Balance of payments, geographical breakdown, 1999-2000

The deficit with Europe last year is estimated at NOK 22 billion. The surplus with American countries was NOK 26 billion, mainly due to freight earnings of Norwegian shipping companies. These are results from the geographical broken down Balance of Payments statistics, which are published by Statistics Norway for the first time.

Norway's international trade in services credit amounted to NOK 132 billion in year 2000, of which 60 per cent was exports to European countries and 30 per cent to North-America. The Nordic countries' imports of services from Norway are estimated at NOK 17 billion in 2000. This is nearly 20 per cent of Norway's total exports of services to Europe. Exports to other EEA countries amounted to NOK 55 billion.

Sea transport

Income from maritime transport operations is the single most important credit item in Norway's international trade in services. More than 50 per cent of total exports of services in 2000 were freight earnings. Freight earnings are of relative high importance in trade with overseas continents, constituting more than 70 per cent of services credit in trade with both the American and Asian continents, while only 40 per cent of total exports of services to European countries.

Imports of services

On the debit side European countries are Norway's most important partners in trade in services. Imports of services from these countries ended at NOK 100 billion in 2000. Imports from other continents were about NOK 30 billion, of which almost one half was imports from North-America.

Tables:

• Table 1 Balance of Payments, geographical breakdown, 1999. NOK million kroner
• Table 2 Balance of Payments, geographical breakdown, 2000. NOK million kroner