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/en/utenriksokonomi/statistikker/muh/maaned
54162
Increased exports and imports
statistikk
2011-11-15T10:00:00.000Z
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 2011

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Increased exports and imports

In October, the trade surplus came to NOK 26.7 billion; a rise of 1.9 per cent from the same period last year. The export growth was mainly due to higher prices of both crude oil and natural gas. Several commodity groups accounted for the increase in imports.

Exports of goods, excluding ships and oil platforms, came to NOK 70.7 billion in October, while imports reached NOK 44.0 billion. Compared to October 2010, the import and export rose by 7.7 and 5.5 per cent respectively.

High crude oil prices - volume down

The total export volume of crude oil in October; 37.2 million barrels, was the lowest recorded this year. The export value amounted to NOK 23.5 billion, up 6 per cent from October last year, due to higher prices. At the same time, the export value fell 12 per cent from September to October this year.

Increased exports of natural gas

The export value of natural gas in October came to NOK 17.8 billion; 9 per cent higher than last year, due to rising prices. The exported volume, on the other hand, fell slightly.

External trade in goods, excl. ships and oil platforms. NOK million
  January-October Change in
per cent 		October Change in
per cent
  2010 2011 2010 2011
1 Imports     369 060      406 618     10.2     40 838     43 995     7.7
2 Exports  635 879  722 111 13.6 67 044 70 698 5.5
Of which            
Crude oil  225 162  268 646 19.3 22 193 23 453 5.7
Natural gas  130 777  148 366 13.4 16 356 17 795 8.8
Condensates 5 484 7 275 32.7  427  919  115.4
3 Exports excl. crude oil, natural gas and condensates  274 456  297 824 8.5 28 069 28 531 1.6
4 Trade balance (2-1)  266 819  315 493 18.2 26 207 26 704 1.9
5 Trade balance excl. oil, natural gas and condensates (3-1) -94 604 -108 794 . -12 769 -15 464 .

More exports of crude materials and mineral products

The export value in October excluding ships, oil platforms, crude oil, condensates and natural gas, totalled NOK 28.5 billion. This was a small rise of 1.6 per cent from October 2010.

Most main commodity groups did however experience a decline. Crude materials and mineral fuels were the two only main groups going up. Among the crude materials, metalliferous ores had the highest growth - up 44 per cent to NOK 476 million. Within the mineral fuels, the export of refined mineral products more than tripled. The exported value of NOK 3.1 billion was still at a monthly average, while it was very low in last October. In addition, liquefied propane and butanes also increased - up 37 per cent, to NOK 1.2 billion.

Exports of machinery and transport equipment sank by NOK 1.0 billion to NOK 4.7 billion. Large machinery types like general industrial machinery, electrical machinery and power generating machinery fell, while exports of machinery specialised for particular industries rose.

Sharp fall in salmon prices

Fish exports came to NOK 5.4 billion, which is a reduction of 6 per cent compared to October last year. The price fall of fresh farmed salmon - from NOK 37 to NOK 23 per kilo - is the main explanation. While the value fell by more than NOK 580 million, the exported volume reached its peak this year at 68 thousand tonnes, up almost 9 thousand tonnes. Other important kinds of fish, such as mackerel and herring, on the other hand experienced rising prices.

Higher imports of machinery and cars

The commodity group including machinery and transport equipment, which are our main import articles, showed an increase of 16 per cent in total, amounting to NOK 16.0 billion. While all types of machinery rose, the imports of telecommunications apparatus and equipment fell by 6 per cent, to NOK 1.6 billion. Passenger cars also showed an upturn of 18 per cent, reaching NOK 2.9 billion.

The import value of manufactured goods and miscellaneous manufactured articles accounted for NOK 6.9 billion and NOK 7.2 billion respectively - up 12 and 7 per cent. Amongst manufactured goods, metals and manufactures of metals showed the sharpest growth, while clothing and professional, scientific controlling instruments took the lead among the manufactured articles.

While food and beverages rose, the imports of inedible crude materials and mineral fuels dropped.

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