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Lower exports
statistikk
2016-11-15T08:00:00.000Z
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, October 2016

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Lower exports

In October goods at a total of NOK 62.1 billion were shipped abroad. This is almost 16 per cent less than the previous year. Imports amounted to NOK 51.7 billion, 3.6 per cent less than October 2015. The trade surplus decreased by almost 50 per cent.

External trade in goods1Published 15 November 2016
NOK MillionChange in per centNOK Million - so far this yearChange in per cent - so far this year
October 2016September 2016 - October 2016October 2015 - October 2016October 2016October 2015 - October 2016
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 1-3 for the impact these figures have on the external trade.
Exports62 0697.1-15.9601 841-14.2
Crude oil17 83619.6-1.4145 615-15.0
Natural gas13 10272.0-32.2126 940-30.3
Natural gas condensates43239.8-5.03 326-27.1
Ships and oil platforms276-66.1-56.64 729-38.5
Mainland exports30 623-12.2-14.4321 231-4.4
Fish9 0586.715.072 19825.0
 
Imports51 708-4.8-3.6502 567-1.6
Ships and oil platforms2803-73.682.512 806-49.4
 
The trade balance10 361183.6-48.699 274-48.1
The mainland trade balance-20 282-23.9-16.1-168 530-13.0

Source: Statistics Norway

So far this year the trade surplus amounts to nearly NOK 100 billion. This is almost 50 per cent lower than the same period last year. The main cause for the fall in trade surplus is lower oil and gas exports, but lower mainland exports have also contributed to the decline. Mainland exports for October fell by 14.4 per cent compared with October last year, and amounted to NOK 30.6 billion in October. 

Lower exports of natural gas despite higher volume

Natural gas exports amounted to NOK 13.1 billion in October. This is a decrease of 32.2 per cent compared with the same month last year, when exports amounted to NOK 19.3 billion. A total of 10.7 billion standard cubic meters of gas in gaseous state were shipped abroad. The fall in exports of natural gas comes despite a volume increase of 6 per cent compared to the corresponding month the previous year. 

Crude oil exports amounted to NOK 17.8 billion in October, a decrease of 1.4 per cent compared to October 2015. A total of 44.6 million barrels of crude oil were exported, which is 2 per cent less than the last year. The average price per barrel of crude oil came to NOK 400 per barrel, which is about NOK 2.5 higher than the same month the previous year. 

Other significant twelve-month changes

  • Imports of petroleum products other than crude oil amounted to NOK 1.7 billion in October. This is 68 per cent more than the previous year.
  • In October the import of motor cars and other motor vehicles rose to a record high of NOK 4.2 billion. More than 20 000 cars and vehicles were imported, the second highest number ever in a single month.
  • Fish at a total of NOK 9.1 billion were shipped abroad in October, an increase of 15 per cent compared to the same month of the previous year. A high salmon price is the main cause of the increase.
  • Export of other transport equipment increased by 36.2 per cent and amounted to NOK 906 million.