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Saving for Norway revised downward in 2007 and 2008
statistikk
2009-11-26T10:00:00.000Z
National accounts and business cycles
en
nri, Annual non-financial sector accounts, national accounts, general government, non-financial enterprises, financial enterprises, households, non-profit organisations, production, production price, operating profit, income, saving, saving rate, disposable income, FISM, net financial investments, dividendsNational accounts , National accounts and business cycles
false

Annual non-financial sector accounts, national accounts, 2007-2008

A of 7 June 2017 the statistics will be published as Quarterly non-Financial sector accounts, national accounts.

The institutional sector accounts record economic transactions of the institutional sectors in national accounts. Non-financial and financial accounts by institutional sector is updated quarterly in StatBank.

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Saving for Norway revised downward in 2007 and 2008

The revised figures for 2007 and 2008 show a downwards adjustment in national income compared to the last release of 2007 and 2008. Saving in households is adjusted upwards for both 2007 and 2008.

Sparing i Norge, fordelt på sektor, 2007 og 2008* [Saving, by main sectors, 2007 and 2008*]

National income for Norway in 2007 amounted to NOK 1 972 billion, which is a revision of NOK 35 billion compared to preliminary estimates. The revision is due to higher contributions from property income from the rest of the world accounts. Property income increased by NOK 24 billion compared to the last release in June and accounts for most of the adjustment. Disposable income for Norway in 2007 was NOK 1 951 billion, which is a downwards revision of NOK 38 billion compared with preliminary figures. Final figures for savings in Norway for 2007 amount to NOK 565 billion and are revised downward by NOK 36 billion from the last release.

The revised preliminary figures for 2008 show that disposable income for Norway is NOK 2 193 billion, which is a downward adjustment of NOK 46 billion compared to the last release.

Disposable real income increased from 2006 to 2007 by 0.7 per cent, and increased by 3.2 per cent from 2007 to 2008.

High household saving

Household disposable income is revised by NOK 8 billion in 2007 and NOK 9 billion in 2008. The revisions for both 2007 and 2008 are due to an increase in mixed income and compensation of employees.

For more information about the household sector, go to National accounts, quarterly sector accounts.

The figures for 2007 and 2008 are revised somewhat, but in line with the released figures in June 2009.

Savings in general and local government in 2007 amounted to NOK 432 billion, or nearly 76 per cent of Norway’s total savings. Savings amount to NOK 514 billion in 2008, or nearly 72 per cent of Norway’s total savings.

Decreased savings in non-financial corporations

The figures for 2007 show that savings in the enterprise sector amount to NOK 84 billion. This is a downward revision of NOK 80 billion compared to preliminary figures released in June 2009. The savings in 2008 were NOK 129 billion, which is a downward revision by NOK 67 billion.

Table of revisions for 2007 and 2008, some selected national account figures, NOK billion
 
  2007 2008
  Revised figures Last released figures Revisions Revised figures Last released figures Revisions
 
Totals for Norway            
Gross national income 2 264 2 293 -29 2 550 2 572 -22
Consumption of fixed capital  292  286 6  336  313 23
National income 1 972 2 007 -35 2 214 2 259 -45
Disposable income for Norway 1 952 1 990 -38 2 193 2 239 -46
Saving for Norway  565  601 -36  714  757 -44
Net aqcuisiton of non-financial assets  239  245 -6  261  241 20
Net lending for Norway  320  361 42  472  495 -24
             
Households and NPISHs            
Operating surplus/mixed income  108  103 5  104  102 2
Compensation of employees  967  964 3 1 055 1 050 5
Property income 80 78 3 99 98 1
Property expenses 95 98 -2  129  131 -2
Social benefits  278  278 0  298  298 0
Current taxes on income and wealth  237  237 0  249  251 -1
Disposable income  926  919 7  991  982 9
Final consumption expenditure in households and NPISHs1  940  942 -2  987  991 -4
Saving 14 4 10 34 20 14
Net aqcuisiton of non-financial assets 64 66 -1 54 60 -6
Net lending -53 -64 11 -22 -42 20
  Per cent
Savings ratio, per cent 1.5 0.4   3.4 2.0  
 

1Numbers adjustet 26.11.09 at 14.30

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