166995_not-searchable
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166995
Decrease in total debt growth
statistikk
2014-09-08T10:00:00.000Z
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, June 2014

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Decrease in total debt growth

The twelve-month growth in total gross debt (C3) was 5.3 per cent to end-June, down from 5.8 per cent the previous month. The decrease stemmed from both domestic and foreign debt sources.

Total gross dept (C3). Twelve-month growth. Per centPublished 8 September 2014
June 2014May 2014April 2014March 2014February 2014January 2014
Total gross debt (C3)5.35.86.26.15.25.9
Total gross loan debt, offshore ind.10.011.710.88.64.18.4
Total gross loan debt, mainland-Norway4.64.95.55.75.35.5
Domestic gross debt (C2)5.45.55.65.75.85.7
Gross external loan debt5.16.98.27.42.86.5
Gross external loan debt, offshore ind.12.815.214.012.86.212.6
Gross external loan debt, mainland-Norway-1.50.23.43.0-0.11.4

Source: Statistics Norway

Figure 1. The credit indicator C3. 12-month growth

Total gross debt amounted to NOK 5 756 billion at end-June, up from NOK 5 704 billion at end-May.

Mainland Norway’s gross debt accounted for 86 per cent of the total gross debt at end-June. This amounted to NOK 4 954 billion, up from NOK 4 931 billion at end-May.

Decreased foreign debt growth

The general public gross foreign debt, which mainly relates to non-financial corporations, amounted to NOK 1 256 billion at end-June, up from NOK 1 235 billion the previous month. The twelve-month growth decreased from 6.9 per cent to end-May to 5.1 per cent to end-June.

Mainland Norway accounted for 51 per cent of the public gross foreign debt, which amounted to NOK 635 billion at end-June. The twelve-month growth in mainland Norway’s foreign debt was -1.5 per cent to end-June, down from 0.2 per cent to end-May. The decrease in mainland Norway’s foreign debt growth stemmed from long-term debt.

Offshore industries accounted for the remainder of the foreign debt, which amounted to NOK 621 billion at end-June. The twelve-month growth was 12.8 per cent to end-June, down from 15.2 per cent to end-May. The decrease in the twelve-month growth rate for the offshore industries stemmed from short-term debt.

Weaker domestic debt growth in June

The credit indicator (C2) amounted to NOK 4 500 billion at end-June. The twelve-month growth was 5.4 per cent to end-June, moderately down from 5.5 per cent the month before. The debt growth in non-financial corporations was 2.9 per cent to end-June, while the growth in household debt was 6.5 per cent in the same period. The C2 statistics show that the twelve-month growth in the general public domestic debt was unchanged at 5.4 per cent to end-July.