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20619
Higher income from abroad
statistikk
2007-12-04T10:00:00.000Z
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
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International accounts, Q3 2007

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Higher income from abroad

The surplus in the balance of income and transfers was NOK 17.8 billion in the third quarter of 2007. This is more than a doubling from the corresponding period last year. The increase was mainly due to increased income from abroad, and had a positive effect on the current account surplus.

Balance of payments 2005-2007. NOK billion

The surplus in the balance of income and transfers was NOK 9.1 billion higher in the third quarter of 2007 than in the corresponding period last year. In the same period, total income from abroad increased by 23 per cent, while total expenditure rose by a modest 6.5 per cent. This had a positive effect on the current account, which came to NOK 100 billion.

The balance of income and transfers shows the same trend in the first three quarters of 2007 as in the two previous years; a deficit in the first and second quarter followed by a surplus in the third quarter.

Reduced surplus in the trade balance

The trade balance in goods and services ended at NOK 82.2 billion, NOK 6.1 billion less than in the third quarter of 2006.

The value of total exports of goods was NOK 193.5 billion in the third quarter of 2007, NOK 5.2 billion above the same quarter last year. Norway’s import of goods came to NOK 113.6 billion, an increase of 13 per cent from the corresponding period in 2006.

Trade in services generated a surplus of NOK 2.4 billion in the second quarter of 2007. Exports of services came to NOK 61.1 billion, while imports came to NOK 58.7 billion.

Increased investments abroad

Norway’s total investments abroad were NOK 242.6 billion in the third quarter, while non-residents' investments in Norway are estimated at NOK 190.5 billion. Net outward direct investment transactions were NOK 16.9 billion, while net inward direct investment transactions were fell by NOK 22.7 billion.

Preliminary estimates show that Norway's net external assets increased by NOK 26 billion in the third quarter.

Balance of payments. 1. quarter 2006-3. quarter 2007. NOK billion
  2005 2006 1. quarter 2006 2. quarter 2006 3. quarter 2006 4. quarter 2006 1. quarter 2007 2. quarter 2007 3. quarter 2007
Balance of goods and services  321       393  116 96 88 93 98 90 82
Balance of income and current transfers -4 -20 -34 -3 9 7 -12 -12 18
Current account balance  317  373 83 93 97  100 86 79  100
Capital transfers etc. to abroad, net 2 1 0 1 0 0 0 1 0
Net lending  315  373 83 93 97  100 86 78  100
Direct investment, net  108 88 47 19 43 -21 57 4 40
Portifolio investment, net 32  482  161 -18  178  161 -5 -48  175
Other investment, net  106 -310 -99 44 -161 -95 20 92 -167
Revaluations, net 73 -67 -64 -74  156 -85 -48 -58 -74
Increase in Norway`s net assets  388  306 19 19  253 15 38 20 26

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