Industry revenue of »activities of collection agencies and credit bureaus« in Norway 2011-2023

Healthy economic development and low interest rates have combined to create a high credit demand in most of the Nordic countries, including Norway. This has in turn driven the activities of collection agencies and credit bureaus, with revenues expected to increase from 627 million U.S. dollars in 2018 to 676 million U.S dollars in 2023. This is despite the various cultural and demographic challenges the country faces.

Stable credit rating augurs well for the industry

The AAA rating given to Norway is an indication of its large fiscal buffers, economic strength, strong per-capita wealth and flexible labor market conditions. Therefore it came as no surprise when the impact on the economy from the oil price slump was relatively minimal as compared to the fall in oil price fall itself.

Industry revenue of »activities of collection agencies and credit bureaus« in Norway from 2011 to 2023

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Norway. The industry “activities of collection agencies and credit bureaus“ has the code “N8291“.

Details on the methodology can be found here.

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