Manufacturing turnover record in NorwayChristian Fernsby ▼ | February 8, 2020
Seasonally adjusted figures show that the total turnover in Norwegian manufacturing increased 2.1 per cent from the third to the fourth quarter of 2019.
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Topics: Manufacturing record Norway
Seasonally-adjusted figures show that the turnover in Norwegian manufacturing increased 2.1 per cent from the third to the fourth quarter of 2019.
Both the domestic and export market contributed to the growth.
The largest contribution to the increase in Norwegian manufacturing came from the industry fabricated metal products which saw a increase of 11 per cent in the period.
The industry grouping refined petroleum, chemicals and pharmaceuticals also contributed to the growth.
Increased prices on refined petroleum products was a contributing factor to the increased turnover for the industry grouping refined petroleum, chemicals and pharmaceuticals.
Total Norwegian manufacturing turnover increased 1.0 per cent from November to December 2019, according to seasonally-adjusted figures.
The industry building of ships and oil platforms contributed the most to the growth in Norwegian manufacturing turnover, with an increase of almost 22 per cent in the period.Manufacturing turnover in the euro area decreased 0.3 per cent from October to November 2019, according to seasonally-adjusted figures.
Total turnover in Norwegian manufacturing increased 0.2 per cent in the same period.
In the other Scandinavian countries, the turnover in Denmark went up 0.3 per cent and decreased 0.1 per cent in Sweden per cent, according to Eurostat.
Norwegian manufacturing turnover had an annual growth of 5.7 per cent from 2018 to 2019.
Both the domestic and export market contributed to the increase was 5.8 and 5.6 per cent respectively.
The domestic turnover stood for 57 per cent of the total turnover in manufacturing. ■