External trade in goods, indices of volume and price, Q1 2006

The export prices of goods excluding ships and oil platforms have been increasing since the third quarter of 2003. The export prices of fuels have contributed the most to the strong rise, and the increase was 33.5 per cent from the first quarter in 2005. An export price for crude oil of more than NOK 400 per barrel in all the three first months this year made a considerable contribution to the rise last quarter. Export prices of food such as dairy and eggs as well as fish and preparations thereof also increased and went up 10.1 and 11.6 per cent respectively.

Export prices of goods excluding ships and oil platforms increased by 4.2 per cent compared with the fourth quarter of 2005. Most of the increase was due to increased fuel prices.

In the first quarter of 2006 the export prices of goods excluding crude oil, condensates, natural gas, ships and oil platforms increased by 5.3 per cent compared with the fourth quarter in 2005. Through all the quarters in 2005 these prices were rising, and the increase from the first quarter in 2005 to the first quarter this year was 12.1 per cent. For metals except iron and steel the rise was 21.6 per cent

Higher exports of crude materials

The export volume of goods excluding crude oil, condensates, natural gas, ships and oil platforms increased by 8.8 per cent from the first quarter of 2005 to the first quarter in 2006. There were higher exports of crude materials such as wood, lumber and cork, with an increase of 14.9 per cent, and pulp and waste paper, with an increase of 4.7 per cent. Adjusted for seasonality, figures show an increase of 0.7 per cent from the first quarter of 2006 compared with last quarter of 2005.

The export volume of goods excluding crude oil, condensates, natural gas, ships and oil platforms decreased by 1.8 per cent in the first quarter of 2006 compared with the fourth quarter of 2005. Less export of fish explains most of the decrease.

Increased import prices

From the first quarter in 2005 to the first quarter in 2006 import prices of goods excluding ships and oil platforms increased by 2.4 per cent. Prices are higher on fuels such as petroleum and petroleum products as well as electric current.

Import prices of goods excluding ships and oil platforms increased by 2.1 per cent from the fourth quarter of 2005 to the first quarter this year. The import prices were higher for food beverages and tobacco, fuels and manufactured goods, while crude materials showed a minor decrease.

Increased imports of metals

The import volume of goods excluding ships and oil platforms increased by 17.8 percent in the first quarter of 2006 compared with the same quarter in 2005. Imports of iron and steel as well as metal goods were higher, up 12.6 per cent and 65.5 per cent respectively. Adjusted for seasonality figures show higher import volume from the fourth quarter in 2006 as well, up 2.6 per cent. Compared with the fourth quarter of 2005 this is a larger increase.