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38113
High exports in July
statistikk
2004-08-16T10:00:00.000Z
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, July 2004

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High exports in July

Norwegian exports came to NOK 47.1 billion in July. This is an increase of 27.6 per cent compared with July last year. July imports came to NOK 26.0 billion, an increase of 18.7 per cent compared with July last year. The trade surplus of NOK 21.1 billion is the highest since December 2001.

Imports of traditional commodities do not include ships and oil platforms. Exports of traditional commodities do not include crude oil, natural gas and condensates, ships and oil platforms.

Exports of commodities were slightly lower in July than in March, which is the best month since January 2001 in terms of export value. The high export value in July comes mainly as a result of the high crude oil prices. Exports of traditional commodities came to NOK 16.5 billion, up 6.6 per cent from July last year. The relatively high import value of traditional commodities, at NOK 26.0 billion, is still lower than the import values for June and March.

External Trade in Goods, excl. Ships and Oil Platforms. NOK million
  January-July Change in
per cent 		July Change in
per cent
  2003 2004 2003 2004
Imports  157 113       181 220       15.3       21 897       26 000       18.7
Exports  270 624  310 937 14.9 36 940 47 118 27.6
Of which            
Crude oil  115 275  138 940 20.5 15 808 25 218 59.5
Natural gas 35 482 40 735 14.8 4 958 4 751 -4.2
Condensates 5 876 5 658 -3.7  714  663 -7.2
Exports excl. crude oil, natural gas and condensates  113 991  125 605 10.2 15 461 16 486 6.6
Trade balance (2-1)  113 511  129 717 14.3 15 043 21 118 40.4
Trade balance excl. oil, natural gas and condensates (3-1) -43 122 -55 615 . -6 437 -9 514 .

Highest export value for crude oil since 2000

Exports of crude oil accounted for NOK 25.2 billion, or 53.5 per cent, of total exports, which were NOK 47.1 billion. Both in terms of volume and value the July export is the highest so far in 2004. The United Kingdom is still the main country of destination for crude oil and received one third of July's export.

Seasonally adjusted figures

Seasonally adjusted figures for petroleum export in the three last months show a 6.3 per cent increase compared with the period February to April. In the same period, exports of traditional commodities show a 1.1 per cent growth whereas imports of traditional commodities show an increase of 7.4 per cent.

Traditional goods

Exports of traditional commodities increased by NOK 1 billion from NOK 15.5 billion in July last year. The commodity groups with the largest changes were iron and steel (NOK 329 million, + 61.9 per cent), refined mineral products (NOK 260 million, + 22.7 per cent) and fish (NOK 246 million, + 16.0 per cent). In addition, liquefied propane and butane and general industrial machinery increased.

Imports of traditional commodities in July came to NOK 26.0 billion compared with NOK 21.9 billion in July last year, up 18.7 per cent. The largest changes were iron and steel (NOK 754 million, + 114.1 per cent), road vehicles (NOK 569 million, + 27.0 per cent), manufactures of metals (NOK 227 million, + 28.6 per cent). Amongst machinery, telecommunication apparatus, power generating machinery and electrical machinery showed the highest increase.

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