Monday, 8 July 2013

The credit indicator C3 for Norway, April 2013: Increase in Total Debt Growth

Statistics Norway reports,

The twelve-month growth in total gross debt (C3) was 6.7 per cent to end-April, up from 4.6 per cent the previous month. The increase stemmed from both domestic and foreign debt sources.

Total gross dept (C3). Twelve-month growth. Per cent. 
April 2013March 2013February 2013January 2013December 2012November 2012
Total gross debt (C3)6.74.69.19.07.06.4
Total gross loan debt, offshore ind.8.4-1.730.229.613.70.4
Total gross loan debt, mainland-Norway6.45.66.36.46.07.4
Domestic gross debt (C2)6.56.26.36.36.57.1
Gross external loan debt7.4-1.420.920.48.63.9
Gross external loan debt, offshore ind.12.0-3.242.241.317.6-2.7
Gross external loan debt, mainland-Norway3.60.25.55.81.710.2
The credit indicator C3, by credit sources. Twelve-month growth. Per cent

The credit indicator C3, by credit sources. Twelve-month growth. Per cent

Total gross debt amounted to NOK 5 264 billion at end-April, up from NOK 5 219 billion at end-March.
Mainland Norway’s gross debt accounted for 87 per cent of the total gross debt at end-April. This amounted to NOK 4 588 billion, up from NOK 4 547 billion the previous month.

Increase in foreign debt growth

The general public gross foreign debt, which mainly relates to non-financial corporations, amounted to NOK 1 080 billion at end-April, up from NOK 1 062 billion the previous month. The twelve-month growth increased from -1.4 per cent to end-March to 7.4 per cent to end- April.
Mainland Norway accounted for 53 per cent of the public gross foreign debt, which amounted to NOK 576 billion at end-April. The twelve-month growth in mainland Norway’s foreign debt was 3.6 per cent to end-April, up from 0.2 per cent to end-March. The increase in mainland Norway’s foreign debt stemmed from long-term debt.
Offshore industries accounted for the remainder of the foreign debt, which amounted to NOK 504 billion at end-April. The twelve-month growth was 12.0 per cent to end-April, up from -3.2 per cent to end-March. The increase in the twelve-month growth rate for the offshore industries mainly stemmed from short-term debt.

Increase in domestic debt growth in April

The credit indicator (C2) amounted to NOK 4 184 billion at end-April. The twelve-month growth was 6.5 per cent to end-April, up from 6.2 per cent the month before. The debt growth in non-financial corporations was 4.0 per cent to end-April, while the growth in household debt was 7.7 per cent in the same period. The C2 statistics show that the twelve-month growth in the general public domestic debt decreased to 6.4 per cent to end-May. 

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