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200389
Positive current account surplus with the EU
statistikk
2014-11-03T10:00:00.000Z
External economy
en
urland, Balance of payments, geographical breakdown, balance of goods, balance of services, current balance, export, importBalance of payments, External economy
false
The statistics show the yearly Norwegian current account balance by geographical breakdown.

Balance of payments, geographical breakdown, 2013

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Positive current account surplus with the EU

In 2013, Norway’s total current account surplus towards the rest of the world was NOK 334 billion, of which NOK 294 billion was a surplus towards the EU.

Balance of Payments, country breakdown. Current prices. NOK millionPublished 3 November 2014
Balance of goodsBalance of servicesCurrent account balance
201220132012201320122013
The world421 028366 295-33 451-43 482417 205333 567
EU (27 countries)434 778396 798-50 114-59 254366 553293 847
Other European countries678-1 717-8 416-10 152-13 627-7 788
Africa969-2 9145 5495 58037 40117 138
North-America8 3427 154104-97323 44332 208
Central- and South America-1 847-2 8075 8315 54814 95815 599
Asia, Oceania & Polar regions-12 356-22 0588 83611 55118 23615 529

Source: Statistics Norway

A positive trade balance with the EU is dominated by the high export earnings from the oil and gas industry. A negative service balance is primarily due to Norwegians’ expenses when travelling to EU countries.

For more information about the geographical breakdown of Norwegian export and import of goods, see External trade in goods.

Negative trade balance in services with Europe

Imports of travel, i.e. Norwegians' spending on travel abroad, was the main reason for the negative service balance towards the EU. In 2013, Norwegians spent NOK 80 billion on travel in the EU, while visitors from EU countries spent NOK 26 billion in Norway. Excluding travel expenses, the balance of services trade with the EU was still negative, at NOK 6 billion. With all other parts of the world except North America, there was a positive trade in services balance and it was largest towards the countries of Asia and Oceania, amounting to NOK 12 billion in 2013.

Negative interest and transfers balance to the EU

Norway's revenues in the form of wages, property income and transfers from the EU countries were NOK 123 billion in 2013. The equivalent income payable to the EU countries was NOK 167 billion. Towards countries outside EU, Norway gained a surplus for these kinds of income, and towards the world in total the corresponding figure was a surplus of NOK 11 billion.