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148059
Increase in export volume
statistikk
2015-01-20T10:00:00.000Z
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

External trade in goods, indices of volume and price, Q4 2014

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Increase in export volume

Norwegian export volume increased by 15 per cent from the third to the fourth quarter of 2014, mainly due to higher exports of natural gas. Prices of Norwegian exports fell during 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 20 January 2015
Volume indexPrice index
ExportsImportsExportsImports
1Groups according to the Standard International Trade Classification (SITC-Rev. 4).
4th quarter 2014 / 3rd quarter 2014
Goods excl. ships and oil platforms15.0-0.2-2.63.4
Exports excl. crude oil and natural gas10.8.0.0.
Food, beverages and tobacco22.62.75.44.3
Crude materials except fuels18.83.42.32.2
Fuels16.3-11.4-5.9-11.5
Manufactured goods except food, beverages and tobacco8.50.23.54.5

Source: Statistics Norway

The rise in export volumes was mainly due to a 37.5 per cent increase in the export of natural gas, as well as higher exports of petroleum and petroleum products. Excluding crude oil and natural gas, the export volume increased by 10.8 per cent.

The export volume of machinery and transport equipment increased by 13 per cent, while exported volumes of food and live animals increased by 22.9 per cent. Within the latter group, the export volume increased mainly within fish and fish products.

Compared to the fourth quarter of 2013, the export volume increased by 8.9 per cent in the fourth quarter of 2014. The export volume rose within every product group in this period, except within miscellaneous manufactured articles and manufactured goods.

Lower export prices

From the third to the fourth quarter of 2014, prices of Norwegian exports fell by 2.6 per cent. This was the fourth consecutive quarter with a price reduction. The reduction in prices was caused by lower prices within the product group mineral fuels, lubricants and electricity, in which prices fell by 5.9 per cent.

From the fourth quarter of 2013 to the fourth quarter of 2014, the export prices fell by 11.9 per cent, mainly due to lower prices within energy products as well as crude materials.

Decrease in import volume

From the third to the fourth quarter of 2014, the total imported volume fell by 0.2 per cent. The volume of mineral fuels, lubricants and related materials fell by 11.4 per cent, mainly due to petroleum and petroleum products. Other commodity groups with a reduction in imported volume was miscellaneous manufactured articles, mainly due to a reduction in imported volumes of articles such as apparel and accessories, as well as footwear, where the import volume fell by 27.5 and 45.5 per cent respectively. The import volume of manufactured goods decreased by 6.2 per cent in the same period.

From the fourth quarter of 2013 to the fourth quarter of 2014, the imported volume increased by 0.4 per cent.

Higher import prices

Prices of Norwegian imports rose by 3.4 per cent from the third to the fourth quarter of 2014, mainly due to higher prices within machinery and transport equipment, of 3.8 per cent.

Prices on imported food rose by 4.4 per cent, where vegetables and fruit had the strongest influence. Prices on chemicals increased by 4.9 per cent during the same period.

Higher import prices can be explained by the continuing weakening of the Norwegian krone compared with foreign currency.

From the fourth quarter of 2013 to the fourth quarter of 2014, import prices increased by 5.4 per cent, mainly due to higher prices within machinery and transport equipment.