cent. As mentioned above, lower investment activities in oil and gas sector account for much of the decline.

Food products had the largest share that curbed the fall, and paper and paper products with a 21.6 per cent share showed the biggest percentual increase during the last twelve months.

Monthly change: growth in Norway, unchanged in the euro area in December 2015

Norwegian manufacturing turnover went up by 3.1 per cent from November to December 2015, according to seasonally-adjusted figures, while manufacturing turnover in the euro area remained almost unchanged. Among the Nordic countries, Sweden showed a decrease of 2.4 per cent, while Denmark enjoyed a 2 per cent increase, according to Eurostat.