Balance of payments, second half of 2022
Increased holdings in foreign portfolio assets
Statistical news from Statistics Sweden 2023-09-14 8.00
Swedish holdings in foreign portfolio assets increased in the second half of 2022. Total holdings amounted to SEK 8 065 billion, which was an increase of 1 percent compared to the end of the first half of 2022. Holdings in short-term debt securities accounted for the largest percentage increase. Holdings in shares did also increase while holdings in funds decreased.
Portfolio assets consist of foreign shares, investment fund shares, and long-term and short-term debt securities.
At the end of December 2022, Swedish investors had 54 percent of their total foreign holdings of portfolio investments in shares. Funds accounted for 28 percent and debt securities 17 percent. The distribution among the different types of securities were almost the same between December and June 2022.
Swedish holdings in foreign shares increase while holdings in fund shares decrease
Swedish holdings in foreign shares amounted to SEK 4 385 billion at the end of December 2022. This was an increase of 4 percent compared to the end of June 2022. Swedish investors’ largest holdings were in US shares, amounting to SEK 2 131 billion, equivalent to 49 percent of total Swedish holdings abroad. The second largest holding consisted of shares issued in The United Kingdom with 357 billion while shares issued in Switzerland were the third largest with 211 billion.
Holdings in funds amounted to SEK 2 269 billion at the end of 2022, down by 2 percent compared with the end of June 2022. Luxembourg continued to be the single largest country for Swedish holdings in foreign investment fund shares, accounting for SEK 1 132 billion, which was a decrease of 9 percent compared to the end of June 2022.
Debt securities issued in US dollars decreased
Sweden’s holdings in debt securities abroad amounted to SEK 1 411 billion at the end of December 2022, a decrease of 1 percent compared to the end of June 2022. Holdings in long-term debt securities amounted to SEK 1 339 billion. Short-term debt securities amounted to SEK 72 billion.
At the end of December 2022, holdings in debt securities were dominated by the currencies US dollars, euros, and Swedish kronor. Debt securities issued in US dollars amounted to SEK 463 billion, down by 1 percent compared with the end of June 2022. Swedish holdings in debt securities issued in Swedish kronor amounted to SEK 381 billion at the end of December 2022, while debt securities issued in euros amounted to SEK 368 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 further information, see: Changes in the time series for statistics on securities, 2023-09-04 (scb.se)
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.