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/en/bank-og-finansmarked/statistikker/k3/maaned
177308
Decrease in total debt growth
statistikk
2014-11-06T10:00:00.000Z
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, August 2014

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Decrease in total debt growth

The twelve-month growth in total gross debt (C3) was 4.8 per cent to end-August, down from 5.1 per cent the previous month. The decrease stemmed from both domestic and foreign debt sources.

Total gross dept (C3). Twelve-month growth. Per centPublished 6 November 2014
August 2014July 2014June 2014May 2014April 2014March 2014
Total gross debt (C3)4.85.15.45.96.36.1
Total gross loan debt, offshore ind.5.56.47.511.710.88.1
Total gross loan debt, mainland-Norway4.75.05.15.05.65.8
Domestic gross debt (C2)5.35.45.35.55.65.7
Gross external loan debt2.94.35.57.48.77.6
Gross external loan debt, offshore ind.6.37.69.515.214.012.1
Gross external loan debt, mainland-Norway0.01.52.21.24.44.0

Source: Statistics Norway

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

Total gross debt amounted to NOK 5 754 billion at end-August, down from NOK 5 764 billion at end-July.

Mainland Norway’s gross debt accounted for 87 per cent of the total gross debt at end-August. This amounted to NOK 4 983 billion, up from NOK 4 980 billion at end-July.

Decreased foreign debt growth

The general public gross foreign debt, which mainly relates to non-financial corporations, amounted to NOK 1 237 billion at end-August, down from NOK 1 253 billion the previous month. The twelve-month growth decreased from 4.3 per cent to end-July to 2.9 per cent to end-August.

Mainland Norway accounted for 52 per cent of the public gross foreign debt, which amounted to NOK 649 billion at end-August. The twelve-month growth in mainland Norway’s foreign debt was 0.0 per cent to end-August, down from 1.5 per cent to end-July. The decrease in mainland Norway’s foreign debt growth stemmed from both short and long-term debt.

Offshore industries accounted for the remainder of the foreign debt, which amounted to NOK 588 billion at end-August. The twelve-month growth was 6.3 per cent to end-August, down from 7.6 per cent to end-July. The decrease in the twelve-month growth rate for the offshore industries stemmed from long-term debt.

Weaker domestic debt growth in August

The credit indicator (C2) amounted to NOK 4 517 billion at end-August. The twelve-month growth was 5.3 per cent to end-August, moderately down from 5.4 per cent the month before. The debt growth in non-financial corporations was 2.4 per cent to end-August, while the growth in household debt was 6.5 per cent in the same period. The C2 statistics show that the twelve-month growth in the general public domestic debt remained unchanged at 5.3 per cent to end-September.