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4465
Decline in loans to manufacturing industry
statistikk
2010-04-09T10:00:00.000Z
Banking and financial markets
en
orbofbm, Financial corporations, balance sheet, banks, mortgage companies, finance companies, state lending institutions, loans, deposits, financing, mortgages, bonds, commercial papers, shares, ownership interest, assets, liabilities, foreign banks, borrowers, balancesFinancial institutions and other financial corporations, Banking and financial markets
false

Financial corporations, balance sheet, February 2010

As from 2016 the statistics is published with Banks and mortgage companies.

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Decline in loans to manufacturing industry

Total loans from Norwegian banks to the manufacturing industry decreased from NOK 74 billion at the end of May 2009 to NOK 61 billion at the end of February 2010. This equals a reduction of 16.8 per cent.

Banks. Loans to manufacturing industry. May 2009-February 2010

Banks. Total industry loans. February 2000-February 2010

Loans to the manufacturing industry accounted for 6.2 per cent of total loans to Norwegian industries for Norwegian banks at the end of February 2010. In a historical perspective, the loans to the manufacturing industry are relatively high in volume, even if the volume of loans today is considerably lower than in 2007 and 2008.

Decline in total loans to industries

Norwegian banks’ total loans to industries amounted to NOK 990 billion at the end of February 2010. From February 2009 to February 2010 the loans to Norwegian industries declined by NOK 60 billion, which equals a reduction of 5.7 per cent.

Lower demand from the companies together with more stringent credit practice by the banks may have influenced the decline in loans last year. However, total loans to Norwegian industries can still be considered to be at a high level.

Loans by industry. May 2009-February 2010. NOK million
Borrower industry May 2009 June 2009 July 2009 August 2009 September 2009 October 2009 November 2009 December 2009 January 2010 February 2010
Total industry loans 1 034 478 1 028 899 1 015 271 1 005 264  993 087  994 522  995 366  982 090  984 787  990 415
                     
Agriculture 33 259 32 851 33 113 33 295 33 321 33 533 33 494 34 079 34 255 33 164
Forestry 2 150 2 244 2 245 2 238 2 234 2 231 2 238 2 258 2 250 2 220
Fishing and hunting 21 471 20 869 20 742 20 780 20 859 20 905 21 102 21 474 21 840 21 502
Fish farming services 11 922 12 407 12 416 12 305 12 720 12 643 12 798 12 397 12 249 11 829
Mining and quarrying 1 830 1 946 1 890 1 916 1 899 1 856 1 873 1 956 1 935 1 966
Services linked to extraction of crude petroleum and natural gas 19 791 19 266 18 682 18 193 16 789 15 802 15 733 12 993 12 929 13 274
Extraction of crude petroleum and natural gas 1 222 1 488 1 680 1 533 1 697 1 653 1 847 1 532 1 047 1 229
Manufacturing 73 890 70 553 69 306 67 022 66 897 65 984 63 637 61 219 61 621 61 496
Ship and boat building 12 782 12 262 12 235 12 746 12 768 12 734 13 446 13 124 12 432 12 649
Electricity and water supply 24 608 22 736 22 989 22 284 22 400 21 707 23 011 22 863 26 201 27 136
Water supply, drainage and waste disposal 2 849 2 916 2 972 3 067 3 093 3 112 3 145 3 173 3 173 3 157
Real estate development 51 342 52 675 52 250 51 179 51 159 51 502 51 175 49 777 49 444 49 185
Building and construction work 24 583 26 007 25 424 25 784 25 073 24 260 24 102 23 403 23 746 24 179
Commodity trade etc 67 846 67 556 66 628 63 850 62 627 61 827 61 901 59 549 60 255 62 668
Sea transport abroad and transport via pipelines 78 751 83 857 82 484 80 626 78 598 76 433 76 966 76 865 76 861 78 203
Transportation and storage 28 524 27 821 27 249 26 925 26 260 25 855 25 699 25 880 25 742 25 528
Hotels and restaurants 10 756 10 609 10 587 12 581 12 406 12 537 12 075 11 397 11 457 10 982
Information and communication 17 936 16 926 15 911 15 969 13 791 14 024 13 900 12 865 12 926 12 862
Real estate, renting and business activities  396 769  397 586  398 324  399 080  397 662  404 585  407 832  407 796  406 566  408 851
Professional and financial services 94 903 90 002 84 075 80 862 78 354 78 012 76 754 75 469 75 638 75 869
Businesslike services 30 275 26 359 23 933 22 432 21 827 22 973 22 747 22 732 22 963 23 112
Other service activities 27 019 29 963 30 136 30 597 30 653 30 354 29 891 29 289 29 257 29 354

From end-May 2009 to end-February 2010, total industry loans from Norwegian banks declined by 4.3 per cent .

Small changes in loans to real estate activities and shipping

The industry consisting of real estate, renting and business activities is by far the largest borrowing industry in Norwegian banks, accounting for 41.3 per cent of total bank loans to Norwegian industries. By the end of February 2010 the stock of outstanding loans to real estate businesses in Norwegian banks amounted to NOK 409 billion. The increase from May 2009 to February 2010 was 3.1 per cent.

Banks. Loans to shipping industry. February 2000-February 2010

Loans to sea transport abroad and transport via pipelines, also called shipping, amounted to NOK 78 billion at the end of February 2010. The loans account for 7.9 per cent of total loans to industries from Norwegian banks. This industry is unaffected by the change in industry classification, which makes it possible to look at a longer time series for this industry.

Loans to the shipping industry have increased considerably in recent years. From September 2005 to October 2009 the 12-month growth rates were never less than 10 per cent. However, the 12-month growth in February 2010 was -2.6 per cent.

In the period from September 2005 to February 2010, between 58 and 81 per cent of Norwegian banks’ loans to the shipping industry were in foreign currencies. As all data in the balance sheet are converted to Norwegian currency, fluctuations in the Norwegian currency against foreign currencies therefore have an effect on the balance sheet figures concerning these loans.

Real estate activities and shipping, together with the manufacturing industry are often referred to as industries particularly exposed to the business cycles. It is therefore likely that the turbulence in the international financial markets and the dampened international and national economic growth can be used as an explanation for some of the development in these industries.

Decline in loans to service industries

The loans to professional and financial services and businesslike services were reduced by 20.1 and 23.7 per cent respectively from May 2009-February 2010. The growth from January to February 2010 was positive and amounted to 0.3 and 0.6 per cent respectively. Professional and financial services` total loans amounted to NOK 76 billion, while loans to businesslike services amounted to NOK 23 billion. Total loans to these industries accounted for about 10.0 per cent of total loans to Norwegian industries.

New industry classification

The industry classification in the financial statistics changed in May 2009, as Statistics Norway introduced a new version of the Norwegian industry classification, SIC2007 . This has made comparisons of industrial loans before and after May 2009 difficult for some of the industries.

The change in industry classification constitutes more details and possibilities to follow the development in borrowing for the different industries.