Cash flows between Norway and abroad
Updated: 24 August 2023
Next update: 23 November 2023
| NOK million | Change in per cent | ||
|---|---|---|---|
| 2nd quarter 2023 | 1st quarter 2023 - 2nd quarter 2023 | 2nd quarter 2022 - 2nd quarter 2023 | |
| Incoming value | 1 194 559 | -6.8 | -0.8 |
| Outgoing value | 1 105 231 | -3.9 | 7.2 |
Selected tables and charts from this statistics
- External settlements for non-financial enterprises and private individuals, by regionDownload table as ...External settlements for non-financial enterprises and private individuals, by region
2nd quarter 2023 Share Change in per cent NOK million Per cent 1st quarter 2023 - 2nd quarter 2023 2nd quarter 2022 - 2nd quarter 2023 Incoming value All countries 1 194 559 100.0 -6.8 -0.8 Nordic countries except Norway 460 190 38.5 -16.4 2.6 EU countries excl. Nordic countries 367 418 30.8 -3.1 -24.1 Rest of Europe 189 120 15.8 -3.4 28.1 Africa 2 778 0.2 5.1 59.3 Asia 38 668 3.2 2.8 -3.5 Northern, Central America and the Caribbean 129 697 10.9 17.6 66.8 South America, total 2 968 0.2 25.1 33.0 Oceania 3 721 0.3 -0.5 28.1 Outgoing value All countries 1 105 231 100.0 -3.9 7.2 Nordic countries except Norway 429 937 38.9 -9.6 14.1 EU countries excl. Nordic countries 351 336 31.8 -2.9 8.8 Rest of Europe 191 622 17.3 4.9 1.7 Africa 5 668 0.5 1.4 -4.0 Asia 35 768 3.2 -7.3 -7.1 Northern, Central America and the Caribbean 84 499 7.6 4.1 -7.7 South America, total 2 818 0.3 42.1 -6.8 Oceania 3 583 0.3 3.6 3.8 Explanation of symbolsDownload table as ... - External settlements between Norway and abroad for non-financial enterprises, by industryDownload table as ...External settlements between Norway and abroad for non-financial enterprises, by industry
2nd quarter 2023 Incoming value Outgoing value NOK million Per cent NOK million Per cent Total 1 181 231 100.0 1 091 886 100.0 Agriculture, forestry and fishing 22 124 1.9 13 735 1.3 Mining and quarrying 351 282 29.7 194 837 17.8 Manufacturing 208 785 17.7 181 331 16.6 Electricity, gas and steam 211 522 17.9 208 608 19.1 Water supply, sewerage, waste 2 858 0.2 1 801 0.2 Construction 10 608 0.9 15 106 1.4 Wholesale and retail trade: repair of motor vehicles and motorcycles 135 992 11.5 192 698 17.6 Transportation and storage 83 570 7.1 63 243 5.8 Accommodation and food service activities 8 383 0.7 8 161 0.7 Information and communication 56 235 4.8 107 010 9.8 Real estate activities 13 634 1.2 10 273 0.9 Professional, scientific and technical activities 33 693 2.9 38 975 3.6 Administrative and support service activities 14 913 1.3 18 747 1.7 Public administration and defence 9 533 0.8 17 371 1.6 Education 924 0.1 985 0.1 Human health and social work activities 4 379 0.4 6 023 0.6 Arts, entertainment and recreation 1 330 0.1 2 013 0.2 Other service activities 1 089 0.1 1 737 0.2 Activities of extraterritorial organisations and bodies 304 0.0 31 0.0 Unknown industry 10 073 0.9 9 201 0.8 Explanation of symbolsDownload table as ... - Difference between incoming versus outgoing settlements in the last 5 quarters. Per centDownload table as ...Difference between incoming versus outgoing settlements in the last 5 quarters. Per cent
2nd quarter 2022 3rd quarter 2022 4th quarter 2022 1st quarter 2023 2nd quarter 2023 All countries 16.9 19.5 8.5 11.4 8.1 Nordic countries except Norway 18.9 22.9 22.1 15.8 7.0 EU countries excl. Nordic countries 49.9 36.4 4.3 4.9 4.6 Rest of Europe -21.6 -14.3 -24.8 7.2 -1.3 Africa -70.5 -44.3 -71.0 -52.7 -51.0 Asia 4.0 -2.8 -16.9 -2.5 8.1 Northern, Central America and the Caribbean -15.1 20.9 58.8 35.9 53.5 South America, total -26.2 24.1 19.4 19.6 5.3 Oceania -15.9 -12.5 -4.8 8.1 3.9 Explanation of symbolsDownload table as ...
More figures from this statistics
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.
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External settlement/cross border settlement
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Transfer of money between Norway and abroad.
Financial enterprise
A financial enterprise is an enterprise in one of these three industries in Classification of Standard Industrial Classification
- Industrial code 64: Financial service activities, except insurance and pension funding
- Industrial code 65: Insurance, reinsurance and pension funding, except compulsory social activities
- Industrial code 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.
Norwegian/domestic resident
- Legal persons registered as Norwegian, including foreign owned companies registered as Norwegian.
- Foreign company's affiliates in Norway.
- Physical persons permanently residing in Norway, regardless of citizenship.
Foreign/foreigner
- Legal persons registered abroad, including Norwegian owned companies that are registered abroad.
- Norwegian companies' affiliates abroad.
- 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
National level.
Quarterly. Time for publication is around 50 days after the end of the quarter.
Not relevant
Collected and revised data are stored securely by Statistics Norway in compliance with applicable legislation on data processing.
Statistics Norway can grant access to the source data (de-identified or anonymised microdata) on which the statistics are based, for researchers and public authorities for the purposes of preparing statistical result and analyses. Access can be granted upon application and subject to conditions. Refer to the details about this at Access to data from 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 before they are relased at 8 a.m. on ssb.no after at least three months' advance notice in the Statistics Release Calendar. This is one of the most important principles in Statistics Norway for ensuring the equal treatement of users.
Not relevant
The statistics are developed, produced and disseminated pursuant to Act no. 32 of 21 June 2019 relating to offcial statistics and Statistics Norway (the Statistics Act).
The statistics are part of the national program for official statistics 2021-2023, main area Foreign economy, sub-area economic globalisation, Cash flows between Norway and aboard.
EØS-obligation: No
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 are a count of all cross-border bank transfers via Norwegian banks between abroad and non-financial enterprises and private individuals in Norway, a total counting.
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, but otherwise we do not edit the data. Editing is defined here as checking, examining and amending data.
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.
Not relevant
Employees of Statistics Norway have a duty of confidentiality.
Statistics Norway does not publish figures if there is a risk of the respondent’s contribution being identified. This means that, as a general rule, figures are not published if fewer than three units form the basis of a cell in a table or if the contribution of one or two respondents constitutes a very large part of the cell total.
Statistics Norway can make exceptions to the general rule if deemed necessary to meet the requirements of the EEA agreement, if the respondent is a public authority, if the respondent has consented to this, or when the information disclosed is openly accessible to the public.
More information can be found on Statistics Norway’s website under Methods in official statistics, in the ‘Confidentiality’ section.
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.
The reporters may supply the currency register with incorrect information.
Big transactions may by accident be missing.
The statistics is a total count.
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, se also other reservations.
Not relevant
A revision is a planned change to figures that have already been published, for example when releasing final figures as a follow-up to published preliminary figures. See also Statistics Norway's principles for revisions
