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Statistical Press Release – Non-financial sector indebtedness – June 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 June 2020.

End-of-period positions

At the end of the first half of 2020, non-financial sector indebtedness stood at €735.4 billion, of which €327.5 billion referred to the public sector and €407.9 billion to the private sector.

Compared to the end of 2019, non-financial sector indebtedness increased by €16.7 billion. This was caused by the €10.1 billion raise in public sector indebtedness and by the €6.6 billion increase in private sector indebtedness (Chart 1).

The rise in public sector indebtedness was mainly reflected in the increase of financing granted by the financial sector (€8.7 billion) and the non-resident sector (€1.3 billion) (Chart 2).

Regarding private sector indebtedness, corporations’ indebtedness increased by €5.7 billion, through the rise in financing granted by the financial sector (€8.9 billion). This growth was partly offset by a decrease in indebtedness vis-à-vis corporations and non-resident sector. The €0.9 billion increase in households’ financing was mainly driven by the financing from the corporations and the financial sector.

Annual rates of change (1)

In June 2020 the annual rate of change (arc) of private corporations’ total indebtedness was 3.9%, 2.9 percentage points (p.p.) more than the end of 2019. The annual rate of change of total households’ indebtedness decreased by 0.3 p.p., standing at 0.5%.

Next update: 21 Sep. 2020


Notes

(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.