Norway’s general public domestic loan debt increased by 4.9% year-on-year to NOK 8.09 trillion at the end of September 2026, following a 4.5% rise in the previous month. This marked the fastest pace of increase since May 2023. Lending growth to non-financial corporations accelerated to 5.9% from 4.8%, reaching NOK 2.44 trillion, while loans to municipal governments rose by 4.4%, up from 3.0%, to NOK 0.84 trillion. Meanwhile, lending growth to households eased slightly to 4.5% from 4.6%, with outstanding loans totaling NOK 4.81 trillion. On a seasonally adjusted annualized one-month basis, total loan debt for the general public grew by 6.0%, following a 5.6% increase in August. source: Statistics Norway

The value of loans in Norway increased 4.90 percent in September of 2026 over the same month in the previous year. Loan Growth in Norway averaged 6.81 percent from 1986 until 2026, reaching an all time high of 24.20 percent in February of 1987 and a record low of -4.40 percent in October of 1992. This page provides - Norway Loan Growth- actual values, historical data, forecast, chart, statistics, economic calendar and news. Norway Credit Indicator - data, historical chart, forecasts and calendar of releases - was last updated on October of 2026.

The value of loans in Norway increased 4.90 percent in September of 2026 over the same month in the previous year. Loan Growth in Norway is expected to be 4.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Norway Credit Indicator is projected to trend around 4.60 percent in 2027 and 4.50 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-09-24 06:00 AM
Loan Growth YoY
Aug 4.5% 4.3% 4.3%
2026-10-28 07:00 AM
Loan Growth YoY
Sep 4.9% 4.5% 4.5%
2026-11-24 07:00 AM
Loan Growth YoY
Oct 4.9%


Related Last Previous Unit Reference
Central Bank Balance Sheet 22942389.00 22744759.00 NOK Million Sep 2026
Deposit Interest Rate 3.50 3.50 percent Oct 2026
Foreign Exchange Reserves 856583.00 847308.00 NOK Million Sep 2026
Interbank Rate 4.50 4.50 percent Oct 2026
Norges Bank Interest Rate 4.50 4.25 percent Sep 2026
Lending Rate 5.50 5.50 percent Oct 2026
Loan Growth YoY 4.90 4.50 percent Sep 2026
Loans to Private Sector 2187690.00 2177984.00 NOK Million Sep 2026
Money Supply M0 127096.00 141409.00 NOK Million Sep 2026
Money Supply M1 3142803.00 3124440.00 NOK Million Sep 2026
Money Supply M2 3621477.00 3597475.00 NOK Million Sep 2026
Money Supply M3 3635562.00 3617420.00 NOK Million Sep 2026


Norway Credit Indicator
Loan growth in Norway refers to an annual change in the general public’s gross domestic debt.
Actual Previous Highest Lowest Dates Unit Frequency
4.90 4.50 24.20 -4.40 1986 - 2026 percent Monthly
NSA

News Stream
Norway Loan Debt Rises 4.9% in September
Norway’s general public domestic loan debt increased by 4.9% year-on-year to NOK 8.09 trillion at the end of September 2026, following a 4.5% rise in the previous month. This marked the fastest pace of increase since May 2023. Lending growth to non-financial corporations accelerated to 5.9% from 4.8%, reaching NOK 2.44 trillion, while loans to municipal governments rose by 4.4%, up from 3.0%, to NOK 0.84 trillion. Meanwhile, lending growth to households eased slightly to 4.5% from 4.6%, with outstanding loans totaling NOK 4.81 trillion. On a seasonally adjusted annualized one-month basis, total loan debt for the general public grew by 6.0%, following a 5.6% increase in August.
2026-10-28
Norway Loan Debt Rises 4.5% in August
Norway’s general public domestic loan debt rose by 4.5% year-on-year to NOK 8.05 trillion at the end of August 2026, following an eight-month low of 4.3% growth in the previous month. Lending growth to non-financial corporations increased to 4.8% from 4.0%, reaching NOK 2.42 trillion, while household loan growth remained steady at 4.6%, totaling NOK 4.79 trillion. In contrast, municipal government loan debt growth eased to 3.0% from 3.4% a month earlier, reaching NOK 8.38 billion. On a seasonally adjusted annualized one-month basis, total loan debt for the general public grew by 5.3%, following a 3.8% increase in the prior period.
2026-09-24
Norway Loan Debt Up 4.3% in July
Norway’s general public domestic loan debt rose by 4.3% year-on-year to NOK 8.01 trillion at the end of July 2026, easing slightly from a 4.4% increase in the previous month. Lending growth to non-financial corporations eased to 4.0% from 4.1% in June, reaching NOK 2.41 trillion, while that to municipal government moderated to 3.4% from 3.7%, totaling NOK 836.6 billion. Meanwhile, household loan debt rose by 4.6% to NOK 4.77 trillion, following a 4.7% increase in June. On a seasonally adjusted annualized one-month basis, total loan debt for the general public grew by 4.3%, easing from a 4.4% rise in the prior period.
2026-08-24