External debt position, Q4 2010

Other sectors, which include financial enterprises other than banks, non-financial enterprises and households, have the largest foreign debt. At the end of the 4th quarter of 2010, foreign debt had accumulated to NOK 1 267 billion. At the same point in time last year, other sectors had NOK 1 058 billion in foreign debt. The change was largely due to an increase in mortgage companies’ bond debt from NOK 526 billion to NOK 675 billion.

Public sector has foreign debt of NOK 562 billion

The foreign debt of the public sector also increased. At the end of the 4th quarter of 2010 it amounted to NOK 562 billion, compared with NOK 457 billion at the same time in 2009.

Reduction for the banks

The banks reduced their foreign debt by NOK 129 billion in 2010. The banks’ foreign debt amounted to NOK 1 187 billion at the end of the 4th quarter of 2010. At the same point in time last year, banks' foreign debt was NOK 1315 billion. Banks' deposits from abroad were reduced by almost NOK 70 billion.

Liabilities on direct investments in Norway by foreigners rose by NOK 140 billion to NOK 414 billion at the end of the 4th quarter of 2010. This is an increase from approximately 9 per cent of total foreign debt in 2009 to 12 per cent in 2010.

Tables:

• Table 1 Norway's External Debt Position, by sector and financial instrument. NOK million