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Continued decline in export prices
statistikk
2014-10-15T10:00:00.000Z
External economy;External economy
en
uhvp, External trade in goods, indices of volume and price, import, export, price trends, volume development, product groups (for example food, raw materials, fuel), areas of application (for example energy goods, building materials, consumables)Balance of payments, External trade , External economy
false
The volume and price indices for import and export of goods. The volume of Norwegian exports rose by 1.9 per cent from the second to the third quarter.

External trade in goods, indices of volume and price, Q3 2014

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Continued decline in export prices

Prices of Norwegian exports fell by 2.3 per cent from the second to the third quarter of 2014, mainly due to lower prices of natural gas and petroleum products. Export volume increased by 1.9 per cent in the same period.

Indices of volume and price for external trade in goods, excl. ships and oil platforms. Change in per cent from previous quarter1Published 15 October 2014
Volume indexPrice index
ExportsImportsExportsImports
1Groups according to the Standard International Trade Classification (SITC-Rev. 4).
3rd quarter 2014 / 2nd quarter 2014
Goods excl. ships and oil platforms1.93.1-2.31.2
Exports excl. crude oil and natural gas0.1.0.6.
Food, beverages and tobacco6.6-0.3-5.61.9
Crude materials except fuels-9.7-3.1-0.24.8
Fuels2.932.7-3.82.1
Manufactured goods except food, beverages and tobacco-1.02.12.70.8

Source: Statistics Norway

The volume and price indices for external trade in goods showed that the volume of Norwegian exports was 1.9 per cent higher in the third quarter this year than in the second. The rise in volume is mainly due to higher exports of petroleum and petroleum products, while lower exports of natural gas dampened the rise in the total export volume. Within the group machinery and transport equipment, the export volume increased by 3.9 per cent.

Compared with the third quarter last year, the export volume had a slight increase. Exports of food rose by 11.9 per cent during this period, while lower exports of natural gas and petroleum products pulled the volume index down.

Lower export prices

Prices of Norwegian exports fell by 2.3 per cent from the second to the third quarter of 2014. Excluding crude oil and natural gas, prices had a small increase. The overall decrease in the export prices was mainly due to a 3.8 per cent reduction in prices within mineral fuels, lubricants and related materials. Food prices fell by 5.6 per cent in the same period.

Compared with the third quarter of 2013, the export prices decreased by 4.4 per cent. This was mainly due to lower prices within mineral fuels, lubricants and related materials.

Increased import volume

From the second to the third quarter of 2014, the total imported volume increased by 3.1 per cent. The volume of machinery and transport equipment rose by 0.8 per cent, while the import volume of miscellaneous manufactured articles increased by 16.3 per cent due to a higher volume of articles of apparel and accessories. The import volume within mineral fuels, lubricants and related materials increased by 32.7 per cent.

Compared to the same quarter last year, the import volume increased by 0.8 per cent, mainly due to a higher import volume within machinery and transport equipment of 4.3 per cent.

Higher import prices

Prices of Norwegian imports rose by 1.2 per cent from the second to the third quarter of 2014, mainly due to higher prices within machinery and transport equipment as well as 'crude materials, inedible' except fuels.

Compared to the third quarter of 2013, the import prices increased by 5 per cent, where 'crude materials, inedible' played a major role in bringing the index up.