International investment position at the end of March 2017
Compared to the last quarter of 2016, Luxembourg’s external financial assets increased by 180 billion euros to reach 10 487 billion euros at the end of the first quarter of 2017. External financial liabilities increased by 176 billion euros and reached 10 471 billion euros at the end of the first quarter of 2017. Luxembourg’s net international investment position, which corresponds to the difference between external financial assets and liabilities, thus increased by 4 billion euros and reached 16 billion euros at the end of March 2017. This improvement of the net international investment position is broadly attributed to a positive impact of revaluations.
In the various components of the net external position, the net asset position in direct investments increased by 127 billion to reach 695 billion euros at the end of March 2017. The net asset position in the other investments (deposits and traditional credits, trade credits, other receivables or payables) increased by 28 billion euros and reached 373 billion euros. The structural net liability position in the portfolio investments increased by 148 billion to reach 1 051 billion euros at the end of March 2017.
The amount outstanding in direct investments assets reached up 5 214 billion euros at the end of March 2017, having undergone positive revaluation effects (111 billion euros). The amount outstanding in direct investments liabilities increased by 39 billion euros reaching up 4 519 billion euros at the end of March 2017. The later increase was triggered by negative revaluation effects (17 billion euros) along with negative transactions (22 billion euros).
The amount outstanding in portfolio investments assets reached up 3 694 billion euros at the end of March 2017, after having increased by 40 billion euro which resulted from positive transactions (64 billion euros), partially compensated by negative revaluation effects. The amount outstanding in portfolio investments liabilities reached 4 745 billion euros at the end of March 2017, after having increased by 189 billion euro (half of which resulted from net purchases).
For other investments, the amount outstanding in assets increased by 60 billion euros reaching up 1 376 billion euros at the end of March 2017. This increase resulted from large positive transactions (50 billion euros), as well as positive revaluation (10 billion). The amount outstanding in liabilities increased by 31 billion euros, up to 1 002 billion euros at the end of March 2017. The later increase was explained by positive exchange rate changes along side with positive transactions.
Detailed statistical data is available on the BCL’s website on the following page: