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/en/utenriksokonomi/statistikker/betalstr/arkiv
10292
The tables have turned
statistikk
2009-02-20T10:00:00.000Z
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, Q4 2008

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The tables have turned

In the fourth quarter of 2008, the outgoing settlements from Norwegian banks were larger than the incoming for the first time in 2008. The total value of outgoing settlements has increased by 37 per cent compared to the third quarter, at the same time the incoming settlement has decreased by 3 per cent.

Cross border settlements through Norwegian banks 4. quarter 2008
  Incoming settlements Outgoing settlements
  Number of settlements Percent NOK million Per cent Number of settlements Percent NOK million Per cent
Total  583 551  100.0  412 031  100.0 1 283 069  100.0  453 460  100.0
The Nordic countries  332 228 56.9  130 627 31.7  545 227 42.5  137 740 30.4
Rest of the EU  179 625 30.8  209 116 50.8  491 501 38.3  211 728 46.7
Rest of Europe 13 907 2.4 5 303 1.3 37 377 2.9 15 473 3.4
Africa 1 774 0.3 1 171 0.3 13 110 1.0 12 328 2.7
Asia 18 434 3.2 18 558 4.5 98 804 7.7 31 704 7.0
North- and Central America 34 121 5.8 45 104 10.9 82 578 6.4 39 899 8.8
South America 1 208 0.2  960 0.2 6 834 0.5 2 310 0.5
Oceania 2 254 0.4 1 191 0.3 7 638 0.6 2 277 0.5

Outgoing settlements totalling NOK 453 billion were registered in the fourth quarter of 2008; a pronounced increase of more than 37 per cent compared to the third quarter. The total value of incoming settlements decreased by 3 per cent in the same period, totalling NOK 412 billion. For the first time in 2008 there was a decrease in incoming settlements.

At country category level, there are significant differences from the third to the fourth quarter. For incoming settlements, the changes in total value from the Nordic countries and Asia are particularly large, and have decreased by around NOK 20 and 22 billion respectively. This is a relative decrease of nearly 14 per cent for settlements from the Nordic countries and 55 per cent from Asia. For outgoing settlements, the largest changes in value, from the third to the fourth quarter, are observed for the EU and the Nordic countries with an increase of NOK 64 billion and 25 billion respectively. This is a relative increase of almost 44 per cent for the EU and more than 22 per cent for the Nordic countries.

Figures for 4 quarter 2008, by industry
Section Incoming settlements Outgoing settlements
NOK million Per cent NOK million Per cent
Total  407 447  100.0  448 324  100.0
Agriculture, hunting and forestry 16 0.0  142 0.0
Fishing 3 890 1.0 2 629 0.6
Mining and quarrying 70 412 17.3 84 645 18.9
Manufactoring  175 723 43.1  160 013 35.7
Electricity, gas and water supply 23 058 5.7 34 704 7.7
Construction 1 729 0.4 3 104 0.7
Wholesale and retail trade 40 173 9.9 76 903 17.2
Hotels and restaurants  516 0.1  634 0.1
Transport, storage and communication 44 459 10.9 36 993 8.3
Real estate, renting and buiness activities 37 478 9.2 34 304 7.7
Public administration 7 607 1.9 9 807 2.2
Education  243 0.1  377 0.1
Health and social work  388 0.1 1 870 0.4
Other community, social and personal service activities 1 472 0.4 1 908 0.4
Private households with employed persons 0 0.0 0 0.0
Extra-territorial organizations and bodies  102 0.0 59 0.0
Missing  182 0.0  233 0.1

Large changes in settlements to the mining and quarrying industry

Comparing the third and the fourth quarter, there are major differences in settlements to and from the mining and quarrying industry. There has been an enormous increase of 322 per cent in outgoing settlements for this industry, totalling almost NOK 65 billion. For the same period, there has also been a pronounced decrease of 40 per cent for incoming settlements, which is a reduction of more than NOK 47 billion.

The mining and quarrying and manufacturing industries are the largest receivers of settlements from abroad. Together they account for more than 60 per cent of the total value of incoming settlements and to almost 55 per cent of the total value of outgoing settlements.

Change of incoming versus outgoing settlements in Q1-Q4 2008. Per cent
  1. quarter 2. quarter 3. quarter 4. quarter
Total 12.1 13.8 28.6 -9.1
The Nordic countries 24.1 36.8 34.1 -5.2
Rest of the EU 6.4 6.9 32.4 -1.2
Rest of Europe -61.9 -67.2 -55.0 -65.7
Africa -17.8 -14.4 -29.8 -90.5
Asia -16.6 -11.8 31.5 -41.5
North and Central America 72.5 17.4 38.4 13.0
South America -54.8 -55.9 -54.6 -58.4
Oceania -37.4 -18.8 4.3 -47.7

Higher value for outgoing than incoming settlements

For the first time in 2008, the value of outgoing settlements is higher than incoming settlements. In the fourth quarter, the incoming settlements were 9 per cent lower than the outgoing.

Only North and Central America show an opposite characteristic in the fourth quarter; incoming settlements are higher than the outgoing. The most pronounced differences between incoming and outgoing settlements are found between Norway and Africa, and Norway and the rest of Europe.

The majority of settlements in the Register of Cross Border Transactions and Currency Exchange are transferred via commercial banks. The use abroad of credit cards issued in Norway and the use in Norway of credit cards issued abroad are 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 .