Turnover in oil and gas, manufacturing, mining and electricity supply, January 2003

Comparing the last three-month average with the previous three-month period, figures show a decline in total turnover, a 2.3 per cent decrease. Both intermediate goods and capital goods experienced a decline whilst the turnover for consumer goods maintained a stable position.

Decline in the fabricated metal industry - growth in basic metals

Fabricated metal products show a drop in turnover of 10.2 per cent when compared with figures from the corresponding period last year. Refined petroleum products and chemicals and chemical products, pulp, paper and paper products and electrical and optical equipment also experienced negative changes for the same period. The production of basic chemicals is the most significant contributor to the negative figures for refined petroleum products and chemicals and chemical products.

Basic metals experienced a positive growth in January, with figures 4.7 per cent higher than in January 2002. In addition, seasonally adjusted figures show growth in the same industry, an increase of 11 per cent from December 2002 to January 2003. To a large degree, the turnover in non-ferrous metals is the reason for the growth in this sector. Furthermore, turnover within the production of food products increased the turnover compared with the corresponding month last year. Average turnover in the period November to January shows a slight decline when compared with the average from August to September. Most significant is the fall in turnover for the production and preservation of fish and fish products.

Oil and gas extraction

Turnover for oil and gas extraction amounted to approximately NOK 31 billion in January 2003, an increase of 35.7 per cent compared to same period last year, according to unadjusted figures. This rise in turnover is coherent with higher prices of raw material in January 2003 when compared with last year's prices. There has been a slight decrease in Norwegian oil extraction, whilst gas extraction increased by 10 per cent compared with January 2002, according to Manufacturing, index of production .

Electricity, gas and steam supply

Long-term financial contracts influence the level in turnover within electricity, gas and steam supply. For this reason it is advised to interpret and compare figures for these with caution.