This is an archived release.
Norwegians borrow more money
Norwegians' debt increased by 10 per cent from 2002 to 2003. The average debt of Norwegians was NOK 322 000 in 2003, an increase of NOK 28 000.
The average debt was NOK 457 300 for 25 to 34-year-olds and NOK 518 000 for 35 to 44-year-olds. The latter age group has the highest average debt. The average debt for people around 30 who are homeowners was NOK 734 900. In general, the peak in debt occurs at a younger age for homeowners than for other people.
Fall in interest paid
Norwegians paid 9.5 per cent less in interest in 2003 than in 2002, with an average NOK 18 000 per person. 35 to 44-year-olds paid most interest, with an average NOK 30 000 per person. The interest on loans fell from 8.7 per cent in 2002 to 4.7 per cent in 2003, and this is probably an important reason for the increase in debt. People who own their home paid three times as much in interest as other people.
Lower interest on saving
As the interest on savings correlates with the interest on loans, Norwegians received on average NOK 1 700 less in interest in 2003 than 2002. On average, Norwegians received NOK 5 600 in interest in 2003. People continued to save despite falling interest rates, as bank deposits increased by NOK 6 400 to an average NOK 130 600.
About the statistics
The basis of the statistics is the Directorate of Taxes' tax return register from the ordinary tax assessment and contains information about persons taxable to Norway. The tables contain information on resident persons aged 17 years and older. Income from self-employment in 2003 is not comparable with previous years, due to revised routines and rules as a result of increased use of net registration. The agricultural deductions are deducted from the income of self-employed before registration in the tax return.
- Table 1 Main entries from the tax return account. NOK million and the number of residents 17 years and older that have amount on the different income or property codes. 2001, 2002 and 2003
- Table 2 Average debt by gender, age and county for residents 17 years and older. 2001-2003. NOK
- Table 3 Average interests of debt by gender, age and county for residents 17 years and older. 2001-2003. NOK
- Table 4 Gifts to voluntary organizations, by county. The number of resident persons 17 years and over and average in NOK. 2003