Industrial turnover slightly up in 2011
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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 supplyDecember 2011



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Industrial turnover slightly up in 2011

Turnover in Norwegian manufacturing increased by 0.8 per cent from 2010. The export market went up by 10.3 per cent, while the home market fell by 4.8 per cent.

Index of turnover for manufacturing. Seasonally adjusted. Three-month moving average 2002-2011

Index of turnover for manufacturing January 2002-December 2011, 2005=100

Increase in turnover within several industries in 2011

The strongest growth in turnover was within the grouping refined petroleum, chemicals and pharmaceutical, which went up 13.2 per cent. This was despite the difficulties in the market situation within the solar industry, which is an important component in this large grouping. Fabricated metal products showed a 9.2 per cent increase since 2010, mostly due to the higher production volume. See the index of production . Basic metals increased by 9.1 per cent. Nevertheless, the industry has experienced a steady fall in prices during the second half of 2011. Food products and computer and electrical equipment contributed with 1.4 and 4.4 per cent increases respectively.

Turnover within machinery and equipment fell by 12 per cent in 2011 and lowered the growth in industrial turnover. Building of ships, boats and oil platforms went down by 21.5 per cent, while repair, installation of machinery fell by 7.5 per cent. These industries started to show a higher turnover towards the end of 2011 and all of them showed an increased turnover in the fourth quarter in 2011.

Increase in turnover in 4th quarter 2011

Seasonally-adjusted figures showed that Norwegian manufacturing turnover grew by 2.1 per cent from the previous quarter. The biggest contribution came from building of ships, boats and oil platforms, up 24.1 per cent followed by repair, installation of machinery with a 14.1 per cent increase. In addition, refined petroleum, chemicals and pharmaceutical had growth of 3.1 per cent. Machinery and equipment went up by 3.2 per cent.

Conversely, basic metals showed a drop in turnover of 7.1 per cent in the 4th quarter in 2011. Falling prices continue for this industry, especially within non-ferrous metals.

Increase from November to December 2011

Seasonally-adjusted figures showed an increase of 3.1 per cent in total manufacturing turnover from November to December 2011. Machinery and equipment as repair, installation of machinery increased their turnover by 12.3 and 15.6 per cent respectively.

Statistics on turnover of oil and gas extraction, mining and quarrying, manufacturing, electricity and gas supply. December 2011
  Original series.1
January-December 2011
Changes in per cent.
January-December 2010-
January-December 2011
Original series.1
December 2011
Changes in per cent.
December 2010-
December 2011
Changes in per cent.
Seasonally adjusted.
July 2011-September 2011-
October 2011-December 2011
The overall turnover 1 576 575 6.1  144 315 -1.6 -1.1
Extraction and related services  666 352 18.5 65 553 13.4 -0.6
Manufacturing, mining and quarrying  773 428 0.9 67 535 2.4 2.0
Domestic market  461 586 -4.6 43 137 0.9 4.6
Export market  311 839 10.3 24 397 5.2 -2.3
Electricity, Gas and Steam Supply  136 796 -12.6 11 228 -51.0 -25.4
Main industrial groupings          
Intermediate goods  368 284 10.2 29 331 2.8 -0.2
Capital goods  202 961 -11.4 22 002 12.0 11.1
Consumer goods  193 580 -0.8 15 883 -4.5 0.3
Energy goods  811 751 11.7 77 100 -5.8 -3.5
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 July to September compared with October to December).

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.