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Balance of payments, first half of 2022

Holdings in foreign portfolio assets decreased

Statistical news from Statistics Sweden 2023-01-27 8.00

Swedish holdings in foreign portfolio assets decreased in the first half of 2022. Total holdings amounted to SEK 7 837 billion, which was a decrease of 11 percent compared to the end of 2021. Holdings in foreign shares accounted for the largest percentage decrease, but funds and debt securities did also decrease.

Portfolio assets consist of foreign shares, investment fund shares, and long-term and short-term debt securities.

At the end of June 2022, Swedish investors had 54 percent of their total foreign holdings of portfolio investments in shares. Funds accounted for 28 percent and debt securities 18 percent. Although the levels are lower compared with the second half of 2021, the distribution among the different types of securities were almost the same.

Sweden’s portfolio assets distribution, SEK billions
Balance of payments, first half of 2022

Swedish holdings in foreign shares and fund shares decreased

Swedish holdings in foreign shares amounted to SEK 4 237 billion at the end of June 2022. This was a decrease of 15 percent compared to the end of 2021. Swedish investors’ largest holdings were in US shares, amounting to SEK 2 051 billion, equivalent to 48 percent of total Swedish holdings abroad. The second largest holding consisted of shares issued in The United Kingdom with 369 billion while shares issued in Switzerland were the third largest with 200 billion.

Swedish holdings in foreign shares, SEK billions
Balance of payments, first half of 2022

Holdings in funds amounted to SEK 2 172 billion at the end of June 2022, down by 5 percent compared with the end of 2021. Luxembourg continued to be the single largest country for Swedish holdings in foreign investment fund shares, accounting for SEK 1 164 billion, which was a decrease of 8 percent compared to the end of 2021.

Swedish holdings in foreign investment fund shares, SEK billions
Balance of payments, first half of 2022

Debt securities issued in US dollars increased

Sweden’s holdings in debt securities abroad amounted to SEK 1 429 billion at the end of June 2022, a decrease of 6 percent compared to the end of 2021. Holdings in long-term debt securities amounted to SEK 1 380 billion. Short-term debt securities amounted to SEK 49 billion.

At the end of June 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 470 billion, up by 5 percent compared with the end of 2021. Swedish holdings in debt securities issued in Swedish kronor amounted to SEK 398 billion at the end of 2021, while debt securities issued in euros amounted to SEK 326 billion.

Swedish holdings in foreign debt securities per currency, SEK billions
Balance of payments, first half of 2022

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.

Statistical agency

The Riksbank

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Statistics Sweden

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Linda Nihlwing

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Isak Werner

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