108320_not-searchable
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108320
Moderate decrease in total debt growth
statistikk
2013-08-14T10:00:00.000Z
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, May 2013

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Moderate decrease in total debt growth

The twelve-month growth in total gross debt (C3) was 6.5 per cent to end-May, up from 6.6 per cent the previous month. The decrease stemmed from both domestic and foreign debt sources.

Total gross dept (C3). Twelve-month growth. Per centPublished 14 August 2013
May 2013April 2013March 2013February 2013January 2013December 2012
Total gross debt (C3)6.56.64.69.19.07.0
Total gross loan debt, offshore ind.4.98.4-1.830.229.613.6
Total gross loan debt, mainland-Norway6.86.45.66.36.46.0
Domestic gross debt (C2)6.46.56.26.36.36.5
Gross external loan debt7.07.4-1.520.920.58.7
Gross external loan debt, offshore ind.7.212.0-3.442.241.317.5
Gross external loan debt, mainland-Norway6.93.60.15.55.81.9

Source: Statistics Norway

Figure 1. The credit indicator C3 by credit sources. Twelve-month growth. Per cent

Total gross debt amounted to NOK 5 300 billion at end-May, up from NOK 5 264 billion at end-April.

Mainland Norway’s gross debt accounted for 87 per cent of the total gross debt at end-May. This amounted to NOK 4 631 billion, up from NOK 4 588 billion the previous month.

Decrease in foreign debt growth

The general public gross foreign debt, which mainly relates to non-financial corporations, amounted to NOK 1 084 billion at end-May, up from NOK 1 080 billion the previous month. The twelve-month growth decreased from 7.4 per cent to end-April to 7.0 per cent to end- May.

Mainland Norway accounted for 54 per cent of the public gross foreign debt, which amounted to NOK 589 billion at end-May. The twelve-month growth in mainland Norway’s foreign debt was 6.9 per cent to end-May, up from 3.6 per cent to end-April. The increase in mainland Norway’s foreign debt stemmed both from short-term and long-term debt.

Offshore industries accounted for the remainder of the foreign debt, which amounted to NOK 495 billion at end-May. The twelve-month growth was 7.2 per cent to end-May, down from 12.0 per cent to end-April. The increase in twelve-month growth rate for the offshore industries mainly stemmed from short-term debt.

Decrease in domestic debt growth in May

The credit indicator (C2) amounted to NOK 4 216 billion at end-May. The twelve-month growth was 6.4 per cent to end-May, down from 6.5 per cent the month before. The debt growth in non-financial corporations was 4.2 per cent to end-May, while the growth in household debt was 7.4 per cent in the same period. The C2 statistics show that the twelve-month growth in the general public domestic debt decreased to 6.3 per cent to end-June.