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227124
Increase in settlement flows
statistikk
2015-08-21T10:00:00.000Z
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 show the main features of cross border economical activity between Norway and foreign countries.

Cash flows between Norway and abroad, Q2 2015

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Increase in settlement flows

Both inward and outward bank settlement flows increased from the first quarter of 2015 to the second quarter of 2015. The largest increase was for outgoing transfers.

External settlements for non-financial enterprises and private individuals, NOK millionPublished 21 August 2015
2nd quarter 2015Change in per centChange in per cent
NOK million1st quarter 2015 - 2nd quarter 20152nd quarter 2014 - 2nd quarter 2015
Incoming value547 0225.811.8
Outgoing value554 2597.510.1

Source: Statistics Norway

Settlements from foreign countries to Norwegian bank accounts amounted to NOK 547 billion in the second quarter of 2015. This was an increase of 5.8 per cent; an increase of NOK 30 billion from the first quarter of 2015.

Outgoing settlements showed an increase of 7.5 per cent, or NOK 39 billion, from the first quarter of 2015. Total settlements sent from Norwegian non-financial enterprises and private persons to foreign countries were NOK 554 billion.

Compared with the second quarter of 2014, incoming settlements increased by NOK 58 billion. This was an increase of 11.8 per cent. In the same period, outgoing settlements increased by 10.1 per cent, going up NOK 51 billion.

Increased settlements from Nordic countries

The increase in the inward settlements was mainly due to an increase in transfers from Nordic countries, which increased by NOK 42 billion, or 23.3 per cent, from the first quarter of 2015. The inward settlements from Nordic countries ended at NOK 221 billion in the second quarter of 2015. The inward settlements from EU countries except Nordic countries ended at NOK 233 billion in the second quarter of 2015; a decrease of 4.9 per cent from the previous quarter.

Bank transfers from Norway to Nordic countries increased by NOK 22 billion from the first quarter of 2015; up 12.2 per cent.

Increased transfers to industry and mining and quarrying

Enterprises within industry received NOK 146 billion from abroad in the second quarter of 2015. This was an increase of NOK 6 billion from the first quarter of 2015, equivalent to an increase of 3.9 per cent. Bank transfers to the mining and quarrying industry also increased, and received NOK 31 billion more than in the previous quarter; up 42.2 per cent.

Norwegian enterprises sent NOK 543 billion abroad in the second quarter of 2015, which was NOK 38 billion more than in the first quarter of 2015. Enterprises within electricity, gas and steam and the mining and quarrying industry saw a particular increase in settlements to foreign countries, by NOK 12 billion and NOK 9 billion respectively.

Outward transfers slightly higher than inwards

Bank settlements from Norway to foreign countries slightly surpassed the amount being received from abroad. In total for the second quarter of 2015, outward transfers surpassed the amount received by Norway by NOK 1 billion.