171097_not-searchable
/en/bank-og-finansmarked/statistikker/k3/maaned
171097
Decrease in total debt growth
statistikk
2014-10-07T10:00:00.000Z
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, July 2014

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Decrease in total debt growth

The twelve-month growth in total gross debt (C3) was 5.1 per cent to end-July, down from 5.4 per cent the previous month. The decrease stemmed from foreign debt sources.

Total gross dept (C3). Twelve-month growth. Per centPublished 7 October 2014
July 2014June 2014May 2014April 2014March 2014February 2014
Total gross debt (C3)5.15.45.96.36.15.2
Total gross loan debt, offshore ind.6.47.511.710.88.13.4
Total gross loan debt, mainland-Norway4.95.05.05.65.85.4
Domestic gross debt (C2)5.45.35.55.65.75.8
Gross external loan debt4.05.47.38.77.52.8
Gross external loan debt, offshore ind.7.69.515.214.012.15.3
Gross external loan debt, mainland-Norway1.02.01.04.23.80.7

Source: Statistics Norway

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

Total gross debt amounted to NOK 5 761 billion at end-July, up from NOK 5 759 billion at end-June.

Mainland Norway’s gross debt accounted for 86 per cent of the total gross debt at end-July. This amounted to NOK 4 977 billion, up from NOK 4 974 billion at end-June.

Decreased foreign debt growth

The general public gross foreign debt, which mainly relates to non-financial corporations, amounted to NOK 1 251 billion at end-July, down from NOK 1 260 billion the previous month. The twelve-month growth decreased from 5.4 per cent to end-June to 4.0 per cent to end-July.

Mainland Norway accounted for 52 per cent of the public gross foreign debt, which amounted to NOK 652 billion at end-July. The twelve-month growth in mainland Norway’s foreign debt was 1.0 per cent to end-July, down from 2.0 per cent to end-June. The decrease in mainland Norway’s foreign debt growth stemmed from short-term debt.

Offshore industries accounted for the remainder of the foreign debt, which amounted to NOK 599 billion at end-July. The twelve-month growth was 7.6 per cent to end-July, down from 9.5 per cent to end-June. The decrease in the twelve-month growth rate for the offshore industries stemmed from short-term debt.

Stronger domestic debt growth in July

The credit indicator (C2) amounted to NOK 4 510 billion at end-July. The twelve-month growth was 5.4 per cent to end-July, moderately up from 5.3 per cent the month before. The debt growth in non-financial corporations was 2.6 per cent to end-July, while the growth in household debt was 6.7 per cent in the same period. The C2 statistics show that the twelve-month growth in the general public domestic debt fell moderately to 5.3 per cent to end- August.