External debt position, Q4 2005

The banks contributed the most to Norway's Gross External Debt Position in 2005, with liabilities amounting to NOK 639 billion. Other sectors in total, comprising financial enterprises except banks (financing companies, insurance companies etc.), non-financial enterprises and households, also had a substantial share, NOK 527 billion. The banks and other sectors in total also contributed the most to the growth in the external debt from the end of the 4th quarter of 2004 to the same period in 2005, with an increase of NOK 173 and NOK 61 billion, respectively. The Central Government's Gross External Debt was also higher by the end of 2005 than at the same time in 2004, whereas the debt of the Monetary Authorities declined slightly.

The increase in the Gross External Debt Position between the 3rd and 4th quarters of 2005 can also largely be attributed to other sectors in total and banks, with a growth of NOK 31 and NOK 28 billion, respectively. The main part of these increases is due to higher holdings of Bonds and Notes. The Central Government showed a decrease of NOK 40 billion in its Gross External Debt from the end of the 3rd to the end of the 4th quarter of 2005, which was mainly caused by lower short-term debt. The Monetary Authorities' Gross External Debt also decreased slightly from the end of the 3rd to the end of the 4th quarter of 2005.

Tables:

• Table 1 Norway's Gross External Debt Position by sector and financial instrument. 1st. Quarter 2003 - 4th. Quarter 2005. Million NOK