4285_not-searchable
/en/bank-og-finansmarked/statistikker/k3/maaned
4285
Continued strong growth in external loan debt
statistikk
2008-04-09T10:00:00.000Z
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, January 2008

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Continued strong growth in external loan debt

The twelve-month growth in the general public gross external loan debt was 25.2 per cent to end-January, down from 25.5 per cent to end-December. The growth in offshore industries declined, while the external loan debt growth in mainland Norway increased.

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

The general public gross external loan debt, which mainly relates to non-financial enterprises, amounted to NOK 671 billion at end-January. About 43 per cent of the external loan debt came from offshore industries. For this part of the foreign debt, annual growth decreased from 43.5 per cent to 38.9 per cent through January. A substantial part of this rise came from short-term debt, which may fluctuate heavily from one month to the next. The twelve-month growth in the foreign debt of mainland Norway, where most of the rise stems from long-term debt, increased from 12.5 per cent to 15.8 per cent.

Total gross debt growth unchanged

The twelve-month growth in total gross debt (C3) was 16.1 per cent at end-January, unchanged from the previous month. Total gross debt (C3) amounted to NOK 3 649 billion at end-January, of which NOK 3 287 billion (about 90 per cent) came from mainland Norway.

Continued strong growth in domestic gross debt

The credit indicator C2 amounted to NOK 2 978 billion at end-January. The twelve-month growth was 14.2 per cent, up from 14.1 per cent in the previous month. The annual growth in the public domestic gross debt was still high, due to the very high growth in non-financial enterprise debt (21.1 per cent) and a considerably sharp growth in household debt (11.2 per cent). See also the C2 statistics , which show that the growth in the general public domestic gross debt was unchanged from January to February.

The credit indicator C3, by credit sources. Twelve-month growth. Per cent
  November 2007 December 2007 January 2008
Total gross debt (C3) 13.9 16.1 16.1
Domestic gross debt (C2)1 14.1 14.1 14.2
Gross external loan debt 12.5 25.5 25.2
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 where C2 constitutes the major part. The C3 statistics are published approximately one month later than C2.

Be aware 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 later on due to improved information. For more details concerning the public’s gross external loan debt, see StatBank Norway under http://www.ssb.no/english/subjects/09/04/putgjeld_en/ .