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Statistical Press Release – Non-financial sector indebtedness – September 2019

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 September 2019.

End-of-period positions

In September 2019 non-financial sector indebtedness stood at €725.8 billion, of which €319.9 billion referred to the public sector and €405.9 billion to the private sector. 

Compared to August 2019, non-financial sector indebtedness went up by €1.9 billion. This mostly stemmed from a €1.7 billion increase in private sector indebtedness, along with an increase of €0.2 billion in public sector indebtedness (Chart 1). 

The rise in private sector indebtedness was mainly driven by an increase in external financing to corporations, amounting to €1.5 billion. In addition, financing from the financial sector to households increased by €0.2 billion. 

The increase in public sector indebtedness resulted mainly in an increase in external financing (€1.1 billion), which was partly offset by a decline in financing granted by the financial sector (€0.8 billion) (Chart 2).

Annual rates of change (1)

In September, the annual rate of change (a.r.) of private corporations’ total indebtedness was 1.5%, a decrease of 0.1 percentage points from the previous month. The a.r. of total households increased by 0.2 percentage points, standing at 0.5%.

Next update: 19 Dec. 2019


(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.