20621_not-searchable
/en/utenriksokonomi/statistikker/ur/arkiv
20621
Reduced current account surplus
statistikk
2007-09-04T10:00:00.000Z
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
false

International accounts, Q2 2007

Content

Published:

This is an archived release.

Go to latest release

Reduced current account surplus

According to preliminary figures, the current account surplus was NOK 71 billion in the second quarter of 2007, NOK 16.5 billion below the surplus in the second quarter of 2006.

Balance of payments 2005 - 2007 NOK billion

The trade balance in goods and services ended at NOK 89 billion, while there was a deficit in net income of NOK 18 billion.

Drop in balance of goods and services

There was a surplus in the balance of trade in goods of NOK 79.7 billion, NOK 8.4 billion below the trade balance in the second quarter of the previous year. The main reason for this drop is the decline in exports of oil and natural gas, due to reduced volume. Norway exported goods at the amount of NOK 198.5 billion in the second quarter of 2007. Imports of goods were NOK 118.8 billion, or 16 per cent higher than in the corresponding period of 2006.

Trade in services generated a surplus of NOK 9.7 billion in the second quarter of 2007. The exports of services were NOK 59 billion, 9 per cent above the second quarter last year. Imports of services rose by NOK 2.2 billion or 5 per cent compared to the second quarter last year.

High dividends

The balance of net income and current transfers was NOK - 18.4 billion in the second quarter of 2007, compared to NOK - 7.5 billion in the second quarter last year. The main explanation for the low deficit in the second quarter improvement is high dividends paid out to non-resident holders of stock shares in Norwegian companies.

Increased investments abroad

On the financial account the Norwegian investments abroad was NOK 121.6 billion, while non-residents' investments in Norway are estimated at 59.8 billion in the second quarter of 2007. Net outward direct investment transactions were NOK 22.6 billion, while net inward direct investment transactions were NOK 20 billion.

Preliminary estimates show that Norway's net external assets increased by NOK 6.9 billion in the second quarter of 2007.

Balance of payments. 1. quarter 2006 to 2. quarter 2007. Billion kroner
     2005    2006 1. quarter 2006 2. quarter 2006 3. quarter 2006 4. quarter 2006 1. quarter 2007 2. quarter 2007
Balance of goods and services  319  393  114 95 90 94 97 89
Balance of income and current transfers -18 -39 -35 -7 4 -1 -13 -18
Current account balance  301  354 79 88 94 93 84 71
Capital transfers etc. to abroad, net 2 1 0 1 0 0 0 1
Net lending  299  353 79 87 94 93 84 71
Direct investment, net 94 70 42 12 36 -20 44 3
Portifolio investment, net 42  497  160 -9  182  164 -9 -41
Other investment, net  101 -319 -97 46 -161 -107 22  107
Revaluations, net 76 12 -1 -75  159 -71 -49 -64
Increase in Norway's net assets  375  364 78 12  253 21 34 7

Quarterly balance of payments data for the period 1981-2007 are available in StatBank.