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Statistical Press Release – Non-financial sector indebtedness – January 2020

Today, Banco de Portugal publishes statistics, in Table A.20 and A.21 of the Statistical Bulletin and in BPstat, on non-financial sector indebtedness (end-of-period positions and annual rates of change, respectively) for January 2020.

End-of-period positions

In January 2020 non-financial sector indebtedness stood at €722.5 billion, of which €319.4 billion referred to the public sector and €403.1 billion to the private sector. 

Compared with December 2019, non-financial sector indebtedness increased by €1.5 billion. This was caused by the €2.0 billion increase in public sector indebtedness, which was partly offset by the €0.5 billion reduction in private sector indebtedness (Chart 1).

The public sector indebtedness vis-à-vis the exterior increased by €3.7 billion, which was partly offset by developments in the other financing sectors, with emphasis on the decline in financing granted by households (€0.7 billion euros) and by the financial sector (€0.7 billion) (Chart 2).

The decrease in private sector indebtedness was mainly driven by a reduction in external (€0.3 billion) and financial sector (€0.2 billion) financing to corporations.

Annual rates of change (1)

In January 2020 the annual rate of change (a.r.) of private corporations’ total indebtedness was 0.5%, 0.2 percentage points (p.p.) down from the previous month. The a.r. of total households increased by 0.1 p.p., standing at 1.2%.

Next updarte: 22 Apr. 2020


(1) Annual rates of change in indebtedness reflect developments in total debt (including loans, debt securities and trade credits) of the non-financial private sector to the other institutional sectors (information on a consolidated basis). Annual rates of change are calculated on the basis of an index built from derived transactions, i.e. changes in end-of-period positions excluding reclassifications, revaluations, exchange rate variations and other changes that do not arise from financial transactions.