The statistics due to be published on 21 May 2021 have been postponed. The next release will be at 20 August 2021.
Cash flows between Norway and abroad
Updated: 20 November 2020
Next update: 20 August 2021
About the statistics
The statistics show Norwegian cross border payments made via Norwegian banks. The source is the tax authority’s currency register. The population includes cross border bank transfers where the Norwegian party is a non-financial enterprise or a private person.
External settlement/cross border settlement
Transfer of money between Norway and abroad.
Enterprise with a two digit industrial code 64 (financial service activities, except insurance and pension funding), 65 (insurance, reinsurance and pension funding, except compulsory social activities) or 66 (Activities auxiliary to financial services and insurance activities).
Non financial company
Enterprise with a two digit industrial code other than 64, 65 or 66. See Financial enterprise.
Legal persons registered as Norwegian, including foreign owned companies registered as Norwegian, and foreign company's affiliates in Norway, and physical persons permanently residing in Norway, regardless of citizenship.
Legal persons registered abroad, including Norwegian owned companies that are registered abroad, and Norwegian companies' affiliates abroad, and physical persons permanently residing abroad, regardless of citizenship.
From Q1 2008 to Q4 2010, the statistics was classified according to the Standard Industrial Classification 2002 (SIC2002), which is a Norwegian adaptation of NACE Rev.1 (EUROSTAT). As from Q1 2011, the standard has been replaced by the Standard Industrial Classification 2007 (SIC2007), which is a Norwegian adaptation of NACE Rev. 2 (EUROSTAT). SIC2007 forms the basis for coding units according to principal activity in the Central Register of Establishments and Enterprises. The use of common standards is essential in enabling the comparison and analysis of statistical data at national/international level and over time.
Name: Cash flows between Norway and abroad
Topic: External economy
Division for External Trade Statistics
Quarterly. Time for publication will be approximately 50 days after the expiration of the reference period.
The microdata which this statistics are based on are stored with Statistics Norway.
The Register of Cross Border Transactions and Currency Exchange (The Currency Register) was established 01.01.2005. The register includes all boundary crossing settlements to and from Norway. The purpose of the register is first of all to be a controlling instrument to reveal cross border economical crime. The Norwegian Tax administration took over as the register owner from The Directorate of Customs and Excise in January 2016.
This statistics is based on information from the Currency Register. The purpose with the statistics is to indicate main features of cross border economical activity between Norway and foreign countries. The first statistical period was 1 quarter 2008.
As from first quarter 2011, this statistics will refer to SIC2007 (see paragraph 4.2) as the Standard Industrial Classification of Economic Activities. In particular, this affected enterprises which were not registered with financial activities in SIC2002, but were not so using SIC2007, and vice versa. Because of this change in standards, there are certain changes in values from previous publications before Q1 2011.
Data series are recalculated according to the 2007 version of SIC, and updated results from 2008 are available in Statbank Norway. Please note that publications prior to Q1 2011 will not be updated by the new Standard Industrial Classification of Economic Activities, and are therefore not directly comparable to articles published Q1 2011 and forward.
This statistics apply to private persons and institutions interested in achieving insight into economic activity between Norway and foreign countries.
No external users have access to the statistics and analyses before they are published and accessible simultaneously for all users on ssb.no at 8 am. Prior to this, a minimum of three months' advance notice is given in the Statistics Release Calendar. See also Principles for equal treatment of users in releasing statistics and analyses principles for equal treatment
Norges Bank's Annual Report on customer related payment transfers is among other sources based on information from the Currency Register.
The Statistics Act, §§ 2-1 and Foreign Exchange register Act.
The settlements which this statistics is based on are reported to the register by Norwegian commercial banks. The population includes cross border bank transfers between Norway and other countries, where the Norwegian enterprises are classified as a non financial company (NACE 64, 65 and 66 are leaved out) or as a private person.
Enterprises that are classified in a different industry code other than 64-66, but mainly sharing characteristics of enterprises in these industries are also excluded.
The Norwegian Tax administration (The currency register).
The statistics is register based. The respondents are obliged to transmit detailed information about their cross border bank transactions to the currency register. Statistics Norway receives extensions from the register about thirty days after the expiration of the reference month.
There are some minor checks for consistence in the currency register. The data are merged with Statistics Norway's business register for identification and implementation of industrial code. No further revision.
Level numbers estimated by summing up. The figures are dispersed on respectively private individuals and non financial enterprises, and also on continents. The figure for Europe are further spread on the North, EU except Nordic countries, and the rest of Europe.
Statistics Norway's principles for confidentiality is used.
Due to the UK's withdrawal from the EU was formally completed on the 1 February 2020, there was a change in the statistics “Cash flows between Norway and abroad”. The UK has been moved from the region 'EU countries outside the Nordic countries' to the region 'Rest of Europe'. For the first quarter of 2020, bank transactions between Norway and the UK, which were completed in January, are registered in the region 'EU countries outside the Nordic countries'. Bank transactions between Norway and the UK as of 1 February 2020 are registered to the region 'Rest of Europe'.
The statistics was published for the first time first quarter of 2008. A set of standard tables make it possible to identify tendencies over time.
SIC2007 replaced SIC2002 as standard in Q1 2010. Time series from 2008 has been recalculated based on SIC2007, and are available in StatBank Norway.
Users of the data must ensure they use results based on the same version of SIC when making comparisons over time. Articles written prior to 2011 will not be updated by this new standard, and are therefore not directly comparable to articles from Q1 2011 and onwards.
Due to the UK's withdrawal from the EU was formally completed on the 1 February 2020, there was a change in the statistics “Cash flows between Norway and abroad”. The UK has been moved from the region "EU countries excl. Nordic countries" to the region "Rest of Europe". For the first quarter of 2020, bank transactions between Norway and the UK, which were completed in January, are registered in the region "EU countries excl. Nordic countries". Bank transactions between Norway and the UK as of 1 February 2020 are registered to the region "Rest of Europe".
The reporters may supply the currency register with incorrect information.
Big transactions may by accident be missing.
Enterprises may be classified with incorrect industrial code in the business register of Statistics Norway.
In the year 2005, several reporting entities did not give full reports to the Currency Register. SSB's data for this year will therefore not be disclosed for research purposes. The data for 2006 and 2007 are also somewhat incomplete, but better than in 2005, data for 2006 and 2007 can therefore be released for research purposes. From year 2008, we consider that the data is complete, cf. also other reservations.