295445
/en/utenriksokonomi/statistikker/betalstr/kvartal
295445
statistikk
2017-08-18T08:00:00.000Z
External economy;External economy
en
betalstr, Cash flows between Norway and abroad, register of Cross Borders and Transactions and Currency Exchange, banking transactions (for non-financial enterprises and private individuals), incoming and outgoing payments, country areas, main business sectors (for example manufacturing, electricity and water supply, fishing)Balance of payments, Foreign assets and liabilities , External economy
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Cash flows between Norway and abroad

Updated

Next update

Key figures

-1.7

ingoing bank transfers to Norway, change from the previous quarter.

External settlements between Norway and abroad for non-financial enterprises and private individuals
2nd quarter 2017Change in per centChange in per cent
NOK million1st quarter 2017 - 2nd quarter 20172nd quarter 2016 - 2nd quarter 2017
Incoming value549 734-1.7-2.6
Outgoing value563 4320.6-3.0

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Table 1 
External settlements for non-financial enterprises and private individuals, by region

External settlements for non-financial enterprises and private individuals, by region
2nd quarter 2017ShareChange in per cent
NOK millionPer cent1st quarter 2017 - 2nd quarter 20172nd quarter 2016 - 2nd quarter 2017
Incoming value
All countries549 734100.0-1.7-2.6
The Nordic countries219 13839.99.19.7
EU countries excl. Nordic countries247 73545.1-10.1-6.4
Rest of Europe5 3581.017.68.3
Africa8190.1-5.522.6
Asia13 8152.5-14.7-22.6
North and Central America61 07511.12.9-18.5
South America, total4480.1-40.7-18.2
Oceania1 3470.253.826.0
 
Outgoing value
All countries563 432100.00.6-3.0
The Nordic countries207 17536.80.80.2
EU countries excl. Nordic countries281 90050.02.7-2.9
Rest of Europe13 8972.512.1-5.1
Africa3 2440.68.244.6
Asia27 1254.8-11.0-19.6
North and Central America26 0104.6-14.4-12.6
South America, total2 2900.44.57.9
Oceania1 7900.39.634.0

Table 2 
External settlements between Norway and abroad for non-financial enterprises, by industry

External settlements between Norway and abroad for non-financial enterprises, by industry
2nd quarter 2017
Incoming valueOutgoing value
NOK millionPer centNOK millionPer cent
Total540 993100.0551 235100.0
Agriculture, forestry and fishing9 7041.87 2241.3
Mining and quarrying120 78122.371 25512.9
Manufacturing112 91520.9104 15418.9
Electricity, gas and steam60 63311.263 36411.5
Water supply, sewerage, waste1 4760.39090.2
Construction5 5211.08 2051.5
Wholesale and retail trade: repair of motor vehicles and motorcycles64 46711.9112 72620.4
Transportation and storage59 82311.156 88210.3
Accommodation and food service activities1 0430.21 0440.2
Information and communication52 6679.764 46511.7
Real estate activities8 3231.58 8581.6
Professional, scientific and technical activities16 7993.117 6583.2
Administrative and support service activities11 9112.212 1272.2
Public administration and defence6 5711.211 7042.1
Education5710.16360.1
Human health and social work activities1 1710.23 3550.6
Arts, entertainment and recreation4810.19140.2
Other service activities9640.21 2650.2
Activities of extraterritorial organisations and bodies1440.0580.0
Unknown industry5 0280.94 4320.8

Table 3 
Difference between incoming versus outgoing settlements in the last 5 quarters. Per cent

Difference between incoming versus outgoing settlements in the last 5 quarters. Per cent
2nd quarter 20163rd quarter 20164th quarter 20161st quarter 20172nd quarter 2017
All countries-2.91.9-4.3-0.2-2.4
The Nordic countries-3.44.9-4.1-2.25.8
EU countries excl. Nordic countries-8.9-3.7-5.90.4-12.1
Rest of Europe-66.2-59.5-58.5-63.3-61.4
Africa-70.2-49.5-77.2-71.1-74.8
Asia-47.1-39.1-39.6-46.8-49.1
North and Central America151.794.062.695.5134.8
South America, total-74.2-68.9-84.0-65.5-80.4
Oceania-20.0-32.14.0-46.4-24.7

About the statistics

The statistics show Norwegian cross border payments made via Norwegian banks. The source is the tax authority’s currency register. The population includes cross border bank transfers where the Norwegian party is a non-financial enterprise or a private person.

Definitions

Definitions of the main concepts and variables

External settlement/cross border settlement

Transfer of money between Norway and abroad.

Financial enterprise

Enterprise with a two digit industrial code 64 (financial service activities, except insurance and pension funding), 65 (insurance, reinsurance and pension funding, except compulsory social activities) or 66 (Activities auxiliary to financial services and insurance activities).

Non financial company

Enterprise with a two digit industrial code other than 64, 65 or 66. See Financial enterprise.

Norwegian/domestic resident

Legal persons registered as Norwegian, including foreign owned companies registered as Norwegian, and foreign company's affiliates in Norway, and physical persons permanently residing in Norway, regardless of citizenship.

Foreign/foreigner

Legal persons registered abroad, including Norwegian owned companies that are registered abroad, and Norwegian companies' affiliates abroad, and physical persons permanently residing abroad, regardless of citizenship.

 

Standard classifications

From Q1 2008 to Q4 2010, the statistics was classified according to the Standard Industrial Classification 2002 (SIC2002), which is a Norwegian adaptation of NACE Rev.1 (EUROSTAT). As from Q1 2011, the standard has been replaced by the Standard Industrial Classification 2007 (SIC2007), which is a Norwegian adaptation of NACE Rev. 2 (EUROSTAT). SIC2007 forms the basis for coding units according to principal activity in the Central Register of Establishments and Enterprises. The use of common standards is essential in enabling the comparison and analysis of statistical data at national/international level and over time.

Administrative information

Name and topic

Name: Cash flows between Norway and abroad
Topic: External economy

Next release

Responsible division

Division for External Trade

Regional level

National level.

Frequency and timeliness

Quarterly. Time for publication will be approximately 50 days after the expiration of the reference period.

International reporting

Not relevant

Microdata

The microdata which this statistics are based on are stored with Statistics Norway.

Background

Background and purpose

The Register of Cross Border Transactions and Currency Exchange (The Currency Register) was established 01.01.2005. The register includes all boundary crossing settlements to and from Norway. The purpose of the register is first of all to be a controlling instrument to reveal cross border economical crime. The Norwegian Tax administration took over as the register owner from The Directorate of Customs and Excise in January 2016.

This statistics is based on information from the Currency Register. The purpose with the statistics is to indicate main features of cross border economical activity between Norway and foreign countries. The first statistical period was 1 quarter 2008.

As from first quarter 2011, this statistics will refer to SIC2007 (see paragraph 4.2) as the Standard Industrial Classification of Economic Activities. In particular, this affected enterprises which were not registered with financial activities in SIC2002, but were not so using SIC2007, and vice versa. Because of this change in standards, there are certain changes in values from previous publications before Q1 2011.

Data series are recalculated according to the 2007 version of SIC, and updated results from 2008 are available in Statbank Norway. Please note that publications prior to Q1 2011 will not be updated by the new Standard Industrial Classification of Economic Activities, and are therefore not directly comparable to articles published Q1 2011 and forward.

Users and applications

This statistics apply to private persons and institutions interested in achieving insight into economic activity between Norway and foreign countries.

Equal treatment of users

No external users have access to the statistics and analyses before they are published and accessible simultaneously for all users on ssb.no at 8 am. Prior to this, a minimum of three months' advance notice is given in the Statistics Release Calendar. See also Principles for equal treatment of users in releasing statistics and analyses engelsk versjon av  likebehandlingsprinsippet

Coherence with other statistics

Norges Bank's Annual Report on customer related payment transfers is among other sources based on information from the Currency Register.

Legal authority

The Statistics Act, §§ 2-1 and Foreign Exchange register Act.

EEA reference

Not relevant

Production

Population

The settlements which this statistics is based on are reported to the register by Norwegian commercial banks. The population includes cross border bank transfers between Norway and other countries, where the Norwegian enterprises are classified as a non financial company (NACE 64, 65 and 66 are leaved out) or as a private person.

Enterprises that are classified in a different industry code other than 64-66, but mainly sharing characteristics of enterprises in these industries are also excluded.

 

Data sources and sampling

The Norwegian Tax administration (The currency register).

Total counting.

Collection of data, editing and estimations

The statistics is register based. The respondents are obliged to transmit detailed information about their cross border bank transactions to the currency register. Statistics Norway receives extensions from the register about thirty days after the expiration of the reference month.

There are some minor checks for consistence in the currency register. The data are merged with Statistics Norway's business register for identification and implementation of industrial code. No further revision.

Level numbers estimated by summing up. The figures are dispersed on respectively private individuals and non financial enterprises, and also on continents. The figure for Europe are further spread on the North, EU except Nordic countries, and the rest of Europe.

Seasonal adjustment

Not relevant

Confidentiality

Statistics Norway's principles for confidentiality is used.

Comparability over time and space

The statistics was published for the first time first quarter of 2008. A set of standard tables make it possible to identify tendencies over time.

SIC2007 replaced SIC2002 as standard in Q1 2010. Time series from 2008 has been recalculated based on SIC2007, and are available in StatBank Norway.

Users of the data must ensure they use results based on the same version of SIC when making comparisons over time. Articles written prior to 2011 will not be updated by this new standard, and are therefore not directly comparable to articles from Q1 2011 and onwards.

Accuracy and reliability

Sources of error and uncertainty

The reporters may supply the currency register with incorrect information.

Big transactions may by accident be missing.

Enterprises may be classified with incorrect industrial code in the business register of Statistics Norway.

In the year 2005, several reporting entities did not give full reports to the Currency Register. SSB's data for this year will therefore not be disclosed for research purposes. The data for 2006 and 2007 are also somewhat incomplete, but better than in 2005, data for 2006 and 2007 can therefore be released for research purposes. From year 2008, we consider that the data is complete, cf. also other reservations.

Revision

Not relevant

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