Norway’s general public domestic loan debt increased by 4.4% year-on-year to NOK 7.84 billion at the end of January 2026, following an upwardly revised 4.5% rise in the previous month, which had marked the highest growth since May 2023. Loan growth in both the household sector (4.7% vs 4.8% in December) and municipal government (6.5% vs 6.7%) eased, while lending to non-financial corporations remained unchanged (at 3.1%). source: Statistics Norway

The value of loans in Norway increased 4.40 percent in January of 2026 over the same month in the previous year. Loan Growth in Norway averaged 6.85 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 February of 2026.

The value of loans in Norway increased 4.40 percent in January of 2026 over the same month in the previous year. Loan Growth in Norway is expected to be 4.40 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 4.30 percent in 2027 and 4.10 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-01-29 07:00 AM
Loan Growth YoY
Dec 4.4% 3.9% 3.8%
2026-02-24 07:00 AM
Loan Growth YoY
Jan 4.4% 4.5% 4.5%
2026-03-26 07:00 AM
Loan Growth YoY
Feb 4.4%


Related Last Previous Unit Reference
Central Bank Balance Sheet 22013354.00 21948032.00 NOK Million Nov 2025
Deposit Interest Rate 3.00 3.00 percent Jan 2026
Foreign Exchange Reserves 851369.00 861206.00 NOK Million Jan 2026
Interbank Rate 4.00 4.00 percent Feb 2026
Norges Bank Interest Rate 4.00 4.00 percent Jan 2026
Lending Rate 5.00 5.00 percent Jan 2026
Loan Growth YoY 4.40 4.50 percent Jan 2026
Loans to Private Sector 2112192.00 2093114.00 NOK Million Jan 2026
Money Supply M0 272684.00 255004.00 NOK Million Jan 2026
Money Supply M1 3023028.00 2976909.00 NOK Million Jan 2026
Money Supply M2 3468600.00 3412829.00 NOK Million Jan 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
4.40 4.50 24.20 -4.40 1986 - 2026 percent Monthly
NSA

News Stream
Norway Loan Debt Growth Slows
Norway’s general public domestic loan debt increased by 4.4% year-on-year to NOK 7.84 billion at the end of January 2026, following an upwardly revised 4.5% rise in the previous month, which had marked the highest growth since May 2023. Loan growth in both the household sector (4.7% vs 4.8% in December) and municipal government (6.5% vs 6.7%) eased, while lending to non-financial corporations remained unchanged (at 3.1%).
2026-02-24
Norway Loan Debt Rises to Over 2-Year High
Norway’s general public domestic loan debt rose 4.4% year-on-year to NOK 7.81 billion at the end of December 2025 from a 3.9% gain in November, marking the highest level since May 2023. Credit expansion accelerated for non-financial corporations’ debt (2.9% vs 1.7% in November), and household debt (4.8% vs 4.5%), while municipal government held steady at 6.7%. Looking at the annualised one-month growth in December, general public debt surged 7% from 3.2% in the prior month. Household debt increased to 5.9% from 4.8%, municipal government debt rose to 5.1% from 0.5%, and non-financial corporations’ debt picked up to 9.8% from 1.1%.
2026-01-29
Norway Loan Debt Growth Steady at 3.9%
The general public’s domestic loan debt in Norway rose by 3.9% year-on-year to NOK 7.79 billion at the end of November 2025, matching the pace seen in the previous two months. This remained the softest growth since March, as loan debt growth in municipal government eased (6.7% vs 7.4% in October), which more than offset increases in loan debt among households (4.5% vs 4.4%) and non-financial corporations (1.8% vs 1.7%). Looking at the annualised one-month growth in November, the data indicated a 3.3% increase for the general public, slowing from a 4.2% growth in October.
2025-12-23