90245_not-searchable
/en/utenriksokonomi/statistikker/betalstr/kvartal
90245
Decrease in external settlements from abroad
statistikk
2012-11-20T10:00:00.000Z
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 abroadQ3 2012

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Decrease in external settlements from abroad

Incoming settlements to Norway decreased by NOK 38 billion compared to the second quarter. During the same period, outgoing settlements increased by NOK 6 billion.

External settlements from abroad to non-financial enterprises and private persons in Norway ended at NOK 449 billion in the third quarter of 2012. This was a decrease of 8 per cent from the previous quarter. From the third quarter 2011 to the third quarter 2012 there was an increase of NOK 56 billion.

The third quarter of 2012 ended at NOK 459 billion in outward settlements. Compared to the previous quarter, this was a small increase of 1.4 per cent, which equalled NOK 6 billion. External settlements from Norway to abroad increased by NOK 87 billion from the third quarter 2011.

Dwindling transfers from North and Central America

From the second quarter to the third quarter in 2012 there was a large decrease in transfers from North and Central America to Norway. There was a 29 per cent reduction in the transferred value from the previous quarter, down NOK 21 billion. The Nordic countries transferred a total of NOK 176 billion, which was a reduction of NOK 18 billion.

Outward settlement flows from Norway increased slightly from the previous quarter, and went up by 1.4 per cent. Bank transfers to North and Central America decreased by nearly NOK 10 billion from the second quarter. The largest increase in outward transfers went to Asia, and increased by NOK 17 billion from the previous quarter. The Nordic and EU countries experienced a reduction in their external settlements from Norway, with a fall of NOK 6.7 billion and NOK 3.3 billion respectively.

Incoming cross border settlements through Norwegian banks Q3 2012
 
 Incoming cross border settlements through Norwegian banks Q3 2012
 Number of settlementsPercentNOK millionPercent
 
Total 683 161 100.0 448 834 100.0
The Nordic countries 367 11953.7 176 42239.3
Rest of the EU 230 95733.8 188 54742.0
Rest of Europe14 8672.24 2450.9
Africa1 5940.21 0550.2
Asia19 0252.822 9005.1
North and Central America45 4546.753 35911.9
South America1 3240.2 8530.2
Oceania2 8210.41 4530.3
 
 Outgoing cross border settlements through Norwegian banks Q3 2012
 Number of settlementsPercentNOK millionPercent
 
Total1 670 800 100.0 458 701 100.0
The Nordic countries 648 15538.8 177 11838.6
Rest of the EU 705 14942.2 187 11340.8
Rest of Europe45 4732.720 4844.5
Africa16 9371.02 1020.5
Asia 143 2778.638 7618.5
North and Central America96 0465.729 5716.4
South America7 4100.42 3460.5
Oceania8 3530.51 2050.3
 

Increased transfers to manufacturing enterprises

Non-financial enterprises received NOK 442 billion from abroad in external settlements during the third quarter of 2012. The manufacturing industry received nearly one third of these transfers, reaching NOK 137 billion. This was an increase of NOK 15 billion from the previous quarter.

The manufacturing industry was the largest contributor to Norway’s external settlement flows out of Norway, and transferred nearly NOK 136 billion out of the country; an increase of 11 per cent from the second quarter.

Figures for Q3 2012, by industry
 
SectionIncoming settlementsOutgoing settlements
NOK million      Per cent      NOK million      Per cent
 
Total 442 513 100.0 449 810 100.0
Agriculture, forestry and fishing3 7590.82 5480.6
Mining and quarrying81 16718.336 0448.0
Manufacturing 137 12431.0 135 70530.2
Electricity, gas, steam and air conditioning supply37 3338.441 8759.3
Water supply; sewerage, waste management and remediation activities 6670.2 3140.1
Construction1 1410.33 2070.7
Wholesale and retail trade; repair of motor vehicles and motorcycles43 7559.983 69718.6
Transportation and storage31 3107.127 2186.1
Accomodation and food service activities 9860.2 7400.2
Information and communication48 75711.058 65113.0
Real estate activities5 3271.25 0851.1
Professional, scientific and technical activities15 6593.515 3053.4
Administrative and support service activities22 9755.218 0394.0
Public administration and defence; compulsory social security9 6532.216 6053.7
Education 2120.0 3410.1
Human health and social work activities 5230.11 6150.4
Arts, entertainment and recreation 2370.1 4830.1
Other service activities 4150.1 6980.2
Activities of extraterritorial organisations and bodies 2120.0250.0
Missing1 3000.31 6160.4
 

Outgoing settlement flows were larger than inward settlements

Transfers from abroad to Norwegian non-financial enterprises and private persons were smaller than the amount that was transferred out of Norway. Inward settlements were 2.2 per cent lower than the outgoing settlements.

Difference between incoming versus outgoing settlements in the last 5 quarters. Per cent
 
 3. quarter 20122. quarter 20121. quarter 20124. quarter 20113. quarter 2011
 
Total-2.27.6-0.9-4.65.7
The Nordic countries-0.45.9-4.0-3.25.5
Rest of the EU0.84.25.2-6.69.8
Rest of Europe-79.3-67.7-64.4-72.4-61.8
Africa-49.8-69.5-86.7-78.8-39.0
Asia-40.9-41.6-40.6-44.7-33.8
North and Central America80.487.441.174.560.1
South America-63.7-51.1-68.6-72.0-43.3
Oceania20.61.9-15.9-35.4-30.7
 

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 .