4227_not-searchable
/en/bank-og-finansmarked/statistikker/k3/arkiv
4227
Decrease in foreign debt growth
statistikk
2010-09-09T10:00:00.000Z
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, June 2010

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Published:

This is an archived release.

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Decrease in foreign debt growth

The twelve-month growth in total gross debt (C3) was 2.2 per cent to end-June, down from 2.7 per cent to end-May. The decrease stemmed from offshore industries' foreign debt.

Total gross debt amounted to NOK 4 457 billion at end-June, an increase from NOK 4 332 billion at end-May. About 88 per cent of the gross debt came from mainland Norway. The twelve-month growth in total debt from mainland Norway was 5.1 per cent to end-June, up from 3.4 per cent the previous month.

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

Sharp decrease in offshore industries' foreign debt, increase for mainland Norway

The general public gross foreign debt, which mainly relates to non-financial enterprises, amounted to NOK 921 billion in June, an increase from NOK 827 billion at end-May. The twelve-month growth, however, decreased from -3.6 per cent to -6.6 per cent during June.

Offshore industries accounted for 43 per cent of the public gross foreign debt at end-June, which amounted to NOK 396 billion. The annual growth decreased from -8.5 per cent to -21.1 per cent in June. The decrease emanates from short-term debt. However, 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.

Mainland Norway accounted for the remainder of the foreign debt, which amounted to NOK 525 billion at end-June. The twelve-month growth in mainland Norway's foreign debt was 8.4 per cent to end-June, up from -0.4 per cent to the previous month. The increase emanates mainly from short-term debt.

Increased domestic gross debt growth

The credit indicator C2 amounted to NOK 3 535 billion at end-June. The twelve-month growth was 4.7 per cent, up from 4.2 to the previous month. The debt growth in non-financial enterprises was 0.5 per cent, while the growth in household debt was 6.2 per cent. The C2 statistics show that the annual growth in the general public domestic gross debt was stable at 4.7 percent to end-July.

Specifications for the credit indicator C3. Twelve-month growth. Per cent
 
  January 2010 February 2010 March 2010 April 2010 May 2010 June 2010
 
Total gross debt (C3) 5.7 5.5 -0.8 2.1 2.7 2.2
Total gross loan debt, mainland-Norway 5.5 5.6 3.3 3.1 3.4 5.1
Domestic gross debt (C2)1 4.2 4.2 3.9 4.0 4.2 4.7
Gross external loan debt 12.3 11.2 -17.7 -5.7 -3.6 -6.6
Gross external loan debt, offshore ind. 7.9 3.0 -36.4 -11.8 -8.5 -21.1
Gross ext. loan debt, mainland-Norway 15.2 16.4 -0.1 -1.7 -0.4 8.4
 
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.

Revisions

There have been some revisions in the figures dating back to December 2008. The revisions concern the foreign debt.

 

Tables

Published tables