Content
Published:
This is an archived release.
Large increase in settlements to Norwegian bank accounts
Settlements to Norwegian bank accounts from foreign countries amounted to more than NOK 425 billion in the third quarter of 2008. This is a marked increase of almost 24 per cent compared with the second quarter of 2008.
Incoming settlements | Outgoing settlements | ||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Number of
settlements |
Per cent | NOK million | Per cent |
Number of
settlements |
Per cent | NOK million | Per cent | ||||||||||||||||||||||||||||||||
Total | 597 208 | 100.0 | 424 767 | 100.0 | 1 230 061 | 100.0 | 330 254 | 100.0 | |||||||||||||||||||||||||||||||
The Nordic countries | 349 382 | 58.5 | 151 176 | 35.6 | 510 071 | 41.5 | 112 761 | 34.1 | |||||||||||||||||||||||||||||||
Rest of the EU | 178 428 | 29.9 | 195 006 | 45.9 | 478 227 | 38.9 | 147 313 | 44.6 | |||||||||||||||||||||||||||||||
Rest of Europe | 14 704 | 2.5 | 6 043 | 1.4 | 34 683 | 2.8 | 13 416 | 4.1 | |||||||||||||||||||||||||||||||
Africa | 2 247 | 0.4 | 1 045 | 0.2 | 12 160 | 1.0 | 1 489 | 0.5 | |||||||||||||||||||||||||||||||
Asia | 20 683 | 3.5 | 41 203 | 9.7 | 102 216 | 8.3 | 31 331 | 9.5 | |||||||||||||||||||||||||||||||
North and Central America | 27 713 | 4.6 | 26 764 | 6.3 | 79 183 | 6.4 | 19 336 | 5.9 | |||||||||||||||||||||||||||||||
South America | 1 499 | 0.3 | 982 | 0.2 | 6 592 | 0.5 | 2 165 | 0.7 | |||||||||||||||||||||||||||||||
Oceania | 2 552 | 0.4 | 2 549 | 0.6 | 6 929 | 0.6 | 2 443 | 0.7 | |||||||||||||||||||||||||||||||
Incoming settlements totalling almost NOK 425 billion were registered in the third quarter of 2008; an increase of nearly 24 per cent from the second quarter. The total value of outgoing settlements showed an increase of about 10 per cent in the same period, and thereby amounted to NOK 330 billion. There is an especially strong increase in the cash flow between Norway and Asia. Incoming settlements from Asia to Norway have a 163 per cent higher value compared to the second quarter. There is also a strong 76 per cent increase in outgoing settlements. In total numbers, the upswing in cash flow between Asia and Norway amounts to NOK 26 billion for incoming settlements and NOK 14 billion for outgoing settlements. Still, in total figures the settlements from rest of EU to Norway represent the largest change. Compared to the second quarter, there is an increase of more than NOK 56 billion, which is an increase of 40 per cent. Outgoing settlements from Norway to the rest of the EU have increased by more than NOK 17 billion, which is 13 per cent higher than the second quarter of 2008.
Section | Incoming settlements | Outgoing settlements | |||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
NOK million | Per cent | NOK million | Per cent | ||||||||||||||||||||||||||||||||||||
Total | 421 108 | 100.0 | 324 796 | 100.0 | |||||||||||||||||||||||||||||||||||
Agriculture, hunting and forestry | 23 | 0.0 | 136 | 0.0 | |||||||||||||||||||||||||||||||||||
Fishing | 3 302 | 0.8 | 2 168 | 0.7 | |||||||||||||||||||||||||||||||||||
Mining and quarrying | 117 711 | 28.0 | 20 036 | 6.2 | |||||||||||||||||||||||||||||||||||
Manufactoring | 131 845 | 31.3 | 107 228 | 33.0 | |||||||||||||||||||||||||||||||||||
Electricity, gas and water supply | 21 403 | 5.1 | 27 147 | 8.4 | |||||||||||||||||||||||||||||||||||
Construction | 941 | 0.2 | 2 355 | 0.7 | |||||||||||||||||||||||||||||||||||
Wholesale and retail trade | 37 277 | 8.9 | 75 752 | 23.3 | |||||||||||||||||||||||||||||||||||
Hotels and restaurants | 603 | 0.1 | 619 | 0.2 | |||||||||||||||||||||||||||||||||||
Transport, storage and communication | 39 972 | 9.5 | 35 222 | 10.8 | |||||||||||||||||||||||||||||||||||
Real estate, renting and buiness activities | 62 411 | 14.8 | 43 039 | 13.3 | |||||||||||||||||||||||||||||||||||
Public administration | 3 105 | 0.7 | 7 307 | 2.2 | |||||||||||||||||||||||||||||||||||
Education | 168 | 0.0 | 280 | 0.1 | |||||||||||||||||||||||||||||||||||
Health and social work | 387 | 0.1 | 1 595 | 0.5 | |||||||||||||||||||||||||||||||||||
Other community, social and personal service activities | 1 030 | 0.2 | 1 655 | 0.5 | |||||||||||||||||||||||||||||||||||
Private households with employed persons | 0 | 0.0 | 0 | 0.0 | |||||||||||||||||||||||||||||||||||
Extra-territorial organizations and bodies | 77 | 0.0 | 15 | 0.0 | |||||||||||||||||||||||||||||||||||
Missing | 853 | 0.2 | 242 | 0.1 | |||||||||||||||||||||||||||||||||||
Large increase in settlements to mining and quarrying from abroad
In the third quarter 2008, the manufacturing and mining and quarrying industries also received more than 59 per cent of the incoming settlements in total. There has been a particularly large change in incoming settlements to the mining and quarrying industry. Compared to the second quarter of 2008, there has been an increase of 63 per cent, which amounts to NOK 46 billion. In the third quarter of 2008, the real estate, renting and business activities industry had the largest relative increase in incoming settlements, with 127 per cent compared to the second quarter. This amounts to approximately NOK 35 billion.
1. quarter | 2. quarter | 3. quarter | |||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total | 12.1 | 13.8 | 28.6 | ||||||||||||||||||||||||||||||||||||
The Nordic countries | 24.1 | 36.8 | 34.1 | ||||||||||||||||||||||||||||||||||||
Rest of the EU | 6.4 | 6.9 | 32.4 | ||||||||||||||||||||||||||||||||||||
Rest of Europe | -61.9 | -67.2 | -55.0 | ||||||||||||||||||||||||||||||||||||
Africa | -17.8 | -14.4 | -29.8 | ||||||||||||||||||||||||||||||||||||
Asia | -16.6 | -11.8 | 31.5 | ||||||||||||||||||||||||||||||||||||
North and Central America | 72.5 | 17.4 | 38.4 | ||||||||||||||||||||||||||||||||||||
South America | -54.8 | -55.9 | -54.6 | ||||||||||||||||||||||||||||||||||||
Oceania | -37.4 | -18.8 | 4.3 | ||||||||||||||||||||||||||||||||||||
Much higher incoming values than outgoing
The total value of incoming settlements to Norway exceeded the value of the outgoing settlements by around 29 per cent in the third quarter of 2008. This is higher than both the first and second quarter of 2008 when the total value of the incoming settlements was about 13 per cent higher than outgoing. Quite a large portion of this increase is a result of the increased value of settlements from Asia and the rest of the EU to Norway.
Country | 3. quarter | 2. quarter | 1. quarter | ||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
NOK million | |||||||||||||||||||||||||||||||||||||||
Sweden | 70 730 | 77 572 | 66 024 | ||||||||||||||||||||||||||||||||||||
United Kingdom | 56 299 | 49 947 | 48 058 | ||||||||||||||||||||||||||||||||||||
Denmark | 29 829 | 27 252 | 26 119 | ||||||||||||||||||||||||||||||||||||
Germany | 28 335 | 26 286 | 21 993 | ||||||||||||||||||||||||||||||||||||
Netherlands | 16 810 | 12 366 | 11 846 | ||||||||||||||||||||||||||||||||||||
USA | 15 976 | 15 316 | 15 236 | ||||||||||||||||||||||||||||||||||||
France | 12 728 | 9 430 | 12 307 | ||||||||||||||||||||||||||||||||||||
Finland | 11 525 | 9 843 | 9 522 | ||||||||||||||||||||||||||||||||||||
Switzerland | 11 008 | 11 093 | 9 616 | ||||||||||||||||||||||||||||||||||||
Hong Kong | 10 150 | 1 917 | 2 219 | ||||||||||||||||||||||||||||||||||||
Sweden and Great Britain are the largest receivers of bank settlements from Norway
The large Norwegian trade partners dominate the top ten list of countries receiving settlements from Norway. In the first three quarters of 2008, Sweden and Great Britain are clearly the largest receivers of settlements from Norway. In the third quarter alone, Sweden received settlements with a total value of more than NOK 70 billion, and Great Britain received around NOK 56 billion.
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 . |
Contact
-
Anne Lyslid Larsen
E-mail: anne.larsen@ssb.no
tel.: (+47) 40 90 23 31
-
Jonathan Ho
E-mail: jonathan.ho@ssb.no
tel.: (+47) 40 90 25 82