Stronger growth in total loan debt in NorwayStaff Writer | January 9, 2017
The twelve-month growth in total gross debt (C3) was 5.9 percent to end-October 2016, up from 3.6 percent the previous month. The increase stemmed from foreign debt sources.
Economy in Norway Total gross debt amounted to NOK 6,699 billion
Mainland Norway’s gross debt accounted for 85 percent of the total gross debt at end-October. This amounted to NOK 5,667 billion.
The general public gross foreign debt, which mainly relates to non-financial corporations, amounted to NOK 1,586 billion at end-October, up from NOK 1,505 billion the previous month.
The twelve-month growth increased from -0.9 percent to end-September to 8.4 percent to end-October.
Mainland Norway accounted for 45 percent of the public gross foreign debt, which amounted to NOK 713 billion at end-October. The twelve-month growth in mainland Norway’s foreign debt was -0.5 percent to end-October, up from -5.7 to end-September.
Offshore industries accounted for the remainder of the foreign debt, which amounted to NOK 874 billion at end-October. The twelve-month growth was 17 percent to end-October, up from 3.6 percent to end-September. ■