Norway’s trade with major ASEAN countries shrank in Q1/2003

Norway’s trade of traditional commodities (all commodities excluding ships and oil platforms, for exports also excluding crude oil, natural gas and condensates) with Indonesia, Malaysia, Singapore and Thailand in the first quarter 2003 shrank as compared to the same quarter yesteryear. Imports from Thailand however grew by 8.6 per cent.
      In the first quarter 2003, Norway’s imports from Thailand totalled NOK 268.5 million, compared to NOK 247.3 million recorded in the first quarter 2002. The country’s total exports to Thailand during the period was valued at NOK 124.8 million, a significant decrease of 31.4 per cent from NOK 189.5 million in the same period a year earlier.
      Norway’s imports from Indonesia fell 12.7 per cent from NOK 179.0 million in the first quarter a year earlier to NOK 156.3 million this year. Exports to Indonesia also shrank, falling 8.7 per cent from NOK 66.7 million to NOK 60.9 million.
      With Malaysia, Norway recorded 8.3 per cent fall in imports during the latest quarter. The total value was NOK 339.9 million, compared to NOK 370.6 million in the corresponding quarter of 2002. Exports from Norway to the country meanwhile decreased to NOK 91.7 million, 12.0 per cent down from NOK 104.2 million in the first quarter last year.
      A decrease was also seen in imports from the Singapore while export to the country grew slightly over the corresponding quarter last year. In the first quarter of 2003, Norway’s imports from Singapore totalled NOK 190.2 million, falling 9.7 per cent from NOK 210.7 million in the first quarter a year before. Exports to Singapore increased from NOK 589.9 million to NOK 597.3 million, a small growth of 1.3 per cent.
      Norway’s total imports in March this year amounted to NOK 24.1 billion, up 3.0 billion from March last year. Exports decreased by 0.9 billion to NOK 40.7 billion. The trade surplus for the month was NOK 16.5 billion, a 11.2 per cent fall from March 2002.
      The 3.0 million increase in imports is most likely related to the Easter holidays, which in 2002 came in March, but in April this year. In addition, a significantly lower export of aircraft this year, compared with March 2002 contributes to lower the surplus.

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