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/en/utenriksokonomi/statistikker/betalstr/kvartal
149865
Increase in settlement flows
statistikk
2014-02-21T10:00:00.000Z
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 2013

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Increase in settlement flows

Both inward and outward bank settlement flows increased from the third to the fourth quarter of 2013. The largest increase was for outgoing transfers.

External settlements for non-financial enterprises and private individuals, NOK millionPublished 21 February 2014
4th quarter 2013Change in per centChange in per cent
NOK million3rd quarter 2013 - 4th quarter 20134th quarter 2012 - 4th quarter 2013
Incoming value585 37720.520.6
Outgoing value594 15721.622.0

Source: Statistics Norway

Settlements from foreign countries to Norwegian bank accounts amounted to NOK 585 billion in the fourth quarter of 2013. This was an increase of 20.5 per cent; a rise of NOK 100 billion from the third quarter.

Outgoing settlements showed an increase of about 21.6 per cent, or NOK 106 billion, from the third quarter. The total settlements sent from Norwegian non-financial enterprises and private persons to foreign countries reached NOK 594 billion.

However, compared with the fourth quarter of 2012, incoming settlements increased by NOK 100 billion. This was an increase of 20.6 per cent. In the same period, outgoing settlements increased 22.0 per cent, going up by NOK 107 billion.

Increased settlements from EU countries except Nordic countries

The increase in the inward settlements was mainly due to a rise in transfers from EU countries except Nordic countries, which went up by NOK 60 billion from the third quarter. The inward settlements from EU countries except Nordic countries ended at NOK 282 billion in the fourth quarter; an increase of 27.3 per cent from the previous quarter.

Outgoing bank transfers from Norway to EU countries except Nordic countries increased by NOK 41 billion from the previous quarter; a rise of 17.5 per cent.

Increased transfers to industry

Enterprises within industry received NOK 177 billion from abroad in the fourth quarter. This was an increase of NOK 39 billion from the third quarter, equivalent to an increase of 28.8 per cent. Bank transfers to the mining and quarrying industry also increased, with NOK 49 billion more than in the previous quarter. Transfers to the information and communication industry were reduced the most, and went down by NOK 16 billion; a 49.6 per cent decrease from the previous quarter.

Norwegian enterprises sent NOK 584 billion abroad in the fourth quarter of 2013, which was NOK 105 billion more than in the third quarter. Enterprises within manufacturing and mining and quarrying in particular increased their settlements to foreign countries, which increased by NOK 38 billion and NOK 20 billion respectively.

Inward transfers lower than outward transfers

Bank settlements from Norway to foreign countries surpassed the amount being sent to Norway. The inward settlement was 1.5 per cent lower than the outward settlements, meaning that NOK 9 billion more money was sent out of Norway than was sent into Norway.