Low trade surplus continues
External economy
muh, External trade in goods, import, export, balance of trade (export minus import), mainland exports, imports excluding ships and oil platforms, trade ( between countries, continents and trade regions), international product groups (for example hs, sitc and bec), product groups (for example food, crude oil and metals)External trade , External economy

External trade in goodsOctober 2015, preliminary figures

At 10 am on 16 November 2015 external trade in goods statistic is updated with revised figures on crude oil exports for the period 2013, 2014 and 2015 January-September.



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Low trade surplus continues

In October 2015, the trade surplus amounted to NOK 20.6 billion, which is an increase from September, but a substantial decrease of 38.5 per cent compared to October last year. Exports showed a decrease of 13.6 per cent, and ended at NOK 74 billion, while imports increased by 2.4 per cent, to NOK 53.4 billion.

External trade in goods1
NOK MillionChange in per centNOK Million - so far this yearChange in per cent - so far this year
October 2015September 2015 - October 2015October 2014 - October 2015October 2015October 2014 - October 2015
1The figures are marked with the symbol *. This is Statistics Norways standard symbol for indicating preliminary figures.
2Due to the data collection method, the preliminary monthly figures published for ships and oil platforms are often incomplete. In retrospect, therefore, the trade in these goods could in some cases lead to major corrections in the figures. Please see tables 2-4 for the impact these figures have on the external trade.
Imports53 4263.82.4508 2698.8
Ships and oil platforms2230-36.1-27.925 107148.5
Exports74 0019.5-13.6708 516-6.7
Crude oil18 08723.1-27.0171 794-30.1
Natural gas19 43610.7-14.0188 7215.3
Natural gas condensates247-62.9-66.24 573-34.9
Ships and oil platforms2175.37.87 22519.6
Mainland exports35 8482.1-3.1336 2034.7
The trade balance20 57527.4-38.5200 247-31.4
The mainland trade balance-17 347-8.5-16.8-146 959-8.1

The reduction of the trade surplus in October 2015 of NOK 12.9 billion was due to lower export values of goods from the continental shelf. For other merchandise, the import values increased by approximately the same amount as the mainland exports declined.

Lower export values of crude oil and natural gas

In October, the crude oil exports amounted to NOK 18.1 billion; a decrease of 27 per cent compared to October last year. The decrease was mainly caused by lower prices, although there was an increase in export volumes. The crude oil price had a decrease of NOK 160 per barrel from last year, ending at NOK 405 per barrel in October 2015. Exports of crude oil ended at 44.6 million barrels in October; an increase of 2 per cent compared to the corresponding month last year.

Exports of natural gas amounted to NOK 19.4 billion in October. This is a decrease of 14 per cent or NOK 3.2 billion from the same month last year. A total of 10.1 billion standard cubic metres of natural gas in a gaseous state were exported in October; an increase of 3 per cent from last year.

Slightly lower mainland exports

Mainland exports went down by NOK 1.1 billion and ended at NOK 35.8 billion in October. Among the most important main commodity groups, food and live animals as well as chemical products showed an increase, which was offset by a decrease in export values for machinery and transport equipment, manufactured goods and mineral fuels from October last year.

Export values of the main group chemical products rose by 14.7 per cent to NOK 4.8 billion. There were minor changes in all but two of the product groups. The sub-Group organic chemicals grew the most, by 17 per cent, ending at NOK 1.6 billion.

Export of fish continues to remain high and amounted to NOK 7.9 billion in October; an increase of 6.6 per cent compared with last year. The export of fresh whole salmon was the main contributing factor. The value of this commodity increased by NOK 700 million to NOK 3.6 billion. Both the price and the volume contributed to the growth in value.

For the main commodity group machinery, there was a decrease of more than 25 per cent for machinery for special industries and electrical machinery and apparatus. For the main commodity group manufactured goods, there were a decrease in exports of iron and steel and non-ferrous metals. Their total export value came to NOK 4.3 billion, down 14.9 per cent compared to October last year. For the commodity group refined oil products, the export value was NOK 2.8 billion; a decrease of 14 per cent.

Increased imports of manufactured goods and machinery

In October, import values ended at NOK 53.4 billion. This is an increase of 2.4 per cent from October last year.

Imports in the main commodity group miscellaneous manufactured articles rose from NOK 8.3 billion to NOK 9.3 billion in October 2015. There was an increase in imports of professional and scientific instruments in addition to miscellaneous manufactured articles, n.e.s. The main commodity group machinery and transport equipment had an export value of NOK 20.2 billion; an increase of 2.9 per cent, in October. The sub-group road vehicles accounted for the highest growth. There was an increase in import prices for cars, while the amount of cars imported in October 2015 fell to 19 104.

In October 2015, there were higher imports of chemical products in total, with a higher increase in the sub-groups chemical and related products as well as medical and pharmaceutical products.

Revisions on external trade statistics for the period 2013, 2014 and 2015Open and readClose

At 10 am on 16 November 2015 external trade in goods statistic is updated with revised figures on crude oil exports for the period 2013, 2014 and 201501-09.

Changes are available in the table.