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38157
Exports of crude oil decreased
statistikk
2002-10-15T10:00:00.000Z
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, September 2002

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Exports of crude oil decreased

Exports of goods in September, exclusive ships and oil platforms, came to NOK 38.6 billion, down 8 per cent from September last year. Exports of crude oil amounted to NOK 16.6 billion, a decrease of 15.7 per cent. With total imports of NOK 22 billion, the trade surplus was NOK 16.5 billion.

Adjusted for seasonality, the value of exports of crude oil and natural gas decreased by 9.6 per cent from the second to the third quarter. From August to September corresponding figures showed a fall of 4.9 per cent, mainly due to a decline in exports of crude oil of 8.7 million barrels. The oil price increased by NOK 7.64 per barrel.

Seasonally adjusted figures show an increase in exports of traditional goods by 0.6 per cent from August to September and 0.8 per cent from the second to the third quarter. Imports for the two periods increased as well, by 2.5 and 3.7 per cent respectively.

External Trade in Goods, excl. Ships and Oil Platforms. NOK Million
  January-September Change,
per cent 		September Change,
per cent
  2001           2002           2001           2002
Imports  212 006  197 887 -6.7 22 151 22 032 -0.5
Exports  393 921  352 354 -10.6 41 892 38 561 -8.0
Of which            
Crude oil  184 494  148 789 -19.4 19 655 16 575 -15.7
Natural gas 43 405 51 509 18.7 4 574 4 309 -5.8
Condensates 4 863 2 631 -45.9  222  283 27.3
Exports excl. crude oil, natural gas and condensates  161 159  149 424 -7.3 17 441 17 395 -0.3
Trade balance (2-1)  181 915  154 467 -15.1 19 741 16 529 -16.3
Trade balance excl. oil, natural gas and condensates (3-1) -50 847 -48 462 . -4 710 -4 637 .

Less exports and imports of traditional goods

For the period January - September 2002 exports of traditional goods came to NOK 149.4 billion, a fall of NOK 11.7 billion or 7.3 per cent compared with the corresponding period last year. Imports of traditional goods came to NOK 197.9 billion, down by 6.7 per cent. However, the reduction in value from September 2001 to September 2002 was minimal for both imports and exports.

Decline in trade with important trade partners

Imports from and exports to Great Britain amounted to NOK 15.1 billion and 15.8 billion for the period January - September this year. This was a decrease of 11.7 and 16.2 per cent respectively.

Imports and exports from Germany declined by 4.4 per cent and 11 per cent. Trade with the USA went down by 23.3 per cent for imports and 8.2 per cent for exports.

Lower economic growth in many countries together with lower exchange rates has probably caused less demand for Norwegian export products. Due to lower imports the strong value of the Norwegian krone makes us able to import the same amount of goods as earlier to a lower price.

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