A high surplus on both the goods and service account and the income and current transfers account led to a higher surplus on the BOP current account from the 3rd to the 4th quarter of 2017.
Preliminary figures for 4th quarter 2017 show a surplus on the current account balance of NOK 35 billion. For the year 2017, the surplus ended at NOK 168 billion. This is NOK 50 billion more than the previous year. The balance of goods and services had a stronger development than the balance of income and current transfers measured from the previous year, but both had a positive growth.
Export and imports
Exports of goods and services in the fourth quarter of 2017 ended at NOK 305 billion. This is NOK 35 billion more compared to the previous quarter, and NOK 11 billion more compared to the same quarter the year before.
The preliminary total import in the 4th quarter last year was NOK 281 billion, which is about NOK 11 billion more than the 3rd quarter, and NOK 19 billion more than the same quarter in 2016.
For more information about exports and imports, including price and volume considerations and seasonal adjustments, please see the quarterly national accounts.
The balance of income and current transfers
The balance of income and current transfers in the fourth quarter decreased by NOK 10 billion compared to the previous quarter and NOK 7 billion compared to the same quarter in the previous year. Despite this, the balance of income and current transfers of 2017 in total ended at NOK 102 billion, which is NOK 11 billion higher than 2016.
Source: SSB / Norway Today