Content
Published:
This is an archived release.
Decline in settlement flows
Both inward and outward bank settlement flows decreased from the second to the third quarter of 2013. The largest decline was for incoming transfers.
3rd quarter 2013 | Change in per cent | Change in per cent | |
---|---|---|---|
NOK million | 2nd quarter 2013 - 3rd quarter 2013 | 3rd quarter 2012 - 3rd quarter 2013 | |
Incoming value | 485 897 | -5.4 | 8.3 |
Outgoing value | 488 614 | -2.2 | 6.5 |
Settlements from foreign countries to Norwegian bank accounts amounted to NOK 486 billion in the third quarter of 2013. This was a decline of 5.4 per cent, a drop of NOK 28 billion from the second quarter.
Outgoing settlements showed a decrease of about 2.2 per cent, or NOK 11 billion, from the second quarter. The total settlements sent from Norwegian non-financial enterprises and private persons to foreign countries reached NOK 489 billion.
However, compared with the third quarter of 2012, incoming settlements increased by NOK 37 billion. This was an increase of 8.3 per cent. In the same period, outgoing settlements increased 6.5 per cent, going up by NOK 30 billion.
Reduced settlements with Nordic countries
The decrease in the inward settlements was mainly due to a reduction in transfers from Nordic countries, which went down by NOK 18 billion from the second quarter. The inward settlements from Nordic countries ended at NOK 183 billion in the third quarter, a decrease of 9.1 per cent from the previous quarter.
Outgoing bank transfers from Norway decreased by NOK 23 billion from the previous quarter; a reduction of 11.7 per cent. Transfers to non-Nordic countries increased by NOK 1.4 billion, and ended at NOK 221 billion. This was an increase of 0.6 per cent from the second quarter of 2013.
Increased transfers to administrative and support service industry
Enterprises within the administrative and support service industry received NOK 31 billion from abroad in the third quarter. This was an increase of NOK 17 billion from the second quarter, equivalent to an increase of 116.8 per cent. Transfers to the information and communication industry were reduced the most, and went down by NOK 19 billion; a 35.5 per cent decrease from the previous quarter. Bank transfers to the mining and quarrying industry were also reduced, and received NOK 16 billion less than in the previous quarter.
Norwegian enterprises sent NOK 479 billion abroad in the third quarter of 2013, which was NOK 11 billion less than in the second quarter. It was especially enterprises within the manufacturing industry and public administration and defence that reduced their settlements to foreign countries, which decreased by NOK 11 billion and NOK 10 billion respectively. Outward transfers from the information and communication industry decreased by NOK 14 billion; a decrease of 16.3 per cent from the previous quarter.
Inward transfers lower than outward transfers
Bank settlements from Norway to foreign countries surpassed the amount being sent to Norway. The inward settlement was 0.6 per cent lower than the outward settlements, meaning that NOK 3 billion more money was sent out of Norway than was sent into Norway.
Contact
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Anne Lyslid Larsen
E-mail: anne.larsen@ssb.no
tel.: (+47) 40 90 23 31
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Jonathan Ho
E-mail: jonathan.ho@ssb.no
tel.: (+47) 40 90 25 82