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4313
Strong growth in total gross debt
statistikk
2007-02-08T10:00:00.000Z
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, November 2006

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Published:

This is an archived release.

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Strong growth in total gross debt

The total gross debt of the public, C3, amounted to NOK 3 100 billion at end-November. Twelve-month growth was 14.9 per cent to end-November, down from 15.0 per cent to end-October. The external loan debt now grows even more rapidly than the domestic debt.

The Credit indicator C3 by credit sources. Percentage change from the same month one year before

Through 2006 the annual growth in the public’s external loan debt has risen, and now is even higher than the growth in their domestic debt. The gross external loan debt does not any longer damp down the growth in total gross debt to the public, C3, as it did earlier in the business cycle we are in for the moment.

Mainland Norway’s external debt increases

The public’s gross external loan debt, which mainly relates to non-financial enterprises, amounted to NOK 534 billion at end-November. Of this, NOK 304 billion relates to mainland Norway. Twelve-month growth in the public’s gross external loan debt fell from 16.9 per cent to 15.5 per cent, while mainland Norway’s gross external loan debt rose from 18.7 per cent to 22.7 per cent through November. This was the highest growth rate in mainland gross external loan debt since the summer of 2001. Twelve-month growth in the gross external loan debt of the offshore industries fell from 14.8 per cent to 7.8 per cent through November. See also The Public’s External Loan Debt.

Increasing growth in domestic credit in November

The credit indicator C2 amounted to NOK 2 566 billion at end-November. Twelve-month growth was 14.8 per cent to end-November, up from 14.6 per cent to end-October. See also the C2 statistics .

The Credit indicator C3 by credit
sources. Percentage change from
the same month one year before
  Sep 2006 Oct 2006 Nov 2006
  Per cent
Total debt (C3) 15.3 15.0 14.9
Domestic debt C21 15.0 14.6 14.8
Utenlandsk gjeld 16.5 16.9 15.5
1  The growth rates for C2 are in the table
presented as they were on the time of
the C3 release.

C3 is an approximate measure of the size of the total gross debt of the public (households, non-financial enterprises and municipalities) in NOK and foreign exchange. C3 comprises the sum of C2 (the public’s domestic gross debt) and the public’s external loan debt where C2 constitutes the major part. The C3 statistics is published approximately one month later than C2.