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NOK 94 billion current account surplus
statistikk
2006-09-05T10:00:00.000Z
External economy;National accounts and business cycles;External economy
en
ur, International accounts, current account balance, direct investments, operational and capital accounts, financial accounts, investment abroad, foreign investment, transactions, stocks, financial assets, liabilities, portofolio investment, financial investments, revaluations, current account balance, balance of income and current transfers, reinvested earnings, net assets, BOP geographical breakdown, balance of goods, balance of services, BOP, IIP, balance of payments, international investment positionBalance of payments, National accounts , Foreign assets and liabilities , National accounts and business cycles, External economy
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International accounts, Q2 2006

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NOK 94 billion current account surplus

According to preliminary figures Norway's current account surplus increased by 5 billion to NOK 94 billion from the first quarter to the second quarter this year. Compared with the second quarter 2005, the surplus rose by NOK 38 billion.

Balance of payments. 2005-2006

According to preliminary figures, the balance of goods and services was NOK 99.7 billion in the second quarter of 2006, compared with 115.9 billion the first quarter. The balance of goods and the balance of services ended at NOK 89.6 billion and NOK 10.1 billion respectively. Compared with second quarter last year the goods and services balance rose by NOK 25 billion, the most important single factor being the rise in oil prices.

The balance of trade in services increased in the second quarter of 2006 compared with second quarter of 2005, but was slightly reduced compared with the previous quarter this year. Compared with the corresponding quarter of 2005, exports of oil drilling services, business services and other services increased the most.

Reduced dividends to abroad

The balance of net income and transfers is estimated at a deficit of NOK 6,0 billion for the second quarter of 2006, a clear reduction in deficit compared both to the second quarter last year and the first quarter this year. A main factor has been the substantial drop in dividends paid out to non-resident owners of Norwegian companies compared to the outflow during the first quarter.

Financial account transactions

On the financial account the Norwegian investments abroad reached just below NOK 231 billion, while non-residents investments in Norway are estimated at 187 billion in the second quarter of 2006. Outward and inward direct investments transactions ended at NOK - 6.3 billion and NOK 2.4 billion respectively.

Preliminary estimates show that Norway's net external assets increased by NOK 52 billion in the second quarter of 2006 and were estimated at NOK 1 257 billion at the end of the quarter.

Revised figures

Please take notice of revised figures for the first quarter of 2006 due to updated information. Also financial accounts data for 2005 are revised.

Balance of payments. 2. quarter 2005 to 2. quarter 2006. NOK billion
     2005    2. quarter 2005    3. quarter 2005    4. quarter 2005    1. quarter 2006    2. quarter 2006
Balance of goods and services  328 75 79 96  116  100
Balance of income and current transfers -12 -19 1 9 -28 -6
Current account balance  317 56 80  105 88 94
Capital transfers etc. to abroad, net 4 0 - 3 0 0
Net lending  312 55 80  102 88 93
Direct investment, net 82 20 16 43 9 -9
Portifolio investment, net 81  197 -55 -73  166 -19
Other investment, net  111 -188  159  103 -88 47
Revaluations, net 57 11 -20 67 -92 -41
Increase in Norway`s net assets  370 67 60  168 -4 52
International investment position, net 1 209  980 1 040 1 209 1 205 1 257