38089_not-searchable
/en/utenriksokonomi/statistikker/muh/arkiv
38089
Export value of crude oil highest ever
statistikk
2005-08-15T10:00:00.000Z
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, July 2005

Variants of the statistics:

Content

Published:

This is an archived release.

Go to latest release

Export value of crude oil highest ever

Exports of goods came to NOK 53.6 billion in July 2005, and imports of goods came to NOK 28.4 billion. The Norwegian trade surplus was NOK 25.1 billion, an increase of 19.5 per cent compared to July last year.

In July, the total export value of crude oil, natural gas and condensates came to NOK 35.4 billion, an increase of NOK 4.7 billion compared with July last year. The export value of crude oil came to NOK 27.7 billion, an increase of 12.6 per cent. The crude oil price averaged NOK 382 per barrel, compared with NOK 262 per barrel in July last year.

External trade in goods, excl. ships and oil platforms. NOK million
  January-July Change in per cent July Change in per cent
  2004 2005 2004 2005
1 Imports  181 104       196 420 8.5        25 908         28 446 9.8
2 Exports  310 010  362 840 17.0 46 945 53 582 14.1
Of which            
Crude oil  135 910  160 976 18.4 24 555 27 659 12.6
Natural gas 42 766 54 672 27.8 5 507 6 802 23.5
Condensates 5 835 7 549 29.4  663  966 45.7
3 Exports excl. crude oil, natural gas and condensates  125 499  139 643 11.3 16 220 18 155 11.9
4 Trade balance (2-1)  128 906  166 420 29.1 21 038 25 136 19.5
5 Trade balance excl. oil, natural gas and condensates (3-1) -55 605 -56 778 . -9 687 -10 291 .

Seasonally adjusted figures: Increase in imports and exports

Adjusted for seasonality, the export value of crude oil, natural gas and condensates, for the period May to July, increased by 4.9 per cent compared with the February to April period. Similar figures for traditional exports and imports show an increase of 1.3 and 8.6 per cent respectively.

Increase in exports of refined mineral products, non-ferrous metals and fish

The export value of traditional goods was NOK 18.2 billion in July, compared with NOK 16.2 billion in July last year, an increase of 11.9 per cent. The export value of refined mineral products increased by NOK 812 million, or 58.2 per cent. The export value of non-ferrous metals increased by NOK 192 million, or 7.6 per cent, while iron and steel decreased by NOK 200 million, or 23 per cent. The export value of fish increased by NOK 198 million, or 11.7 per cent.

Increase in imports of industrial machinery and cars

In July, imports of traditional goods amounted to NOK 28.4 billion, compared with NOK 25.9 billion in July 2004, an increase of 9.8 per cent. This development was mainly due to an increase in the commodity group general industrial machinery and equipment, which tripled its import value compared to July last year. One of the main reasons was investment in the gas processing industry. The import value of cars increased by 5.8 per cent. The commodity groups iron and steel, petroleum products, and telecommunication equipment decreased by 44.3 per cent, 15.1 per cent and 9.9 per cent respectively.

Increase in import from Asia

During the period January to July 2005, China, Japan and South Korea have expanded their total share of the Norwegian import by 18.2, 15.3 and 31.3 per cent respectively compared with January to July last year. China, with at total share of 5 per cent, is Norway's fifth largest trading partner.

Tables: