External trade in goods, March 2004

Imports and exports increased in March

The value of the March imports reached an extraordinary high value, up 25.1 per cent from March 2003. The traditional exports, meaning that crude oil and natural gas from the Continental Shelf is excluded, also increased remarkably with 30.2 per cent and stopped at NOK 21.3 billion value. Since the exports of crude oil, natural gas and condensates about equal the March 2003 value, total exports show a less up with a 12.2 per cent increase. Crude oil was 6.3 per cent up, but a decline for natural gas of 4.4 per cent and condensate of 57 per cent even out the value of Shelf products this month.

Traditional goods

The March exports of traditional goods came to NOK 4.9 billion more compared with March 2003. More than two billion of this increase comes from manufactured goods. Paper & paperboard and iron and steel contributed with half a billion. The biggest sales, however, come from non-ferrous metals, especially aluminium. Primary aluminium alloys alone reached NOK 1.66 billion value in March, compared with 0.9 billion in March last year. Both the quantities and the price have increased.

The export value of mineral oil products from the mainland increased by NOK 1.5 billion. For chemicals the increase is NOK 0.55 billion and for fish and fish products 0.24 billion. Of the total traditional exports on NOK 21.3 billion, manufactured goods made 29.1 per cent, machinery and transport equipment 18.1 per cent, chemicals 12.7 per cent and fish/fish products 12.1 per cent.

High values for imports

The March import value increased by 6.1 billion compared with March 2003. A decline is found only for energy-related products. Imports of electric current were NOK 325 million lower and for crude oil and mineral oil products NOK 155 million lower.

Imports of machinery and transport equipment increased by NOK 2.1 billion, of which cars contributed most by NOK 0.69 billion up from March 2003. Manufactured goods increased by NOK 1.6 billion more and chemicals by NOK 0.59 billion. In March 2004 the imports of chemicals amounted NOK 2.96 billion, while total exports of chemicals valued NOK 2.71 billion.

Seasonally adjusted figures, more moderate increase

Seasonally adjusted figures for the 3-month period January-March for exports of traditional goods show an increase of 4.4 per cent compared with the previous three months. Traditional imports increased by 3.8 per cent for the corresponding periods.

Tables:

• Table 1 Imports of traditional commodities in March and January to March 2003 and 2004. Preliminary figures. NOK million
• Table 2 Exports of commodities, ships and oil platforms excluded, in March and January-March. 2003 and 2004. Preliminary figures. NOK million
• Table 3 Trade with countries and regional groups of countries. Traditional commodities. January-March. 2003 and 2004. Preliminary figures. NOK million