Balance of payments, geographical breakdown, 2002

The deficit with Europe last year is estimated at NOK 28 billion. The surplus with American countries was NOK 29 billion, mainly due to freight earnings of Norwegian shipping companies.

Norway's international trade in services credit amounted to NOK 153 billion in 2002, of which 60 per cent was exports to European countries and 30 per cent to North-America. The Nordic countries' imports of services from Norway are estimated at NOK 24 billion in 2002. This is nearly 25 per cent of Norway's total exports of services to Europe. Exports to other EEA countries amounted to NOK 67 billion.

Sea transport

Income from maritime transport operations is the single most important credit item in Norway's international trade in services. About 46 per cent of total exports of services in 2002 were freight earnings. Freight earnings are of relative high importance in trade with overseas continents, constituting more than 60 per cent of services credit in trade with both the American and Asian continents, while only 36 per cent of total exports of services to European countries.

Imports of services

On the debit side European countries are Norway's most important partners in trade in services. Imports of services from these countries ended at NOK 105 billion in 2002. Imports from other continents were about NOK 27 billion, of which about 60 per cent were imports from North America.

Please notice that the figures for 1999 and 2000 have been revised.

Tables:

• Table 1 Balance of payments, geographical breakdown. 1999. Million NOK
• Table 2 Balance of payments, geographical breakdown. 2000. Million NOK
• Table 3 Balance of payments, geographical breakdown. 2001. Million NOK
• Table 4 Balance of payments, geographical breakdown. 2002. Million NOK