Decline in exports from Norway

In May, exports of goods from Norway came to NOK 67.3 billion; a decline of 5.5 per cent compared to May 2014. This was due to lower oil prices and a drop in exports of petroleum products.

Imports amounted to NOK 45.5 billion; an increase of 0.9 per cent.

The export value of crude oil totalled NOK 18 billion in May, down 15.9 per cent compared to May last year. The decrease was mainly due to lower oil prices. Average price per barrel was NOK 489; an increase from April last month, but down 25.0 per cent compared to May 2014. A total of 36.7 million barrels were exported, which was the same level as last year. Natural gas exports also dropped, down by 3.5 per cent, ending at NOK 16.1 billion.

Cod pushed up the total export of fish in May and higher prices contributed. Clip fish of Atlantic cod more than doubled and totalled NOK 238 million, while exports of salted cod increased by 57.4 per cent and reached NOK 152 million. Exports of fresh whole cod also went up, while frozen cod went somewhat down. 

(NRK/Press release)