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123127
Continued increase in total debt growth
statistikk
2013-11-07T10:00:00.000Z
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, August 2013

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Continued increase in total debt growth

The twelve-month growth in total gross debt (C3) was 8.0 per cent to end-August, up from 7.6 per cent the previous month. The increase stemmed from foreign debt sources.

Total gross dept (C3). Twelve-month growth. Per centPublished 7 November 2013
August 2013July 2013June 2013May 2013April 2013March 2013
Total gross debt (C3)8.07.67.47.07.15.0
Total gross loan debt, offshore ind.9.17.26.64.88.4-1.9
Total gross loan debt, mainland-Norway7.97.67.57.37.06.0
Domestic gross debt (C2)6.16.26.36.46.56.2
Gross external loan debt15.613.011.49.49.80.3
Gross external loan debt, offshore ind.14.411.410.37.112.0-3.4
Gross external loan debt, mainland-Norway16.714.612.411.48.03.8

Source: Statistics Norway

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

Total gross debt amounted to NOK 5 462 billion at end-August, up from NOK 5 437 billion at end-July.

Mainland Norway’s gross debt accounted for 87 per cent of the total gross debt at end-August. This amounted to NOK 4 736 billion, up from NOK 4 709 billion the previous month.

Continued increase in foreign debt growth

The general public gross foreign debt, which mainly relates to non-financial corporations, amounted to NOK 1 187 billion at end-August, up from NOK 1 182 billion the previous month. The twelve-month growth increased from 13.0 per cent to end-July to 15.6 per cent to end-August.

Mainland Norway accounted for 54 per cent of the public gross foreign debt, which amounted to NOK 638 billion at end-August. The twelve-month growth in mainland Norway’s foreign debt was 16.7 per cent to end-August, up from 14.6 per cent to end-July. The increase in mainland Norway’s foreign debt stemmed from short-term debt.

Offshore industries accounted for the remainder of the foreign debt, which amounted to NOK 550 billion at end-August. The twelve-month growth was 14.4 per cent to end-August, up from 11.4 per cent to end-July. The increase in the twelve-month growth rate for the offshore industries stemmed from long-term debt.

Decrease in domestic debt growth in August

The credit indicator (C2) amounted to NOK 4 275 billion at end-August. The twelve-month growth was 6.1 per cent to end-August, down from 6.2 per cent the month before. The debt growth in non-financial corporations was 3.8 per cent to end-August, while the growth in household debt was 7.2 per cent in the same period. The C2 statistics show that the twelve-month growth in the general public domestic debt increased to 6.2 per cent to end-September.