International investment position at the end of March 2022

Compared to the fourth quarter of 2021, Luxembourg's external financial assets and liabilities decreased by 97 billion euros, reaching respectively 12 176 billion and 12 137 billion euros at the end of the first quarter of 2022. Both decreases are explained by negative transactions (disinvestments of 61 billion euros) and negative valuation effects, the latter resulting from the drop in stock market prices. Luxembourg's net external position, for its part, remained stable at 39 billion euros at the end of the first quarter of 2022. 

In the various components of the net external position, the net asset position in direct investments increased by 58 billion to reach 959 billion euros at the end of March 2022. The net asset position in the other investments (deposits and traditional credits, trade credits, other receivables or payables) increased by 27 billion euros and reached 195 billion euros. The structural net liability position in the portfolio investments increased by 91 billion euros and reached 1 158 billion euros at the end of March 2022. 

The amount outstanding in direct investments assets reached up 4 996 billion euros at the end of March 2022, having undergone positive revaluation effects (165 billion euros) that were partly offset by negative transactions (disinvestments of 12 billion euros). The amount outstanding in direct investments liabilities reached up 4 037 billion euros at the end of March 2022. The later increase was triggered by positive revaluation effects (122 billion euros) that were partly offset by negative transactions (26 billion euros). 

Portfolio investments largely suffered from the negative impact of the fall in stock prices in the first quarter of 2022. The amount outstanding in portfolio investments assets reached down 5 387 billion euros at the end of March 2022, after having decreased by 298 billion euros which resulted from negative revaluation effects (232 billion euros), as well as from negative transactions (66 billion euros). The amount outstanding in portfolio investments liabilities reached down 6 545 billion euros at the end of March 2022, after having decreased by 206 billion euros which resulted also from negative revaluation effects (173 billion euros), as well as from negative transactions (34 billion euros). 

For other investments, the amount outstanding in assets reached up 1 572 billion euros at the end of March 2022, after having increased by 24 billion euros which resulted almost from positive transactions. The amount outstanding in liabilities decreased by 3 billion euros, down to 1 377 billion euros at the end of March 2022. 

Table : Luxembourg International Investment Position (billion euros)

 

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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