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113 billion in current account surplus
statistikk
2008-03-04T10:00:00.000Z
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, Q4 2007

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113 billion in current account surplus

According to preliminary figures the current account surplus was NOK 113 billion in the fourth quarter of 2007, NOK 13 billion above the surplus in the fourth quarter of 2006.

The current account surplus for the whole of 2007 ended at NOK 372 billion, slightly below the 2006 surplus.

Balance of payments 2006 - 2007 NOK billion

An increased surplus in balance of goods and services

There was a surplus in the balance of trade in goods of NOK 92 billion, almost NOK 10 billion above the trade balance for goods in the fourth quarter of 2006. The improvement was mainly due to the effect of higher prices on exports of oil and natural gas. Norway exported goods at the amount of NOK 221 billion in the fourth quarter of 2007, about 10 per cent above the same quarter in 2006. The value of imported goods was NOK 129 billion, or 9.4 per cent higher than in the corresponding period of 2006.

Trade in services generated a surplus of NOK 14 billion in the fourth quarter of 2007. The exports of services were NOK 67 billion, 13 per cent above the fourth quarter 2006. Imports of services rose more slowly and ended at NOK 53 billion.

A net income account surplus

There was a positive net balance of income and current transfers of NOK 7 billion in the fourth quarter of 2007, the same as in the fourth quarter in 2006. On an annual basis the income account showed in 2007 a net deficit of NOK 5 billion, compared to a deficit of 20 billion in 2006.

Financial account transactions

According to the financial account the Norwegian investments abroad was NOK 67 billion, while non-residents' investments in Norway are estimated at 29 billion in the fourth quarter of 2007. Net outward direct investment transactions were NOK 4 billion, while net inward direct investment transactions were NOK 25 billion.

Balance of payments. 1. quarter 2006-4. quarter 2007. NOK billion
  2006 2007 1. quarter 2006 2. quarter 2006 3. quarter 2006 4. quarter 2006 1. quarter 2007 2. quarter 2007 3. quarter 2007 4. quarter 2007
Balance of goods and services  393  377  117 96 88 93 98 90 83  106
Balance of income and current transfers -20 -5 -33 -3 9 7 -12 -15 14 7
Current account balance  373  372 83 93 97  100 86 75 98  113
Capital transfers etc. to abroad, net 1 1 0 1 0 0 0 1 0 0
Net lending  372  371 83 92 97  100 86 74 98  113
Direct investment, net 94 62 46 18 44 -14 42 12 28 -20
Portifolio investment, net  479  193  161 -19  178  159 -5 -57  205 50
Other investment, net -323 -8 -96 45 -160 -112 24  133 -189 23
Revaluations, net -77 -207 -76 -72  157 -86 -53 -60 -94 0
Increase in Norway`s net assets  295  164 8 20  254 14 33 14 4  113

Quarterly balance of payments data for the period 1994-2007 are available in StatBank.