Balance of payments, first half of 2023
Increased holdings in foreign portfolio assets
Statistical news from Statistics Sweden 2024-01-26 8.00
Swedish holdings in foreign portfolio assets increased in the first half of 2023. Total holdings amounted to SEK 9 038 billion, which was an increase of 12 percent compared to the end of the second half of 2022. Holdings in shares accounted for the largest percentage increase. Holding in funds and long-term debt securities did also increase while holding in short-term debt securities decreased.
Portfolio assets consist of foreign shares, investment fund shares, and long-term and short-term debt securities.
At the end of June 2023, Swedish investors had 56 percent of their total foreign holdings of portfolio investments in shares. Funds accounted for 27 percent and debt securities 17 percent. The distribution among the different types of securities were almost the same between June and December 2023.
Swedish holdings in foreign shares and fund shares increase
Swedish holdings in foreign shares amounted to SEK 5 089 billion at the end of June 2023. This was an increase of 16 percent compared to the end of December 2022. Swedish investors’ largest holdings were in US shares, amounting to SEK 2 527 billion, equivalent to 50 percent of total Swedish holdings abroad. The second largest holding consisted of shares issued in The United Kingdom with 400 billion while shares issued in Switzerland were the third largest with 258 billion.
Holdings in funds amounted to SEK 2 457 billion at the end of June 2023, up by 8 percent compared with the end of December 2022. Luxembourg continued to be the single largest country for Swedish holdings in foreign investment fund shares, accounting for SEK 1 232 billion, which was an increase of 8 percent compared to the end of December 2022.
Debt securities issued in US dollars increased
Sweden’s holdings in debt securities abroad amounted to SEK 1 491 billion at the end of June 2023, an increase of 6 percent compared to the end of December 2022. Holdings in long-term debt securities amounted to SEK 1 422 billion. Short-term debt securities amounted to SEK 69 billion.
At the end of June 2023, holdings in debt securities were dominated by the currencies US dollars, euros and Swedish kronor. Debt securities issued in US dollars amounted to SEK 504 billion, up by 9 percent compared with the end of December 2022. Swedish holdings in debt securities issued in euros amounted to SEK 422 billion at the end of June 2023, while debt securities issued in Swedish kronor amounted to SEK 372 billion.
Definitions and explanations
This item of statistical news is based on the reporting of the Coordinated Portfolio Investment Survey (CPIS), carried out on the initiative of the International Monetary Fund (IMF), and to which numerous countries submit results biannually. CPIS reporting includes holdings in portfolio assets with the rest of the world and forms part of the international investment position in Sweden. Sweden has taken part in this survey since 2001. Assets in the first six months of the year are measured at the end of June, and in the second half of the year, assets are measured at the end of December.
As of the publication on the first six months of 2019, new data sources have been used for the compilation of Swedish portfolio investment abroad. This data was previously collected via questionnaire survey, but is now collected directly from the database on securities holdings (VINN).
For further information, see: New data sources for statistics on securities (scb.se)
In connection with the publication of December 2022, information regarding Swedish holdings of foreign shares and investment fund shares have been updated with new information for the period 2013–2018. For more information see the document:
Changes in the time series for statistics on securities, 2023-09-04
What are portfolio assets?
Trading and holdings in securities are grouped under the concept of portfolio investments, which includes shares, investment funds and debt securities. To be defined as a portfolio investment, the ownership share must be below 10 percent of the votes; if the ownership share is above 10 percent, it is defined as a direct investment.
Statistical Database
More information is available in the Statistical Database
Feel free to use the facts from this statistical news but remember to state Source: Statistics Sweden.