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54176
Increased savings in Norway in 2010
statistikk
2011-03-02T10:00:00.000Z
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, 2010

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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Increased savings in Norway in 2010

Preliminary figures show that savings in Norway were NOK 487 billion, which is almost NOK 50 billion higher than the previous year. This is still considerably lower than in the years 2006-2008.

Sparing i Norge, fordelt på sektor, 2009* og 2010*

National income for Norway in 2010 was NOK 2 144 billion. This is nearly NOK 130 billion higher than in 2009. When including net transfers and benefits from abroad, disposable income totalled NOK 2 114 billion in 2010.

Gross domestic product (GDP) increased by NOK 124 billion in 2010, and this explains much of the rise in national income. For further details of GDP, see the link to KNR .

Savings in Norway are estimated at NOK 487 billion, which is an increase of NOK 47 billion. The savings rate; savings as share of disposable income, was 23 per cent, about the same as in 2009. This is clearly lower than the savings rate from 2005 to 2008.

Continued increase in disposable real income for households

Disposable income for households and non-profit institutions serving households was NOK 1 125 billion in 2010, which is an increase of 5.8 per cent compared with the previous year. Disposable real income also showed an increase in 2010 and was 3.8 per cent higher than the year before. Increase in compensation of employees, payments and benefits from general government and net property income contributed to the growth in real disposable income.

Savings of households increased by NOK 2.6 billion and were about NOK 82.9 billion in 2010. Savings’ share of disposable income, the saving rate, is measured at 7.4 per cent, about the same as in 2009.

For more information about the household sector, go to National accounts, quarterly sector accounts.

Increased savings in general government and enterprises

General government’s share of total savings was 61 per cent in 2010, about the same as the previous year. The savings in central government increased by 31 per cent from 2009 to 2010 and ended at NOK 299 billion. The savings in the central government were 35 per cent in 2010, a slight increase from 2009. This is in contrast to local government which has low savings. Both in 2009 and 2010, saving and net investment in the local government were negative, while savings in the general government as a whole were positive.

The preliminary figures for 2010 show a saving in the corporate sector of NOK 105 billion. This is an increase of 15 per cent from the year before.

Some selected national account figures. NOK million
 
 2009  2010Growth in per cent
 
For Norway   
GDP2 380 851  2 505 0765.2
Disposable income for Norway1 987 682  2 114 6466.4
Saving for Norway 439 315   486 97710.8
    
Disposable real income1 537 120  1 600 9234.2
Savings rate in per cent22.1  23.0..
    
Households and NPISH   
Disposable income1 063 920  1 125 2225.8
Consumption in households and NPISH1 015 261  1 072 5755.6
Saving80 256  82 8973.3
    
Disposable real income 895 122   928 6933.8
Savings rate in per cent7.5  7.4..
    
General government   
Disposable income 801 061   854 2986.6
Consumption in general government 533 106   555 0944.1
Saving 267 955   299 20411.7
    
Savings rate in per cent33.5  35.0..
    
Enterprises   
Disposable income 122 701   135 12610.1
Adjustment, household pension funds31 597  30 250-4.3
Saving91 104   104 87615.1
    
Savings rate in per cent74.3  77.6..
 

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