Increased exports and imports of machinery
Imports of goods amounted to NOK 53.4 billion in June, while exports came to NOK 70.3 billion. This resulted in a trade surplus of NOK 16.9 billion. Imports of machinery were considerable. For mainland exports both machinery and metals increased.
|NOK Million||Change in per cent||NOK Million - so far this year||Change in per cent - so far this year|
|June 2015||May 2015 - June 2015||June 2014 - June 2015||June 2015||June 2014 - June 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.|
|Imports||53 436||16.1||15.0||310 790||16.0|
|Ships and oil platforms2||543||-21.0||-7.3||22 095||863.6|
|Exports||70 348||4.6||6.4||424 371||-8.6|
|Crude oil||18 972||5.7||-9.7||101 122||-31.1|
|Natural gas||15 464||-3.9||15.1||115 087||-2.0|
|Natural gas condensates||433||-62.8||-18.5||3 057||-26.4|
|Ships and oil platforms2||149||396.7||-84.2||2 775||-47.2|
|Mainland exports||35 331||10.3||17.1||202 330||6.2|
|The trade balance||16 913||-20.3||-13.8||113 581||-42.1|
|The mainland trade balance||-17 562||-32.0||-11.8||-86 365||-14.9|
Imports in June rose by 15.0 per cent or NOK 7.0 billion. The increase was mainly due to imports of oil platform constructions at a value of NOK 1.9 billion. As a result of the substantial growth in imports, the trade surplus came to NOK 16.9 billion in June, down 13.8 percent from June 2014.
Less crude oil – more exports of natural gas
In June, the export value of crude oil amounted to NOK 19.0 billion, a decrease of 9.7 per cent compared with the same month last year. The decline was due to lower average price per barrel of NOK 484, NOK 200 less than June 2014. In contrast, the export volume rose from 30.9 million barrels in June 2014 to 39.2 million barrels of crude oil in June this year.
Natural gas exported in June this year had a value of NOK 15.5 billion. The export volume of natural gas in gaseous state totaled 7.6 billion standard cubic metres. Compared with June 2014, larger export volumes as well as a small increase in price contributed to the increase in value.
Greater demand for machinery and metal products
Mainland exports rose by 17.1 per cent, and amounted to NOK 35.3 billion in June. The majority of the main commodity groups increased compared to June 2014.
The main commodity group, machinery and transport equipment came to NOK 8.4 billion in June, up 20.3 per cent from June 2014. The growth was attributed to an increase in general industrial machinery and equipment together with electrical machinery and apparatus of NOK 1.3 billion. Among the other groups, non-ferrous metals as well as manufactures of metals together, rose by NOK 1.3 billion and amounted to NOK 5.3 billion in June. Chemicals, seen as a whole, increased by 18.8 per cent compared to the same month the previous year.
Exports of fish increased by one fifth
In June, exports of fish went up 19.1 per cent and amounted to NOK 5.6 billion. Exports of fresh, whole salmon contributed to nearly half of this increase. However, the increase in value was mostly due to higher prices, as the export volume of salmon only rose slightly. Clip fish of Atlantic cod ended at NOK 237 million in June. Both price and volume showed considerable rise compared to June last year.
Large machine imports
Goods with a total value of NOK 53.4 billion were imported in June, up 15.0 per cent compared to the previous year.
The main commodity group, machinery and transport equipment increased by 6.5 per cent and amounted to NOK 20.0 billion in June. The import value of the subgroup road vehicles increased, by almost 20.0 per cent. Measured in quantity, 18 600 cars were imported last month.
Contributed by considerable imports of oil platform constructions, the subgroup manufactures of metals rose by NOK 2.1 billion and amounted to NOK 4.3 billion. Medicinal and pharmaceutical products also increased; up 20.7 per cent in June 2015. The import value of metalliferrous ores and metal scrap rose by NOK 300 million – totaling NOK 2.1 billion.
Increased imports furniture and clothes
High imports of manufactured goods are also reflected in the June figures with high imports of commodities such as furniture and clothes as well as professional and scientific instruments. Norwegian imports of furniture totaled NOK 1.3 billion, up 16.9 per cent compared to the previous year. Imports of clothes came to NOK 1.2 billion in June, an increase of 16.5 per cent. Professional and scientific instruments as well as other manufactured goods also showed a considerable growth. These groups increased by 35.6 and 27.1 per cent respectively.