Higher exports, lower imports

Norway imported NOK 20.7 billion worth of goods in April. This was NOK 1.5 billion less than the same month last year, a 6.8 per cent decline. Among other things, 30 per cent fewer cars were imported. Exports of traditional goods amounted to NOK 14.9 billion, or NOK 800 million more than in April 1998. Including NOK 8.6 billion worth of crude oil exports and NOK 2.4 billion worth of gas exports, the trade surplus amounted to NOK 5.2 billion last month.

During the first fourth months of this year Norway imported NOK 84 billion worth of goods. This is down NOK 4.2 billion from last year. Traditional exports of goods amounted to NOK 59.9 billion, or NOK 1.8 billion less than in January to April 1998. The trade deficit in traditional goods thus came to NOK 24 billion or NOK 2.3 billion less than the first fourth months of last year.

If we include exports of crude oil and natural gas, the trade surplus in commodities excluding ships and oil platforms was NOK 14.9 billion in the first four months of this year. This is NOK 5.3 billion less than last year. Smaller revenues from exports of crude oil and natural gas from the continental shelf are behind the decline. Revenues from these exports through April were down NOK 7.6 billion from the same time last year due to reduced quantity and lower prices for crude oil in the preceding months. The price for a barrel of crude was NOK 115 in April, while it was as low as NOK 77 in February.

Cars imports down

Norway imported NOK 1.9 billion worth of vehicles and NOK 700 million worth of iron and steel in April this year. This was respectively NOK 700 and 500 million less than in April 1998. The number of imported cars came to 9,968 in April this year against 13,818 last year. The figures through April this year show that the number of imported cars has plummeted 30 per cent. Norway also imported less ore and power engines in April. The import value of both of these groups was down NOK 250 million. Groups with growing import values include industrial machines, with NOK 425 million, and mineral oil products, up by NOK 170 million.

New Statistics
External trade with commodities, April 1999.
The statistics are published monthly in the Weekly Bulletin of Statistics and Monthly Bulletin of External Trade and are available on the Internet at www.ssb.no. Detailed figures are also available from Customer Services, External Trade, tel. +47 21 09 47 52/53. For more information contact: Oyvind.Hagen@ssb.no, tel. +47 21 09 47 26.

Weekly Bulletin issue no. 20, 1999