10296_not-searchable
/en/utenriksokonomi/statistikker/betalstr/arkiv
10296
Birds of a feather flock together
statistikk
2008-08-20T10:00:00.000Z
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
false

Cash flows between Norway and abroad, Q2 2008

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Birds of a feather flock together

Settlements to Norwegian bank accounts from foreign countries amounted to around NOK 340 billion the second quarter of 2008, while approximately NOK 300 billion was paid to accounts abroad. More than 90 per cent of the settlements came between Norway and other prosperous countries.

Cross border settlements through Norwegian banks. 2. quarter 2008
  Incoming settlements Outgoing settlements
     Number of
settlements 		   Per cent    NOK million    Per cent    Number of
settlements 		   Per cent    NOK million    Per cent
Total  617 114  100.0  343 260  100.0 1 327 250  100.0  301 559  100.0
The North  369 837 59.9  157 900 46.0  560 572 42.2  115 400 38.3
Rest of the EU  176 925 28.7  138 849 40.5  515 188 38.8  129 935 43.1
Rest of Europe 14 014 2.3 4 422 1.3 38 398 2.9 13 490 4.5
Africa 2 333 0.4 1 388 0.4 11 956 0.9 1 622 0.5
Asia 21 074 3.4 15 693 4.6  103 717 7.8 17 794 5.9
North- and Central America    28 554 4.6 22 366 6.5 84 087 6.3 19 054 6.3
South America 1 632 0.3  972 0.3 6 718 0.5 2 206 0.7
Oceania 2 745 0.4 1 670 0.5 6 614 0.5 2 057 0.7

Incoming settlements totalling NOK 343 billion were registered in the second quarter of 2008, an increase of nearly 8 per cent from the first quarter. The total value of the outgoing settlements showed an increase of about 7 per cent in the same period, summing up to NOK 302 billion. Compared to corresponding figures for first quarter there are significant variations of the geographical distribution. There is an especially high increase in the total cash flow between South America and Norway. Settlements from Norway to South America saw an increase in the total value of 28 per cent. The value of the incoming settlements from the same area increased with 32 per cent. There are also pronounced differences, compared to first quarter, in the total value of all transactions between Norway and North-America, Oceania and the Nordic countries.

Figures for 2. quarter 2008, by industry
Section Incoming settlements Outgoing settlements
   NOK million    Per cent    NOK million    Per cent
Total  339 612  100.0  295 236  100.0
Agriculture, hunting and forestry 20 0.0  205 0.1
Fishing 3 061 0.9 1 996 0.7
Mining and quarrying 72 147 21.2 17 159 5.8
Manufactoring  128 830 37.9  103 187 35.0
Electricity, gas and water supply 17 809 5.2 21 567 7.3
Construction 1 124 0.3 2 253 0.8
Wholesale and retail trade 33 460 9.9 71 733 24.3
Hotels and restaurants  478 0.1  401 0.1
Transport, storage and communication 49 207 14.5 39 123 13.3
Real estate, renting and buiness activities 27 536 8.1 28 376 9.6
Public administration 3 970 1.2 5 327 1.8
Education  190 0.1  302 0.1
Health and social work  409 0.1 1 444 0.5
Other community, social and personal service activities    1 129 0.3 1 784 0.6
Private households with employed persons 0 0.0 0 0.0
Extra-territorial organizations and bodies 46 0.0 18 0.0
Missing  195 0.1  361 0.1

Manufacturing, mining and quarrying most important industries

Representing more than 59 per cent of the total value for all incoming and outgoing settlements, manufacturing and mining and quarrying constituted the most important industries.

Like first quarter, the manufacturing enterprises stood for both the largest incoming and outgoing settlements.

Per cent change of incoming versus outgoing settlements in Q1 and Q2 2008
       1. quarter        2. quarter
Total 12.1 13.8
The North 24.1 36.8
Rest of the EU 6.4 6.9
Rest of Europe -61.9 -67.2
Africa -17.8 -14.4
Asia -16.6 -11.8
North- and Central America      72.5 17.4
South America -54.8 -55.9
Oceania -37.4 -18.8

Higher incoming values than outgoing

The total value of incoming settlements to Norway exceeded the value of the outgoing settlements with around 13 per cent in both first and second quarters of 2008. This tendency of higher incoming settlements than outgoing settlements is also valid for North- and Central America, and Europe. Regarding Africa, Asia, South America and Oceania the pattern was opposite.

Figures on incoming and outgoing settlements in Q2 2008 distributed on least developed countries (LCD), OECD and other
  Incoming Outgoing
      NOK million     Per cent     NOK million     Per cent
Total  343 260  100.0  301 559  100.0
MUL (LDC)*      300 0.1 1 053 0.3
OECD  326 745 95.2  275 064 91.2
Others 16 216 4.7 25 442 8.4
*  Least developed countries.

Birds of a feather flock together

More than 95 per cent of the total value of the incoming settlements came from other OECD-countries, while slightly above 91 per cent of the value of the outgoing settlements were paid to these countries. The least developed countries (LDC) constituted the same quarter 0.1 per cent and 0.3 per cent of the total values respectively.

The majority of settlements in the Register of Cross Border Transactions and Currency Exchange are transferred via commercial banks. The use of credit cards issued in Norway abroad and credit cards issued abroad in Norway is also registered. Unless otherwise stated the statistics only cover payments via commercial banks.

The statistics show the extent of cross border payments between individuals or enterprises in Norway and foreign individuals or enterprises. Financial enterprises are not included in the statistics. More details about delimitation and important terms are available in About the statistics .