Saturday , May 28 2022
Home / SNB & CHF / Swiss balance of payments and international investment position: Q3 2021

Swiss balance of payments and international investment position: Q3 2021

Summary:
In the third quarter of 2021, the current account surplus amounted to CHF 24 billion, CHF 10 billion more than in the same quarter of 2020. The increase was mainly attributable to the significantly higher receipts surplus in goods trade. This surplus was due to traditional goods trade (foreign trade total 1), non-monetary gold trading, as well as to merchanting. Primary income counteracted the rise in the current account balance. While a receipts surplus was recorded in the same quarter of 2020, primary income showed a high expenses surplus in the current quarter. This was largely due to developments in investment income from direct investments. The expenses surplus on primary income was, however, relatively low when compared with recent quarters. Current

Topics:
Swiss National Bank considers the following as important: , , ,

This could be interesting, too:

Silvan Amberg writes Vernehmlassungsantwort: Teilrevision der Geldwäschereiverordnung

Daniel Martin writes Noninterventionism Is Not Isolationism: The US Government Should Stop Arming Ukraine

Jeffrey P. Snider writes Crude Contradictions Therefore Uncertainty And Big Volatility

Swiss Statistics writes Switzerland grew more cereals in 2021

In the third quarter of 2021, the current account surplus amounted to CHF 24 billion, CHF 10 billion more than in the same quarter of 2020. The increase was mainly attributable to the significantly higher receipts surplus in goods trade. This surplus was due to traditional goods trade (foreign trade total 1), non-monetary gold trading, as well as to merchanting. Primary income counteracted the rise in the current account balance. While a receipts surplus was recorded in the same quarter of 2020, primary income showed a high expenses surplus in the current quarter. This was largely due to developments in investment income from direct investments. The expenses surplus on primary income was, however, relatively low when compared with recent quarters.

Current Account Q3 2019-Q3 2021

(see more posts on Switzerland Current Account, Switzerland Financial Account, )
Swiss balance of payments and international investment position: Q3 2021

Source: snb.ch - Click to enlarge

In the financial account, reported transactions for the third quarter of 2021 showed a net acquisition of financial assets (CHF 40 billion) and a net incurrence of liabilities (CHF 17 billion). All components contributed to the net acquisition on the assets side – in particular other investment because resident banks increased their claims against non-resident banks (interbank business). Other investment accounted for the largest share of the net incurrence on the liabilities side too. Including derivatives, the financial account showed a balance of CHF 22 billion.

The net international investment position increased by CHF 27 billion quarter-on-quarter to CHF 847 billion in the third quarter of 2021, with the stocks of assets increasing more strongly than the stocks of liabilities. Assets rose by CHF 77 billion to CHF 5,659 billion and liabilities were CHF 50 billion higher at CHF 4,813 billion. On both the assets and liabilities sides, the increase was largely due to the transactions reported in the financial account. Price and exchange rate effects played only a minor role.

Net international investment position, Q3 2019-Q3 2021

Swiss balance of payments and international investment position: Q3 2021

Source: snb.ch - Click to enlarge

Data revisions

The data on the balance of payments and international investment position take into account revisions, some of which go back to 2008. These revisions have arisen as a result of newly available information from the reporting institutions. Direct investment and derivatives were primarily affected.

Backcasting financial account and international investment position data to 1985

The financial account and international investment position data have been backcast and are now available from the first quarter of 1985 (previously Q1 2000). More detailed information regarding the backcasting is available under Changes and revisions on the SNB’s data portal.

.Download PDF


Tags: ,
Swiss National Bank
The Swiss National Bank conducts the country’s monetary policy as an independent central bank. It is obliged by the Constitution and by statute to act in accordance with the interests of the country as a whole. Its primary goal is to ensure price stability, while taking due account of economic developments. In so doing, it creates an appropriate environment for economic growth.

Leave a Reply

Your email address will not be published. Required fields are marked *