84564_not-searchable
/en/bank-og-finansmarked/statistikker/k3/arkiv
84564
Decrease in total debt growth
statistikk
2012-07-09T10:00:00.000Z
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, April 2012

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Decrease in total debt growth

The twelve-month growth in total gross debt (C3) was 4.0 per cent to end-April, down from 5.4 per cent the previous month. The decrease stemmed from foreign debt sources.

Total gross debt amounted to NOK 4 863 billion at end-April, up from NOK 4 907 billion at end-March.

Mainland Norway’s gross debt accounted for 87 per cent of the total gross debt at end-April. This amounted to NOK 4 238 billion at end-April, up from NOK 4 223 billion the previous month.

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

Decrease in foreign debt

The general public gross foreign debt, which mainly relates to non-financial enterprises, amounted to NOK 941 billion at end-April, down from NOK 1 000 billion the previous month. The twelve-month growth decreased from -0.6 per cent to end-March to -5.9 per cent to end-April.

Mainland Norway accounted for 51 per cent of the public gross foreign debt, which amounted to NOK 482 billion at end-April. The twelve-month growth in mainland Norway’s foreign debt was -4.6 per cent to end-April, up from -5.1 per cent to end-March. 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 460 billion at end-April. The annual growth fell from 4.4 per cent to end-March to -7.4 per cent to end-April. The reduced annual growth rate for the offshore industries stemmed mainly from short-term debt.

Reduction in domestic gross debt growth

The credit indicator (C2) amounted to NOK 3 922 billion at end-April. The twelve-month growth was 6.7 per cent to end-April, down from 7.0 to end-March. The debt growth in non-financial enterprises was 6.4 per cent, while the growth in household debt was 6.8 per cent. The C2 statistics show that the annual growth in the general public domestic gross debt was unchanged to end-May.

Specifications for the credit indicator C3. Twelve-month growth. Per cent
  Octtober 2011 November 2011 December 2011 January 2012 February 2012 March 2012 April 2012
Total gross debt (C3) 6.4 5.8 4.3 1.8 1.8 5.4 4.0
Total gross loan debt, mainland-Norway 5.2 4.1 4.9 4.2 4.1 5.6 5.4
Domestic gross debt (C2)1 6.8 6.5 6.7 6.9 7.0 7.0 6.7
Gross external loan debt 5.2 3.0 -4.6 -16.6 -16.8 -0.6 -5.9
Gross external loan debt, offshore ind. 20.2 23.2 -1.3 -18.9 -18.5 4.4 -7.4
Gross ext. loan debt, mainland-Norway -6.1 -11.8 -7.2 -14.7 -15.4 -5.1 -4.6
1  The growth rates for C2 are in the table presented as they were at the time of the C3 release.

New institutional sector classification

The Norwegian institutional sector classification was revised on 1 January 2012 in line with the international classification. This change entails a break in the statistics for the credit indicator (C3) from March 2012.

As a result of the new classification, some enterprises that were previously classified as non-financial enterprises are now classified as financial enterprises. These enterprises are therefore no longer a part of “the general public”, and as such are not included in C3.

Based on data from the relevant enterprises, Statistics Norway has estimated and corrected transactions and growth rates. However, it should be noted that there is some uncertainty associated with the changes in sector classification between February 2012 and March 2012. For further information, see “ Institutional sector classification 2012 ”