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185884
Decline in exports
statistikk
2015-06-16T10:00:00.000Z
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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The external trade statistics describe the development in Norwegian foreign trade, measured in value and quantity. They give information about total figures as well as by country.

External trade in goods, May 2015

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Decline in exports

In May, exports of goods came to NOK 67.3 billion; a decline of 5.5 per cent compared to May 2014. This was due to lower oil prices and a drop in exports of petroleum products. Imports amounted to NOK 45.5 billion; an increase of 0.9 per cent.

External trade in goods1Published 16 June 2015
NOK MillionChange in per centNOK Million - so far this yearChange in per cent - so far this year
May 2015April 2015 - May 2015May 2014 - May 2015May 2015May 2014 - May 2015
1The figures are marked with the symbol *. This is Statistics Norways standard symbol for indicating preliminary figures.
2Due to the data collection method, the preliminary monthly figures published for ships and oil platforms are often incomplete. In retrospect, therefore, the trade in these goods could in some cases lead to major corrections in the figures. Please see tables 2-4 for the impact these figures have on the external trade.
Imports45 505-29.00.9256 56215.8
Ships and oil platforms2185-98.9-47.720 7351 114.0
 
Exports67 2762.8-5.5354 079-11.1
Crude oil17 9413.2-15.982 150-34.7
Natural gas16 0907.6-3.599 623-4.2
Natural gas condensates1 164760.2193.52 624-27.6
Ships and oil platforms230-96.8.2 626-39.1
Mainland exports32 0510.1-2.3167 0554.2
 
The trade balance21 7711 474.2-16.797 517-44.8
The mainland trade balance-13 2699.9-11.2-68 772-15.7

Source: Statistics Norway

Overall, the trade surplus in May ended at NOK 21.8 billion, down 16.7 per cent from May 2014.

Lower income from oil exports

The export value of crude oil totalled NOK 18 billion in May, down 15.9 per cent compared to May last year. The decrease was mainly due to lower oil prices. Average price per barrel was NOK 489; an increase from April last month, but down 25.0 per cent compared to May 2014. A total of 36.7 million barrels were exported, which was the same level as last year. Natural gas exports also dropped, and went down by 3.5 per cent, ending at NOK 16.1 billion.

Drop in exports of petroleum products

Mainland exports reached NOK 32.1 billion and were 2.3 per cent lower than in May 2014. The largest decline was in exports of petroleum products, which went down 41.9 per cent, ending at NOK 3.3 billion. A large decline was also seen in exports of liquefied butane and propane, which totalled NOK 1.2 billion, down 21.1 per cent. 

In the main commodity group machines and transport equipment, exports increased. Particularly in the commodity group other machineries and electric machines, which went up by 35.0 and 27.6 per cent – totalling NOK 2.3 and NOK 1.4 billion respectively. Exports in the main commodity group chemical products also increased, up by 19.7 percent – ending at NOK 4.1 billion. 

Increase in cod exports

Cod pushed up the total export of fish in May and higher prices contributed. Clip fish of Atlantic cod more than doubled and totalled NOK 238 million, while exports of salted cod increased by 57.4 per cent and reached NOK 152 million. Exports of fresh whole cod also went up, while frozen cod went somewhat down. 

High imports of diesel and metalliferous ores

Overall, total imports reached NOK 45.5 billion in May, and were 0.9 per cent higher than May last year. A large increase was seen in imports of petroleum and petroleum products, which went up 29.0 per cent and amounted to NOK 2.8 billion. Imports of diesel made a particular contribution. Imports of metalliferous ores and metal scrap increased by 24.9 per cent and totalled NOK 2 billion. 

In the other direction, imports of goods of metals declined by 29.6 per cent – totalling NOK 2.2 billion. This was due to high imports in May 2014, when oil platform constructions contributed.