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NORWEGIANBALANCEOFPAYMENTSSTATISTICS
NORWEGIAN BALANCE OF PAYMENTS STATISTICS
Division for national accounts
28 persons
Majority economists
Introduction to BOP/IIP in Norway
Short history
Statistics on external trade in goods and shipping freight income back to 19th century
Statistics on stocks of foreign assets and liabilities from 1919 (annually from 1924)
Balance of Payments statistics from 1940’s
Adoption of the IMF BPM5 in 1995
Monthly publishing untill 2004
Institutional environment
Compilation and publishing of BoP have been the responsebility of Statistics Norway since the very beginning
The Central Bank has untill 2004 supplied monthly Foreign Exchange data as a main source of information for the BoP
based on bank accounts settlements data
Statistics Norway responsible for the other main source data
Monthly Foreign Trade in Goods statistics based on customs declarations supplied electronically by the Customs Directorate
Annual Shipping transport statistics
Integration with National Accounts
Main argument for giving Statistics Norway responsebility for BoP has been the need to fully integrate BoP with National Accounts
From the beginning BoP has been presented with the same figures as the National Accounts rest of the World Account
Today the same IT production applications used for BoP statistics and National Accounts statistics
The New BoP/IIP data collection system Background
In 1989 the last remnants of foreign currency exchange control system was abolished
In 2001 it was deceided that the Central Bank will stop producing the monthly Foreign Exchange statistics.
Statistics Norway was awarded the task to build a new data collection system for BoP and the rest of the world Account of the National Accounts
In 2005 the very last supply of data from the Central Bank and the start of the newly constructed data collection system
Premesis or conditions for the new data collection system
Data to be collected directly from economic agents instead of indirectly via bank accounts (banking settlement
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