Turnover in oil and gas, manufacturing, mining and electricity supply, March 2014

Manufacturing turnover showed a stable trend in the first quarter of 2014 compared to the last quarter of 2013, according to seasonally-adjusted figures . Most of the industrial sectors showed a flat tendency in this period, while three sectors, which account for about 36 per cent of total manufacturing turnover, showed notable changes.

Food products, which have a share of almost 20 per cent of total manufacturing turnover, fell 3.3 per cent. However, this was counterbalanced by an increase in building of ships and oil platforms (8.6 per cent) and repair, installation of machinery (12 per cent). The Index of industrial production shows that these industries had the same trend in their production volume as their turnover. Basic metals also edged up 2 per cent and helped to pull up the total turnover.

Monthly change: decline in turnover from February to March 2014

Total Norwegian manufacturing turnover went down 2.6 per cent from February to March 2014, according to seasonally-adjusted figures. The biggest contributor pulling down total manufacturing turnover was the grouping refined petroleum, chemical and pharmaceutical industries, which recorded a decline of 6.2 per cent in this period. Although building of ships, boats and oil platforms showed solid growth in the first quarter of 2014, a decrease of 7.3 per cent was recorded from February to March 2014, mainly as a result of several project deliveries in February. This was followed by basic metals and fabricated metal products, which fell 4.2 and 8.1 per cent respectively.

On the contrary, repair, installation of machinery edged up 8.6 per cent, the machinery and equipment industry rose 3.4 per cent and food products increased by 2.1 per cent in this period.

Twelve-month change: prominent growth for machinery and equipment industry from March 2013

Calendar-adjusted figures showed an increase of 0.9 per cent in total manufacturing turnover in March 2014 compared to March 2013. While the domestic market enjoyed a 7.7 per cent growth, the export market recorded a decline of 9.1 per cent.

Much of this increase is due to the distinguished growth in the machinery and equipment industry, which edged up 27 per cent. Building of ships, boats and oil platforms also showed an increase of 24.1 per cent. The growth in both industries was due to the higher turnover in the domestic market. Food products (1.6 per cent), repair, installation of machinery (10.7 per cent), and computer and electrical equipment (8.6 per cent) were also among the industries helping to pull up the turnover in this period.

In the opposite direction, the grouping refined petroleum, chemical and pharmaceutical industries edged down 8.4 per cent. Fabricated metal products went down 23.6 per cent and basic metal also fell 4.7 per cent.

Monthly change: growth for Norway, slight fall for the euro area in February 2014

Norwegian manufacturing turnover went up 5.8 per cent from January to February 2014, according to seasonally-adjusted figures. In the same period, manufacturing turnover in the euro area showed a slight decline of 0.2 per cent, according to Eurostat.