20549_not-searchable
/en/nasjonalregnskap-og-konjunkturer/statistikker/knri/arkiv
20549
Significant growth in households saving in 2002
statistikk
2003-06-05T10:00:00.000Z
National accounts and business cycles
en
nri, Annual non-financial sector accounts, national accounts, general government, non-financial enterprises, financial enterprises, households, non-profit organisations, production, production price, operating profit, income, saving, saving rate, disposable income, FISM, net financial investments, dividendsNational accounts , National accounts and business cycles
false

Annual non-financial sector accounts, national accounts, 2000-2002

A of 7 June 2017 the statistics will be published as Quarterly non-Financial sector accounts, national accounts.

The institutional sector accounts record economic transactions of the institutional sectors in national accounts. Non-financial and financial accounts by institutional sector is updated quarterly in StatBank.

Content

Published:

This is an archived release.

Go to latest release

Significant growth in households saving in 2002

Statistics Norway has compiled new preliminary National accounts figures for 2002. The latest preliminary National account figures show that Households and non-profit institutions serving households (NPISH) saved NOK 51.5 billion in 2002. This is an increase of NOK 24.0 billion from 2001. The Household sector had a net lending of NOK 27.7 billion in 2002 compared with only NOK 0.7 billion in 2001.

Disposable income and saving for Norway

Norway had a growth in disposable income of 21.6 per cent from 1999 to 2000. Preliminary calculations show an increase in disposable income from 2000 to 2001 of 3.9 per cent. From 2001 to 2002 the figures show a slight growth at 0.4 per cent. The savings rate for Norway has fallen from 26.8 per cent in 2000 to 21.2 per cent in 2002, but the savings rate is still high above the levels observed during the 1990's. Disposable income for Norway is currently estimated at NOK 1 291 billion for 2002.

Households and NPISHs

The households' income from operating surplus increased by 3.6 per cent from 2001 to 2002. In addition to the households' income from entrepreneurial activities, the operating surplus also includes imputed income from owner occupied dwellings. Increased imputed income from owner occupied dwellings contributed to the growth from 2001 to 2002.

From 2001 to 2002, the households' balance of primary income, which shows remuneration of labour and capital, increased by NOK 53.7 billion, corresponding to 7.0 per cent. This development is primarily due to the growth in compensation of employees which was NOK 35.4 billion corresponding to 5.2 per cent, and an increase in net property income from NOK -7.1 to 7.8 billion.

Property income received increased by NOK 20.0 billion (31.1 per cent) from 2001 to 2002. This increase is mainly due to a high growth in dividends received in 2002. From 2001 to 2002, property income paid increased by NOK 5.1 billion corresponding to 7.2 per cent. The households' property income paid is mainly interest payments on debt. The development from 2001 to 2002 is mainly due to an increase in the households' gross debt.

Preliminary figures show that disposable income from 2001 to 2002 increased by NOK 50.1 billion corresponding to 7.5 per cent from 2001. Behind this development lies a growth in social benefits received of NOK 15.6 billion, which corresponds to 7.5 per cent. Current taxes on income and wealth increased by NOK 6.7 billion (3.9 per cent) from 2001 to 2002.

The households' savings is calculated at NOK 51.5 billion in 2002 compared to 27.4 billion in 2001.

The savings rate, which is the savings portion of disposable income, increased from 4.1 per cent in 2001 to 7.1 per cent in 2002.

The Households and NPISHs net lending increased from NOK 0.7 billion in 2001 to 27.7 billion in 2002.

Financial corporations

The operating surplus of the financial corporations sector declined from 2001 till 2002 by NOK 1003 million, 4.2 per cent. Primary incomes increased by NOK 4.8 billion. This is due to a decrease in property income paid of NOK 2.3 billion during 2002, equivalent to 1.5 per cent, and an increase in property income received by NOK 4.6 billion, 2.4 per cent. Decreasing interest costs in Norges Bank, insurance companies and other financial institutions mainly cause the decrease in expenses. The rise in property incomes is caused by an increase in interest income in businesses and savings banks.

Disposable income has increased by NOK 20.6 billion from 2001 till 2002. The sectors net lending is estimated to NOK 17.7 billion in 2002.

Non-financial corporations

The final National Account figures for the sector Non-financial corporations shows an increase in the operating surplus from NOK 192 billion in 1999 to 365 billion in 2000. This increase is mainly due to the increase in the current value of oil production.

The saving was NOK 58.2 billion in 2000. The preliminary figures show an increase from 2000 to 2001 of NOK 8.9 billion. In 2002, the saving fell by NOK 32.3 billion to 34.8 billion.

Net lending for non-financial corporations is estimated to NOK 28.9 billion 2001. In 2002 net lending decreased to NOK 1.5 billion. The decrease in 2002 is due to both decreases in production and in property income.