Stable industrial turnover
Energy and manufacturing;Energy and manufacturing
ogibkoms, Turnover in oil and gas, manufacturing, mining and electricity supply, industrial turnover, domestic market, export market, valueEnergy , Oil and gas , Manufacturing, mining and quarrying , Energy and manufacturing

Turnover in oil and gas, manufacturing, mining and electricity supplyMarch 2012



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Stable industrial turnover

The total turnover in Norwegian manufacturing increased by 2.7 per cent from the fourth quarter of 2011 to the first quarter of 2012, according to seasonally-adjusted figures.

Index of turnover for manufacturing January 2003-March 2012, 2005=100

Growth in industrial turnover in 1st quarter 2012

Changes in industrial turnover are a result of changes in production volume and prices. In addition, sales from stocks and delivery schedules could influence turnover. Within industries where large projects are completed, it is usual that these are registered when they are delivered. En example of this is the industry of building ship and oil platforms. In the first quarter of 2012, several large deliveries were registered, which have been produced over a longer period of time. This contributed to a disparity between turnover and the industrial production index.

Meanwhile, seasonally-adjusted figures showed an increase in turnover within food products by 4.2 per cent from the fourth quarter of 2011 to the first quarter of 2012. This was due to higher production volume and prices. Wood and wood products went up 8.2 per cent due to increased production volume, see the Index of production . Building of ship and oil platforms showed a 4.8 per cent increase, as mentioned before, due to several large deliveries in the first quarter of 2012.

Turnover up from February to March

Seasonally-adjusted figures showed that total Norwegian manufacturing turnover went up by 1.8 per cent from February to March. Machinery and equipment increased by 7.4 per cent, while basic metal grew 5.0 per cent. Food products rose by 5.8 per cent and this was the largest contributor to the monthly change.

Increase from March 2011 to March 2012

Unadjusted figures showed an increase of 7.0 per cent in total manufacturing turnover in March 2012 compared to March 2011. The domestic market grew in turnover by 10.3 per cent, while the corresponding figure within the export market was 2.2 per cent. Machinery and equipment showed a solid increase, up 23 per cent. Fabricated metal products went up 16 per cent and food products grew by 13 per cent.

Industries with reduced turnover were non-ferrous metals with a fall of 10.7 per cent, while paper and paper products fell by 11.6 per cent.

Statistics on turnover of oil and gas extraction, mining and quarrying, manufacturing, electricity and gas supply. March 2012
  Original series.1January-March 2012 Changes in per cent. January-March 2011-January-March 2012 Original series.1March 2012 Changes in per cent. March 2011-March 2012 Changes in per cent. Seasonally adjusted. October 2011-December 2011- January 2012-March 2012
The overall turnover  439 870 9.6  152 425 6.9 4.2
Extraction and related services  204 962 22.6 70 814 19.8 9.2
Manufacturing, mining and quarrying  200 002 8.1 72 289 7.4 3.0
Domestic market  118 753 9.4 43 503 10.7 4.1
Export market 81 249 6.3 28 786 2.8 1.1
Electricity, Gas and Steam Supply 34 906 -29.2 9 322 -42.5 0.1
Main industrial groupings          
Intermediate goods 93 304 8.1 33 866 7.9 3.2
Capital goods 55 531 13.3 20 358 9.9 2.4
Consumer goods 49 124 5.6 18 044 8.5 2.3
Energy goods  241 913 10.1 80 158 5.4 8.7
1  NOK million.

Interpretation of seasonally-adjusted figures

In order to facilitate the interpretation of the short-term development, statistics on turnover publishes three-month moving averages of the seasonally-adjusted figures. We normally compare the latest non-overlapping three-month periods (for instance October to December compared with January to March).

The relationship between production and turnover

The development in the turnover can be related to changes in both volume and prices in the different industries. Production to stocks and sales from stocks can also happen. Reporting of large deliveries of capital goods can contribute to differences in the development in the index of production and the statistics on turnover.