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/en/bank-og-finansmarked/statistikker/k3/arkiv
53667
Increase in total debt growth
statistikk
2011-05-12T10:00:00.000Z
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, February 2011

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Increase in total debt growth

The twelve-month growth in total debt was 7.1 per cent to end-February, up from 6.9 per cent the previous month. The increase stemmed from foreign debt sources.

Total gross debt (C3) amounted to NOK 4 549 billion at end-February, up from NOK 4 534 billion at end-January. Ninety per cent of the total gross debt (C3) came from mainland Norway. The twelve-month growth in mainland Norway’s debt was 7.1 per cent to end-February, up from 6.9 per cent the previous month.

Increased foreign debt growth

The general public’s gross foreign debt, which mainly relates to non-financial enterprises, amounted to NOK 905 billion at end-February, up from NOK 899 billion at end-January. The twelve-month growth increased from 9.9 per cent to 12.2 per cent during February.

Mainland Norway accounted for 65.6 per cent of the public gross foreign debt, which amounted to NOK 594 billion at end-February. The twelve-month growth in mainland Norway’s foreign debt was 14.4 per cent to end-February; up from 12.1 per cent the previous month. The increase emanated both from short-term and long-term debt, but long-term debt accounted for a total of 83 per cent of the increase.

Offshore industries accounted for the remainder of the foreign debt, which amounted to NOK 311 billion at end-February. The annual growth increased from 6.2 per cent to end-January to 8.2 to end-February. The decrease stemmed from short-time internal debt by oil companies. This debt can fluctuate considerably from one month to the next.

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

Decreasing domestic gross debt growth

The credit indicator C2 amounted to NOK 3 644 billion at end-February. The twelve-month growth was 5.9 per cent, down from 6.1 per cent the previous month. The debt growth in non-financial enterprises was 2.9 per cent, while the growth in household debt was 6.6 per cent. The C2 statistics show that the annual growth in the general public domestic gross debt went up to 6.3 per cent to end-March.

Specifications for the credit indicator C3. Twelve-month growth. Per cent
 
  September 2010 October 2010 November 2010 December 2010 January 2011 February 2011
 
Total gross debt (C3) 3.9 4.9 5.2 8.5 6.9 7.1
Total gross loan debt, mainland-Norway 5.0 5.1 5.5 5.6 6.9 7.1
Domestic gross debt (C2)1 5.1 5.3 5.8 6.1 6.1 5.9
Gross external loan debt -0.6 3.0 2.9 18.5 9.9 12.2
Gross external loan debt, offshore ind. -6.9 0.6 0.6 43.7 6.2 8.2
Gross ext. loan debt, mainland-Norway 4.9 4.6 4.4 3.4 12.1 14.4
 
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.

 

Tables

Published tables