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282550
Increased net assets abroad at year end
statistikk
2017-03-01T08:00:00.000Z
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, Q4 2016

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Increased net assets abroad at year end

Norwegian foreign net assets increased between the 3rd quarter of 2016 and the 4th quarter of 2016 by NOK 380 billion. Net assets ended at NOK 6 315 billion after the 4th quarter of 2016. After a small decrease in net assets in the 3rd quarter, they increased again in the year’s last quarter.

International investment position. Latest quarter. NOK millionPublished 1 March 2017
Opening balanceTransactionsOther changesClosing balance
Foreign assets12 863 773-150 737464 93113 177 967
Direct investment1 933 226-87 1313 0131 849 108
Portofolio investment8 683 12320 040424 9029 128 065
Other investments1 740 714-70 6139 6731 679 774
Reserve assets (IMF breakdown)506 710-13 03327 343521 020
 
Liabilities6 928 499-186 407121 3516 863 443
Direct investment1 799 734-189 38236 4991 646 851
Portofolio investment2 925 15516 56769 7663 011 488
Other investments2 203 610-13 59215 0862 205 104
 
NET ASSETS5 935 27435 670343 5806 314 524

Source: Statistics Norway

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

In total, Norwegian assets abroad amounted to NOK 13 178 billion at the end of the 4th quarter of 2016. The foreign liabilities in the same period amounted to NOK 6 863 billion. This gives a net assets balance of NOK 6 315 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 36 billion in the 4th quarter. 

Net other changes amounted to NOK 344 billion in the 4th quarter. The Norwegian krone depreciated this quarter against most foreign currencies in contrast to the appreciation of the preceding quarter. Net other changes were therefore affected positively by the exchange rate. The financial markets ended the year altogether in a positive way. So both exchange rates and market prices influenced net other changes positively this quarter. In total, net other changes contributed largely to the increase in the net assets in the 4th quarter. 

Higher portfolio investment abroad

At the end of the 4th quarter of 2016, the Norwegian assets of portfolio investments amounted to NOK 9 128 billion. This was an increase of NOK 445 billion from the 3rd quarter, and NOK 61 billion higher than the year end of 2015. The increase in 2016 can be divided into NOK 93 billion in financial transactions and minus NOK 32 billion in other changes. 

Distributed between instruments, it is equity securities that have the highest financial transactions, with NOK 92 billion in 2016. Investment fund shares and debt securities experienced smaller financial transactions during the last year. Other changes have affected debt securities the most in 2016. More precisely, the stock of debt securities has decreased by NOK 90 billion the last year because of other changes. By comparison, equity securities and investment fund shares are affected positively by other changes in the same period with NOK 48 and 9 billion respectively.

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This publication includes revisions dating back to the 1st quarter of 2015.