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/en/bank-og-finansmarked/statistikker/k3/arkiv
4229
Total debt growth increases
statistikk
2010-08-16T10:00:00.000Z
Banking and financial markets
en
k3, The credit indicator C3, total gross debt, foreign debt, debt, credit, total debtFinancial indicators, Banking and financial markets
false

The credit indicator C3, May 2010

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Total debt growth increases

The twelve-month growth in total gross debt (C3) was 2.3 per cent to end-May, up from 1.7 per cent to end-April. The increase stems both from foreign and domestic debt.

Credit indicator C3 by credit sources. Twelve-month growth. Per cent.

Total gross debt amounted to NOK 4 305 billion at end-May; an increase from NOK 4 261 billion at end-April. About 89 per cent of the gross debt came from mainland Norway. The twelve-month growth in total debt from mainland Norway was 3.0 per cent to end-May, up from 2.7 per cent to the previous month.

Foreign debt growth increased, but still negative

The general public gross foreign debt, which mainly relates to non-financial enterprises, amounted to NOK 802 billion in May. The twelve-month growth in public gross external loan debt increased from -7.5 per cent to -5.2 per cent during May.

Mainland Norway accounted for 60 per cent of the public gross foreign debt, which amounted to NOK 483 billion at end-May. The twelve-month growth in mainland Norway’s foreign debt was -3.1 per cent to end-May, up from -4.6 per cent to the previous month. The increase emanates from short-term and long-term debt.

Offshore industries accounted for the remainder of the foreign debt. For this part of the foreign debt, the annual growth increased from -12.1 per cent to -8.5 per cent in May. The increase emanates from long-term debt.

Stable domestic gross debt growth

The credit indicator C2 amounted to NOK 3 503 billion at end-May. The twelve-month growth was 4.1 per cent, up from 4.0 to the previous month. The debt growth in non-financial enterprises was -1.1 per cent, while the growth in household debt was 6.4 per cent. The C2 statistics show that the annual growth in the general public domestic gross debt increased to 4.6 per cent to end-June.

Specifications for the credit indicator C3. Twelve-month growth. Per cent
 
  Dec. 2009 Jan. 2010 Feb. 2010 Mar. 2010 Apr. 2010 May. 2010
 
Total gross debt (C3) 1.3 5.3 5.0 -1.0 1.7 2.3
Total gross loan debt, mainland-Norway 3.5 4.9 5.0 3.0 2.7 3.0
Domestic gross debt (C2)1 4.2 4.2 4.2 4.0 4.0 4.1
Gross external loan debt -9.5 10.0 8.9 -18.5 -7.5 -5.2
Gross external loan debt, offshore ind. -21.7 9.1 4.1 -35.6 -12.1 -8.5
Gross ext. loan debt, mainland-Norway 0.7 10.6 11.8 -2.6 -4.6 -3.1
 
1  The growth rates for C2 are in the table presented as they were at the time of the C3 release.

The statistics for external loan debt are based on samples, and therefore associated with more uncertainty than the statistics for domestic debt (C2). For more details concerning sampling, see chapter 3.3 in About the statistics .

C3 is an approximate measure of the size of the total gross debt of the public (households, non-financial enterprises and municipalities) in NOK and foreign exchange. C3 comprises the sum of C2 (the public’s domestic gross debt) and the public’s external loan debt of which C2 constitutes the largest part. The C3 statistics are published approximately one month later than C2.

 

It should be noted that the growth rates for the public’s gross external loan debt vary from month to month due to shifting amounts of short-time internal debt by oil companies. In addition, the first-time-published growth rates are often revised at a later date due to improved information. For more details concerning the public’s gross external loan debt see StatBank.

 

Tables

Published tables