Balance of payments, first half of 2024
Increased holdings in foreign portfolio assets
Statistical news from Statistics Sweden 2025-01-24 8.00
Swedish holdings in foreign portfolio assets increased in the first half of 2024. Total holdings amounted to SEK 10 380 billion, which was an increase of 17 percent compared to the end of the second half of 2023. Holdings in shares accounted for the largest percentage increase. Holding in investment fund shares and debt securities did also increase, but not to the same extent as shares.
Portfolio assets consist of foreign shares, investment fund shares, and long-term and short-term debt securities.
At the end of June 2024, Swedish investors had 58 percent of their total foreign holdings of portfolio investments in shares. Investment fund shares accounted for 26 percent and debt securities 15 percent. The distribution among the different types of securities were almost the same in comparison to the end of December 2023.
Swedish holdings in foreign shares and investment fund shares have increased
Swedish holdings in foreign shares amounted to SEK 6 046 billion at the end of June 2024, which is an increase of 19 percent in comparison to the end of December 2023. Swedish investors’ largest holdings were in US shares, amounting to SEK 3 239 billion, equivalent to 54 percent of total Swedish holdings in shares abroad. The second largest holding consisted of shares issued in The United Kingdom with SEK 493 billion while shares issued in Switzerland were the third largest with SEK 271 billion.
Holdings in investment fund shares amounted to SEK 2 729 billion at the end of June 2024, an increase of 16 percent compared with the end of December 2023. Luxembourg continued to be the single largest country for Swedish holdings in foreign investment fund shares, accounting for SEK 1 483 billion, which was an increase of 19 percent compared to the end of December 2023.
Debt securities issued in US dollars and in Swedish kronor increased
Sweden’s holdings in debt securities abroad amounted to SEK 1 605 billion at the end of June 2024, an increase of 10 percent compared to the end of December 2023. Holdings in long-term debt securities amounted to SEK 1 545 billion. Short-term debt securities amounted to SEK 60 billion.
At the end of June 2024, holdings in debt securities were dominated by the currencies US dollars, euros, and Swedish kronor. Debt securities issued in US dollars amounted to SEK 491 billion, an increase of 8 percent compared with the end of December 2023. Swedish holdings in debt securities issued in euros amounted to SEK 469 billion at the end of June 2024, while debt securities issued in Swedish kronor amounted to SEK 403 billion. As a result, there was a 3 percent increase in debt securities issued in Swedish kronor compared to the end of December 2023.
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. For a share 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.