15803_not-searchable
/en/utenriksokonomi/statistikker/brutgjeld/kvartal
15803
Decrease in the gross external debt
statistikk
2009-09-11T10:00:00.000Z
External economy
en
brutgjeld, External debt position, loan debt, gross debt, debtForeign assets and liabilities , External economy
false

External debt position, Q2 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 the gross external debt

Norway's gross external debt amounted to NOK 3 497 billion at the end of the second quarter 2009. This is NOK 136 billion lower than at the end of the first quarter 2009.

Gross external debt by 1st quarter 2009 and 2nd quarter 2009 in NOK billion.

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

The gross external debt of Norges Bank decreased from NOK 160 billion by the end of the 1st quarter to NOK 124 billion by the end of the 2nd quarter this year; a decrease of 22 per cent. The gross external debt of the general government decreased by 14 per cent from the end of the 1st quarter to the end of the 2nd quarter this year. A reduction in repurchase agreements by the Government Pension Fund with non-residents is mostly responsible for the decrease in the debt. The banks had the largest share of foreign debt, with NOK 1 350 billion at the end of the second quarter 2009; a reduction from the previous quarter of NOK 64 billion, or 4.5 per cent. The external debt of the "other sectors" also decreased during this period by 1.4 per cent, whereas direct investment increased by 33 per cent.

 

The banks had the largest share, 39 per cent, of Norway’s gross external debt by the end of the second quarter 2009. The external debt of “other sectors” (including among other mortgage companies) made up 31 per cent and amounted to NOK 1 074 billion. The share of the general government and Norges Bank were 18 and 4 per cent respectively. Direct investments are shown separately and comprised 9 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, 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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