65967_not-searchable
/en/bank-og-finansmarked/statistikker/k3/maaned
65967
Decrease in total debt growth
statistikk
2012-02-09T10:00:00.000Z
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, November 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 7.5 per cent to end-November, down from 7.8 per cent the previous month. The decrease stemmed from both domestic and foreign debt sources.

Total gross debt amounted to NOK 4 834 billion at end-November, up from NOK 4 791 billion at end-October.

Mainland Norway’s gross debt accounted for about 87 per cent of the total gross debt at end-November. This amounted to NOK 4 216 billion at end-November, up from NOK 4 169 billion the previous month.

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

Decrease in foreign debt growth

The general public gross foreign debt, which mainly relates to non-financial enterprises, amounted to NOK 992 billion at end-November. The twelve-month growth decreased from 11.9 per cent to 11.4 per cent during November.

Mainland Norway accounted for about 55 per cent of the public gross foreign debt, which amounted to NOK 542 billion. The twelve-month growth in mainland Norway’s foreign debt was -1.8 per cent to end-November, up from -4.9 per cent to end-October. The increase in mainland Norway’s foreign debt stemmed from long-term debt.

Offshore industries accounted for the remainder of the foreign debt, and amounted to NOK 451 billion at end-November. The annual growth decreased from 38.7 per cent the previous month to 32.6 per cent to end-November. The decrease stemmed from long-term debt.

Slight decrease in domestic gross debt growth

The credit indicator C2 amounted to NOK 3 842 billion at end-November. The twelve-month growth was 6.6 per cent to end-November, down from 6.8 per cent the previous month. The debt growth in non-financial enterprises was 4.6 per cent, while the growth in household debt remained unchanged at 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-December.

Specifications for the credit indicator C3. Twelve-month growth. Per cent
  May 2011 June 2011 July 2011 Aug. 2011 Sep. 2011 Oct. 2011 Nov. 2011
Total gross debt (C3) 9.3 6.3 8.5 8.3 6.8 7.8 7.5
Total gross loan debt, mainland-Norway 6.8 5.2 5.6 5.7 5.9 5.4 5.6
Domestic gross debt (C2)1 6.4 6.0 6.2 6.5 6.7 6.8 6.6
Gross external loan debt 21.3 7.1 18.2 15.8 7.1 11.9 11.4
Gross external loan debt, offshore ind. 43.6 20.9 48.8 42.9 15.9 38.7 32.6
Gross external loan debt, mainland-Norway 6.7 -2.9 -1.1 -2.0 0.0 -4.9 -1.8
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). Foreign debt data are subject to consecutive revision. Large impacts of the revision are to be presented here.

For more details concerning sampling, see section 3.3 in About the statistics .

Definitions

The public comprises households, non-financial enterprises and municipalities.

Mainland Norway consists of all domestic production activity except for exploration of crude oil and natural gas, services activities incidental to oil and gas, transport via pipelines and ocean transport.

C3 is an approximate measure of the size of the total gross debt of the public 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.