Foreign asset and liabilities, 2001

The increase from 1998 was NOK 396 billion. Net foreign assets equalled 39 per cent of the GDP in 2001.

During 2001 foreign assets and foreign liabilities increased by NOK 183 and NOK 52 billion respectively. A substantial part of this increase may be attributed to the Government Petroleum Fund's foreign bank deposits and investments in foreign bonds and other securities. The value of these investments increased by NOK 178 billion to NOK 602 billion during 2001. NOK 342 billion were placed in foreign bonds. Private limited companies also experienced the value of their foreign shares build up.

Financial intermediation and insurance experienced most of the increase in liabilities and increased total liabilities by NOK 43 billion to NOK 613 billion. The increase in liabilities was especially strong for commercial banks and savings banks. They increased their foreign liabilities by NOK 24 billion to NOK 355 billion.

Total foreign shareholding amounted to NOK 627 billion at market value - an increase of 80 billion since 2000, while the increase was NOK 182 billion from 1999 to 2000. There has been a decline in the value of foreign stock for most industries from 2000 to 2001. The loss may be attributed to the negative development in stock markets around the world. The Government Petroleum Fund recorded the strongest growth in 2001, but private limited companies also experienced an increase in their values.

The USA was the single most important country for Norwegian investments abroad, with stock totalling NOK 135 billion. Other countries in which Norway had major stock interests were the United Kingdom by NOK 109 billion, Sweden by NOK 62 billion and Japan by NOK 37 billion.

Foreigners owned shares in Norwegian companies totalling NOK 83 billion at nominal value in Norway in 2001 - an increase of NOK 6 billion from 2000 and NOK 39 billion from 1997. The most important countries in this respect were Sweden by NOK 18 billion, Denmark by NOK 13 billion and the United Kingdom by NOK 10 billion. Market values have not been estimated.

Tables:

• Table 1 Foreign assets, liabilities and net assets at nominal /market value. 1997-2001. NOK million and per cent of gross domestic product
• Table 2 Foreign assets and liabilities at market value, by sector and industry. 1997-2001. NOK million
• Table 3 Foreign stocks at market value. 1997-2001. NOK million
• Table 4 Norwegian stocks at market value. 1997-2001. NOK million