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/en/utenriksokonomi/statistikker/betalstr/arkiv
84107
Increase in inward settlement flows
statistikk
2012-08-20T10:00:00.000Z
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 2012

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Increase in inward settlement flows

In the second quarter of 2012, bank transfers from abroad ended at NOK 488 billion. This is the largest amount registered since these statistics were started in 2008. Outward settlements from Norway ended at NOK 452 billion.

Incoming settlements to Norwegian non-financial enterprises and private persons increased by NOK 33 billion from the first quarter, which was an increase of 7.3 per cent. Compared to the second quarter of 2012, inward settlements increased by 15.6 per cent, or nearly NOK 66 billion.

Outgoing bank settlements decreased by NOK 6 billion from the first quarter of 2012; a reduction of 1.3 per cent. Compared to the second quarter of 2011, the transfers increased 18.7 per cent; an increase of NOK 71 billion.

Decrease in transfers with EU countries except Nordic countries

Inward settlements from EU countries except Nordic countries saw a reduction in transfers from the first quarter of 2012, and dropped by NOK 13 billion. This was a reduction of 6.2 per cent. From the second quarter of 2012, there was an increase of NOK 15 billion. Nordic and EU countries were still the largest contributors of inward settlement flows, and together made up 80.7 per cent of the total.

The reduction in outgoing settlements from the first quarter of 2012 to the second quarter was largely due to a decrease in payments to Non-Nordic EU countries of 5.2 per cent. The total value of transfers to these countries was NOK 190 billion. Compared to the same quarter last year, this was an increase of 23.7 per cent.

Incoming cross border settlements through Norwegian banks Q2 2012
  Incoming cross border settlements through Norwegian banks Q2 2012
  Number of settlements Percent NOK million Percent
Total  683 415  100.0  486 953  100.0
The Nordic countries  375 317 54.9  194 717 40.0
Rest of the EU  222 812 32.6  198 344 40.7
Rest of Europe 13 516 2.0 3 756 0.8
Africa 1 332 0.2  620 0.1
Asia 16 497 2.4 12 534 2.6
North- and Central America 50 041 7.3 74 628 15.3
South America 1 076 0.2  868 0.2
Oceania 2 824 0.4 1 487 0.3
  Outgoing cross border settlements through Norwegian banks Q2 2012
  Number of settlements Percent NOK million Percent
Total 1 668 310  100.0  452 372  100.0
The Nordic countries  675 351 40.5  183 806 40.6
Rest of the EU  695 835 41.7  190 403 42.1
Rest of Europe 46 460 2.8 11 628 2.6
Africa 15 999 1.0 2 032 0.4
Asia  130 724 7.8 21 454 4.7
North- and Central America 88 965 5.3 39 815 8.8
South America 7 102 0.4 1 774 0.4
Oceania 7 874 0.5 1 460 0.3

Increased transfers to industry

Non-financial enterprises received nearly NOK 481 billion in the second quarter of 2012. This was an increase of NOK 32 billion from the first quarter of 2012 and NOK 63 billion from the second quarter of 2011. Enterprises within manufacturing were the largest recipients, and received a quarter of the incoming transfers, nearly NOK 122 billion. The industry of mining and quarrying was the second largest, receiving nearly NOK 108 billion.

The manufacturing industry increased its outgoing settlements compared to both the previous quarter and the same quarter in 2011 and was still the largest remitter of external settlements. The industry transferred NOK 116 billion abroad, which amounted to 31 per cent of the total outgoing settlements.

Figures for Q2 2012, by industry
Section Incoming settlements Outgoing settlements
NOK million Per cent NOK million Per cent
Total  480 888  100.0  444 151  100.0
Agriculture, forestry and fishing 4 543 0.9 4 207 0.9
Mining and quarrying  107 765 22.4 43 426 9.8
Manufacturing  122 223 25.4  122 565 27.6
Electricity, gas, steam and air conditioning supply 37 831 7.9 39 195 8.8
Water supply; sewerage, waste management and remediation activities  682 0.1  415 0.1
Construction  901 0.2 2 781 0.6
Wholesale and retail trade; repair of motor vehicles and motorcycles 42 160 8.8 79 580 17.9
Transportation and storage 30 223 6.3 22 602 5.1
Accomodation and food service activities  616 0.1  421 0.1
Information and communication 45 206 9.4 47 023 10.6
Real estate activities 5 229 1.1 7 822 1.8
Professional, scientific and technical activities 18 217 3.8 17 433 3.9
Administrative and support service activities 48 270 10.0 32 695 7.4
Public administration and defence; compulsory social security 13 469 2.8 18 560 4.2
Education  213 0.0  387 0.1
Human health and social work activities  613 0.1 1 910 0.4
Arts, entertainment and recreation  240 0.0  495 0.1
Other Service activities  381 0.1  805 0.2
Activities of extraterritorial organisations and bodies  145 0.0 20 0.0
Missing 1 961 0.4 1 811 0.4

Inward settlements compared to outgoing settlements

In the second quarter of 2012, the inward settlements were NOK 35 billion more than the outgoing settlements. The value of the incoming settlement flow was 7.6 per cent more than what was sent out of Norway.

Difference between incoming versus outgoing settlements in the last 5 quarters. Per cent
  2. quarter 2012 1. quarter 2012 4. quarter 2011 3. quarter 2011 2. quarter 2011
Total 7.6 -0.9 -4.6 5.7 10.6
The Nordic countries 5.9 -4.0 -3.2 5.5 1.2
Rest of the EU 4.2 5.2 -6.6 9.8 19.0
Rest of Europe -67.7 -64.4 -72.4 -61.8 -49.1
Africa -69.5 -86.7 -78.8 -39.0 -53.0
Asia -41.6 -40.6 -44.7 -33.8 -8.6
North- and Central America 87.4 41.1 74.5 60.1 42.6
South America -51.1 -68.6 -72.0 -43.3 -13.2
Oceania 1.9 -15.9 -35.4 -30.7 -40.0

As from the first quarter of 2011, these statistics adopted SIC2007 Standard Industrial Classification for grouping trade industries, while previous articles use SIC2002. This change in use of standards caused certain changes in the trade distributions, which accounts for the discrepancies from previous published numbers. This particularly concerns financial enterprises that were previously listed as non-financial enterprises.

Data series in StatBank Norway will be updated with the new standard. Please note that text and tables in previous articles will not be updated with the new standard, which means they are not directly comparable to Q1 2011 and onwards.

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 .