The index value for turnover in manufacturing was 179.5 (2005=100) in the fourth quarter of 2021 compared to 177.8 in the previous quarter, according to . The increase in manufacturing turnover in the last quarter of 2021 is fueled by higher prices and high demand from the domestic market.

Figure 1. Index of turnover for manufacturing. Seasonally adjusted. Three-month moving average¹. 2005=100

¹ The index value for period m is the average of period m, m-1 and m-2.

Three-month change: refined petroleum, chemicals and pharmaceutical products pulls up

Total Norwegian manufacturing turnover increased by 1.0 per cent from the third to the fourth quarter of 2021. High prices and high turnover in the domestic marked contributed to the growth in the manufacturing turnover. The domestic market contributed the most to the increase while the export marked had an decrease.

Refined petroleum, chemicals and pharmaceutical products together with basic metals contributed the most to the increase in manufacturing turnover with an increase of 11 and 8 per cent respectively.

Fabricated metal products contributed the most to curbing the positive development in manufacturing turnover.

Monthly change: manufacturing turnover fell in November

Seasonally-adjusted figures show that the turnover in Norwegian manufacturing decreased by 1.6 per cent from November to December 2021 according to seasonally-adjusted figures. The decrease came from the export market. The domestic market had an increase.

Food products and fabricated metal products contributed the most to the decrease in manufacturing turnover with its decrease of 4.1 and 13 per cent respectively.

Basic metals and basic chemicals contributed the most to curbing the decrease in manufacturing turnover.

Figure 2. Selected industries. Seasonally adjusted. Three-month moving average¹

¹ The index value for period m is the average of period m, m-1 and m-2.

Monthly change: increase in manufacturing turnover in the euro area in November 2021

Manufacturing turnover in the euro area increased by 3.5 percent from October to November 2021, according to seasonally-adjusted figures. Total Norwegian manufacturing turnover increased by 3.8 percent in the same period. In the other Scandinavian countries, the turnover in Denmark and Sweden increased by 1.5 and 0.4 per cent respectively, according to Eurostat.

Annual change; manufacturing turnover at record level in 2021

Norwegian manufacturing turnover had an of 12 per cent from 2020 to 2021 and ended up at a record level. High prices contributed to the growth in the manufacturing turnover. The Producer Price index had a positive annual change of 11 per cent.

The export market contributed the most to the increase with an increase of 18 per cent. The domestic turnover also increased from 2020 to 2021, by 8.1 per cent. The domestic market stood for 57 per cent of the manufacturing turnover.

The year as a whole the industry grouping refined petroleum, chemicals and pharmaceutical products and metal products contributed the most to the increased manufacturing turnover. The turnover in the industry grouping refined petroleum, chemicals and pharmaceutical products is back at the last record recorded in 2018. In addition, there was a significant contribution from the food products which increased by 8.6 per cent.

Thursday 12th of March 2020 the Norwegian government introduced actions against the spreading of the Corona-virus in Norway. Several manufacturing establishment have been affected by these measures, and this has led to a change in the activity pattern compared to what we usually observe. Hence, the seasonal adjustment routine during the Corona- crisis is done in such a way that the figures during the crisis (from March), are not included in the basis for the calculation of the seasonal pattern. Technically, in the seasonal adjustment routine this is done by specifying March and the following months as outliers.

This implies that normal trend figures will not be calculated, and instead the trend will follow the seasonal adjusted figures. One important exception is the last observation, where the trend will be an extrapolated figure where the last observation is not included. The trend figures from, and including, March 2020 will therefore be difficult to interpret.

The seasonal adjustment routine of Statics Norway is in line with the recommendations of Eurostat.