Second highest import
Imports in September amounted to NOK 50.1 billion; the second highest ever measured. Exports also increased and amounted to NOK 71.7 billion; 7.7 per cent more than the same month last year. Higher exports of crude oil and the most important commodity groups contributed to this.
|NOK Million||Change in per cent||NOK Million - so far this year||Change in per cent - so far this year|
|September 2014||August 2014 - September 2014||September 2013 - September 2014||September 2014||September 2013 - September 2014|
|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||50 112||12.2||5.0||408 670||5.5|
|Ships and oil platforms2||692||-54.8||-39.0||4 734||-33.2|
|Exports||71 736||7.8||7.7||661 844||-0.1|
|Crude oil||23 992||4.3||18.2||210 643||2.0|
|Natural gas||13 946||6.7||-13.6||156 722||-10.7|
|Natural gas condensates||755||107.5||31.8||5 917||-4.4|
|Ships and oil platforms2||1||-95.0||-87.5||5 436||21.1|
|Mainland exports||33 042||9.9||11.6||283 127||4.9|
|The trade balance||21 623||-1.0||14.4||253 174||-8.0|
|The mainland trade balance||-16 379||-25.2||3.5||-120 810||-9.3|
Imports in September this year rose 12.2 per cent to NOK 50.1 billion, which is second only to March 2011 when goods worth NOK 57.2 billion were imported. The growth in imports is largely due to increased imports of various machinery and inputs for industry or large projects. The trade surplus increased to NOK 21.6 billion in September, up 14.4 per cent from the corresponding month last year.
Higher exports of oil
Exports of crude oil increased by 18.2 per cent to NOK 24 billion in September. This growth comes despite the sharp decline in oil prices in recent months. The price per barrel of crude oil in September came to NOK 618 per barrel, down by NOK 53 compared with the corresponding month last year. A total of 39 million barrels were exported in September, which is over 8.5 million barrels more than in September last year. Crude oil exports in September 2013 were low due to maintenance.
Natural gas to a value of NOK 13.9 billion was exported in September 2014. This is a decrease of 13.6 per cent compared with the same month last year. A total of 7.4 billion cubic metres of natural gas in a gaseous state were exported.
High fish exports
Mainland exports amounted to NOK 33 billion in September; an increase of 11.6 per cent compared with the same month last year.
Fish exports amounted to NOK 5.9 billion - an increase of 16.3 per cent compared with the same month last year. Mackerel exports increased the most. Exports of frozen whole mackerel rose from NOK 304 million to NOK 720 million in September 2014; an increase of 137.2 per cent compared to last year.
Exports of fresh whole salmon amounted to NOK 2.5 billion in September 2014, which is 3.1 per cent more than the same month last year. The increase is due to higher price of salmon in September this year compared to last year. Following the export restrictions to Russia, exports to Belarus have increased sharply. From August to September, exports of fresh whole salmon rose from NOK 27 million to NOK 75 million here.
The main commodity group of manufactured goods rose by just under NOK 800 million to NOK 6.3 billion. The sub-group metals other than iron and steel increased the most, with more than NOK 900 million. This is explained by higher aluminium prices.
Exports of refined petroleum products amounted to NOK 3.4 billion; 2.6 per cent less than the same month last year.
The second largest import ever
Imports in September this year amounted to NOK 50.1 billion, and is only surpassed by March 2011 More import of various machinery and inputs to Norwegian industry and large projects caused a lot of the growth.
Imports in most of the main commodity groups increased. Machinery and transport equipment imports increased the most, from NOK 17.7 billion to NOK 18.8 billion in September 2014. This corresponds to an increase of NOK 1.1 billion. The sub-group machines for special industries increased the most, by nearly NOK 340 million, and totalled NOK 2.2 billion. Also the sub-group electrical machinery and appliances rose substantially, by NOK 265 million to NOK 2.7 billion.
Imports of manufactured goods increased by NOK 825 million and amounted to NOK 7.8 billion. The sub-group iron and steel increased the most, up 44.1 per cent to NOK 1.7 billion.
The main product group mineral fuels and lubricants decreased the most, down NOK 1.5 billion compared with the corresponding month last year. Imports here amounted to NOK 2.5 billion. Lower imports of petroleum products accounted for most of the fall.