Turnover in oil and gas, manufacturing, mining and electricity supply, May 2002

The decline in manufacturing is due to lower revenues in industries which to a considerable degree are exporting such as pulp, paper and paper products, basic chemicals and basic metals. However, fabricated metal products, machinery and equipment and electrical and optical equipment counteract the decline in manufacturing.

The decline in export industries continues

Overall revenues in basic metals and basic chemicals continued to slip back in May 2002. Total turnover in basic metals was approximately NOK 3 billion in May 2002 in terms of the twelve-month rate. So far in 2002 overall revenue in basic metals was NOK 14 billion. Compared with the corresponding period in 2001 this is a downward effect of 18.7 per cent.

Basic chemicals down

Total turnover in basic chemicals was NOK 2 billion in May 2002, less than 27.9 per cent in terms of the twelve-month rate. Furthermore, so far in 2002 overall revenue in basic chemicals was NOK 9 billion, a decline of 21.8 per cent compared with the same period in 2001. In brief, the decline is due both to lower production (see the Index of production ) and a drop in prices (see the Producer price index ).

Modest improvement for food products, beverages and tobacco

Total turnover for food products, beverages and tobacco was approximately NOK 13 billion in May 2002, a modest increase of 1.4 per cent in terms of the twelve-month rate. So far in 2002 overall revenue is approximately NOK 59 billion, an increase of 8.6 per cent compared with the corresponding period in 2001.