Turnover in oil and gas, manufacturing, mining and electricity supply, February 2015

The index value for turnover in manufacturing was 149.4 (2005=100) in the period December 2014 to February 2015, compared to 149.9 in the previous three-month period, according to seasonally-adjusted figures.

Three-month change: slight decline in manufacturing turnover

Seasonally-adjusted figures showed that the total turnover in Norwegian manufacturing was down by 0.3 per cent from December 2014 to February 2015 compared to the previous three-month period.

The grouping refined petroleum products, and chemical and pharmaceutical products had a strong decrease of 8.5 per cent from December 2014 to February 2015, compared to the previous three-month period. Lower prices on exported petroleum products contributed to this development. The reduction in manufacturing was further enhanced by a fall in building of ships, boats and oil platforms industry and fabricated metal products industry, with 7.2 and 6.6 per cent respectively.

On the other hand, machinery and equipment, the basic metal industry, and computer and electrical equipment showed marked growth. In addition to food products with a 1.6 per cent growth, these industries offset the reduction in total turnover in this period.

Monthly change: growth from January to February 2015

Total Norwegian manufacturing turnover went up 4.0 per cent from January to February 2015, according to seasonally-adjusted figures. While the domestic market recorded an increase of 17.7 per cent, the export market index showed a negative trend, by 7.2 per cent. Most of the industries showed a positive trend from January to February 2015.

Building of ships, boats and oil platforms industry contributed strongly to the overall increase in manufacturing turnover, which rose 25.3 per cent, mainly due to several large deliveries among a few leading suppliers. This was followed by a solid increase in the grouping refined petroleum, chemical and pharmaceutical industries as well as machinery and equipment, with 6.6 and 5.8 per cent respectively.

On the contrary, food products decreased by 2.9 per cent, which partially offset the upward trend in the total turnover.

Twelve-month change: refined petroleum, chemical and pharmaceutical industries went down

Calendar-adjusted figures showed a slight decrease of 0.5 per cent in total manufacturing turnover in February 2015 compared to February 2014. While the domestic market enjoyed a 4.9 per cent growth, the export market faced a 7.8 per cent decline.

The biggest contributor to pulling down total manufacturing turnover was the grouping refined petroleum, chemical and pharmaceutical industries, which decreased by 16.9 per cent. The fabricated metal industry, building of ships, boats and oil platforms industry and repair, installation of machinery also recorded a negative trend.

Despite the reduction in total turnover, machinery and equipment, as well as basic metal edged up considerably, by 16.1 and 20.0 per cent respectively. Food products also recorded a growth of 3.6 per cent during the last twelve months.

Monthly change: fall in Norway, slight rise in the euro area in January 2015

Norwegian manufacturing turnover went down by 3.1 per cent from December 2014 to January 2015, according to seasonally-adjusted figures. Manufacturing turnover in the euro area faced a slight increase of 0.3 per cent according to Eurostat.