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/en/utenriksokonomi/statistikker/betalstr/kvartal
255703
Decrease in settlement flows
statistikk
2016-05-24T10:00:00.000Z
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, Q1 2016

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Decrease in settlement flows

Both inward and outward bank settlement flows decreased from the fourth quarter of 2015 to the first quarter of 2016. The largest decrease was for ingoing transfers.

External settlements for non-financial enterprises and private individuals, NOK millionPublished 24 May 2016
1st quarter 2016Change in per centChange in per cent
NOK million4th quarter 2015 - 1st quarter 20161st quarter 2015 - 1st quarter 2016
Incoming value518 032-14.60.2
Outgoing value582 145-3.212.9

Source: Statistics Norway

Settlements from foreign countries to Norwegian bank accounts amounted to NOK 518 billion in the first quarter of 2016. This was a decrease of 14.6 per cent, equivalent to NOK 88 billion from the fourth quarter of 2015. 

Outgoing settlements showed a decrease of 3.2 per cent, or NOK 19 billion, from the fourth quarter of 2015. The total settlements sent from Norwegian non-financial enterprises and private persons to foreign countries reached NOK 582 billion. 

However, compared with the first quarter of 2015, incoming settlements decreased by NOK 1 billion. This was a decrease of 0.2 per cent. In the same period, outgoing settlements increased by 12.9 per cent, going up by NOK 66 billion.

Decreased settlements from EU countries except Nordic countries

The decrease in the inward settlements was mainly due to a reduction in transfers from EU countries except Nordic countries, which decreased by NOK 48 billion, or 17.2 per cent, from the fourth quarter of 2015. The inward settlements from EU countries except Nordic countries ended at NOK 230 billion in the first quarter of 2016. The inward settlements from Nordic countries ended at NOK 195 billion in the first quarter of 2016; a decrease of 13.9 per cent from the previous quarter. 1

Bank transfers from Norway to EU countries except Nordic countries decreased by NOK 21 billion from the fourth quarter of 2015; down by 7.8 per cent.

Decreased transfers to the mining and quarrying industry, and electricity, gas and steam

Enterprises within the mining and quarrying industry received NOK 59 billion from abroad in the first quarter of 2016. This was a decrease of NOK 22 billion from the fourth quarter of 2015, equivalent to a decrease of 27.6 per cent. Bank transfers to enterprises within electricity, gas and steam also decreased, and received NOK 18 billion less than in the previous quarter. 

Norwegian enterprises sent NOK 570 billion abroad in the first quarter of 2016, which was NOK 19 billion less than in the fourth quarter of 2015. In particular, enterprises within the mining and quarrying industry, and wholesale and retail trade: repair of motor vehicles and motorcycles had a decrease in settlements to foreign countries, by NOK 27 billion and NOK 14 billion respectively.

1 Correction in text 24 May.