161998_not-searchable
/en/bank-og-finansmarked/statistikker/k3/maaned
161998
Reduced total debt growth
statistikk
2014-08-15T10:00:00.000Z
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, May 2014

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Reduced total debt growth

The twelve-month growth in total gross debt (C3) was 5.6 per cent to end-May, down from 5.9 per cent the previous month. The decrease stemmed from both domestic and foreign debt sources.

Total gross dept (C3). Twelve-month growth. Per centPublished 15 August 2014
May 2014April 2014March 2014February 2014January 2014December 2013
Total gross debt (C3)5.65.95.75.05.76.1
Total gross loan debt, offshore ind.12.310.68.54.07.86.4
Total gross loan debt, mainland-Norway4.65.25.35.25.46.1
Domestic gross debt (C2)5.55.65.75.85.76.0
Gross external loan debt5.86.75.62.25.86.5
Gross external loan debt, offshore ind.15.913.812.56.011.710.0
Gross external loan debt, mainland-Norway-2.20.80.0-1.10.93.7

Source: Statistics Norway

Figure 1. The credit indicator C3. 12-month growth

Total gross debt amounted to NOK 5 686 billion at end-May, up from NOK 5 665 billion at end-April.

Mainland Norway’s gross debt accounted for 86 per cent of the total gross debt at end-May. This amounted to NOK 4 913 billion, up from NOK 4 894 billion at end-April.

Weaker foreign debt growth

The general public gross foreign debt, which mainly relates to non-financial corporations, amounted to NOK 1 217 billion at end-May, down from NOK 1 222 billion the previous month. The twelve-month growth decreased from 6.7 per cent to end-April to 5.8 per cent to end-May.

Mainland Norway accounted for 51 per cent of the public gross foreign debt, which amounted to NOK 625 billion at end-May. The twelve-month growth in mainland Norway’s foreign debt was -2.2 per cent to end-May, down from 0.8 per cent to end-April. The decrease in mainland Norway’s foreign debt stemmed from both short and long-term debt.

Offshore industries accounted for the remainder of the foreign debt, which amounted to NOK 592 billion at end-May. The twelve-month growth was 15.9 per cent to end-May, up from 13.8 per cent to end-April. The increase in the twelve-month growth rate for the offshore industries stemmed from short-term debt.

Reduced domestic debt growth

The credit indicator (C2) amounted to NOK 4 469 billion at end-May. The twelve-month growth was 5.5 per cent to end-May, moderately down from 5.6 per cent the month before. The debt growth in non-financial corporations was 2.8 per cent to end-May, while the growth in household debt was 6.7 per cent in the same period. The C2 statistics show that the twelve-month growth in the general public domestic debt fell to 5.4 per cent to end-June.