54152_not-searchable
/en/utenriksokonomi/statistikker/muh/maaned
54152
Low trade surplus
statistikk
2011-06-15T10:00:00.000Z
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, May 2011

Variants of the statistics:

Content

Published:

This is an archived release.

Go to latest release

Low trade surplus

The trade balance surplus was NOK 24.2 billion1 in May, almost half of the high surplus in April. Closed oil fields caused a low number of exported oil barrels.

The export of goods amounted to NOK 67.4 billion, while total imports ended at NOK 43.2 billion.

Thus the trade surplus was almost the same as in May last year; a relatively low trade surplus.

The exports of crude oil were at quite a normal level, while exports of gas were low and imports in general quite high.

High crude oil price but fewer barrels

The value of crude oil was NOK 24.3 billion in May; more than NOK 5 billion higher than the same month last year. The amount of barrels exported was lower in May this year due to closed oil fields. However the price of a barrel of crude oil is still at a high level, NOK 637, hence the exports of oil remain at a relatively normal level. In the same month last year this price was NOK 478.

Lower exports of gas compared with last year

The export value of natural gas amounted to NOK 10.9 billion; a decrease of almost 22 per cent compared to the corresponding month in 2010. A total of 6.1 billion cubic metres of gas in gaseous state were exported. This is a decline of nearly 2.4 billion cubic metres or 6.5 per cent from May last year and the lowest amount this year.

External trade in goods, excl. ships and oil platforms. NOK million
  January-May Change in
per cent 		May Change in per cent
  2010 2011 2010 2011
1 Imports  174 861     203 443     16,3     35 629     43 202 21,3
2 Exports  321 166  364 534 13.5 59 890 67 359 12.5
Of which            
Crude oil  113 913  138 932 22.0 19 205 24 341 26.7
Natural gas 71 992 72 185 0.3 13 842 10 859 -21.6
Condensates 2 243 3 784 68.7  478  753 57.7
3 Exports excl. crude oil, natural gas and condensates  133 018  149 634 12.5 26 365 31 406 19.1
4 Trade balance (2-1)  146 305  161 091 10.1 24 261 24 157 -0.4
5 Trade balance excl. oil, natural gas and condensates (3-1) -41 843 -53 809 . -9 264 -11 796 .

Growth in imports of several commodity groups

Imports of goods in May, excluding ships and oil platforms, came to NOK 43.2 billion, up almost NOK 7.6 billion - or more than 21 per cent from last year. This is quite a high level of the monthly imports of goods.

All main commodity groups except mineral fuels show an increase, and most of them by around 30 per cent.

Machinery and transport equipment went up by NOK 3.4 billion, or 27 per cent. The main contributor was industrial machinery by almost NOK 1.1 billion. The imports of passenger cars increased by NOK 440 million.

Within the group of crude materials, metalliferous ores increased by NOK 729 million, or 38 per cent. Miscellaneous manufactured articles grew by almost NOK 1.3 billion, corresponding to 27 per cent.

Growth in exports for machinery

The mainland exports came to NOK 31.4 billion in May. This was a rise of more than NOK 5 billion or 19.1 per cent.

The exports of machinery and transport equipment contributed with a growth of NOK 1.7 billion. Exports of electrical machinery were almost doubled, with an increase of NOK 818 million, while machinery specialised for particular industries was up NOK 670 million.

Exports of metals also increased. Iron and steel was up by NOK 326 million and non-ferrous metals by NOK 731 million. Both exports of nickel and aluminium were high in the month of May. Furthermore, exports of fish were up by NOK 255 million, where fresh salmon was NOK 163 million - the price was lower but the quantity higher than last year.

1Corrected 15 June 2011 at 10.20 am

Tables: