Decline in external trade in services
Exports of services from Norwegian non-financial enterprises decreased by 3.6 per cent in the 2nd quarter of 2017 compared to the 2nd quarter of 2016. Imports of services decreased by 1.7 per cent in the same period.
However, both exports and imports experienced an increase compared with the 1st quarter of 2017, with exports going up by 7.1 per cent, or NOK 3.5 billion, and imports going up by 10.8 per cent, or NOK 5.9 billion.
Some significant export figures
- The transport and storage industry is still the main contributor to Norwegian service exports, amounting to NOK 25 billion; unchanged compared with the 2nd quarter of 2016.
- Exports of services related to sea and coastal water transport increased by 5.5 per cent, or NOK 1 billion, from the 2nd quarter of 2016.
- The non-Nordic EU countries are still the most important market for exports of services from Norwegian non-financial enterprises. In the 2nd quarter of 2017, services amounting to NOK 18 billion were exported to these countries.
Imports of services – the most significant figures
- Enterprises within the transport and storage industry are also the main contributors when it comes to import of services. The share of total imports ended at 27.1 per cent, equal to NOK 16.4 billion. The mining and quarrying industry imported services for NOK 13.5 billion, equal to 22.4 per cent of total imports of services.
- Business services was the largest group of services imported by Norwegian non-financial enterprises in the 2nd quarter of 2017. This accounted for NOK 12.7 billion, equal to a share of 21.1 per cent of total imports of services.
- Enterprises from the non-Nordic EU countries supply Norwegian non-financial enterprises with 45 per cent of the total value of imports of services, corresponding to NOK 27.1 billion.
Figure 2. Exports of services by region
|EU except Nordic countries||30.5||32.3||34.2||30.8||30.9||34.4||34.1||33.5||32.3||33.9||33.6||35.3||32.3||34|
|North and Central America||15.5||17.2||14.4||20.7||15.6||14.7||14.9||16.1||15.5||15.3||15.9||14||13.6||13.4|
Figure 3. Imports of services by region
|EU except Nordic countries||41.5||46.6||43.8||45.4||41.7||41||44.9||42.2||41.5||40.3||41.8||40.9||44.5||45|
|North and Central America||12.9||10.6||10.7||13.8||15.7||16.3||15||15.5||15.5||18.5||16.5||15.4||14.3||13.2|