International investment position at the first quarter of 2024

Compared to the last quarter of 2023, Luxembourg’s external financial assets increased by 442 billion euros, reaching 12 110 billion euros at the end of the first quarter of 2024. External financial liabilities increased similarly, reaching 12 084 billion euros for this period. Luxembourg’s international investment position, amounted to 26 billion euros at the end of March 2024, is stabilizing relative to the last quarter of 2023.

The amount outstanding in direct investments assets and liabilities increased similarly and reached respectively 4 795 billion euros and 3 873 billion euros. These increases are essentially related to positive transactions. 

Driven by the rise in financial markets, the amount outstanding in portfolio investments assets reached 5 586 billion euros, i.e. an increase of 278 billion euros, mainly due to positive revaluation and price effects (240 billion euros), the rest being associated to 38 billion euros of investments. Likewise, the amount outstanding in portfolio investments liabilities reached 6 725 billion euros, which represents an increase of 266 billion euros. This increase is mainly due to 259 billion euros of price and change effects and, to a lesser extent, to 7 billion euros of positive transactions. 

Lastly, the amount outstanding in assets regarding other investments reached 1 496 billion euros at the end of March 2024, further to an increase of 21 billion euros. The amount outstanding in liabilities rose vis-à-vis the previous quarter (32 billion euros), reaching 1 288 billion euros at the end of the first quarter of 2024.

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

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