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This is an archived release.
Decreased net assets abroad
Norwegian foreign net assets decreased between the 4th quarter of 2015 and the 1st quarter of 2016 by NOK 362 billion. Net assets ended at NOK 5 846 billion after the 1st quarter of 2016. The reduction saw net assets fall to a similar level as the first three quarters in 2015, which followed an increase in the previous quarter.
Opening balance | Transactions | Other changes | Closing balance | |
---|---|---|---|---|
Foreign assets | 12 994 059 | 203 162 | -554 120 | 12 643 101 |
Direct investment | 1 771 543 | 70 799 | -24 985 | 1 817 357 |
Portofolio investment | 9 066 897 | -24 071 | -449 377 | 8 593 449 |
Other investments | 1 647 094 | 114 824 | -52 317 | 1 709 601 |
Reserve assets (IMF breakdown) | 508 525 | 41 610 | -27 441 | 522 694 |
Liabilities | 6 785 470 | 189 424 | -177 955 | 6 796 939 |
Direct investment | 1 693 201 | 51 074 | -23 185 | 1 721 090 |
Portofolio investment | 2 952 050 | 58 336 | -103 072 | 2 907 314 |
Other investments | 2 140 219 | 80 014 | -51 698 | 2 168 535 |
NET ASSETS | 6 208 589 | 13 738 | -376 165 | 5 846 162 |
![Figure 1. Development in Norway's foreign assets and liabilities Figure 1. Development in Norway's foreign assets and liabilities](/en/utenriksokonomi/statistikker/forutland/kvartal/_image/267839.png?_encoded=2f66666666666678302f35382f&_ts=155059e9980)
In total, Norwegian assets abroad amounted to NOK 12 643 billion at the end of the 1st quarter of 2016. Foreign liabilities in the same period amounted to NOK 6 797 billion. This gives a net assets balance of NOK 5 846 billion. Changes in assets and liabilities positions are split into transactions and other changes. The transactions are published in the balance of payments. Net lending was NOK 14 billion in the 1st quarter.
Exchange rate had large effect on Norwegian foreign assets
Net other changes amounted to minus NOK 376 billion in the 1st quarter. A rather weak start in the stock markets at the beginning of the year contributed to a reduction of both assets and liabilities. A positive exchange rate change had a large negative effect on Norwegian assets abroad, as opposed to the liability side, where the effect was minor. A possible explanation is that stocks on the liability side more seldom are nominated in foreign currency, and therefore less influenced by exchange rate movements.
Reduced stock of portfolio investments
At the end of the 1st quarter of 2016, the Norwegian assets of portfolio investment amounted to NOK 8 593 billion, almost 68 per cent of the total assets. This was a decrease of minus NOK 473 billion from the 4th quarter of 2015. Thus, total stock of portfolio investment is back at the same level as it was after the 3rd quarter of 2015.
The statistics is now published as International accounts.
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