38017_not-searchable
/en/utenriksokonomi/statistikker/muh/arkiv
38017
High oil price yields large trade surplus
statistikk
2008-08-15T10:00:00.000Z
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 2008

Variants of the statistics:

Content

Published:

This is an archived release.

Go to latest release

High oil price yields large trade surplus

Exports of goods reached NOK 77.1 billion in July, while imports came to NOK 39.7 billion. The trade surplus in goods hence came to NOK 37.4 billion. As well as in June, high crude oil prices contributed to the trade surplus in July.

In July the total export value of crude oil, natural gas and condensates ended at NOK 47.1 billion. Exported value of crude oil and natural gas came to NOK 33.9 and 12.3 billion respectively. The average crude oil price went up by 55 per cent from July last year to July this year and ended at NOK 704 per barrel, which is the highest price ever registered.. Compared with June figures, the average crude oil price advanced NOK 3 per barrel.

External trade in goods, excl. ships and oil platforms. NOK million
  January-July Change in per cent July Change in per cent
  2007 2008 2007 2008
1 Imports  262 599       279 670 6,5       35 451       39 655 11,9
2 Exports  441 598  541 678 22.7 59 357 77 074 29.9
Of which            
Crude oil  170 148  228 321 34.2 24 784 33 912 36.8
Natural gas 74 385 97 081 30.5 8 804 12 273 39.4
Condensates 3 966 6 686 68.6  631  889 41.0
3 Exports excl. crude oil, natural gas and condensates  193 099  209 590 8.5 25 137 29 999 19.3
4 Trade balance (2-1)  178 998  262 008 46.4 23 905 37 419 56.5
5 Trade balance excl. oil, natural gas and condensates (3-1) -69 501 -70 080 . -10 314 -9 656 .

The export value of goods excluding ships, oil platforms, crude oil, condensates and natural gas reached NOK 30 billion in July, compared with NOK 25.1 billion in July last year. This is an advance of 19.5 per cent. The export value of machinery and transport equipment reached NOK 5.9 billion, a rise of NOK 1.2 billion compared to July last year. Within this commodity group, higher export values for industrial and electrical machinery contributed to the increase. The import value within in this commodity group is supported by industrial machinery and electrical machinery. Furthermore, exports of liquefied propane and butanes rose by NOK 1.1 billion, ending at NOK 2.3 billion.

In July, imports of goods excluding ships and oil platforms came to NOK 39.7 billion, compared with NOK 35.5 billion in July 2008. This corresponds to a 11.5 per cent increase. Several commodity groups contributed to the rise in imports. Among these were manufactured goods, amounting to NOK 6.6 billion, a jump of NOK 972 million. The export value for chemicals rose by NOK 551 million, ending at NOK 3.8 billion.

Tables: