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Statistical Press Release - Securities issues - December 2018

Today, Banco de Portugal publishes statistics, in Table A.25 of the Statistical Bulletin and in BPstat, on issues of debt securities and shares for December 2018. Published data incorporate revisions since January 2017, according to Banco de Portugal’s statistics revision policy.

In 2018 net issues (gross issues minus redemptions) of securities by residents totalled €8.9 billion, remaining positive for the fourth consecutive year.

This amount is accounted for by positive net issues of debt securities (€6.0 billion) and shares (€2.9 billion) (Chart 1).

By institutional sector, net issues by the general government (€8.2 billion) and by non-financial corporations (€1.5 billion) were positive for the fifth and fourth consecutive years respectively. Financial corporations presented negative net issues amounting to €0.8 billion, an opposite trend compared to the previous year (Chart 2).


The outstanding amount of securities issued by residents totalled €452.0 billion (Chart 3), decreasing by €3.5 billion from 2017. By contrast, in the previous year the outstanding amount of securities issued by residents increased by €31.5 billion. 

In 2018 positive net issues were offset by the devaluation of listed shares, thus contributing to the reduction in the outstanding amount of securities issued by non-financial corporations and financial corporations by €4.5 billion and €5.2 billion respectively (Chart 4). 

Next update: 11 Mar. 2019