This is an archived release.
Growth in turnover in 2008
The total turnover in Norwegian manufacturing amounted to NOK 861 billion in 2008. This is an increase of 8.5 per cent from 2007. The first three quarters showed a growth in turnover while the last quarter pulled the result down.
2008 was a good year for turnover in Norwegian manufacturing since both prices and production volumes grew. The producer price index shows an increase in prices of 6.3 per cent for the industrial groupings last year. Production volumes increased by 2.7 per cent according to the index of production .
Strongest growth for capital goods
With an increase of 22.0 per cent, capital goods were the major contributor to the rise in turnover in 2008. For this group the turnover rose by 23.5 per cent in the domestic market and by 18.4 per cent in the export market. Oil platforms rose by 29.4 per cent and machinery and equipment went up by 23.8 per cent.
The turnover for intermediate goods increased by 3.7 per cent in 2008. The domestic market went up 7.4 per cent, while the export market went down by 0.3 per cent. Both mineral products and basic chemicals went up by 8.4 per cent and metal products increased by 7.9 per cent. Basic metals had the largest decline (6.3 per cent).
Consumer goods had the lowest growth turnover in 2008 (an increase of 1.3 per cent). The export market rose by 1.8 per cent and the domestic market rose by 1.1 per cent. Food, beverages and tobacco products had a growth of 5.0 per cent in 2008.
Turnover fell in fourth quarter 2008
Seasonally adjusted figures show that the turnover in Norwegian manufacturing went down by 4.3 per cent from the third to the fourth quarter. The domestic market went up 0.7 per cent while the export market fell 9.6 per cent. Intermediate goods fell the most by 5.2 per cent. Refined petroleum products, and chemicals and chemical products experienced a fall in turnover of 16.9 per cent and basic metals fell by 16.2 per cent. This development is due to both lower prices and lower output last quarter. Consumer goods went down by 2.5 per cent. Capital goods showed an increase of 3.8 per cent.
|Original series.1January-December 2008||Changes in per cent. January-December 2007-January-December 2008||Original series.1December 2008||Changes in per cent. December 2007-December2008||Changes in per cent. Seasonally adjusted. July 2008-September 2008-October 2008-December 2008|
|The overall turnover||1 661 913||14.5||129 528||-2.3||-7.1|
|Oil and Gas Extraction||665 257||19.5||45 903||-18.2||-12.8|
|Manufacturing||860 623||8.5||69 370||8.4||-4.3|
|Hjemmemarked||527 920||9.8||45 442||19.6||0.7|
|Eksportmarked||332 703||6.5||23 928||-8.0||-9.6|
|Electricity, Gas and Steam Supply||120 923||36.0||13 373||15.3||-0.2|
|Main industrial groupings|
|Intermediate goods||311 473||3.7||21 976||1.0||-5.2|
|Capital goods||276 259||22.0||28 389||41.1||3.8|
|Consumer goods||204 002||1.3||16 363||3.8||-2.5|
|Energy goods||870 182||20.4||62 800||-16.2||-12.4|
Important announcement: New classification being implemented shortly
As from January 2009, a new version of Eurostat’s industry classification, NACE, will be in use. The Index of Production (IP) is affected by the change of nomenclature from the publication of January 2009 results. Click here to read more about the implications for users, calculation and dissemination.
Find detailed figures from Turnover in oil and gas, manufacturing, mining and electricity supply