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38035
Imports reached new high in October
statistikk
2007-11-15T10:00:00.000Z
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
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External trade in goods, October 2007

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Imports reached new high in October

Total imports in October came to NOK 48.1 billion, up 20.3 per cent on October last year. Total exports amounted to NOK 71.7 billion, resulting in a trade surplus of NOK 23.6 billion.

Total imports of goods excluding ships and oil platforms came to NOK 48.1 billion, NOK 8.1 billion more than in October last year. The high import value is partly due to the import of a frigate to the Norwegian Defence Forces valued at NOK 3.3 billion. If this is not included, the import value ended at NOK 44.8 billion, the highest ever recorded and 12.0 per cent higher than in October 2006.

The high import value was also explained by a growth in metalliferous ores and metal scrap, which rose from NOK 2.5 billion in October 2006 to NOK 2.9 billion in 2007. Imports of manufactured goods ended at NOK 8.4 billion, 21.5 per cent higher than last year.

External trade in goods, excl. ships and oil platforms. NOK million
  January-October Change in
    per cent 		October Change in
    per cent
  2006 2007 2006 2007
1 Imports      329 516      382 881 16.2     39 983     48 117 20.3
2 Exports  645 835  656 456 1.6 67 565 71 739 6.2
Of which            
Crude oil  263 247  251 477 -4.5 25 745 27 104 5.2
Natural gas  117 308  123 527 5.3 11 789 13 969 18.5
Condensates 16 897 5 860 -65.3 1 409  324 -77.0
3 Exports excl. crude oil, natural gas and condensates  248 383  275 592 11.0 28 621 30 342 6.0
4 Trade balance (2-1)  316 318  273 575 -13.5 27 581 23 622 -14.4
5 Trade balance excl. oil, natural gas and condensates (3-1)    -81 134 -107 289 . -11 362 -17 774 .

Increased export of crude oil

Crude oil, natural gas and condensates accounted for 57.7 per cent of the export value in October. Exports of crude oil alone amounted to NOK 27.1 billion, 5.2 per cent more than in October last year. The average price of crude oil rose from NOK 385 to NOK 454 per barrel. Exports of natural gas came to NOK 14.0 billion, an increase of 18.5 per cent. Note that as of October this figure also includes liquefied natural gas (LNG).

The export value of goods excluding ships, oil platforms, crude oil and condensates came to NOK 30.3 billion in October, up NOK 1.7 billion, or 6.0 per cent, from the corresponding month last year.

Compared to October 2006, exports of machinery and transport equipment rose by 16.0 per cent, or NOK 869 million. This was mainly explained by an increase in exports of electrical machinery and other transport equipment of NOK 251 and NOK 413 million respectively.

Exports of iron and steel came to NOK 1.2 billion, a 27.3 per cent rise from October last year. Non-ferrous metals saw a decrease in exports of NOK 344 million, ending at NOK 5.0 billion.

Seasonally adjusted figures

Seasonally adjusted figures for imports excluding ships and oil platforms show a 3.3 per cent growth in the period August to October compared with the previous three-month period. Corresponding figures show a 13.4 per cent increase from September to October this year.

Adjusted for seasonality, the export value excluding ships, oil platforms, crude oil, natural gas and condensates fell by 8 per cent from the period August to October compared with the May to July period. From September to October the increase in exports was 2.4 per cent.

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