Statistics Norway reports less external trade

In February, exports of goods came to NOK 63 billion, 18.4 per cent less than last year. Imports declined 16.4 per cent, and ended at NOK 33.4 billion. The trade surplus in February amounted NOK 7.6 billion less than last February, reports Statistics Norway (SSB).

Photo: www.adressa.no.

According to figures from SSB, the total export value of crude oil, natural gas and condensates came to NOK 38.7 billion. Exports of natural gas climbed 36.9 per cent from February 2008. The low export value level of crude oil in February, below NOK 16 billion, has not been seen since January 2004. The average crude oil price was NOK 305 per barrel in February, compared with NOK 528 last February. The export value of natural gas in January 2009 has been adjusted upward by NOK 3.4 billion.

Low exports of other goods

The export value of goods excluding ships, oil platforms, crude oil, condensates and natural gas came to NOK 24.3 billion in February, compared with NOK 30.3 billion in February 2008. Exports of machinery and transport equipment showed a small increase, ending at NOK 6.1 billion. Manufactured goods on the other hand, declined NOK 2.4 billion. The lower export value for petroleum and petroleum products is mainly due to lower prices.

Less imports of cars

Norway imported 8 000 passenger cars in February, half that of the corresponding month in 2008. The import value of machinery specialised for particular industries went down by NOK 451 million. The main group of manufactured goods decreased NOK 1.7 billion in February. Among crude materials, metalliferous ores and metal scrap reached NOK 1.2 billion, down 50 per cent from February 2008.

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