Financial Accounts first quarter 2025
Households sold foreign shares and funds in the first quarter of 2025
Statistical news from Statistics Sweden 2025-06-19 8.00
Households' liquid savings in the first quarter of 2025 amounted to SEK 34 billion. This is the lowest measured savings in a first quarter since 2020.
"In the first quarter, the trend of high savings that we saw in all quarters of 2024 was broken. Households borrowed more and invested less in stocks and funds than they did in 2024. It was mainly net sales of foreign shares and funds that contributed to the low savings," says Emil Hermansson, economist at the financial accounts.
Households' liquid savings, i.e. their net transactions in financial liquid assets less net uptake of loans, amounted to SEK 34 billion during the first quarter of the year. This is a decrease of SEK 3 billion compared to the previous quarter and by SEK 69 billion compared to the corresponding quarter last year.
Households net sold investment funds in the first quarter of 2025 to a total of SEK 1 billion. During the same period, households had net deposits with banks and other monetary financial institutions of SEK 14 billion. Households' net borrowing, i.e. new loans minus amortisation, amounted to SEK 29 billion, which is an increase of SEK 2 billion compared with the previous quarter and by SEK 16 billion compared with the corresponding quarter last year.
Households' net financial wealth
Net financial wealth measures the sum of households' financial assets minus their total debts. At the end of the first quarter of 2025, households' net financial wealth amounted to SEK 16,201 billion, which corresponds to 252 percent of GDP. Since the first quarter of 1996, households' net financial wealth as a share of GDP has increased by 189 percentage points.
When comparing every first quarter since 1996, households' financial assets and liabilities as a share of GDP were both at their highest in 2021, when they amounted to 368 per cent and 99 per cent of GDP respectively. Overall, the financial net worth in the first quarter of 2021 peaked at 270 percent. Compared with 2021, both households' financial assets and liabilities have increased, but as GDP in current prices has increased at a faster pace, partly due to inflation, assets and liabilities have decreased relative to GDP.
Financing of non-financial corporations
In the first quarter of 2025, non-financial corporations financed themselves with net borrowing, i.e. new loans minus amortisation from monetary financial institutions to a value of SEK 11 billion. In the previous quarter, non-financial corporations had a negative net borrowing of SEK 31 billion, and in the corresponding quarter last year, it was SEK 2 billion.
Financing through interest-bearing securities, new issues minus maturities and repurchases, amounted to SEK -21 billion in the first quarter of 2025. In the previous quarter, non-financial corporations reduced their debt in debt securities by SEK 16 billion and in the corresponding quarter of the year before they reduced their debt by SEK 48 billion.
Total loans from monetary financial institutions amounted to SEK 2,837 billion at the end of the quarter. The value of issued debt securities amounted to SEK 1,412 billion.
Revisions
In the publication of the financial accounts for the first quarter of 2025, revisions have been made back to 2021 in order to improve the statistics where new data have become available. The revisions affect both the time series for years and quarters.
The foreign sector has been revised back to 2021 with new data from the balance of payments.
Definitions and explanations
In the statistical news, reference is made to the liquid financial savings of households. It is calculated as the difference between transactions in financial assets and liabilities excluding accruals (tax accruals, occupational pensions and other technical provisions). For more information, see the Financial Accounts Quality Declaration, section 1.2.2.
The aim of financial accounts is to provide information on financial assets and liabilities as well as changes in financial savings and financial wealth for different sectors of society. The statistics are presented in current prices and do not take inflation into account.
The financial savings in financial accounts is calculated as the difference between transactions in financial assets and liabilities. In the Real Sector Accounts, which, like the Financial Accounts, are part of the National Accounts, financial savings are calculated as the difference between income and expenses. However, financial accounts and real sector accounts are based on different sources, which gives rise to differences between these two products.
In the Financial Accounts, the government debt is calculated differently from the government debt metric that is most frequently reported and which is calculated according to the convergence criteria – the ‘Maastricht debt’. The definition of the Maastricht debt does not include all financial instruments, the instruments are presented in nominal value and the liabilities for government administration are consolidated. The government debt in the Financial Accounts is unconsolidated and includes all financial instruments at market value.
In addition to the government agencies, the government administration sector also includes certain state foundations and state-owned companies. Government administration does not include entities within the retirement pension system. Instead, they make up the social security funds sector. Municipal administration includes primary municipal authorities, regional authorities (formerly county council authorities), municipal associations and certain municipal foundations and certain municipally or regionally owned companies.
More information: National wealth
The National Wealth, which contains annual data on non-financial and financial assets, is also published in connection with the publication of the Financial Accounts. Financial assets and liabilities are collected from the Financial Accounts and are thus consistent with the values published in the Financial Accounts.
For further information, see:
Next publishing will be
The next statistical news will be published on 2025-09-18 at 08.00.
Feel free to use the facts from this statistical news but remember to state Source: Statistics Sweden.