External trade in goods, October 2000

The trade surplus for January to October this year was 179.6 billion kroner. This is almost three times as much as in the same period last year, then the surplus was 61.3 billion. The first ten months this year we have exported goods for 407.8 billion kroner and imported for 228.1 billion.

92 million barrels of crude oil

In October we exported 92 millions barrels of crude oil. An average crude oil price of 287 kroner per barrel, resulted in an export value of 26.3 billion for crude oil. In October last year the average price per barrel was 167 kroner, while the export quantity of crude oil amounted to 75 million barrels. In the first ten months this year we have exported crude oil for 211.5 billion kroner. Last year the figure was 97.1 billion. The considerable growth in value from 1999 is mainly due to increased prices. Average price per barrel the first ten months last year was 125 kroner. Similar figures from this year show a price of 245 kroner. The number of barrels exported has also increased, from 775 million barrels in 1999 to 864 million this year. The value of natural gas export has risen by 36.4 per cent, and so far this year we have exported for 23.3 billion kroner.

Increased exports of metals, fish and paper

In October we exported traditional goods for as much as 19.7 billion kroner. This was an increase of 2.1 billion from October last year. From September this year the increase was 1.2 billion. The export of metals in October was 3.4 billion kroner, up 450 million from the same month last year. Unwrought aluminium contributed the most, with both increased quantity and higher prices. We exported fish for 3.6 billion in October, an increase of 315 million from last year. Paper and paperboard had an export value of 970 million kroner in October, an increase of 175 million from October last year.

Increased imports of machines, metals and clothes

Traditional imports came to 25.1 billion kroner in October, compared with 22.3 billion in the same month last year. This is an increase of 12.8 per cent. Besides, for the first time the import value of traditional goods in one single month passed 25 billion kroner. In the main group machines and transport equipment the import values rose for most of the commodity groups compared with October last year. The largest growth was in equipment for telecommunication and computers as well as electric machines. The import values in the last month, varied from 1.1 to 1.5 billion kroner.

Our imports of iron and steel, plus metal goods increased by 250 and 110 million from October last year. The value of imports for these two products then amounted to 815 and 855 million kroner in October this year. We have imported clothes for 1.2 billion. Compared with October last year the value was 150 million kroner higher.

Seasonally adjusted figures

Adjusted for seasonality, the value of traditional exports shows no change for the three month-period

August to October compared with the period from May to July. On the other hand, looking at exports excluding ships and oil platforms, similar figures show an increase of 8.1 per cent For traditional imports the figures adjusted for seasonality show an increase of 0.4 per cent for the same three month-periods.