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Statistics about

Portfolio investment abroad

The statistics provide an overview of Norway’s holdings of portfolio investment assets abroad and show sectoral and geographical breakdown of Equity and investment fund shares, as well as Debt securities, where the ownership share is less than 20 per cent.

Updated: 26 June 2024
Next update: 23 June 2025

Selected figures from this statistics

  • Norway's Portfolio Investment abroad, by type of sector and financial instrument per 31 December. NOK billion
    Norway's Portfolio Investment abroad, by type of sector and financial instrument per 31 December. NOK billion
    2020202120222023
    Portfolio investment, total1 13 40415 40515 57019 236
    Sector
    Central Government10 90012 37212 50815 716
    Banks323333400476
    Insurance and pension funds8489979781 095
    Unit trusts7569518741 084
    Other financial corporations256279288300
    Non-financial corporations, households etc.321474521564
    Object
    Equities, for all sectors9 32810 65910 23713 103
    Debt securities, for all sectors4 0764 7475 3336 132
    1Portfolio Investments in total and sum of sector and object may deviate due to rounding.
    Explanation of symbols
  • Norway's Portfolio Investment abroad, by financial instrument and selected countries. End of year (NOK billion)
    Norway's Portfolio Investment abroad, by financial instrument and selected countries. End of year (NOK billion)
    20222023
    EquitesDebt securitiesEquitesDebt securities
    United States4 0871 5645 7132 043
    Japan666480831383
    United Kingdom631258718333
    Germany351375426419
    France443278498309
    Sweden302285404325
    Switzerland4254051458
    Canada206223245289
    Netherlands242140309178
    Cayman Islands22452363
    Explanation of symbols

About the statistics

The information under «About the statistics» was last updated 12 April 2024.

Portfolio investment

Financial investment where the investors have no intention to establish a long-term financial link. In practice, an investment is classed as portfolio investment when the ownership interest is less than 20 per cent.

Financial instruments

A financial instrument is a document representing a financial value or a monetary claim. The statistics cover financial instruments such as equity shares, investment fund shares, long-term and short-term debt securities. Financial derivatives are not covered in the statistics.

Market value

The market value represents the price at which a financial instrument is traded in a market, agreed upon by the parties involved.

The classification of financial instruments and sector breakdown is described in the manuals System of National Accounts 2008 (SNA2008) (un.org - PDF) and European System of Accounts 2010 (ESA2010) (europa.eu - PDF).

The classification of portfolio investments in Norway adheres to the guidelines outlined in the International Monetary Fund's (IMF's) Balance of Payments Manual, sixth edition (BPM6) (imf.org - PDF) and IMF's CPIS Guide (Coordinated Portfolio Investment Survey) (elibrary.imf.org - PDF). In Norway, portfolio investments are defined as holdings in financial instruments where ownership shares are below 20 percent, in accordance with the Norwegian Accounting Act § 1-4 (lovdata.no). This differs from the international standard, where ownership shares below 10 percent are classified as portfolio investments.

The country code classification follows the international standard ISO-3166 (ssb.no).

Sectoral breakdowns follow the Classification of Institutional sector Classification of Institutional sector - Statistics Norway (ssb.no).

The Norwegian economy is split into sectors on the basis of groups of homogeneous institutional units. An entity must possess decision-making authority and be capable of producing a complete set of accounts to be classified within a specific sector. Typically, these entities are either legal entities or individuals.

The statistics on Portfolio investments abroad are published for the following sectors: Central Government, Banks, Insurance and pension funds, Unit trusts, Other financial corporations and Non-financial corporations, households etc. Moreover, the statistics are published on the following objects: Equity and investment fund shares, and Debt securities.

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