International investment position at the first quarter of 2026

Luxembourg’s external financial assets increased by 51 billion euros compared to the fourth quarter of 2025, reaching 13 801 billion euros at the end of the first quarter of 2026. External financial liabilities increased similarly (44 billion euros), reaching 13 772 billion euros for this period. Luxembourg’s international investment position amounted to 29 billion euros at the end of March 2026. 

Further to withdrawal of capitals, direct investment assets and liabilities decreased to reach respectively 5 207 billion euros and 3 700 billion euros in the first quarter of 2026. 

The outstanding amount in portfolio investments assets decreased by 18 billion euros, mainly due to the decrease in financial markets, and reached 6 442 billion euros at the first quarter of 2026. Likewise, the outstanding amount in portfolio investments liabilities reached 8 191 billion euros at the end of March 2026, which represents a decrease of 14 billion euros. This increase is due to 52 billion euros of transactions and -66 billion euros of price and change effects. In particular, negative developments in foreign equity markets (asset side) are reflected on IF net asset value (liability side). 

Lastly, the outstanding amount in assets on other investments reached 1 730 billion euros at the end of March 2026, which corresponds to an increase compared to the previous quarter. The amount outstanding in liabilities on other investments also slightly increased vis-à-vis the previous quarter (41 billion euros), reaching 1 471 billion euros at the end of the first quarter of 2026. 

Table: Luxembourg International Investment Position

(in billions of EUR)

 

Source : BCL

 

Detailed statistical data is available on the BCL’s website on the following page:

http://www.bcl.lu/en/statistics/series_statistiques_luxembourg/09_iip/index.html

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