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Balance of payments, second half of 2020

Holdings in foreign portfolio assets increased

Statistical news from Statistics Sweden 2021-09-14 9.30

Swedish holdings in foreign portfolio assets increased in the second half of 2020. At the end of 2020, total holdings amounted to SEK 6 609.7 billion, which is just over 10 percent more than at end of June 2020. Holdings in shares and funds increased, while holdings in debt securities decreased.

Portfolio assets consist of foreign shares, investment fund shares, and long-term and short-term debt securities.

Swedish holdings in shares amounted to SEK 3 791.1 billion at the end of 2020, up by 16 percent compared with the end of June 2020. Swedish investors’ largest holdings are in US shares, amounting to SEK 1 758.7 billion at the end of 2020, equivalent to 46 percent of total Swedish holdings abroad. The United Kingdom accounted for the second largest holdings in foreign shares, SEK 270.2 billion, and Japan was in third place at SEK 192.2 billion in holdings.

Swedish holdings in foreign shares, SEK billions

Swedish holdings in foreign shares, SEK billions

Holdings in funds amounted to SEK 1 590 billion at the end of 2020, up by 11 percent compared with the end of June 2020. Luxembourg remains the single largest country for Swedish holdings in foreign investment fund shares, accounting for SEK 937.6 billion at the end of 2020, which is 17 percent more than at the end of June 2020.

Swedish holdings in foreign investment fund shares, SEK billions

Swedish holdings in foreign investment fund shares, SEK billions

Holdings in debt securities decreased

Sweden’s holdings in debt securities abroad amounted to SEK 1 222.6 billion at the end of December 2020. While Sweden’s holdings in foreign shares and funds was higher at the end of 2020 than at the end of June 2020, debt securities decreased by SEK 61.6 billion. At the end of June 2020, shares accounted for 57.4 percent, investment funds accounted for 24.1 percent, and debt securities accounted for 18.5 percent of Sweden’s total holdings. This means that the distribution at the end of 2020 shifted and the proportion of shares and funds is larger than at the end of June 2020.

Sweden’s portfolio assets distribution, SEK billions

Sweden’s portfolio assets distribution, SEK billions

Debt securities issued in US dollars decreased

Holdings in debt securities were dominated by the currencies US dollars, euros, and Swedish kronor. Swedish investors’ holdings in debt securities issued in US dollars amounted to SEK 375.7 billion at the end of December 2020, down by 11 percent compared with the end of June 2020. Swedish holdings in debt securities issued in Swedish kronor amounted to SEK 360.2 billion at the end of December 2020, while holdings issued in euros amounted to SEK 322.5 billion. Holdings issued in euros decreased somewhat between the end of December 2020 and June 2020, while holdings issued in Swedish kronor remained unchanged.

Swedish holdings in foreign debt securities per currency, SEK billions

Swedish holdings in foreign debt securities per currency, SEK billions

New data sources for portfolio investments

As of the publication on the first six months of 2021, the Balance of Payments will transition to new data sources for the compilation of Swedish portfolio investment abroad. This data was previously collected via a questionnaire survey, and now it will now be possible to retrieve the data directly from the database on securities holdings (VINN).

For further information, see: New data sources for statistics on securities (scb.se)

Definitions and explanations

This item of statistical news is based on the Coordinated Portfolio Investment Survey (CPIS), carried out on the initiative of the International Monetary Fund (IMF), and to which numerous countries submit results biannually. CPIS reporting includes holdings in portfolio assets with the rest of the world and forms part of the international investment position in Sweden. Sweden has taken part in this survey since 2001. Assets in the first six months of the year are measured at the end of June, and in the second half of the year, assets are measured at the end of December.

What are portfolio assets?

Trading and holdings in securities are grouped under the concept of portfolio investments, which includes shares, investment funds and debt securities. To be defined as a portfolio investment, the ownership share must be below 10 percent of the votes; if the ownership share is above 10 percent, it is defined as a direct investment.

Statistical Database

More information is available in the Statistical Database

Feel free to use the facts from this statistical news but remember to state Source: Statistics Sweden.

Statistical agency

The Riksbank

Producer

Statistics Sweden, Foreign trade and balance of payments

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