International investment position at the second quarter of 2026

Luxembourg’s external financial assets increased by 614 billion euros compared to the first quarter of 2026, reaching 14 350 billion euros at the end of the second quarter of 2026. External financial liabilities increased similarly, reaching 14 329 billion euros for this period. Luxembourg’s international investment position amounted to 21 billion euros at the end of June 2026. 

Direct investment assets increased slightly to reach 5 218 billion euros, mainly owing to Investments funds (IF), whereas, driven by Captive Financial Institutions (CFI), liabilities declined to reach 3 683 billion euros in the second quarter of 2026. 

Mainly driven by the rise in financial markets, the outstanding amount in portfolio investments assets increased by 542 billion euros to reach 6 991 billion euros in the second quarter of 2026. Likewise, the outstanding amount in portfolio investments liabilities reached 8 768 billion euros at the end of June 2026, which represents an increase of 523 billion euros. This increase is due to 101 billion euros of transactions and 423 billion euros of price and change effects. In particular, positive 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 1 766 billion euros at the end of June 2026, which corresponds to an increase compared to the previous quarter. The amount outstanding in liabilities on other investments also increased vis-à-vis the previous quarter (70 billion euros), reaching 1 539 billion euros at the end of the second quarter of 2026.

 Table: Luxembourg International Investment Position (in billions of EUR)

 

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