Including land as a balance sheet item in the Norwegian National Accounts

The accounting links and associated entries related to land from opening to closing balance sheets in the SNA are also described in a comprehensive way.

Based on limited data and simple assumptions, estimation is made for the value of Norwegian land in 2011 by applying different measuring approaches for different types of land. The results are presented in both total value and the distribution of land cross-classified by land types and institutional sectors.

The results show that land underlying dwellings (AN.21111) is most valuable, of which Households sector (S14) owns the largest part. The second most valuable land refers to land underlying buildings other than dwellings (AN.211121), and Non-financial corporations (S11) is the biggest owner of this type of land. The third and fourth most valuable lands are those for forestry land (AN.21122) and agricultural land (AN.21121), respectively.