Less money was transferred both to and from Norway from Q4 last year to the first quarter of this year, according to new figures.
The decline is greatest for transfers to Norway from abroad
There was a decline in both inbound and outbound transactions from Q4 2015 to Q1 2016, according to new figures from Statistics Norway (SSB). The largest decline was for transfers to Norway from abroad.
In Q1 this year, it received 518 billion from abroad to bank accounts belonging to non-financial corporations and private individuals in Norway. This is a decline of 14.6 percent from the last quarter of last year – equivalent to 88 billion.
Banking from Norway abroad totaled 582 billion in the first quarter. The outgoing bank transfers decreased by 19 billion from Q4 2015, a decrease of 3.2 percent.
Source: NTB scanpix / Norway Today