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

The index value for turnover in manufacturing was 151.7 (2005=100) in the period June to August 2014, compared to 151.5 in the previous three-month period, according to seasonally-adjusted figures . The downfall in the domestic market was offset by the growth in the export market.

Three-month change: notable increase in machinery and equipment

Although the overall turnover in manufacturing remained unchanged, some of the industries had significant increases or decreases in turnover. Seasonally-adjusted figures showed that machinery and equipment as one of the biggest suppliers to the oil and gas sector had an increase of 14.6 per cent. This industry also showed growth in production volume during the same period , according to the index of industrial production . In addition, the basic metal industry edged up 8.8 per cent, mainly as a result of a growth in non-ferrous metals. According to the producer price index , these industries also benefitted from a significant positive trend in prices in the metal market during this period .

On the contrary, the grouping refined petroleum, chemical and pharmaceutical industries had a decline of 3.9 per cent in this period. Fall in the turnover for the building of ships, boats and oil platforms, as well as repair and installation of machinery helped to pull down the total turnover. Food products also showed a slight decrease in this period.

Monthly change: remarkable growth for suppliers to the oil and gas sector

Turnover in most industries increased from June to July, which led to a total increase of 6.1 per cent in Norwegian manufacturing with a positive trend for both the domestic and export market.

Building of ships, boats and oil platforms, with a solid growth of 68.2 per cent, was the biggest contributor to this increase. The high level of activities among a few leading suppliers can be accounted as the reason for this great boost in turnover.

Growth in manufacturing was further enhanced by increase in machinery and equipment industry as well as repair and installation of machinery, 27.5 and 6.1 per cent respectively. The basic metal industry also edged up 1.9 per cent. Food products accounted for about 22 per cent of total manufacturing turnover, increased by 1.6 per cent in this period.

In the opposite direction, the grouping refined petroleum, chemical and pharmaceutical industries declined by 4.0 per cent in this period. Furniture and other manufacturing industry also decreased by 11.4 per cent.

Twelve-month change: higher level of turnover compared to August 2013

Calendar-adjusted figures showed an increase of 4.5 per cent in total manufacturing turnover from August 2013 to August 2014. Both the domestic and export market showed a growth in manufacturing turnover, 3.5 and 6.2 per cent respectively.

A 29.0 per cent rise in turnover for the industry ships, boats and oil platforms as well as a 41.6 per cent rise in machinery and equipment accounted as an important factor for the growth in manufacturing total turnover. Basic metal recorded a positive trend, while the grouping refined petroleum, chemical and pharmaceutical industries edged down 11.8 per cent in this period.

Monthly change: almost unchanged in the euro area, growth in Norway in July 2014

Norwegian manufacturing turnover went up by 2.3 per cent from June to July 2014, according to seasonally-adjusted figures, while manufacturing turnover in the euro area showed a slight increase of 0.2 per cent, according to Eurostat .