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195317
Increase in total debt growth
statistikk
2015-02-09T10:00:00.000Z
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, November 2014

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Increase in total debt growth

The twelve-month growth in total gross debt (C3) was 6.2 per cent to end-November 2014, up from 4.4 per cent the previous month. The increase stemmed from foreign debt sources.

Total gross dept (C3). Twelve-month growth. Per centPublished 9 February 2015
November 2014October 2014September 2014August 2014July 2014June 2014
Total gross debt (C3)6.24.44.64.55.25.3
Total gross loan debt, offshore ind.12.9-0.92.03.25.37.6
Total gross loan debt, mainland-Norway5.05.25.14.75.24.9
Domestic gross debt (C2)5.25.45.45.35.45.3
Gross external loan debt9.21.02.21.54.45.1
Gross external loan debt, offshore ind.17.0-0.21.83.36.29.5
Gross external loan debt, mainland-Norway1.62.12.5-0.12.81.4

Source: Statistics Norway

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

Total gross debt amounted to NOK 6 066 billion at end-November last year, up from NOK 5 878 billion at end-October.

Mainland Norway’s gross debt accounted for 84 per cent of the total gross debt at end-November. This amounted to NOK 5 087 billion, up from NOK 5 055 billion at end-October.

Increased foreign debt growth

The general public gross foreign debt, which mainly relates to non-financial corporations, amounted to NOK 1 452 billion at end-November, up from NOK 1 293 billion the previous month. The twelve-month growth increased from 1.0 per cent to end-October to 9.2 per cent to end-November.

Mainland Norway accounted for 45 per cent of the public gross foreign debt, which amounted to NOK 657 billion at end-November. The twelve-month growth in mainland Norway’s foreign debt was 1.6 per cent to end-November, down from 2.1 per cent to end-October. 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 794 billion at end-November. The twelve-month growth was 17.0 per cent to end-November, up from -0.2 per cent to end-October. The increase in the twelve-month growth rate for the offshore industries stemmed from short-term debt.

Decreased domestic debt growth in October

The credit indicator (C2) amounted to NOK 4 614 billion at end-November. The twelve-month growth was 5.2 per cent to end-November, down from 5.4 per cent the month before. The debt growth in non-financial corporations was 2.7 per cent to end-November, while the growth in household debt was 6.3 per cent in the same period. The C2 statistics show that the twelve-month growth in the general public domestic increased to 5.4 per cent to end-December.