Danmarks Nationalbank
Danmarks Nationalbank
09/30/2024 | Press release | Distributed by Public on 09/30/2024 05:09
Significant decrease in the IIP
Statistical News
Denmark's foreign assets
30 September 2024 Statistics period: 2nd quarter 2024
Statistical news focuses on the latest figures and trends in Danmarks Nationalbank's statistics. Statistical news is targeted at people who want quick insight into current financial data.
Significant decrease in the IIP
Then international investment position (IIP) fell by kr. 480 billion to kr. 958 billion in the first half of 2024 and now amounts to 34 per cent of GDP. The IIP is the value of Danish investments abroad (the assets) minus the value of foreign investments in Denmark (the liabilities). The fall in the IIP reflects that the value of liabilities increased more than the value of assets. Liabilities increased primarily due to price increases on Danish shares owned by foreigners, including especially shares in Novo Nordisk. Price increases meant that the value of foreign investors' shares in Novo Nordisk increased by kr. 834 billion in the first half of 2024, which reduced the IIP correspondingly. Assets also increased, especially due to price increases on foreign shares owned by Danish investors. Price and foreign exchange rate changes will typically level out in the long term, with the development of the IIP primarily driven by balance of payments surpluses. That surplus was kr. 158 billion in the first half of the year and is a measure for Denmark's savings abroad.
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Note:
The change in the IIP from price changes on Novo Nordisk shares, other Danish listed shares, and foreign listed shares. The balance of payments is the surplus on the balance of payment current account. "Other" includes changes in the IIP from other price changes, foreign exchange rate changes, and other quantitative changes from revisions etc.Find chart data in the Statbank.