15805_not-searchable
/en/utenriksokonomi/statistikker/brutgjeld/kvartal
15805
Decrease in banks’ gross external debt
statistikk
2009-06-05T10:00:00.000Z
External economy
en
brutgjeld, External debt position, loan debt, gross debt, debtForeign assets and liabilities , External economy
false

External debt position, Q1 2009

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The External debt statistics were subject to a major review in 2013 dating back to 2005. Text and tables in this publication contain errors. Updated figures are available in StatBank.

Decrease in banks’ gross external debt

Norway's gross external debt amounted to NOK 3 633 billion at the end of the first quarter 2009. The banks had 39 per cent of Norway’s total foreign debt.

Gross external debt by 4th quarter 2008 and 1st quarter 2009 in NOK billion.

The main purpose of the statistics is to fulfil Norway’s obligations to the International Monetary Fund (IMF).

Norway’s gross external debt decreased from NOK 3 910 billion in the fourth quarter of 2008 to NOK 3 633 billion in the first quarter of 2009. The banks had the largest share of foreign debt, with NOK 1 414 billion at the end of the first quarter 2009; a reduction from the previous quarter of NOK 130 billion. The banks’ decline was mainly caused by a decrease in bonds and other short-term debt liabilities. The second largest sector, which financed the lending activity with bonds and other short-term debt liabilities, was mortgage companies. At the end of the first quarter 2009, the mortgage companies’ foreign debt amounted to NOK 608 billion.

The banks had the largest share, with 39 per cent, of Norway’s gross external debt by the end of the first quarter 2009. The external debt of “other sectors” (which includes mortgage companies) made up 30 per cent and amounted to NOK 1 089 billion. The share of the general government and Norges Bank were 20 and 4 per cent respectively. Direct investments are shown separately and comprised 6 per cent of Norway’s total foreign debt.

The statistics include the sectors general government, Norges Bank, banks and “other sectors”, which include non-bank financial enterprises (insurance/and mortgage companies among others), non-financial enterprises, households and non-profit institutions serving households. Inter-company lending between entities in a direct investment relationship is shown separately. The direct investments inter-company lending between entities is netted according to the directional principle. Shares, participations and other equity capital are not included in external debt.

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