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Record high imports in Norway

In September, imports of goods came to NOK 46 billion, while exports reached NOK 72.7 billion. The trade surplus in goods came to NOK 26.7 billion.

The import value of goods in September climbed 32.1 per cent compared with the value in the corresponding month last year. The high import value in September is partly due to the import of a frigate to the Norwegian Defence Forces valued at NOK 3.3 billion.

In September, the total export value of crude oil, natural gas and condensates came to NOK 39.8 billion. Export value of crude oil alone was NOK 26.9 billion, and the value of exports of natural gas came to NOK 11.9 billion. The average crude oil price in September 2007 increased from NOK 442 per barrel, to NOK 570 September this year. Compared with August figures, the average crude oil price declined 7.9 per cent, to NOK 570 in September. Both lower quantum and crude oil prices resulted in lower earnings in September.

The export value of natural gas in 2008 has been adjusted upward by NOK 14.1 billion in the period January to August.

The export value of goods excluding ships, oil platforms, crude oil, condensates and natural gas came to NOK 32.9 billion in September. In the corresponding month in 2007, the export value ended at NOK 25.5 billion. The high export of machinery and transport equipment contributed to the growth in September and reached NOK 7.6 billion, up NOK 2.5 billion from September last year. Within this group, general industrial machinery climbed by NOK 1.4 billion, ending at NOK 2.6 billion in September. Also exports of chemicals, manufactured goods and fish increased in September by NOK 849, 605 and 599 million respectively.

In September, imports of goods, excluding ships and oil platforms, reached NOK 46 billion. Corresponding figures for September last year ended at NOK 34.8 billion. Imports of machinery and transport equipment contributed to the rise in imports this September ending at NOK 18.7 billion, up NOK 5.5 billion from September last year. Also contributing to the increase in September, chemicals, manufactured goods and miscellaneous manufactured goods went up respectively NOK 1.2 billion, 995 and 876 million.