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Export value of crude oil reaches NOK 29 bn

15
Sep '08
Exports of goods reached NOK 77.6 billion in August, while imports came to NOK 36.5 billion. Thereby the trade surplus in goods ended at NOK 41.1 billion. High value on crude oil exports contributed to the trade surplus in August.

In August the total export value of crude oil, and condensates ended at NOK 48.7 billion. Exported value of crude oil came to NOK 37.3 respectively.

The average crude oil price went up from NOK 427 per barrel in August last year, to NOK 619 per barrel August this year, an increase of 45 per cent. Compared with July figures, the average crude oil price declined 12.1 per cent.

The export value of goods excluding ships, oil platforms, crude oil, condensates in August reached NOK 29.0 billion, compared with NOK 26.8 billion in August last year, an increase of 8.0 per cent.

The export values for products such as liquefied propane and butanes, electric current and some chemicals all increased from August 2007.

Furthermore the export value of iron and steel rose by NOK 700 million, to NOK 1.7 billion. The export value of these products was NOK 5.1 billion in August last year.

In August, imports of goods excluding ships and oil platforms came to NOK 36.5 billion, compared with NOK 37.7 billion in August 2007. This is a decline of 3.2 per cent. Several commodity groups showed decline in imports.

Among these was metalliferous ores and metal scrap with an import value of NOK 1.9 billion, down one billion from August 2007. Other groups with reduced import values in August this year were road vehicles and other transport equipment.

Statistics Norway


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