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/en/bank-og-finansmarked/statistikker/k3/arkiv
53679
Slight decrease in total debt growth
statistikk
2011-11-10T10:00:00.000Z
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, August 2011

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Slight decrease in total debt growth

The twelve-month growth in total gross debt (C3) was 8.6 per cent to end-August, down from 8.8 per cent to the previous month. The decrease stemmed from foreign debt sources.

Total gross debt amounted to NOK 4 741 billion at end-August, up from 4 728 billion at end-July.

About 87 per cent of the total gross debt came from mainland Norway. This amounted to NOK 4 106 billion at end-August, up from NOK 4 096 billion the previous month.

Decrease in foreign debt growth

The general public gross foreign debt, which mainly relates to non-financial enterprises, amounted to NOK 981 billion at end-August. The twelve-month growth dropped from 19.4 per cent to 17.1 per cent during August.

Mainland Norway accounted for about 51 per cent of the public gross foreign debt, which amounted to NOK 504 billion. The twelve-month growth in mainland Norway’s foreign debt was -2.3 per cent to end-August; down from -1.4 per cent the previous month. The decrease in mainland Norway’s foreign debt stemmed from both short and long-time debt.

Offshore industries accounted for the remainder of the foreign debt, and amounted to NOK 477 billion. The annual growth decreased from 52.6 per cent the previous month to 46.5 per cent to end- August. The decrease stemmed from long-time debt.

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

Increase in domestic gross debt growth

The credit indicator C2 amounted to NOK 3 761 billion at end- August. The twelve-month growth was 6.5 per cent, up from 6.3 per cent the previous month. The debt growth in non-financial enterprises was 4.1 per cent, while the growth in household debt was 7.2 per cent. The C2 statistics show that the annual growth in the general public domestic gross debt went up to 6.7 per cent to end-September.

Specifications for the credit indicator C3. Twelve-month growth. Per cent
 
  February 2011 March 2011 April 2011 May 2011 June 2011 July 2011 August 2011
 
Total gross debt (C3) 6.9 9.1 6.0 6.0 6.3 8.8 8.6
Total gross loan debt, mainland-Norway 5.8 5.7 5.9 6.5 5.1 5.6 5.7
Domestic gross debt (C2)1 5.9 6.2 6.4 6.4 6.0 6.3 6.5
Gross external loan debt 11.0 20.6 4.6 4.4 7.1 19.4 17.1
Gross external loan debt, offshore ind. 20.1 49.6 9.1 3.7 21.0 52.6 46.5
Gross ext. loan debt, mainland-Norway 5.4 2.2 1.7 4.8 -3.0 -1.4 -2.3
 
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 section 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