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Net assets abroad increase
Norwegian foreign net assets increased between the 1st quarter of 2016 and the 2nd quarter of 2016 by NOK 165 billion. Net assets ended at NOK 5 964 billion after the 2nd quarter of 2016. Net assets increased again after a downfall last quarter, but are still lower than the peak at the end of 2015.
Opening balance | Transactions | Other changes | Closing balance | |
---|---|---|---|---|
Foreign assets | 12 667 253 | 222 510 | 64 027 | 12 953 790 |
Direct investment | 1 851 334 | 44 512 | -8 931 | 1 886 915 |
Portofolio investment | 8 579 039 | 110 335 | 77 599 | 8 766 973 |
Other investments | 1 714 186 | 73 039 | -9 659 | 1 777 566 |
Reserve assets (IMF breakdown) | 522 694 | -5 376 | 5 018 | 522 336 |
Liabilities | 6 868 306 | 112 565 | 8 945 | 6 989 816 |
Direct investment | 1 757 098 | 26 658 | -2 989 | 1 780 767 |
Portofolio investment | 2 943 031 | -39 262 | 28 751 | 2 932 520 |
Other investments | 2 168 177 | 125 169 | -16 817 | 2 276 529 |
NET ASSETS | 5 798 947 | 109 945 | 55 082 | 5 963 974 |
![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/277334.png?_encoded=2f66666666666678302f35382f&_ts=156fe415248)
In total, Norwegian assets abroad amounted to NOK 12 954 billion at the end of the 2nd quarter of 2016. Foreign liabilities in the same period amounted to NOK 6 990 billion. This gives a net assets balance of NOK 5 964 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 110 billion in the 2nd quarter.
Net other changes amounted to NOK 55 billion in the 2nd quarter. After a rather weak start in the financial markets in the 1st quarter, the markets stabilized more or less in the 2nd quarter. The exchange rate also had minor fluctuations in the 2nd quarter. Overall, the fluctuations from market prices and exchange rates were smaller than usual compared to previous periods.
Increased other investments abroad
At the end of the 2nd quarter of 2016, the Norwegian assets of other investments amounted to NOK 1 778 billion. This was an increase of NOK 64 billion from the 1st quarter, and NOK 128 billion higher than the year end of 2015. Currency and deposits in particular have increased substantially in the period, from NOK 321 billion in the 4th quarter of 2015 to NOK 527 billion in the 2nd quarter of 2016. A large part of this increase stems from short-term investments in currency and deposits from deposit-taking corporations, except the central bank.
The statistics is now published as International accounts.
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