Balance of payments

01. September

Q2/2020

The current account surplus measured 7 b.kr. in Q2/2020, as compared with a surplus of 16.7 b.kr. in the preceding quarter. The deficit on goods trade totalled 9.2 b.kr., while the surplus on services trade totalled 3.7 b.kr. There was a 19.2 b.kr. surplus on primary income and a 6.8 b.kr. deficit on secondary income.

The current account surplus was 9.2 b.kr. smaller than in the same quarter of the prior year, owing primarily to less favourable services trade in the amount of 48.4 b.kr. The difference stemmed mainly from services export values, which were lower by 99 b.kr. This was offset in part by a decline of 50.6 b.kr. in services imports. The balance on goods trade was more favourable by 34.3 b.kr., mainly because of a 47.9 b.kr. year-on-year reduction in imports, whereas exports were 13.6 b.kr. less than in the prior year. The primary income balance improved by 4.7 b.kr., and the deficit on secondary income narrowed by 0.2 b.kr.

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