External debt position, Q1 2006

The banks' gross external debt position showed an increase of NOK 102 billion or 16 per cent from the end of the 4 ^{t h} quarter of 2005 to the end of the 1 ^{s t} quarter of 2006. The growth was particularly strong for foreigners' deposits in Norwegian banks and for the banks' long-term loans.

The banks also comprised the most of Norway's Gross External Debt Position at the end of the 1st quarter of 2006, with NOK 741 billion or a share of 36 per cent. The corresponding shares for the Central Government and other sectors in total were 27 and 26 per cent, respectively, whereas The Central Bank of Norway's share of the Gross External Debt at the end of the 1 ^{s t} quarter of 2006 was 4 per cent. The remaining 7 per cent of the Gross External Debt was debt in connection with foreign direct investments. "Other sectors in total" mainly comprise financial enterprises except banks (financing companies, insurance companies etc.), non-financial enterprises and households.

From the end of the 4th quarter of 2005 until the end of the 1st quarter of 2006 the gross external debt position also increased for all other sectors, as well as for the banks. The Central Government was the sector that showed the largest growth in the external debt apart from the banks, with an increase of NOK 53 billion or 10 per cent.

From the end of the 1st quarter of 2005 to the end of the 1st quarter of 2006 Norway's Gross External Debt Position increased by NOK 385 billion. Of this the banks' comprised NOK 235 billion or 46 per cent. The Central Government's external debt also grew considerably, by NOK 68 billion or 14 per cent.

Tables:

• Table 1 Norway's gross external debt position, by sector and financial instrument. 1st quarter 2003-1st quarter 2006. NOK million