Balance of payments, second half of 2021
Swedish holdings in foreign portfolio assets continued to increase
Statistical news from Statistics Sweden 2022-09-14 8.00
The trend of increased holdings in foreign portfolio assets continued in the second half of 2021. At the end of 2021, total holdings amounted to SEK 8 801 billion, which was an increase of 8 percent compared to the end of June 2021. Holdings in foreign shares accounted for the largest percentage increase, but funds and debt securities did also increase.
Portfolio assets consist of foreign shares, investment fund shares, and long-term and short-term debt securities.
At the end of 2021, Swedish investors had 57 percent of their total foreign holdings of portfolio investments in shares. Funds accounted for 26 percent and debt securities 17 percent. Although the levels at the end of 2021 are higher compared with the first half of 2021, the distribution among the different types of securities were almost the same.
Swedish holdings in foreign shares and fund shares increased
Swedish holdings in foreign shares amounted to SEK 4 999 billion at the end 2021. This was an increase of 9 percent compared to the end of June 2021. Swedish investors’ largest holdings were in US shares, amounting to SEK 2 477 billion, equivalent to 50 percent of total Swedish holdings abroad. The second largest holding consisted of shares issued in The United Kingdom with 368 billion while shares issued in Switzerland were the third largest with 241 billion.
Holdings in funds amounted to SEK 2 286 billion at the end of 2021, up by 7 percent compared with the end of June 2021. Luxembourg continued to be the single largest country for Swedish holdings in foreign investment fund shares, accounting for SEK 1 273 billion, which was an increase of 6 percent compared to the end of June 2021.
Debt securities issued in US dollars remained the largest
Sweden’s holdings in debt securities abroad amounted to SEK 1 516 billion at the end of 2021, an increase of 8 percent compared to the end of June 2021. Holdings in long-term debt securities amounted to SEK 1 437 billion. Short-term debt securities amounted to SEK 79 billion which represents an increase of 130 percent compared to June 2021.
At the end of 2021, holdings in debt securities were dominated by the currencies US dollars, euros, and Swedish kronor. Debt securities issued in US dollars amounted to SEK 447 billion, up by 3 percent compared with the end of June 2021. Swedish holdings in debt securities issued in Swedish kronor amounted to SEK 422 billion at the end of 2021, while debt securities issued in euros amounted to SEK 347 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)
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.