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199110
Lower export and import volumes
statistikk
2015-05-15T10:00:00.000Z
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 fell by 4.3 per cent from Q4 2014 to Q1 2015.

External trade in goods, indices of volume and price, Q1 2015

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Lower export and import volumes

The volume of both exports and imports fell from the fourth quarter of 2014 to the first quarter of 2015. A lower volume of machinery and transport equipment contributed to the decrease in the import volume, while the export volume fell mainly due to lower exports of energy products.

Indices of volume and price for external trade in goods, excl. ships and oil platforms. Change in per cent from previous quarter1Published 15 May 2015
Volume indexPrice index
ExportsImportsExportsImports
1Groups according to the Standard International Trade Classification (SITC-Rev. 4).
1st quarter 2015 / 4th quarter 2014
Goods excl. ships and oil platforms-4.3-2.3-1.61.8
Exports excl. crude oil and natural gas-1.4.1.5.
Food, beverages and tobacco-21.4-8.28.74.3
Crude materials except fuels-4.40.24.44.4
Fuels-3.5-1.4-6.6-9.3
Manufactured goods except food, beverages and tobacco-0.2-1.96.71.9

Source: Statistics Norway

The volume of Norwegian exports fell by 4.3 per cent from the fourth quarter of 2014 to the first quarter of 2015. This was mainly caused by lower exports within the group mineral fuels, lubricants and related materials. Petroleum and petroleum products as well as natural gas sent out of the country saw a drop during this period.

The exported volume fell within every product group, with the exception of chemicals and manufactured goods, where a higher volume dampened the total volume reduction in the export market.

From the first quarter of 2014 to the first quarter of 2015, the export volume rose by 0.4 per cent.

Lower export prices

From the fourth quarter of 2014 to the first quarter of 2015, export prices fell by 1.6 per cent, mainly due to lower prices on petroleum and petroleum products. Higher prices within all other product groups, except within beverages and tobacco, curbed the overall price reduction on export prices. The largest contribution to the price rise was from machinery and transport equipment, where prices increased by 9 per cent.

From the first quarter of 2014 to the first quarter of 2015, export prices fell by 12.7 per cent. This was mainly caused by lower prices on energy products. Prises on petroleum and petroleum products fell by 35.7 per cent, while prices on natural gas went down 10.8 per cent.

Continued reduction in import volume

From the fourth quarter of 2014 to the first quarter of 2015, the imported volume fell by 2.3 per cent, mainly due to a 7.3 per cent reduction in the imported volume of machinery and transport equipment.

The import volume within miscellaneous manufactured articles increased by 6.7 per cent, and contributed strongly to dampen the total reduction in the import volume. Within this product group, clothing and footwear played an important role in bringing the import volume up. It is not unusual that imports of these goods increase sharply between the fourth and the first quarters.

From the first quarter of 2014 to the first quarter of 2015 the import volume increased by 3.8 per cent.

Fourth consecutive quarter with higher import prices

From the fourth quarter of 2014 to the first quarter of 2015, import prices increased by 1.8 per cent. Apart from lower prices within the group mineral fuels, lubricants and related materials, prices rose in all product groups.

Food prices rose by 4.6 per cent, where prices increased within all subgroups except for sugars, sugar preparations and honey.

Prices within machinery and transport equipment increased by 2.6 per cent. Within manufactured goods, the price increase of 2.1 per cent was mainly due to higher prices on iron and steel.

From the first quarter of 2014 to the first quarter of 2015, import prices increased by 5.3 per cent, mainly due to higher prices within machinery and transport equipment.