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248746
Weaker total loan debt growth
statistikk
2016-04-07T10:00:00.000Z
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, January 2016

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Weaker total loan debt growth

The twelve-month growth in total gross debt (C3) was 3.1 per cent to end-January 2016, down from 4.2 per cent the previous month. The decrease stemmed from both domestic and foreign debt sources.

Total gross debt (C3). Twelve-month growth. Per centPublished 7 April 2016
August 2015September 2015October 2015November 2015December 2015January 2016
Total gross debt (C3)5.76.15.42.64.23.1
Total gross loan debt, offshore ind.3.97.74.0-12.20.6-5.5
Total gross loan debt, mainland-Norway6.05.95.65.54.84.6
Domestic gross debt (C2)5.85.65.55.45.45.3
Gross external loan debt5.48.04.9-6.00.2-3.5
Gross external loan debt, offshore ind.4.810.05.5-14.61.0-6.3
Gross external loan debt, mainland-Norway6.06.04.43.9-0.5-0.7

Source: Statistics Norway

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

Total gross debt amounted to NOK 6 386 billion at end-January, down from NOK 6 414 billion at end-December last year. 

Mainland Norway’s gross debt accounted for 86 per cent of the total gross debt at end-January. This amounted to NOK 5 486 billion.

Weaker foreign debt growth

The general public gross foreign debt, which mainly relates to non-financial corporations, amounted to NOK 1 461 billion at end-January, down from NOK 1 501 billion the previous month. The twelve-month growth decreased from 0.2 per cent to end-December last year to -3.5 per cent to end-January. 

Mainland Norway accounted for 50 per cent of the public gross foreign debt, which amounted to NOK 726 billion at end-January. The twelve-month growth in mainland Norway’s foreign debt was -0.7 per cent to end-January, down from -0.5 per cent to end-December last year. 

Offshore industries accounted for the remainder of the foreign debt, which amounted to NOK 734 billion at end-January. The twelve-month growth was -6.3 per cent to end-January, down from 1.0 per cent to end-December last year. 

The decreased foreign debt growth stemmed from both short and long-term loan debt.

Weaker domestic debt growth

The general public gross domestic loan debt (C2) amounted to NOK 4 926 billion at end-January. The twelve-month growth was 5.3 per cent to end-January, down from 5.4 the month before. The debt growth for non-financial corporations was 3.6 per cent from end-January 2015 to end-January 2016, while the growth in household debt was 6.1 per cent in the same period. The C2 statistics show that the twelve-month growth in the general public domestic debt decreased further to 5.2 per cent to end-February 2016.