This is an archived release.
Slight rise in turnover
Turnover within manufacturing was NOK 124 billion from January to March. This is a 1.3 per cent increase from the same period in 2002. Within Norwegian oil- and gas extraction turnover in March was approximately NOK 31 billion, a 4 per cent higher figure than in March 2002.
Within oil and gas extraction turnover amounted to approximately NOK 95 billion in the first quarter of 2003, a 21 per cent increase compared with the first quarter of 2002. Several companies have given reports of large volumes at high prices in the trading of oil. According to the External merchandise trade statistics, the average price for oil in March was NOK 226 per barrel, a price which is more than 13 per cent higher than the price in March last year.
Increased turnover in the capital goods sector
Industries producing capital goods (transport equipment, fabricated metal products and machinery and equipment n.e.c) experienced a 2.3 per cent higher turnover in the first quarter of 2003 compared with the first quarter 2002. Transport equipment alone had a 44 per cent increase in turnover. This is however an industry with fluctuating turnover related to realization of large contracts.
Lower turnover for intermediate goods
Figures for intermediate goods show a 2.1 per cent decline in the period from January to March 2003 compared with the same period in 2002. Continuing weak turnover within basic chemicals contribute largely to the decline within the industrial grouping. Turnover for other intermediate goods such as Wood and wood products, Rubber and plastic products and Basic metals have on the other hand experienced a rise in turnover in the period.
Consumer goods also in decline
Consumer goods (food and food products, textiles, wearing apparel, leather and publishing, printing and reproduction) fell by 2.9 per cent in the first quarter, compared to the same period last year. Food and food products fell 1.4 per cent in relation to the year before. The reduction was in the main due to a decrease in the production and preservation of fish and fish products.
Rates and Electricity, gas and steam supply
Year-on-year figures for March and from January to March should be interpreted cautiously, due to the fact that the Easter holiday was in March last year and in April this year. Long-term financial contracts influence the level in turnover within electricity, gas and steam supply. It is therefore advised to interpret figures with caution.
Statistics on turnover of oil and gas extraction, mining and quarrying, manufacturing, electricity and gas supply.
|Original series1||Changes in per cent||Seasonally adjusted changes in per cent|
|March 2003||March 2002-March 2003||December 2002-January 2003||January 2003-February 2003||February 2003-March 2003|
|The overall turnover||88 990||11.8||1.9||6.8||-9.8|
|Oil and Gas Extraction||31 124||4.1||10.6||5.5||-4.9|
|Electricity, Gas and Steam Supply||13 684||94.3||-17.8||26.7||-30.4|
|Main industrial groupings|
|Intermediate goods||14 932||5.6||4.4||-0.1||1.3|
|Capital goods||11 327||-1.9||-8.2||10.0||-8.0|
|Consumer goods||14 665||-1.9||4.3||-8.6||0.7|
|Energy goods||48 066||23.3||5.7||13.7||-12.0|
Find detailed figures from Turnover in oil and gas, manufacturing, mining and electricity supply