International investment position at the end of June 2022

Compared to the first quarter of 2022, Luxembourg's external financial assets decreased by 195 billion euros, reaching 12 014 billion euros at the end of the second quarter of 2022. External financial liabilities decreased by 187 billion and reached 11 989 billion euros at the end of the second quarter of 2022. Both decreases are explained by negative transactions (disinvestments) and negative valuation effects, the latter resulting from the drop in stock market prices. Luxembourg's net external position, for its part, decreased by 8 billion and reached 25 billion euros at the end of the second quarter of 2022.

In the various components of the net external position, the net asset position in direct investments increased by 45 billion to reach 1 013 billion euros at the end of June 2022. The net asset position in the other investments (deposits and traditional credits, trade credits, other receivables or payables) increased by 8 billion euros and reached 210 billion euros. The structural net liability position in the portfolio investments increased by 52 billion euros and reached 1 232 billion euros at the end of June 2022.

The amount outstanding in direct investments assets reached up 5 151 billion euros at the end of June 2022, having undergone positive revaluation effects (178 billion euros) that were partly offset by negative transactions (disinvestments of 28 billion euros). The amount outstanding in direct investments liabilities reached up 4 138 billion euros at the end of June 2022, which represents an increase of 105 billion euros. The later increase was triggered by positive revaluation effects (124 billion euros) that were partly offset by negative transactions (20 billion euros).

Portfolio investments largely suffered from the negative impact of the fall in stock prices. The amount outstanding in portfolio investments assets reached down 5 024 billion euros at the end of June 2022, after having decreased by 377 billion euros which resulted from negative revaluation effects (317 billion euros), as well as from negative transactions (60 billion euros). The amount outstanding in portfolio investments liabilities reached down 6 256 billion euros at the end of June 2022, after having decreased by 325 billion euros which resulted also from negative revaluation effects (298 billion euros), as well as from negative transactions (26 billion euros).

For other investments, the amount outstanding in assets reached up 1 615 billion euros at the end of June 2022, after having increased by 30 billion euros which resulted almost from positive transactions. The amount outstanding in liabilities increased by 22 billion euros, up to 1 406 billion euros at the end of June 2022.

 

Table: Luxembourg International Investment Position (billion euros)

 

Source: BCL

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

https://www.bcl.lu/en/statistices_statistiques_luxembourg/09_iip/index.htmls/seri

 

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