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This is an archived release.
Tax havens receive NOK 25 billion
In the second quarter of 2009, the total value of outgoing settlements was NOK 299 billion, of which NOK 25 billion had a tax haven as a destination country. The total value of incoming settlements was NOK 336 billion.
The figures show that in the second quarter of 2009 outgoing settlements from Norway to what IMF (International monetary fund) has labelled as “tax havens” was NOK 25 billion, which amounts to 8 per cent of the total value for outgoing settlements. Incoming settlements from tax havens were NOK 13 billion or 4 per cent of the total.
Forty-six countries have been labelled “tax havens” in these statistics. This is based on information from the IMF (International monetary fund). The figures show bank settlements to and from countries with legislation that can qualify them to be termed “tax havens”. For more information can be found in the report “Tax havens and development” published by a commission appointed by the Norwegian government. |
Outgoing settlements | Incoming settlements | ||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total | tax havens] | Share to tax havens | Total | tax havens] | Share from tax havens | ||||||||||||||||||||||||||||||||||
NOK million | 299 236 | 24 798 | 8.3 | 335 873 | 12 965 | 3.9 | |||||||||||||||||||||||||||||||||
Reduction in settlements
The total values of both incoming and outgoing settlements have seen a reduction from the first to the second quarter of 2009. Outgoing settlements totalled NOK 299 billion in the second quarter, which is a 9 per cent decline from the first quarter. At the same time, incoming settlements fell by less than 4 per cent and totalled NOK 336 billion in the second quarter. The main contributor to this decline, both in outgoing and incoming settlements, is the reduction of value transferred between rest of EU and Norway. In total value, both outgoing and incoming settlements have seen a NOK 18 billion decrease from the first quarter in 2009 to the second quarter. This gives a decline of 12 per cent for incoming and 13 per cent for outgoing settlements.
Number of settlements | Percent | NOK million | Percent | ||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total | 551 405 | 100.0 | 335 873 | 100.0 | |||||||||||||||||||||||||||||||||||
The Nordic countries | 314 482 | 57.0 | 135 439 | 40.3 | |||||||||||||||||||||||||||||||||||
Rest of the EU | 168 434 | 30.5 | 136 212 | 40.6 | |||||||||||||||||||||||||||||||||||
Rest of Europe | 12 256 | 2.2 | 4 852 | 1.4 | |||||||||||||||||||||||||||||||||||
Africa | 1 574 | 0.3 | 822 | 0.2 | |||||||||||||||||||||||||||||||||||
Asia | 17 612 | 3.2 | 15 895 | 4.7 | |||||||||||||||||||||||||||||||||||
North and Central America | 33 328 | 6.0 | 39 456 | 11.7 | |||||||||||||||||||||||||||||||||||
South America | 1 188 | 0.2 | 1 746 | 0.5 | |||||||||||||||||||||||||||||||||||
Oceania | 2 531 | 0.5 | 1 452 | 0.4 | |||||||||||||||||||||||||||||||||||
Number of settlements | Percent | NOK million | Percent | ||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total | 1 272 619 | 100.0 | 299 236 | 100.0 | |||||||||||||||||||||||||||||||||||
The Nordic countries | 546 206 | 42.9 | 116 573 | 39.0 | |||||||||||||||||||||||||||||||||||
Rest of the EU | 485 393 | 38.1 | 122 387 | 40.9 | |||||||||||||||||||||||||||||||||||
Rest of Europe | 36 805 | 2.9 | 12 217 | 4.1 | |||||||||||||||||||||||||||||||||||
Africa | 12 795 | 1.0 | 1 524 | 0.5 | |||||||||||||||||||||||||||||||||||
Asia | 101 665 | 8.0 | 19 337 | 6.5 | |||||||||||||||||||||||||||||||||||
North and Central America | 76 966 | 6.0 | 23 687 | 7.9 | |||||||||||||||||||||||||||||||||||
South America | 6 576 | 0.5 | 1 419 | 0.5 | |||||||||||||||||||||||||||||||||||
Oceania | 6 213 | 0.5 | 2 092 | 0.7 | |||||||||||||||||||||||||||||||||||
Mining and quarrying up, manufacturing down
In mining and quarrying there has been an increase in both outgoing and incoming external settlements from the first to the second quarter of 2009. Incoming settlements have seen an increase of almost 24 per cent or NOK 15 billion in this time period, and the outgoing settlements have seen an increase of 2 per cent, which is less than NOK 1 billion.
External settlements to the manufacturing industry in Norway decreased by 16 per cent from the first to the second quarter of 2009, which amounts to slightly less than NOK 25 billion. The total value of incoming settlements to the manufacturing industry was more than NOK 125 billion in the second quarter of 2009, which is the lowest total registered for the manufacturing industry in these statistics. The outgoing settlements from the manufacturing industry totalled almost NOK 109 billion in the second quarter of 2009. Compared to the first quarter this is a decline of NOK 17 billion or 14 per cent.
Section | Incoming settlements | Outgoing settlements | |||||||||||||||||||||||||||||||||||||
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NOK million | Per cent | NOK million | Per cent | ||||||||||||||||||||||||||||||||||||
Total | 332 984 | 100.0 | 293 651 | 100.0 | |||||||||||||||||||||||||||||||||||
Agriculture, hunting and forestry | 25 | 0.0 | 220 | 0.1 | |||||||||||||||||||||||||||||||||||
Fishing | 4 056 | 1.2 | 2 095 | 0.7 | |||||||||||||||||||||||||||||||||||
Mining and quarrying | 77 528 | 23.3 | 26 547 | 9.0 | |||||||||||||||||||||||||||||||||||
Manufactoring | 125 255 | 37.6 | 108 755 | 37.0 | |||||||||||||||||||||||||||||||||||
Electricity, gas and water supply | 18 831 | 5.7 | 23 890 | 8.1 | |||||||||||||||||||||||||||||||||||
Construction | 1 720 | 0.5 | 2 067 | 0.7 | |||||||||||||||||||||||||||||||||||
Wholesale and retail trade | 30 987 | 9.3 | 61 990 | 21.1 | |||||||||||||||||||||||||||||||||||
Hotels and restaurants | 377 | 0.1 | 408 | 0.1 | |||||||||||||||||||||||||||||||||||
Transport, storage and communication | 36 744 | 11.0 | 29 992 | 10.2 | |||||||||||||||||||||||||||||||||||
Real estate, renting and buiness activities | 28 550 | 8.6 | 27 716 | 9.4 | |||||||||||||||||||||||||||||||||||
Public administration | 6 757 | 2.0 | 5 652 | 1.9 | |||||||||||||||||||||||||||||||||||
Education | 215 | 0.1 | 290 | 0.1 | |||||||||||||||||||||||||||||||||||
Health and social work | 347 | 0.1 | 1 601 | 0.5 | |||||||||||||||||||||||||||||||||||
Other community, social and personal service activities | 1 074 | 0.3 | 2 112 | 0.7 | |||||||||||||||||||||||||||||||||||
Private households with employed persons | 0 | 0.0 | 0 | 0.0 | |||||||||||||||||||||||||||||||||||
Extra-territorial organizations and bodies | 133 | 0.0 | 37 | 0.0 | |||||||||||||||||||||||||||||||||||
Missing | 386 | 0.1 | 278 | 0.1 | |||||||||||||||||||||||||||||||||||
Incoming settlements 12 per cent higher than outgoing
In the second quarter of 2009, the incoming settlements were almost 12 per cent higher than the outgoing. There has been a positive trend in the last three quarters, where the total value of incoming settlements is becoming greater than the outgoing. In the second quarter of 2009, it is the increase in incoming settlements from the Nordic countries to Norway in particular, together with a decrease in outgoing settlements from Norway to the Nordic countries that has improved the balance.
2. quarter 2009 | 1. quarter 2009 | 4. quarter 2008 | 3. quarter 2008 | 2. quarter 2008 | |||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total | 12.1 | 5.8 | -9.1 | 28.6 | 13.8 | ||||||||||||||||||||||||||||||||||
The Nordic countries | 24.1 | 7.8 | -5.2 | 34.1 | 36.8 | ||||||||||||||||||||||||||||||||||
Rest of the EU | 6.4 | 10.0 | -1.2 | 32.4 | 6.9 | ||||||||||||||||||||||||||||||||||
Rest of Europe | -61.9 | -63.5 | -65.7 | -55.0 | -67.2 | ||||||||||||||||||||||||||||||||||
Africa | -17.8 | -53.3 | -90.5 | -29.8 | -14.4 | ||||||||||||||||||||||||||||||||||
Asia | -16.6 | -35.7 | -41.5 | 31.5 | -11.8 | ||||||||||||||||||||||||||||||||||
North and Central America | 72.5 | 53.6 | 13.0 | 38.4 | 17.4 | ||||||||||||||||||||||||||||||||||
South America | -54.8 | -48.9 | -58.4 | -54.6 | -55.9 | ||||||||||||||||||||||||||||||||||
Oceania | -37.4 | -32.1 | -47.7 | 4.3 | -18.8 | ||||||||||||||||||||||||||||||||||
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 . |
Contact
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Anne Lyslid Larsen
E-mail: anne.larsen@ssb.no
tel.: (+47) 40 90 23 31
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Jonathan Ho
E-mail: jonathan.ho@ssb.no
tel.: (+47) 40 90 25 82