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/en/bank-og-finansmarked/statistikker/k3/maaned
142913
Decrease in total debt growth
statistikk
2014-03-07T10:00:00.000Z
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, December 2013

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Decrease in total debt growth

The twelve-month growth in total gross debt (C3) was 6.6 per cent to end-December 2013, down from 7.4 per cent the previous month. The decrease stemmed from foreign debt sources.

Total gross dept (C3). Twelve-month growth. Per centPublished 7 March 2014
December 2013November 2013October 2013September 2013August 2013July 2013
Total gross debt (C3)6.67.47.87.48.27.6
Total gross loan debt, offshore ind.10.413.116.99.69.56.9
Total gross loan debt, mainland-Norway6.16.56.57.08.07.7
Domestic gross debt (C2)6.06.06.26.36.26.2
Gross external loan debt8.812.614.111.416.313.1
Gross external loan debt, offshore ind.15.320.025.215.015.111.0
Gross external loan debt, mainland-Norway3.36.25.58.417.415.1

Source: Statistics Norway

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

Total gross debt amounted to NOK 5 594 billion at end-December 2013, down from NOK 5 606 billion at end-November.

Mainland Norway’s gross debt accounted for 86 per cent of the total gross debt at end-December. This amounted to NOK 4 816 billion, marginally up from NOK 4 815 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 1 225 billion at end-December, down from NOK 1 249 billion the previous month. The twelve-month growth decreased from 12.6 per cent to end-November to 8.8 per cent to end-December.

Mainland Norway accounted for 51 per cent of the public gross foreign debt, which amounted to NOK 625 billion at end-December. The twelve-month growth in mainland Norway’s foreign debt was 3.3 per cent to end-December, down from 6.2 per cent to end-November. The decrease in mainland Norway’s foreign debt mainly stemmed from short-term debt.

Offshore industries accounted for the remainder of the foreign debt, which amounted to NOK 600 billion at end-December. The twelve-month growth was 15.3 per cent to end-December, down from 20.0 per cent to end-November. The decrease in the twelve-month growth rate for the offshore industries stemmed from both short-term and long-term debt.

Unchanged domestic debt growth in December

The credit indicator (C2) amounted to NOK 4 369 billion at end-December. The twelve-month growth was 6.0 per cent to end-December, unchanged from the month before. The debt growth in non-financial corporations was 3.8 per cent to end-December, while the growth in household debt was 7.0 per cent in the same period. The C2 statistics show that the twelve-month growth in the general public domestic debt decreased to 5.7 per cent to end-January this year.