International accounts, Q4 2006

Drop in balance of goods and services

Norway's export of goods came to NOK 195.6 billion in the fourth quarter of 2006. Imports of goods came to NOK 117.4 billion, which is 18 per cent higher than in the corresponding period of 2005. The balance of trade in goods showed a surplus of NOK 78.1 billion, 10 per cent lower than in the fourth quarter of 2005.

Trade in services generated a surplus of NOK 10.7 billion in the fourth quarter of 2006. Exports of services came to NOK 55.6 billion, slightly lower than in the previous quarter, but NOK 4 billion higher than in the fourth quarter of 2005. Total imports of services were just below the level of the fourth quarter of 2005.

Income account surplus

The balance of net income and transfers was NOK 2.6 billion in the fourth quarter of 2006.

Increased investments abroad

Norwegian investments abroad reached NOK 197 billion, while investments in Norway by non-resident were estimated at NOK 138 billion in the forth quarter of 2006. Net outward direct investment transactions were negative at NOK 10 billion, while net inward direct investment transactions were positive at NOK 8 billion.

Preliminary estimates show that Norway's net external assets increased by NOK 35 billion in the forth quarter of 2006.

Revision of 2006 figures

The current account balance has been revised up by NOK 5 billion for the first three quarters of 2006. The balance of goods and services and the balance of income and transfers have been revised up by NOK 6 billion and NOK 1 billion respectively. In the financial account Norwegian investments abroad and foreign investments in Norway have both been revised up by NOK 12 billion. New and revised survey data are the main reason for the revisions.