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/en/utenriksokonomi/statistikker/muh/arkiv
38159
Low exports and imports
statistikk
2002-09-16T10:00:00.000Z
External economy
en
muh, External trade in goods, import, export, balance of trade (export minus import), mainland exports, imports excluding ships and oil platforms, trade ( between countries, continents and trade regions), international product groups (for example hs, sitc and bec), product groups (for example food, crude oil and metals)External trade , External economy
false

External trade in goods, August 2002

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Low exports and imports

The export value for August amounted to NOK 37 billion - down 8.9 per cent compared with August last year. Imports declined by 10.5 per cent to NOK 20.4 billion. The changes reflect the strong NOK exchange rates, weak prices in foreign markets, but also seasonal aspects.

The current trends in external trade reflect weak prices in foreign markets for important commodities in Norwegian exports - prices on pulp and paper, metals, chemical products etc. The NOK is still strong compared with important currencies (NOK, EURO). From July to August the NOK/USD rate increased slightly, but the August rate is still 15 per cent lower than the August level last year.

Reduced exports - crude oil and natural gas

In August 87.5 million barrels of crude oil were exported - slightly down from 88.6 million barrels in July. The crude oil price (Brent Blend) was 26.5 USD/barrel as an average for August - an increase of 2.9 per cent compared with July and up 2.7 per cent compared with August last year. The average crude oil price measured in NOK was 202.60 per barrel. The export value for crude oil was NOK 17.7 billion - down 7 per cent compared with August last year. The export value for crude oil, natural gas and condensates amounted to 22.3 billion in August.

Exports of traditional commodities down

Exports of traditional commodities came to NOK 14.7 billion in August - a decline of 9.5 per cent compared with August last year. In addition to the exchange rate effects and the price affects, the seasonal aspects contribute to the current trends. Seasonally adjusted figures show a decline of 3.1 per cent compared with last month - most likely due to vacation patterns in many European countries. Figures for the last two 3-month periods - June-August and March-May - show only minor changes in the current trends. It should be added that the August export value level is well below last year's level.

Decline in imports

The value of imports came to NOK 20.4 billion - a decline of 10.5 per cent compared with August last year. Seasonal aspects are also found in imports. Seasonally adjusted figures show a decline of 3.1 per cent from July while the 3-month period figures show an increase of 2.2 per cent.

External Trade excl. ships and oil platforms
  January-August Change in per cent August Change in per cent
   2001     2002     2001     2002
Imports  189 855  175 821 -7.4 22 801 20 416 -10.5
Exports  352 029  313 372 -11.0 40 632 37 030 -8.9
Of which            
Crude oil  164 839  132 215 -19.8 19 189 17 731 -7.6
Natural gas 38 831 47 200 21.6 4 713 4 293 -8.9
Condensates 4 641 2 348 -49.4  511  325 -36.4
Exports excl. crude oil, natural gas and condensates  143 718  131 609 -8.4 16 219 14 681 -9.5
Trade balance (2-1)  162 174  137 551 -15.2 17 830 16 614 -6.8
Trade balance excl. oil, natural gas and condensates (3-1) -46 138 -44 212 . -6 583 -5 735 .

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