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20577
High growth in household income
statistikk
2006-06-06T10:00:00.000Z
National accounts and business cycles
en
nri, Annual non-financial sector accounts, national accounts, general government, non-financial enterprises, financial enterprises, households, non-profit organisations, production, production price, operating profit, income, saving, saving rate, disposable income, FISM, net financial investments, dividendsNational accounts , National accounts and business cycles
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Annual non-financial sector accounts, national accounts, 2004-2005

A of 7 June 2017 the statistics will be published as Quarterly non-Financial sector accounts, national accounts.

The institutional sector accounts record economic transactions of the institutional sectors in national accounts. Non-financial and financial accounts by institutional sector is updated quarterly in StatBank.

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High growth in household income

The growth in households' disposable income was 7,9 1 per cent in 2005. Receivable dividends contributed significantly to the growth. Disposable income for Norway in 2005 showed a growth of 11.8 per cent.

The figures in the Institutional Sector Account have been revised since the last publication in March 2006. The figures are still preliminary.

Household savings ratio

Growth in disposable income, per cent

Disposable income and savings for Norway

Norway had a growth in disposable income of 11.8 per cent from 2004 to 2005. Disposable income for Norway is currently estimated at NOK 1 645 billion for 2005. The significant growth in 2000, 2004 and 2005 is related to strong growth in the prices of many export products, in particular oil and gas. The savings ratio for Norway increased from 23.1 per cent in 2004 to 28.1 per cent in 2005.

Households and NPISHs

The household sector's savings ratio was 12.6 1 per cent in 2005. This is the highest observed savings ratio in the period 1978-2005. The high ratio was strongly affected by received dividend payments. The high dividends are probably related to an announced change in the Norwegian tax system. Since 2002, the income from dividends has been tax-free. From 2006, income from dividends above a risk-free rate of return will be taxed as ordinary income. Net lending in the household sector was NOK 66.6 1 billion in 2005, compared to NOK 45.8 billion in 2004.

1  Corrected 6 June 2006 at 1130.