In July, Norwegian exports came to NOK 61.7 billion, while imports reached NOK 33.3 billion. This gave a trade surplus of NOK 28.4 billion, NOK 2.9 bill higher than in June, but NOK 1.6 bill lower than July last year.
The increase in trade surplus from June to July this year is explained by higher import figures in the first month. The decline in trade surplus compared with July last year is explained by both higher imports and reduced exports in July this year.
The export value of crude oil in July came to NOK 23.2 billion; only a marginal decline from July last year. However, there was a major difference in the distribution between price and volume. The number of crude oil barrels exported was 48.0 million, compared to 56.5 million in July last year. The price per barrel was on the other hand much higher: NOK 485 in July this year and only NOK 412 in July last year. Compared with June this year, both the price per barrel and the number of barrels exported were somewhat down. Looking at the first seven months this year, there was a fall in the number of barrels exported of 8 per cent compared to January to July last year. A similar comparison for the price per barrel showed an increase of 35 per cent.
The exported value of natural gas in July came to NOK 11.4 billion. This is a 6.5 per cent fall from July last year, due to lower export volume. The exported volume in July also fell compared with June this year.
The export value in July excluding ships, oil platforms, crude oil, condensates and natural gas ended at NOK 26.2 billion. This was only a marginal decrease from July last year.
Exports of chemicals and related products amounted to NOK 3.5 billion. This is an increase of NOK 760 million or 27.5 per cent from July last year.
The fish export rose by NOK 484 million; 14.9 per cent, from July last year, ending at NOK 3.7 billion.
The International Monetary Fund (IMF) has presented its views on the Norwegian economy and Norwegian economic policy, and concludes that the Norwegian economy continues to perform well.(Photo: Finance Minister Sigbjørn Johnsen)..
Secretary General of NATO, Anders Fogh Rasmussen, met with Prime Minister Jens Stoltenberg in Oslo on Wednesday to discuss NATO's future and Norway's involvement in the Ocean Shield Operation.
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The SAS Group has announced that it has signed an agreement to sell 80% of its shares in its domestic airline Widerøe's Flyveselskap AS to a group of Norwegian investors.
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Norwegian energy provider Statoil has reported a first quarter 2013 net operating income of NOK 38.0 billion, compared to NOK 57.9 billion in the first quarter of 2012. Adjusted earnings were NOK 42.4 billion, compared to NOK 59.2 billion in the first quarter of 2012.
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In Pakistan, Norway's Telenor and Tameer Bank have introduced the opportunity to earn interest on savings by using the mobile phone.
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Low-fare airline Norwegian is considering registering its new Dreamliner long distance aircraft in Ireland, in order to cut staff and operating costs, and increase profits.
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Minister of International Development Heikki Holmås says Norway is the first country in the world to review its loans to developing countries, in line with the UN Guiding Principles on foreign debt and human rights.
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Foreign Miinister Espen Barth Eide (photo) says he regrets that Salam Fayyad is resigning as Prime Minister of Palestine.
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Speaking at ILO's regional conference in Oslo, Norwegian Priem Minister Jens Stoltenberg said the crisis in Europe is dramatic. A financial crisis has now turned into a jobs crisis...
Foreign and domestic demand, excluding petroleum activities, grew modestly in the 4th quarter of 2012. The gross domestic product (GDP) of mainland Norway was up 0.3 per cent in the 4th quarter.
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The return on the Norwegian Government Pension Fund Global, also known as the National Oil Fund, was in 2012 13.4 percent, the fund's second best performance ever.(Photo: Fund manager Yngve Slyngstad)
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Swissport International Ltd. and Scandinavian Airline Systems (SAS) have announced they have signed a Letter of Intent, with the aim for Swissport to take over SAS ground handling services.
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