53681_not-searchable
/en/bank-og-finansmarked/statistikker/k3/arkiv
53681
Decrease in total debt growth
statistikk
2011-12-09T10:00:00.000Z
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, September 2011

Content

Published:

This is an archived release.

Go to latest release

Decrease in total debt growth

The twelve-month growth in total gross debt (C3) was 6.9 per cent to end-September, down from 8.6 per cent to the previous month. The decrease stemmed from foreign debt sources.

Total gross debt amounted to NOK 4 824 billion at end-September, up from NOK 4 741 billion at end-August.

Over 86 per cent of the total gross debt came from mainland Norway. This amounted to NOK 4 169 billion at end-September, up from NOK 4 110 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 1 029 billion at end-September. The twelve-month growth dropped from 17.1 per cent to 7.8 per cent during September.

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

Mainland Norway accounted for about 52 per cent of the public gross foreign debt, which amounted to NOK 540 billion. The twelve-month growth in mainland Norway’s foreign debt was 1.3 per cent to end-September; up from -1.3 per cent the previous month. The increase in mainland Norway’s foreign debt stemmed from short-term debt.

Offshore industries accounted for the remainder of the foreign debt, and amounted to NOK 490 billion. The annual growth decreased from 45 per cent the previous month to 16 per cent to end- September. The decrease stemmed from both short and long-term debt.

Increase in domestic gross debt growth

The credit indicator C2 amounted to NOK 3 795 billion at end-September. The twelve-month growth was 6.7 per cent, up from 6.5 per cent the previous month. The debt growth in non-financial enterprises was 4.4 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 6.8 per cent to end-October.

Specifications for the credit indicator C3. Twelve-month growth. Per cent
 
  March 2011 April 2011 May 2011 June 2011 July 2011 August 2011 September 2011
 
Total gross debt (C3) 9.4 9.5 9.4 6.5 8.8 8.6 6.9
Total gross loan debt, mainland-Norway 5.9 6.2 7.0 5.3 5.7 5.8 6.1
Domestic gross debt (C2)1 6.2 6.4 6.4 6.0 6.2 6.5 6.7
Gross external loan debt 22.3 22.1 21.7 8.2 19.5 17.1 7.8
Gross external loan debt, offshore ind. 51.2 50.9 42.4 21.9 51.0 45.0 16.0
Gross ext. loan debt, mainland-Norway 3.8 3.9 8.2 -1.9 -0.4 -1.3 1.3
 
1  The growth rates for C2 are in the table presented as they were at the time of the C3 release.

Revisions

The statistics for external loan debt are based on samples, and therefore associated with more uncertainty than the statistics for domestic debt (C2). As per 9 December 2011, revisions for the foreign debt have been made. The upward revisions have considerable effect on i.a. the twelve-month growth of C3 dating back to December 2010.

 

For more details of 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