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/en/utenriksokonomi/statistikker/intinvpos/aar
53578
Net foreign assets increased far more than GDP
statistikk
2011-09-30T10:00:00.000Z
External economy
en
intinvpos, International investment position, abroad, assets, liabilities, net assets, IIP, reserves abroadForeign assets and liabilities , External economy
false

International investment position, 2010

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Net foreign assets increased far more than GDP

Norway’s net foreign assets amounted to 96 per cent of GDP at the end of 2010. In 2009, the corresponding figure was 81 per cent. Net foreign assets increased from NOK 1 885 billion in 2009 to NOK 2 391 billion in 2010.

Norway’s foreign assets and liabilities. End of year

The growth in net foreign assets has increased considerably more than the growth in GDP in the last three years. In a historic perspective, the net foreign assets increased from 9 per cent of GDP at the end of 1998 to 96 per cent at the end of 2010.

Both foreign assets and foreign liabilities increased

Norway’s foreign assets equalled NOK 6 877 billion at the end of 2010. This corresponds to an increase of 14 per cent from 2009. Portfolio investment, direct investment, “other investment” and international reserves all increased in 2010. “Other investment” mainly includes loans, bank deposits and trade credits. Norway’s foreign liabilities were equal to NOK 4 486 billion at the end of 2010, which corresponds to an increase of 8 per cent from 2009. Portfolio investment in 2010 increased the most, by 14 per cent.

About International Investment Position

International investment position (IIP) is the balance sheet of the stock of external financial assets and liabilities. IIP was introduced in the mid 1990s by the International Monetary Fund and is one of several statistics aimed at improving the quality and availability of international economic statistics. The IIP statistics are based on the same principles and definitions as the balance of payments (BoP) financial account. This means that changes in the stock of IIP shall, in principle, be consistent with the transactions, valuation changes and other adjustments in the balance of payments financial account.

Nevertheless, some use of different sources and production processes may entail deviations between the two statistics. IIP is primarily classified by function, i.e. direct investment, portfolio investment, other investment and reserve assets. IIP and BoP use the directional principle for claims/liabilities that are direct investments between groups of companies (international concerns), which means claims/liabilities are netted in the IIP and BoP balance sheet.

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