In June 2023, according to the Norwegian Statistical Office, goods worth NOK 137 billion were exported, which is 31 percent more than in the previous year. less than in the same month last year. The sharp reduction in gas exports is the most important factor behind the decline.
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Exports of goods ended in June 2023 at the level of NOK 137,3 billion, an increase of 1,8 percent. since May, but a decrease of 31,3 percent. since June last year. Historically, exports are still high. Natural gas in particular, but also crude oil, may show lower export values compared to June last year.
– The value of natural gas exports decreased by 67,3 percent. compared to June last year. This is mainly due to the fact that gas prices were exceptionally high last year. Now we see that the price has returned to the level of autumn 2021, says section manager Therese Vestre.
The exchange rate index of the Norwegian currency shows that the krona weakened by 8,6 percent. compared to the same month last year. However, the weakening of the Norwegian krone has a positive effect on the export-oriented industry.
Continental exports strengthened by 10,5 percent to end in June at NOK 62,9 billion. The largest increase was recorded in the value of fish exports, which increased by 19,3 percent. Imports of goods increased by 4,7% in June. and amounted to NOK 93,2 billion.
Lower value of crude oil exports
Crude oil worth NOK 43,1 billion was exported in June, down 9,2 percent from the previous year. in May. However, the value of exports is 8,0% lower than in the previous year. higher than in the previous month, and this is due to the increase in volume in this period by 8,6%.
– In June 2022, the price of crude oil was at a record high. Since then, the price has gradually fallen to a lower level. This results in a drop in the value of oil exports in June, even though the number of barrels produced has increased sharply, says section manager Therese Vestre.
Norwegian currency, dollar…
Good news is that the exchange rate of the Norwegian krone has increased slightly in recent days. This is why people going on vacation they will pay slightly less crowns for their trips abroad. The current average exchange rate of the koruna against the Polish zloty is PLN 0,3938 for 1 NOK and is rising.
We can see that the dollar clearly lost against the euro and on the Polish market for the first time since February 2022 it cost less than PLN 4. The current average exchange rate of the dollar according to Norges Bank is NOK 10,059, and the Euro is NOK 11,248. As you can see, the Norwegian currency has recently strengthened slightly against the Euro, because not so long ago, on May 31, the average rate of the crown was 12 NOK for 1 Euro.
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Source: Statistics Norway
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