218583_not-searchable
/en/utenriksokonomi/statistikker/betalstr/kvartal
218583
Decrease in settlement flows
statistikk
2015-05-21T10:00:00.000Z
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
The purpose of the statistics is to indicate main features of cross border economical activity between Norway and foreign countries.

Cash flows between Norway and abroad, Q1 2015

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Decrease in settlement flows

Both inward and outward bank settlement flows decreased from the fourth quarter of 2014 to the first quarter of 2015. The largest decrease was for outgoing transfers.

External settlements for non-financial enterprises and private individuals, NOK millionPublished 21 May 2015
1st quarter 2015Change in per centChange in per cent
NOK million4th quarter 2014 - 1st quarter 20151st quarter 2014 - 1st quarter 2015
Incoming value516 905-11.3-0.5
Outgoing value515 538-19.8-4.6

Source: Statistics Norway

Settlements from foreign countries to Norwegian bank accounts amounted to NOK 517 billion in the first quarter of 2015. This was a decrease of 11.3 per cent; a decrease of NOK 66 billion from the fourth quarter of 2014.

Outgoing settlements showed a decrease of 19.8 per cent, or NOK 128 billion, from the fourth quarter of 2014. The total settlements sent from Norwegian non-financial enterprises and private persons to foreign countries reached NOK 516 billion.

However, compared with the first quarter of 2014, incoming settlements decreased by NOK 3 billion. This was a decrease of 0.5 per cent. In the same period, outgoing settlements decreased 4.6 per cent, going down by NOK 25 billion.

Decreased settlements from Nordic countries

The decrease in the inward settlements was mainly due to a reduction in transfers from Nordic countries, which decreased by NOK 31 billion, or 14.8 per cent, from the fourth quarter of 2014. The inward settlements from Nordic countries ended at NOK 179 billion in the first quarter of 2015. The inward settlements from EU countries except Nordic countries ended at NOK 245 billion in the first quarter of 2015; a decrease of 8.6 per cent from the previous quarter.

Bank transfers from Norway to Nordic countries decreased by NOK 58 billion from the fourth quarter of 2014; down by 24.2 per cent.

Decreased transfers to industry

Enterprises within industry received NOK 140 billion from abroad in the first quarter of 2015. This was a decrease of NOK 26 billion from the fourth quarter of 2014, equivalent to a decrease of 15.7 per cent. Bank transfers to the mining and quarrying industry were also decreased, and received NOK 36 billion less than in the previous quarter.

Norwegian enterprises sent NOK 506 billion abroad in the first quarter of 2015, which was NOK 127 billion less than in the fourth quarter of 2014. Enterprises within industry and the mining and quarrying industry saw a particular decrease in settlements to foreign countries, by NOK 45 billion and NOK 15 billion respectively.

Inward transfers slightly higher than outward transfers

Bank settlements to Norway from foreign countries were slightly higher than the amount sent from Norway. In total for the first quarter of 2015, inward transfers surpassed the amount sent out of Norway by NOK 1 billion.