At the end of the quarter, the net international investment position was positive by 2,034 b.kr., or 43.3% of GDP, and deteriorated by 77 b.kr., or 1.6% of GDP, during the quarter. External assets totalled 6,771 b.kr. at the end of the quarter, and external liabili-ties were 4,737 b.kr. The position improved by 21 b.kr. during the quarter, owing to financing activities. Foreign assets increased by 126 b.kr. and foreign liabilities by 105 b.kr. Price and exchange rate movements during the quarter lowered asset values by 126 b.kr. and lowered the value of liabilities by 105 b.kr., thereby yielding a deterioration of 21 b.kr. in the net external position. The króna appreciated during the quarter by just under 1.3% in terms of the trade-weighted index. Prices in foreign securities markets fell by 2.1% between quarters, and prices in the domestic stock market fell by 6.2%.
Revision of statistics
The Central Bank has revised its quarterly statistics on the balance of payments and the net IIP back to 1995. A benchmark revision is carried out every five years, most recently in 2020.
The external position of the economy has been revised back to 1995. For the period 2014-2024, the revision ranges from 0.4% to 3.2% of GDP, and for 2008 it equals 1.4% of GDP. For other years, the revision is less than 0.2% of GDP.
The revision for 2022-2024 stems primarily from direct investment and portfolio in-vestment. There was a sizeable increase due to the revaluation of foreign personal pen-sion savings in 2013-2024, totalling 0.4-1.7% of GDP. In addition, the external position has changed by 1% of GDP, owing to the revaluation of deposit institutions’ deposits with foreign banks.
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