The Central Bank of Luxembourg published Luxembourg’s international investment position for the fourth quarter of 2025, showing a EUR 361bn increase in the stock of external financial assets from the previous quarter to EUR 13,499bn, alongside a broadly similar rise in external liabilities to EUR 13,474bn. The resulting net international investment position stood at EUR 25bn, with the overall expansion driven by collective investment undertakings (OPC). Direct investment assets increased to EUR 5,124bn, while direct investment liabilities edged down to EUR 3,621bn. Portfolio investment assets in foreign securities rose by EUR 189bn to EUR 6,359bn, mainly reflecting higher financial markets; securities issued by Luxembourg and held by non-residents reached EUR 8,041bn at end-December 2025, up EUR 298bn, including EUR 146bn of transactions and EUR 152bn of price and exchange-rate effects. Other investment assets stood at EUR 1,623bn, and other investment liabilities rose by EUR 50bn to EUR 1,436bn.
Central Bank of Luxembourg 2026-04-02
Central Bank of Luxembourg publishes Q4 2025 international investment position showing net external assets of EUR 25bn
The Central Bank of Luxembourg published Luxembourg’s international investment position for Q4 2025, reporting a EUR 361bn increase in external financial assets to EUR 13,499bn and a similar rise in external liabilities to EUR 13,474bn, resulting in a net position of EUR 25bn. The expansion was driven by collective investment undertakings, with portfolio investment assets in foreign securities rising by EUR 189bn to EUR 6,359bn and securities issued by Luxembourg and held by non-residents increasing by EUR 298bn to EUR 8,041bn.