Investments in oil and gas, manufacturing, mining and electricity supply

Updated: 18 November 2021

Next update: 17 February 2022

Change in total investments
Change in total investments
2021 / 2020
-3.0
%

Selected tables and figures from this statistics

Estimated investments next year, by division and and main industrial groupings. NOK million
Estimated investments next year, by division and and main industrial groupings. NOK million1
Estimated investmentsChange in NOK million and per cent
202120222022 /20212022 /2022
Collected in Q4 the previous yearCollected in Q3 the previous yearCollected in Q4 the previous yearDif.2 Per cent2 Dif.3 Per cent3
Extraction, pipeline, mining, manuf. and elec221 884189 604209 303-12 581-619 69910
Extraction and pipeline transport166 270142 011154 381-11 889-712 3709
Extraction of oil and natural gas165 457141 432153 833-11 624-712 4019
Pipeline transport813579548-265-33-31-5
Manufacturing, mining and quarrying22 84124 49930 1667 325325 66723
Mining and quarrying2 3173 2132 301-16-1-912-28
Manufacturing20 52421 28627 8657 341366 57931
Food, beverages and tobacco4 8803 9965 17529561 17930
Food products4 7533 7444 92417141 18032
Textiles, wearing apparel, leather183253148-35-19-105-42
Wood and wood products9358671 3424074447555
Paper and paper products366228263-103-283515
Printing, reproduction11461109-5-44879
Refined petro., chemicals, pharmac4 8665 9676 3991 533324327
Basic chemicals2 1792 7952 921742341265
Rubber, plastic and mineral prod.1 4302 3812 23980957-142-6
Basic metals3 7943 6477 0293 235853 38293
Non-ferrous metals2 8683 2806 1143 2461132 83486
Fabricated metal products8858741 0061211413215
Computer and electrical equipment8491 4261 83398411640729
Machinery and equipment986690772-214-228212
Ships, boats and oil platforms319343802483151459134
Transport equipment n.e.c2282502663817166
Repair, installation of machinery41659197-219-53138234
Furniture and manufacturing n.e.c.276243285934217
Electricity, gas and steam32 77323 09424 756-8 017-241 6627
Production of electricity13 7745 1336 176-7 598-551 04320
Transmission and distr. of electricity17 38316 43616 477-906-5410
District heating and gas1 6161 5252 1024863057738
Main industrial groupings:
Intermediate goods13 11415 25619 0765 962453 82025
Capital goods2 4771 8752 639162776441
Consumer goods5 8744 8905 9083411 01821
Durable consumer goods315260309-6-24919
Non-durable consumer goods5 5594 6315 59940196821
Energy goods200 419167 583181 681-18 738-914 0988
1The levels of aggregation refers to the Standard of Industrial Classification (SIC2007). See NOS D383 for further details.
2Change from previous year in estimated investments, collected in Q4 in the previous year.
3Change in estimated investments for the next year, collected in Q3 in the previous year and Q4 in the previous year.
Explanation of symbols
Estimated investments current year, by division and and main industrial groupings. NOK million
Estimated investments current year, by division and and main industrial groupings. NOK million1
Estimated investmentsChange in NOK million and per cent
202020212021 /20202021 /2021
Collected in Q4 the same yearCollected in Q3 the same yearCollected in Q4 the same yearDif.2 Per cent2 Dif.3 Per cent3
Extraction, pipeline, mining, manuf. and elec250 604244 341242 986-7 618-3-1 355-1
Extraction and pipeline transport182 511181 541182 275-23607340
Extraction of oil and natural gas181 919180 846181 548-37107020
Pipeline transport59269672613423304
Manufacturing, mining and quarrying28 49329 10528 399-940-706-2
Mining and quarrying1 6332 2361 94831519-288-13
Manufacturing26 85926 86926 451-408-2-418-2
Food, beverages and tobacco8 8867 8607 842-1 044-12-180
Food products8 4637 2447 273-1 190-14290
Textiles, wearing apparel, leather137213215785721
Wood and wood products1 0721 2651 30323122383
Paper and paper products925706652-273-30-54-8
Printing, reproduction1639377-86-53-16-17
Refined petro., chemicals, pharmac5 4365 2115 181-255-5-30-1
Basic chemicals3 1072 8792 953-154-5743
Rubber, plastic and mineral prod.2 2312 1311 995-236-11-136-6
Basic metals3 5604 2534 358798221052
Non-ferrous metals2 9673 4003 535568191354
Fabricated metal products73697996122531-18-2
Computer and electrical equipment7078729792723810712
Machinery and equipment1 1271 4931 166393-327-22
Ships, boats and oil platforms3994804787920-20
Transport equipment n.e.c1963512616533-90-26
Repair, installation of machinery965485511-454-47265
Furniture and manufacturing n.e.c.31847647115348-5-1
Electricity, gas and steam39 60133 69532 312-7 289-18-1 383-4
Production of electricity19 31614 56614 384-4 932-26-182-1
Transmission and distr. of electricity18 71717 36816 441-2 276-12-927-5
District heating and gas1 5671 7611 487-80-5-274-16
Main industrial groupings:
Intermediate goods14 63115 66215 6551 0247-70
Capital goods3 2453 5653 130-115-4-435-12
Consumer goods9 2238 4188 090-1 133-12-328-4
Durable consumer goods30045644714749-9-2
Non-durable consumer goods8 9237 9627 643-1 280-14-319-4
Energy goods223 506216 696216 111-7 395-3-5850
1The levels of aggregation refers to the Standard of Industrial Classification (SIC2007). See NOS D383 for further details.
2Change from previous year in estimated investments, collected in Q4 same year.
3Change in estimated investments for the current year, collected in Q3 same year and Q4 same year.
Explanation of symbols
Quarterly final investments by cost category. Extraction of oil and natural gas and pipeline transport. NOK million
Quarterly final investments by cost category. Extraction of oil and natural gas and pipeline transport. NOK million
3rd quarter 20204th quarter 20201st quarter 20212nd quarter 20213rd quarter 2021
Extraction and pipeline transport43 32446 82440 93345 62044 646
Extraction of crude oil and natural gas43 09946 62240 73745 46044 450
Exploration and concept studies5 7685 3545 8938 3506 605
Exploration drilling3 3752 6643 0164 5053 271
General surveys877915756989888
Field evaluation/field development7717931 0591 4951 198
Administration and other costs743807840760790
Concept studies2174222600459
Field development18 45919 59116 15315 33214 038
Commodities, field development8 1446 6665 7475 5755 484
Services, field development6 1067 7655 7495 9255 787
Production drilling, field development4 2095 1594 6573 8322 767
Fields on stream16 62119 28915 79718 00621 369
Commodities, fields on stream1 0541 2531 1501 6492 760
Services, fields on stream3 4454 1482 4823 3104 335
Production drilling, fields on stream12 12113 88712 16513 04714 274
Onshore activities4465406851 016885
Shutdown and removal1 8041 8492 2082 7571 553
Pipeline transportation226201196160196
Explanation of symbols
Annual final investments by cost category. Extraction of oil and natural gas and pipeline transport. NOK million
Annual final investments by cost category. Extraction of oil and natural gas and pipeline transport. NOK million
20172018201920202021
Extraction and pipeline transport148 809151 831177 544179 3090
Total extraction of crude petroleum and natural gas146 645149 643176 829178 7760
Exploration and concept studies21 79925 45027 75721 4320
Field development52 78761 96377 66776 4970
Commodities29 09229 87335 65132 2600
Services15 53924 48930 09026 7650
Production drilling8 1567 60111 92617 4720
Fields on stream61 92155 94865 42072 0320
Commodities3 5612 8584 1244 1660
Services14 07611 05514 79613 4780
Production drilling44 28442 03546 50054 3890
Onshore activities4 9201 9702 0541 9190
Shutdown and removal5 2174 3123 9306 8960
Transport via pipelines2 1642 1887155320
Explanation of symbols
Investments by cost category and the point in time for the estimation. Extraction of oil and natural gas and pipeline transport. NOK million
Investments by cost category and the point in time for the estimation. Extraction of oil and natural gas and pipeline transport. NOK million
20212022
Estimates made in February in the year before the investment yearEstimates made in May in the year before the investment yearEstimates made in August in the year before the investment yearEstimates made in November in the year before the investment yearEstimates made in February in the year of investmentsEstimates made in May in the year of investmentsEstimates made in August in the year of investmentsEstimates made in November in the year of investmentsAccrued investment costsEstimates made in February in the year before the investment yearEstimates made in May in the year before the investment yearEstimates made in August in the year before the investment yearEstimates made in November in the year before the investment yearEstimates made in February in the year of investments
Extraction and pipeline transport151 990145 575148 614166 270173 584181 854181 541182 2750138 516142 778142 011154 3810
Total extraction of crude petroleum and natural gas151 035144 646147 662165 457172 743181 022180 846181 5480137 968142 206141 432153 8330
Exploration and concept studies31 81722 66720 23924 36425 82826 90028 55228 891030 55029 55925 53424 7580
Field development45 03145 83850 02663 34162 13865 30163 24762 907038 51841 24741 81253 0800
Commodities17 64517 96518 56324 31024 91924 71123 65023 749011 67213 36413 16217 6630
Services8 9039 94812 24620 00718 34921 41221 32923 346010 81111 63210 40219 3570
Production drilling18 48417 92419 21719 02418 87019 17818 26715 812016 03416 25118 24816 0600
Fields on stream62 44365 10066 11666 83971 99176 16275 40777 179060 91262 78065 51766 6800
Commodities9 9335 1677 2704 5238 3069 0338 5457 97307 6547 7197 2597 2260
Services11 88416 27613 61613 30613 16415 12514 42915 125014 23615 81017 08016 5060
Production drilling40 62643 65745 23149 01050 52052 00452 43354 081039 02239 25141 17942 9490
Onshore activities1 9761 9582 2362 0443 4373 8434 9924 28902 6622 6972 8662 6680
Shutdown and removal9 7679 0839 0458 8699 3488 8178 6488 28205 3275 9235 7036 6460
Transport via pipelines95593095381384183169672605485725795480
Explanation of symbols
Final investments per quarter. Seasonally adjusted series. 2005=100
Final investments per quarter. Seasonally adjusted series. 2005=100
1st quarter 20212nd quarter 20213rd quarter 2021Change in per cent
1st quarter 2021 / 4th quarter 20202nd quarter 2021 / 1st quarter 20213rd quarter 2021 / 2nd quarter 2021
Extraction, pipeline, mining, manuf. and elec206.3200.7197.30.5-2.7-1.7
Extraction and pipeline transport199.2196.1195.30.6-1.6-0.4
Manufacturing, mining and quarrying150.2146.5138.43.0-2.5-5.5
Mining and quarrying183.3267.6344.5-36.046.028.7
Manufacturing149.4141.2130.36.9-5.5-7.7
Electricity, gas and steam390.0386.6345.6-6.6-0.9-10.6
Explanation of symbols
Investments. Extraction, pipeline, mining, manufacturing and electricity supply. NOK million and in per cent of final investments
Investments. Extraction, pipeline, mining, manufacturing and electricity supply. NOK million and in per cent of final investments
Estimates collected in the previous yearEstimates collected in the same yearFinal investments
MayAug.Nov.Feb.MayAug.Nov.
200063 28559 99466 54570 09172 69173 09674 07374 000
200149 57153 62961 26673 75277 63681 69981 29881 311
200251 17161 06774 68581 93285 05485 33884 03280 800
200372 37775 93984 24794 80894 18792 70890 92789 374
200478 67187 71387 19489 65097 891101 72899 26898 933
200576 84399 706114 010117 303121 383119 176117 022118 339
200690 224102 912121 637124 519134 864132 769133 551128 781
200796 497116 861135 293146 311153 731162 314155 112152 223
2008116 624156 622169 953178 519182 483180 798179 667177 730
2009153 043169 478185 041177 930188 749187 810183 790177 455
2010172 418183 756178 668176 049179 705181 242173 806166 173
2011185 411190 180193 175185 749188 663197 689196 777190 174
2012183 094214 269228 617233 334234 233232 823226 689219 391
2013237 873249 267252 011246 769260 876263 899262 848260 241
2014263 659271 299280 514283 956285 356280 884271 700268 439
2015231 091234 705242 309245 639245 729249 127248 864244 907
2016238 839235 208227 596222 246220 445218 941219 921214 503
2017202 320199 319196 832204 998211 776211 971205 216202 187
2018196 240194 321203 690225 953221 597224 048221 546217 401
2019210 677225 723240 978244 754258 862256 805256 770249 663
2020227 932230 564243 807255 113246 701251 757250 604246 223
2021193 604199 505221 884235 185243 375244 341242 986.
2022188 760189 604209 303.....
Per cent
2000868190959899100100
20016166759195100100100
2002637692101105106104100
2003818594106105104102100
20048089889199103100100
20056584969910310199100
200670809497105103104100
200763778996101107102100
2008668896100103102101100
20098696104100106106104100
2010104111108106108109105100
2011971001029899104103100
20128398104106107106103100
201391969795100101101100
201498101104106106105101100
2015949699100100102102100
2016111110106104103102103100
20171009997101105105101100
2018908994104102103102100
201984909798104103103100
2020939499104100102102100
2021........
2022........
Explanation of symbols
Investments. Extraction and pipeline transport. NOK million and in per cent of final investments
Investments. Extraction and pipeline transport. NOK million and in per cent of final investments
Estimates collected in the previous yearEstimates collected in the same yearFinal investments
Feb.MayAug.Nov.Feb.MayAug.Nov.
200046 15443 57248 47549 46550 96451 05352 62453 589
200133 63637 55641 38350 73853 27756 67257 44057 144
200229 33238 91550 39656 68558 19359 49058 41354 940
200352 63156 06661 73371 98570 22767 79066 75565 218
200459 27567 91764 31065 09172 37975 15573 12772 665
200547 41560 03180 81591 55990 54294 03490 72489 20190 543
200651 43366 35579 49494 02395 106103 547100 905101 19397 014
200765 92272 25992 497104 146108 592114 735121 129116 238113 852
200875 91985 565122 535130 287134 197136 766133 400131 983129 354
200997 170121 953136 785148 952141 599149 245148 061145 817140 519
201092 163140 275150 104143 697140 887145 448145 644139 384131 839
2011112 338150 734153 680155 881146 684150 104157 766159 388153 241
2012109 593147 526176 259190 197191 274191 544190 681186 843179 322
2013128 158201 501211 596214 740205 893219 668221 795221 289218 659
2014164 325224 203231 918240 175240 758241 387237 056228 241224 402
2015188 423192 967195 426199 054199 061200 262203 736204 297201 191
2016175 770192 477188 878179 204171 759169 896168 739170 280164 492
2017158 501154 905152 194146 643149 404154 381155 627150 842148 809
2018121 502143 970141 748144 333160 010156 454156 313155 457151 831
2019145 403155 509165 100175 251172 711183 738181 733182 929177 544
2020158 463172 380174 817182 639185 427180 296184 573182 511179 309
2021151 990145 575148 614166 270173 584181 854181 541182 275.
2022138 516142 778142 011154 381.....
Per cent
200086819092959598100
2001596672899399101100
2002537192103106108106100
2003818695110108104102100
200482938990100103101100
200552668910110010410099100
20065368829798107104104100
20075863819195101106102100
2008596695101104106103102100
2009698797106101106105104100
201070106114109107110110106100
201173981001029698103104100
2012618298106107107106104100
20135992979894100101101100
201473100103107107108106102100
20159496979999100101102100
2016107117115109104103103104100
201710710410299100104105101100
201880959395105103103102100
20198288939997103102103100
2020889697102103101103102100
2021.........
2022.........
Explanation of symbols
Investments. Manufacturing. NOK million and in per cent of final investments
Investments. Manufacturing. NOK million and in per cent of final investments
Estimates collected in the previous yearEstimates collected in the same yearFinal investments
MayAug.Nov.Feb.MayAug.Nov.
200011 84212 11513 62814 51515 80615 81815 58614 990
200111 76711 65814 41416 37217 31218 12517 65617 933
200215 82816 03216 88418 56019 98619 34819 17219 324
200314 20814 27315 95014 92815 57216 21116 07815 859
200412 85512 95015 39915 68515 80516 78816 75816 723
200510 63611 88314 35616 74017 50618 41618 10118 725
200613 74314 29017 43717 30219 79120 25020 76520 845
200714 74414 95719 13923 66824 50926 27726 17425 707
200820 01422 76327 36530 27930 85432 17232 37732 861
200919 88521 70123 73422 50324 48523 89922 63021 871
201017 20117 74018 40419 34118 53318 94318 25617 959
201115 34515 99917 92118 88318 82219 75818 95518 849
201215 27116 47617 49618 71719 59719 78719 16019 463
201314 57315 72815 94017 46419 00819 64819 16619 442
201415 00215 19617 08818 86120 07020 34520 12920 891
201512 78914 36517 86220 10519 78020 37120 04019 748
201618 19819 35521 05221 75522 52422 30021 92323 179
201716 60015 72017 99221 10322 03321 72621 15121 403
201817 41517 44120 83923 60823 74224 64523 68624 312
201920 03821 67526 60930 77931 88533 24132 05931 157
202019 93621 35724 47926 82625 88825 53926 85926 433
202115 69017 18320 52425 22125 77426 86926 451.
202218 59421 28627 865.....
Per cent
200079819197105106104100
2001666580919710198100
20028283879610310099100
200390901019498102101100
20047777929495100100100
200557637789939897100
2006666984839597100100
20075758749295102102100
200861698392949899100
20099199109103112109103100
20109699102108103105102100
2011818595100100105101100
20127885909610110298100
2013758182909810199100
201472738290969796100
2015657390102100103101100
201679849194979695100
20177873849910310299100
2018727286979810197100
201964708599102107103100
20207581931019897102100
2021........
2022........
Explanation of symbols
Investments. Electricity, gas and steam. NOK million and in per cent of final investments
Investments. Electricity, gas and steam. NOK million and in per cent of final investments
Estimates collected in the previous yearEstimates collected in the same yearFinal investments
MayAug.Nov.Feb.MayAug.Nov.
20005 0354 0934 0915 4885 3335 5635 1834 668
20013 8944 1584 9235 8176 3146 1365 3915 392
20025 7025 7627 1136 3036 4866 1336 1316 215
20035 1025 2276 1407 5047 9468 2277 6627 881
20046 0996 4777 1458 4419 0749 0658 7728 931
20055 9636 6877 8549 4769 1569 2598 9598 325
20069 8658 8649 91311 79011 15411 17910 80910 248
20079 2739 08511 65313 53613 89414 27912 02211 918
200810 82310 99711 91213 14113 79914 15314 27614 442
20099 8589 79811 98912 92712 95813 26813 01712 606
201014 04215 39316 31014 45914 65315 05814 46714 612
201118 96320 13618 39718 88118 73519 01517 29716 873
201219 61520 73619 97422 27221 69620 89819 35619 178
201321 11821 35120 29122 21820 68120 90220 67420 422
201423 17823 16522 16222 85722 49522 18121 91621 677
201524 69824 22724 58825 32224 78324 13723 59723 114
201627 53326 32826 63028 10027 34527 21327 12326 222
201730 40230 93831 61633 97734 78034 03432 68831 396
201834 35534 56737 73841 16840 03241 73741 11239 981
201934 40938 06938 41239 84941 68439 96139 93938 963
202033 41533 15535 19840 71938 87739 79239 60138 576
202128 74530 15132 77334 71233 84133 69532 312.
202224 32223 09424 756.....
Per cent
20001088888118114119111100
2001727791108117114100100
200292931141011049999100
20036566789510110497100
20046873809510210298100
2005728094114110111108100
2006968697115109109105100
2007787698114117120101100
200875768291969899100
2009787895103103105103100
2010961051129910010399100
2011112119109112111113103100
2012102108104116113109101100
201310310599109101102101100
2014107107102105104102101100
2015107105106110107104102100
2016105100102107104104103100
20179799101108111108104100
2018868694103100104103100
2019889899102107103103100
2020878691106101103103100
2021........
2022........
Explanation of symbols

About the statistics

The survey monitors the development in estimated and final investments within oil and gas activities, manufacturing, mining & quarrying and electricity supply.

Enterprise: The smallest combination of legal units that is an organisational unit producing goods or services and that benefits from a certain degree of autonomy in decision making.

Local unit (establishment): An enterprise or part of an enterprise that is located in one particular place and thus can be identified geographically.

Investment: All acquisitions of new fixed assets with a lifetime of more than one year. The acquisitions must be reported in the period they are made even if they are not been paid for or activated in the accounts. Value added tax (VAT) is reported in net value, i.e. refunded VAT should not be included, but VAT that is not refunded should. Fixed assets acquired from financial leasing are to be included.

Estimated investments: Acquisitions that the establishment plans to make throughout the present quarter and in the short and medium run.

Final investments: Acquisitions that the establishment has made throughout the previous quarter. The concept of final investments does not necessarily imply that the acquired material is put to use.

Machinery: All types of permanent mechanical and electrical equipment, i.e. machinery (including industrial furnaces), transformers, computers (hardware and software), instruments and parts (including installation) plus tools that have a lifetime of several years.

Cars and other means of transport: All types of vehicles, industrial railways, telpher lines, cranes and other means of transport.

Buildings and constructions (manufacturing, mining and quarrying): Manufacturing plants, workshops, storehouses, office buildings, social welfare installations (not houses), docks, silos, mines, quarries, roads, foundations, tunnels, dams, power lines, pipelines etc. except fall rights and the site value. Major repairs and reconstruction projects are also to be included.

Definitions of main concepts, especially related to oil and gas activity:

Exploration:Covers the activity from when the production licence is given until the exploration programme is finished or the licence is returned.

Development: Covers the activity from the time commercial development is approved by the Parliament to start of production, inclusive establishment of the on stream organisation and production drilling.

Production: Covers the activity after the start of production, inclusive production drilling.

Shutdown and removal: Covers the activity related to permanent shutdown fields and wells, inclusive activity performed prior to the shutdown of a field.

Ancillary activity/Onshore activity: Covers the activity in offices and bases onshore; administrative and technical services both to own activity as operator and interests in other production licenses.

The survey is classified according to the Standard Industrial Classification 2007 (SIC2007). This is a Norwegian adaptation of Eurostat’s industry classification, NACE Rev. 2. SIC2007. The use of common standards is essential in order to enable the comparison and analysis of statistical data at an international level and over time.

The survey is also classified according to EUROSTAT's end-use categories (Main Industrial Groupings). The end-use categories are based on the 3-digit level industrial groupings in SIC2007. Six end-use categories are included in the survey:

MIG code

Description

E1

Intermediate goods

E2

Capital goods

E3

Consumer durables

E4

Consumer non-durables

E5

Consumer goods (E3+E4)

E6

Energy goods

The following table summarises the most important industries included in the different end-use categories:

MIG

Main industries included

Intermediate goods

Wood and wood products, Paper and paper products, Basic chemicals, Rubber and plastics products, Non-metallic mineral products, Basic metals

Capital goods

Machinery and equipment, Building of ships, boats and oil platforms, Repair and installation of machinery

Consumer durables

Manufacture of furniture

Consumer non-durables

Food products, Printing and reproduction, Basic pharmaceuticals

Consumer goods (E3+E4)

Manufacture of furniture, Food products, Printing and reproduction, Basic pharmaceuticals

Energy goods

Mining of coal, Extraction of oil and gas, pipeline transport, Refined petroleum products, Electricity, gas and steam supply

For a complete description of the industries covered by each MIG, see Commission regulation (EC) No 656/2007 or KLASS in the following link: https://www.ssb.no/en/klass/klassifikasjoner/6/varianter/1121.

Name: Investments in oil and gas, manufacturing, mining and electricity supply

Topic: Energy and manufacturing

17 February 2022

Division for Business Cycle Statistics

National level only

Published quarterly about 8 weeks after the end of the quarter for final investments. First estimates for the current year are published in the 1st quarter and are based entirely on estimates. Annual estimates for the current year are updated quarterly in 2nd, 3rd and 4th quarter based on final investments in the previous quarter as well as updated estimates for current quarter and the rest of the year. Final annual investments are published 1st quarter the following year. Estimates for next year are published the first time in 2nd quarter the year before, and are updated in 3rd and 4th quarter the year before.

Not relevant

Non-revised and revised micro data are stored in accordance with Statistics Norway's guidelines for storing of computer files.

The survey monitors the development in estimated and final investments within oil and gas activities, manufacturing, mining & quarrying and electricity supply in order to provide information about domestic demand for capital goods. The survey is financed by government appropriations.

From the Q3 publication in 2015, the statistics on investments in manufacturing, mining and quarrying and electricity supply (KIS) is merged with the statistics on oil and gas activities, investments (OLJEINV). The combined statistics will provide a more comprehensive presentation of final and planned investments for oil and gas, manufacturing, mining and quarrying and electricity supply.

The two merged statistics have the same conceptual build-up, regarding press release and analysis.

On a quarterly basis, both statistics provide figures for actual investments made in the previous quarter, as well as updated annual estimates for the current and the next year. However, the two statistics are quite different when it comes to the collection of data and in the formula build-up. In the statistics on oil and gas activities all active enterprise are included in the statistical sample; in other words the sample is identical to the population. Statistics on investments in manufacturing, mining and quarrying and electricity supply (KIS), on the other hand, is based on sample of the population.

Before the merger, the statistics on oil and gas activities, investments (OLJEINV) has been published quarterly since 1984, while statistics on investments in manufacturing, mining and quarrying and electricity supply (KIS) has been published quarterly since 1973.

Large revisions in oil and gas activity:

As

of 2014 the category shutdown and removal was included in the statistics for oil and gas activities, investments. Until the statistical year 2012 this category was collected annually as a part of the current expenditure costs for the oil and gas industry. In accordance with international guideline changes the Norwegian annual national account regards these types of costs as an investment, as of the main revision 2014. In order to maintain accordance with the annual national account these costs were thus included in the statistics for oil and gas activities, investments. Figures going back to 2002 were also moved to the investment statistics.

Shutdown and removal also includes permanent shutdown (plugging) of wells. In the annual statistic, until the statistical year 2013, these costs were only collected for fields which where actually shut down. As of 2013 these costs are also collected for all active fields, since permanent shut down of wells may be performed while the field is still in production. Thus these types of costs are now collected by a larger population than before the revision. Hence, the figures for removal and shutdown before and after 2013 are not comparable. However, it may also be the case that costs related to shut down of wells which were not reported as shut down and removal before 2013 may have been included as production drilling investments under the category production.

In 2015 a revision of the questionnaires for oil and gas activities, investments was performed. Most of the questionnaires were simplified by removing some of the sub- cost categories.

Large revisions in manufacturing, mining and quarrying and electricity supply:

In Q2 2000 there was a comprehensive revision of the survey. The coverage was improved, and the industrial classification was revised for individual establishments. As from Q1 2004 results are estimated for the entire population. Prior to Q1 2004 the statistics was based on results for a sample of approximately 1900 establishments. High coverage and a high response rate were the incentives for using this simple form of aggregation.

As from Q1 2009 all results will refer to SIC2007. Historical series have been recalculated according to this version of SIC, and results dating back to 1995, or in some cases 1990, are available in the Statbank database. Historical series based on SIC2002 are still available in the Statbank database, but they will not be updated.

Internal users include statistics like the Quarterly National Accounts and the Economic Trends for Norway and Abroad . The results are also used in economic research.

External users include mass media, banks and financial institutions, public institutions like the Ministry of Finance and the National Bank of Norway etc.

No external users have access to the statistics and analyses before they are published and accessible simultaneously for all users on ssb.no at 8 am. Prior to this, a minimum of three months' advance notice is given inthe Statistics Release Calendar. This is one of Statistics Norway’s key principles for ensuring that all users are treated equally.

Results from the quarterly investment statistics are used by the Quarterly National Accounts to forecast the level of annual investments.

Investment statistics are also available in the annual structural business surveys for oil and gas activities , manufacturing, mining & quarrying , electricity supply and district heating. This data is also included in the build- up of the National Accounts

Oil and gas activity:

The information is collected by Statistics Norway on behalf of Norwegian Petroleum Directorate authorized in law by the Act of 29 November 1996 No. 72 relating to petroleum activities. Statistics Norway makes use of the information in preparation of official statistics, authorized in law by The Statistics Act of 1989.

Manufacturing, mining and electricity supply:

The Statistics Act of 21st of June 2019, §10 and §20

Not relevant.

The statistics covers mining and quarrying (05, 07, 08, 09.9), manufacturing (10-33) and electricity supply (35), extraction of crude oil and natural gas (06) as well as pipeline transport (49.5), see Standard Industrial Classification 2007(SIC2007). The population is defined by the Central Register of Establishments and Enterprises, and establishment is used as observation unit since it has a more delineated and homogenous activity than an enterprise.

Manufacturing, mining and electricity supply:

The survey uses information from the Central Register of Establishments and Enterprises and investment data collected by questionnaire from the observation units included in the sample. Annual structural data for manufacturing, mining & quarrying and annual structural data for electricity supply are used to inflate the results to population level.

The gross sample includes about 1850 establishments and represents 9 per cent of the population. The observation units cover 80 per cent of the total level of investment for the industries covered by the survey.

The sample includes all establishments with 100 employees or more. Large investment projects in industries covered by the survey are also included. The remaining units are drawn by using a method based on stratification and optimal allocation with probability proportional to the size of the unit measured by the number of employees.

In principle, establishments with less than 10 employees are not included in the survey, but some exceptions are made. This can be newly started establishments which have not yet registered employment figures, units within electricity supply which have inadequate employment figures and units in industries whit very few numbers of establishments.

Strata (employees)

Sample

Distribution strata 2 - 5

Method

1 - (> 100)

401

Cut-off

2 - (50-99)

414

28,3

PPS

3 - (20-49)

629

43,1

PPS

4 - (10-19)

307

21,0

PPS

5 - (< 10)

111

7,6

Cut-off

1862

Oil and gas activity:

For extraction of crude oil (06.100), extraction of natural gas (06.200) and pipeline transport (49.500) questionnaires are filled out by operators with extraction licenses. For these industries all active enterprises are included in the survey; the sample is identical to the population.

Manufacturing, mining and electricity supply:

The survey is based on data collected by questionnaires. The questionnaires are returned electronically via Altinn. The questionnaires are available in Altinn in the middle of the first month of each quarter for the first, second and fourth quarter. For the third quarter, the questionnaires are available at the end of June.

The deadline for returning the questionnaire is normally in the beginning of February, May, August and November. Respondents who fail to return the questionnaire receive a compulsory fine 5 days after the deadline, whereupon a new deadline of 7-9 days is set.

The questionnaires are downloaded from Altinn, and the data are automatically checked for duplicates and errors in totals. The results are also checked for deviations from data collected in previous quarters. When there are considerable deviations the establishment is contacted. Editing on an aggregated level is conducted by assessing the development over time, and unacceptable series lead to further editing of the data. Comparisons with annual structural statistics for manufacturing, mining & quarrying, electricity supply and district heating are also carried out.

Results are inflated to population level by using a ratio estimator. Investment data from the annual structural statistics for manufacturing, mining & quarrying and for electricity supply are used for calculating the ratios. The population and the sample are divided into sub-groups prior to estimation, first by grouping the establishments into publication levels approximately equal to 2-digit NACE (SIC2007) and then by stratifying the publication levels. The size of the establishment's average investments as registered in the annual structural statistics is used as stratification variable. Results from the three most recent annual surveys are used for calculating average investments.

Estimates are made for each publication level * stratum. The largest projects are not included in the estimation, but are added to the results to calculate the total level of investment within each publication level. Totals for mining & quarrying, manufacturing and electricity supply are created by summarising the estimates.

Oil and gas activity:

Figures for accrued and estimated investments in the oil and gas activity are collected for a number of goods and services. The accrued investment costs are requested. The investments contain the industry sector`s extraction of crude oil and natural gas, and pipeline transport (06.100, 06.200, 49.50) and are divided into investments for exploration, field development, fields on stream, shutdown and removal onshore activities and pipeline transport.

The data is collected by an electronic file transfer system (MoveIT), and the respondents are licence operators on the Norwegian continental shelf.

The data are automatically checked for duplicates and errors in totals. The results are also checked for deviations from data collected in previous quarters. When there are considerable deviations the establishment is contacted. Editing on an aggregated level is conducted by assessing the development over time, and unacceptable series lead to further revision of the data.

Quarterly investment figures on oil and gas activity are also seasonally adjusted as of Q3 2015.

Time series sometimes contain significant seasonal variation that makes it difficult to interpret the results from one period to another. This problem is solved with the help of sesonal adjustment. The Quarterly Investment Statistics uses X12-ARIMA to calculate seasonally adjusted figures and smoothed seasonally adjusted figures. For further information, please see the section About seasonal adjustment.

Confidential micro data: According to §8 of the Statistics Act of 21st of June 2019 nr.32, collected data are subject to secrecy and are to be kept or destroyed in a secure manner. Any use of the data must be in accordance with the rules set out by the Data Inspectorate.

Time series that are not to be published: The publication of data is subject to the provisions in §7 of Statistics Act of 21st of June 2019 nr.32. The main rule is that data should not be published if they can be traced back to the respondent, i.e. figures for which less than three respondents make up the foundation for a cell in the table, figures where one respondent represents more than 90 per cent of the total value or figures where two respondents represent at least 95 per cent of the total value. In the Quarterly Investment Statistics this is the case in sector 05, 12 and 19 (SIC2007).

Unpublished data: Revised data which are not published are subject to secrecy. This implies that they are unavailable to Statistics Norway's employees without distinct approval.

As from Q1 2009, SIC2002 is replaced by SIC2007 (chapter 2.1). Users must ensure that they use results based on the same version of SIC when making comparisons over time. Historical series based on SIC2002 are available in the Statbank database for 1989 to 2008.

Measurement errors are caused by the questionnaire or the respondent’s internal systems for obtaining the data. One source of measurement errors may be ambiguous guidelines. Great effort is put into avoiding this kind of errors, and the introduction of electronic data collection has reduced the scope of measurement errors by integrating logical controls in the questionnaires.

Processing errors may occur when Statistics Norway process the data. Typical examples are misinterpretations, or when correct answers are assumed to be false and corrected. Electronic data collection through Altinn has reduced these kinds of errors.

Errors of non-response refer to errors that either occurs due to missing questionnaires or blank boxes in the questionnaire. The response rate when the deadline expires is around 97 per cent for manufacturing, mining and electricity supply, and 99.5 per cent for oil and gas activity. Critical units, i.e. units that have a considerable impact on the results on a detailed level aggregation (2-digit NACE), are contacted by telephone. Calculations of the effect of missing units have been done, but so far any evidence of skewness has not been uncovered. Missing questionnaires for manufacturing, mining and electricity supply are imputated by the use of figures from previous surveys (cold-deck). Boxes in the questionnaire that are left blank (partial non-response) are treated as zero. This is not always correct. In general, it is difficult to identify this type of errors, and a great deal of effort is put into securing the quality of the data from units with a considerable effect on the overall level of investment within a single industry.

Sampling errors refer to uncertainty that occur in sample surveys as opposed to a full count. The sample variance equals the expected deviation between a sample survey and a full count. In order to ensure a high degree of relevance at the lowest cost possible, great effort is put into including all large units in the population in the sample. Calculations of the size and significance of this type of error have not yet been carried out. Establishments that close down may be a source of skewness if the proportion of close downs in the sample deviates from the population. The quarterly investment statistics is based on a fixed sample (panel). Periodic updates of the sample ensure that this is in accordance with the population. Sampling errors are not relevant for oil and gas activity since all active units are included in the survey; i.e the sample is identical to the population.

Coverage errors refer to errors in the registers that define the population. As a result, units may be incorrectly included in or excluded from the population. This is usually due to misleading or insufficient information at a certain time. Calculations of the size and significance of such errors have not yet been carried out. However, such errors are not considered to be greater than for other quantitative short-term statistics. Annual revisions of the industry classification for the sample units are performed around Q2 every year in order to ease these types of errors.

Modelling errors are first and foremost related to problems with seasonal adjustment of time series. Such problems are caused by deviation from the conditions that form the basis for the model used. Typical problems are related to movable public holidays such as Easter. However, such problems are considered greater for surveys published on a monthly basis. X12-ARIMA generates a number of indicators that are used to evaluate the quality of the seasonal adjustment. These indicators have identified a stable seasonal pattern for manufacturing, electricity supply and oil and gas activities. However, this is not the case for mining and quarrying.

Nor relevant

What is seasonal adjustment?

Monthly and quarterly time series are often characterised by considerable seasonal variations, which might complicate their interpretation. Such time series are therefore subjected to a process of seasonal adjustment in order to remove the effects of these seasonal fluctuations. Once data have been adjusted for seasonal effects by X-12-ARIMA or some other seasonal adjustment tool, a clearer picture of the time series emerges.

For more information on seasonal adjustment: metadata on methods: seasonal adjustment

Why do we seasonally adjust statistics on quarterly investments in oil and gas, manufacturing, mining and electricity supply?

The statistics on quarterly investments in oil and gas, manufacturing, mining and electricity supply is part of a system of short-term statistics compiled to monitor the economy. The primary goal of the survey is to monitor the development in actual and estimated investments as they are important indicators on the demand for capital goods in the economy.

Historical data reveal that time series on quarterly investments in oil and gas, manufacturing, mining and electricity supply have a clear seasonal pattern (see chart), and this might complicate the interpretation of the time series from quarter to quarter.

However, it is possible to adjust for this type of seasonal variations (see chart).

The seasonal factors (chart 1) show that quarterly investments seem to be low in the first quarter and high in the fourth quarter. The estimates for the second and the third quarter lie in between the two extremes and more or less share the same value. The stable seasonal pattern in the unadjusted series indicates a low degree of white noise. This conclusion is supported by the small gap between the seasonally adjusted time series and the smoothed seasonally adjusted time series (trend).

No empirical studies are conducted to explain the seasonal pattern for quarterly investments in oil and gas, manufacturing, mining and electricity supply. However, years of experience has shown that the following factors are possible sources of seasonal variations.

Seasonal variations

Temperatures and weather conditions seem to influence investment behaviour.

The nature of projects

Projects (particularly in manufacturing and electricity supply) often start at the beginning of the year and are scheduled to be finished within twelve months. Investments are most likely to be low in the initial phase of a project. The reason for this is that the groundwork often costs substantially less than new machinery and equipment.

Accounting principles

Some of the smaller establishments choose to report total investments in the fourth quarter of the year. This is against the guidelines, but can be explained by a lack of proper tools for making budgets and measure costs.

Seasonally adjusted time series

Seasonally adjusted time series are published for estimated and actual quarterly investments in:

- extraction of oil and gas, pipeline, mining, manuf. and electricity supply

- extraction of oil and gas and pipeline transport

- manufacturing, mining & quarrying and electricity supply

- manufacturing, mining & quarrying

- manufacturing

- mining & quarrying

- electricity supply

Pre-treatment routines/schemes

Pre-treatment is an adjustment for variations caused by calendar effects and outliers.

Automatic pre-treatment of raw data based on standard options in the seasonal adjustment tools.

Calendar adjustment

Calendar adjustment involves adjusting for the effects of working days/trading days and for moving holidays. Working days/trading days are adjustment for both the number of working days/trading days and for that the composition of days can vary from one month to another.

Calendar adjustments are performed on all time series showing significant and plausible calendar effects within a statistically robust approach such as regression or RegARIMA (a regression model with an ARIMA structure for the residuals).

Methods for trading/working day adjustment

RegARIMA correction. The effect of trading days is estimated in a RegArima framework.

The effect of trading days is estimated by using a correction for the length of the month and for leap year before regressing the series on the number of working days. The residuals will have an ARIMA-structure.

Correction for moving holidays

Automatic correction. If performed by X-12-ARIMA, automatic correction of raw data will be based on US holidays.

National and EU/euro area calendars

Use of default calendars. The default in X-12-ARIMA is the US calendar.

Treatment of outliers

Outliers, or extreme values, are abnormal values of the series.

Outliers are detected automatically by the seasonal adjustment tool. The outliers are removed before seasonal adjustment is carried out and then reintroduced into the seasonally adjusted data.

Model selection

Pre-treatment requires choosing an ARIMA model, as well as deciding whether the data should be log-transformed or not.

Automatic model selection by established routines in the seasonal adjustment tool.

Decomposition scheme

The decomposition scheme specifies how the various components – basically trend-cycle, seasonal and irregular – combine to form the original series. The most frequently used decomposition schemes are the multiplicative, additive or log additive.

Manual decomposition scheme selection after graphical inspection of the time series.

Choice of seasonal adjustment approach

X-12-ARIMA

Consistency between raw and seasonally adjusted data

In some series, consistency between raw and seasonally adjusted series is imposed.

Do not apply any constraint.

Consistency between aggregate/definition of seasonally adjusted data

In some series, consistency between seasonally adjusted totals and the aggregate is imposed .For some series there is also a special relationship between the different series, e.g. GDP which equals production minus intermediate consumption.

Do not apply any constraint.

Direct versus indirect approach

Direct seasonal adjustment is performed if all time series, including aggregates, are seasonally adjusted on an individual basis. Indirect seasonal adjustment is performed if the seasonally adjusted estimate for a time series is derived by combining the estimates for two or more directly adjusted series.

Direct seasonal adjustment is performed on aggregates and components using the same approach and software. Any discrepancies across the aggregation structure are not removed.

Horizon for estimating the model and the correction factors

When performing seasonal adjustment of a time series, it is possible to choose the period to be used in estimating the model and the correction factors. Correction factors are the factors used in the pre-treatment and seasonal adjustment of the series.

The whole time series is used to estimate the model and the correction factors

General revision policy

Seasonally adjusted data may change due to a revision of the unadjusted (raw) data or the addition of new data. Such changes are called revisions, and there are several ways to deal with the problem of revisions when publishing the seasonally adjusted statistics.

Seasonally adjusted data are revised in accordance with a well-defined and publicly available revision policy and release calendar.

Concurrent versus current adjustment

The model, filters, outliers and regression parameters are re-identified and re-estimated continuously as new or revised data become available.

Horizon for published revisions

The revision period for the seasonally adjusted results is limited to 3-4 years prior to the revision period of the unadjusted data, while older data are frozen.

Comment: The revision period for the seasonally adjusted figures is 4 years when new data are added. The whole time series may be revised when implementing new or improved methods.

Evaluation of seasonally adjustment data

Continuous/periodical evaluation using standard measures proposed by different seasonal adjustment tools.

Quality measures for seasonal adjustment

For most of the series, a selected set of diagnostics and graphical facilities for bulk treatment of data is used.

A table containing selected quality indicators for the seasonal adjustment is available here .

For more information on the quality indicator in the table see: metadata on methods: seasonal adjustment

Seasonal adjustment of short time series

All series are sufficiently long to perform an optimal seasonal adjustment.

Treatment of problematic series

None of the published series are viewed as problematic.

Data availability

Unadjusted and seasonally adjusted data are available.

Press releases

In addition to unadjusted data, at least one of the following series is released: Calendar adjusted, seasonally adjusted, smoothed seasonally adjusted (trend).





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