241404_not-searchable
/en/utenriksokonomi/statistikker/forutland/kvartal
241404
Decreased net assets abroad
statistikk
2016-06-01T10:00:00.000Z
External economy
en
forutland, Foreign assets and liabilities, net assets, IIP, international investment position, foreign debt, foreign assets, BoP, balance of paymentsForeign assets and liabilities , External economy
false
Norwegian foreign assets and liabilities.

Foreign assets and liabilities, Q1 2016

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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.

International investment position. Latest quarter. NOK millionPublished 1 June 2016
Opening balanceTransactionsOther changesClosing balance
Foreign assets12 994 059203 162-554 12012 643 101
Direct investment1 771 54370 799-24 9851 817 357
Portofolio investment9 066 897-24 071-449 3778 593 449
Other investments1 647 094114 824-52 3171 709 601
Reserve assets (IMF breakdown)508 52541 610-27 441522 694
 
Liabilities6 785 470189 424-177 9556 796 939
Direct investment1 693 20151 074-23 1851 721 090
Portofolio investment2 952 05058 336-103 0722 907 314
Other investments2 140 21980 014-51 6982 168 535
 
NET ASSETS6 208 58913 738-376 1655 846 162

Source: Statistics Norway

Figure 1. Development in Norway's foreign assets and liabilities

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.