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248744
Stronger total loan debt growth
statistikk
2016-03-04T10:00:00.000Z
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, December 2015

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Stronger total loan debt growth

The twelve-month growth in total gross debt (C3) was 4.2 per cent to end-December 2015, up from 2.6 per cent the previous month. The increase stemmed from foreign debt sources.

Total gross debt (C3). Twelve-month growth. Per centPublished 4 March 2016
July 2015August 2015September 2015October 2015November 2015December 2015
Total gross debt (C3)6.55.76.15.42.64.2
Total gross loan debt, offshore ind.5.83.97.74.0-12.20.6
Total gross loan debt, mainland-Norway6.76.05.95.65.54.8
Domestic gross debt (C2)5.75.85.65.55.45.4
Gross external loan debt9.55.48.04.9-6.00.2
Gross external loan debt, offshore ind.7.54.810.05.5-14.61.0
Gross external loan debt, mainland-Norway11.46.06.04.43.9-0.5

Source: Statistics Norway

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

Total gross debt amounted to NOK 6 414 billion at end-December last year, up from NOK 6 399 billion at end-November.

Mainland Norway’s gross debt accounted for 86 per cent of the total gross debt at end-December. This amounted to NOK 5 484 billion.

Stronger foreign debt growth

The general public gross foreign debt, which mainly relates to non-financial corporations, amounted to NOK 1 501 billion at end-December, marginally up from NOK 1 500 billion the previous month. The twelve-month growth increased from -6.0 per cent to end-November to 0.2 per cent to end-December.

Mainland Norway accounted for 49 per cent of the public gross foreign debt, which amounted to NOK 738 billion at end-December. The twelve-month growth in mainland Norway’s foreign debt was -0.5 per cent to end-December, down from 3.9 per cent to end-November.

Offshore industries accounted for the remainder of the foreign debt, which amounted to NOK 763 billion at end-December. The twelve-month growth was 1.0 per cent to end-December, up from -14.6 per cent to end-November.

The increased foreign debt growth stemmed from short-term loan debt.

Unchanged domestic debt growth in December

The general public gross domestic loan debt (C2) amounted to NOK 4 913 billion at end-December. The twelve-month growth was 5.4 per cent to end-December, unchanged from the month before. The debt growth for non-financial corporations was 3.5 per cent from end-December 2014 to end-December 2015, while the growth in household debt was 6.1 per cent in the same period. The C2 statistics show that the twelve-month growth in the general public domestic debt decreased to 5.3 per cent to end-January 2016.