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Extra information
For more information on this release:
E-mail: bop@cso.ie Stephen McDonagh (+353) 1 498 4364 Annette Hayes (+353) 1 498 4319
For general information on CSO statistics:
information@cso.ie (+353) 21 453 5000 Visit StatCentral.ie, the portal to Ireland's official statistics On-line ISSN 2009-5317
CSO statistical release, 27 September 2013, 11am

Quarterly International Investment Position and External Debt

30 June 2013

      € billion
 31 March 201330 June 2013
 AssetsLiabilitiesNETAssetsLiabilitiesNET
       
General Government8.9130.9-122.08.9129.7-120.8
Monetary Authority18.260.1-41.917.857.0-39.2
Monetary Financial Institutions681.6688.3-6.7643.3644.7-1.3
Other Financial Intermediaries1,933.21,855.577.71,918.61,841.976.6
Non-Financial Companies296.2384.9-88.7308.0403.4-95.5
Total 2,938.23,119.7-181.62,896.63,076.7-180.1

Net IIP liability of €180 billion at end-June 2013

Figure 1 Ireland's IIP
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Net IIP liability of €180 billion at end-June 2013

At 30th June 2013, Ireland’s quarterly international investment position (IIP) results show overall stocks of foreign financial assets of €2,896.6bn – a decrease of €41.6bn on the end-March 2013 level, while the corresponding stocks of foreign financial liabilities decreased by €43.0bn to €3,076.7bn over the quarter. Irish residents had an overall net foreign liability of €180.1bn at end-June 2013, a decrease of €1.4bn on the net foreign liability level at end-March 2013 – see Table 1a.

Some points of note in the Quarter 2 2013 quarterly IIP are:

  • General Government foreign liabilities decreased by €1.2bn to €129.7bn in the same period - see Table 1b.
  • Within the commercial financial sector (i.e. MFI and OFI), IFSC enterprises accounted for a very high proportion of the sector’s overall foreign assets and liabilities. At end-June 2013, IFSC assets abroad amounted to €2,371.3bn or 93% of the sector’s foreign assets (and 82% of Ireland’s total foreign assets); IFSC liabilities at €2,368.9bn represented 95% of the commercial financial sector aggregate liability (and 77% of Ireland’s total foreign liabilities). IFSC enterprises showed a net asset position at the end-June 2013 of €2.4bn - see Table 2.
  • The net liabilities of the Monetary Authority decreased by €2.7bn in the quarter – see Table 2.

 

X-axis labelDirect InvestmentOther SectorsMonetary Financial InstitutionsMonetary AuthorityGeneral Government
30 Sep 2012296.175850.506330.284.437122.552
31 Dec 2012292.868844.366299.57679.281123.982
31 Mar 2013304.044882.189298.56960.088130.938
30 Jun 2013296.269877.708277.25357.025129.697

Gross External Debt is €1,638 billion at end-June 2013

At 30th June 2013, the gross external debt of all resident sectors (i.e. general government, the monetary authority, financial and non-financial corporations and households) amounted to €1,638.0bn. This represents a decrease of €37.9bn in the stock of financial liabilities to non-residents (other than those arising from issues of Irish equities and derivatives contracts) compared to the level shown at 31st March 2013 (€1,675.8bn) – see Table 6a. Points of note are:

  • General government foreign borrowing decreased by €1.2bn from €130.9bn at end-March 2013 to €129.7bn at end-June 2013, driven by a decrease of €5.3bn in Bond & Note liabilities and an offsetting increase of €3.8bn in long-term loan liabilities.
  • Liabilities of the Monetary Authority consisting almost entirely of short term loans and deposits amounted to €57.0bn at end-June 2013, a decrease of €3.1bn on the end-March 2013 stock level. These liabilities are to the European System of Central Banks (ESCB) and include balances in the TARGET2 settlement system of the ESCB.
  • Debt liabilities of Monetary financial institutions (credit institutions and money market funds) were €277.3bn at end-June 2013, a decrease of €21.3bn on the end-March 2013 stock level.
  • The liabilities of Other sectors decreased by €4.5bn from the end-March 2013 position and at €877.7bn represented 54% of the total debt at end-June 2013.
  • Direct investment liabilities decreased by€7.8bn to €296.3bn in the quarter.
  • The Net External Debt position was -€682.1bn at end-June 2013 (i.e. assets exceeded liabilities). This reflects the fact that while two thirds of the assets of Investment Funds are included, the bulk of their liabilities (being equity securities) are excluded from Net External Debt.

 Revised results

This release reflects revisions due to new and updated information for 2011 and 2012, taking into account the revised BOP results published on the 27 June 2013.

Table 1(a) International Investment Position (IIP) classified by Financial Instrument 
ItemQ1 2011 1Q2 2011 1Q3 2011 1Q4 2011 1Q1 2012 1Q2 2012 1Q3 2012 1Q4 2012 1Q1 2013 1Q2 2013
Foreign Assets 
  Direct Investment Abroad 2265,081264,197251,807255,670265,659273,903285,944288,026303,295314,903
  Portfolio Investment1,420,3101,363,8431,359,4701,432,2391,538,7841,526,2361,562,7261,588,9821,674,6991,646,434
  Other Investment 3914,609959,6911,021,5411,010,251911,424976,981977,051939,853958,883934,048
  Reserve Assets1,4741,4981,5701,3161,2851,3331,3471,2941,2981,218
  Total Foreign Assets2,601,4742,589,2292,634,3882,699,4762,717,1522,778,4532,827,0682,818,1552,938,1752,896,603
           
Foreign Liabilities          
  Direct Investment in Ireland 2236,138236,633254,460224,511240,453246,371258,822257,513280,027279,693
  Portfolio Investment1,646,4441,645,8441,632,4781,727,8261,784,1351,820,4991,869,9961,905,5211,988,1121,968,509
  Other Investment 3897,458863,149922,537929,525887,069899,169880,679838,696851,588828,547
  Total Foreign Liabilities 2,780,0402,745,6262,809,4752,881,8622,911,6572,966,0393,009,4973,001,7303,119,7273,076,749
        
Net International Investment Position (IIP)       
  Direct Investment 228,94327,564-2,65331,15925,20627,53227,12230,51323,26835,210
  Portfolio Investment-226,134-282,001-273,008-295,587-245,351-294,263-307,270-316,539-313,413-322,075
  Other Investment 317,15196,54299,00480,72624,35577,81296,372101,157107,295105,501
  Reserve Assets1,4741,4981,5701,3161,2851,3331,3471,2941,2981,218
           
  Total (Net IIP)-178,566-156,397-175,087-182,386-194,505-187,586-182,429-183,575-181,552-180,146
1Revised
2Reflecting the so-called directional principle for reclassifying Direct Investment (see background notes).
3Includes financial derivatives and trade credits; in the case of liabilities this category also includes life insurance liabilities to non-residents.
Open in Excel: International Investment Position and External Debt June 2013 Table 1(a) (XLS 33KB)
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Table 1(b) International Investment Position (IIP) classified by Institutional Sector € million
ItemQ1 2011 1Q2 2011 1Q3 2011 1Q4 2011 1Q1 2012 1Q2 2012 1Q3 2012 1Q4 2012 1Q1 2013 1Q2 2013
Foreign Assets
  General Government9,9774,6865,1855,3806,0645,7906,1007,5428,9458,892
  Monetary Authority 217,59217,69219,09219,03719,92917,28017,56917,69518,16217,849
  Monetary Financial Institutions 3875,413848,592891,004799,458747,957769,282761,637707,336681,634643,336
  Other Sectors 41,698,4911,718,2601,719,1061,875,6011,943,2001,986,1002,041,7612,085,5812,229,4362,226,526
    of which:          
      Other Financial Intermediaries1,448,0561,464,2141,477,3631,629,4191,688,2281,721,1331,765,0421,805,2761,933,2151,918,557
      Non-Financial Companies 5250,435254,046241,743246,182254,972264,967276,719280,305296,221307,969
Total Foreign Assets2,601,4742,589,2292,634,3882,699,4762,717,1522,778,4532,827,0682,818,1552,938,1752,896,603
          
Foreign Liabilities          
  General Government95,06498,10899,603103,674108,923114,075122,552123,981130,938129,697
  Monetary Authority 2139,646128,675123,341120,45696,027100,11984,43779,28160,08857,025
  Monetary Financial Institutions 3830,361808,222862,931767,629736,179752,275741,912705,504688,332644,663
  Other Sectors 41,714,9691,710,6201,723,5981,890,1021,970,5281,999,5692,060,5962,092,9632,240,3682,245,365
    of which:          
      Other Financial Intermediaries1,397,0071,387,9631,410,6021,566,8071,625,0191,646,6801,699,9691,728,8101,855,4681,841,940
      Non-Financial Companies 5317,962322,657312,996323,295345,509352,889360,627364,153384,900403,425
Total Foreign Liabilities 2,780,0402,745,6262,809,4752,881,8622,911,6572,966,0393,009,4973,001,7303,119,7273,076,749
          
Net International Investment Position (IIP)          
  General Government-85,087 -93,422 -94,418 -98,294 -102,859 -108,285 -116,452 -116,439 -121,993 -120,805
  Monetary Authority 2-122,054 -110,983 -104,249 -101,419 -76,098 -82,839 -66,868 -61,586 -41,926 -39,176
  Monetary Financial Institutions 345,05240,37028,07331,82911,77817,00719,7251,832-6,698 -1,327
  Other Sectors 4-16,478 7,640-4,492 -14,501 -27,328 -13,469 -18,835 -7,382 -10,932 -18,839
    of which:          
      Other Financial Intermediaries51,04976,25166,76162,61263,20974,45365,07376,46677,74776,617
      Non-Financial Companies 5-67,527 -68,611 -71,253 -77,113 -90,537 -87,922 -83,908 -83,848 -88,679 -95,456
Total (Net IIP)-178,566 -156,397 -175,087 -182,386 -194,505 -187,586 -182,429 -183,575 -181,552 -180,146
1Revised
2Central Bank of Ireland.
3Covering licensed credit institutions and money market funds.
4Other sectors includes financial corporations other than the Monetary Authority and Monetary Financial Institutions, non-financial service and manufacturing companies and other industrial enterprises as well as (implicitly) households (see Background Notes). The gross liabilities to non-residents of financial corporations covered in other sectors tend to be very significant.
5Including households.
Open in Excel: International Investment Position and External Debt June 2013 Table 1(b) (XLS 29KB)
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Table 2 International Investment Position (IIP) - IFSC and non-IFSC activity by Institutional Sector € million
 31 Mar 2013 1  30 Jun 2013
ItemIFSCnon-IFSCTotal IFSCnon-IFSCTotal
Foreign Assets       
  General Government08,9458,945 08,8928,892
  Monetary Authority 2018,16218,162 017,84917,849
  Monetary Financial Institutions 3572,839108,795681,634 540,803102,533643,336
  Other Sectors 41,844,538384,8982,229,436 1,830,487396,0392,226,526
    of which:       
      Other Financial Intermediaries1,844,53888,6771,933,215 1,830,48788,0701,918,557
      Non-Financial Companies 50296,221296,221 0307,969307,969
Total Foreign Assets2,417,377520,8002,938,175 2,371,290525,3132,896,603
       
Foreign Liabilities       
  General Government0130,938130,938 0129,697129,697
  Monetary Authority 2060,08860,088 057,02557,025
  Monetary Financial Institutions 3573,947114,385688,332 533,243111,420644,663
  Other Sectors 41,849,146391,2222,240,368 1,835,663409,7022,245,365
    of which:       
      Other Financial Intermediaries1,849,1466,3221,855,468 1,835,6636,2771,841,940
      Non-Financial Companies 50384,900384,900 0403,425403,425
Total Foreign Liabilities 2,423,093696,6343,119,727 2,368,906707,8433,076,749
       
Net International Investment Position (IIP)       
  General Government0-121,993 -121,993  0-120,805 -120,805
  Monetary Authority 20-41,926 -41,926  0-39,176 -39,176
  Monetary Financial Institutions 3-1,108 -5,590 -6,698  7,560-8,887 -1,327
  Other Sectors 4-4,608 -6,324 -10,932  -5,176 -13,663 -18,839
    of which:       
      Other Financial Intermediaries-4,608 82,35577,747 -5,176 81,79376,617
      Non-Financial Companies 50-88,679 -88,679  0-95,456 -95,456
Total (Net IIP)-5,716 -175,836 -181,552  2,384-182,530 -180,146
1Revised
2Central Bank of Ireland.
3Covering licensed credit institutions and money market funds.
4Other sectors includes financial corporations other than the Monetary Authority and Monetary Financial Institutions, non-financial service and manufacturing companies and other industrial enterprises as well as (implicitly) households (see Background Notes). The gross liabilities to non-residents of financial corporations covered in other sectors tend to be very significant.
5Including households.
Open in Excel: International Investment Position and External Debt June 2013 Table 2 (XLS 30KB)
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Table 3(a) International Investment Position (IIP) - Detailed Data  € million
ItemQ3 2012 1Q4 2012 1Q1 2013 1Q2 2013
Foreign Assets    
  Direct Investment Abroad 2285,944288,026303,295314,903
    Equity capital and reinvested earnings 242,531241,282255,784263,576
    Other capital43,41346,74447,51151,328
     
  Portfolio Investment 1,562,7261,588,9821,674,6991,646,434
    Equity 483,842503,819541,874538,366
        Monetary authority 30000
        General government4,3594,2834,5304,407
        Monetary financial institutions 41,0541,3791,9521,480
        Other sectors478,429498,157535,391532,480
     
    Debt instruments1,078,8841,085,1641,132,8251,108,068
      Bonds and notes765,836802,296831,250814,413
        Monetary authority 311,17312,21713,80814,603
        General government291301334332
        Monetary financial institutions 4180,621188,228174,751167,337
        Other sectors573,751601,551642,357632,141
     
      Money market instruments313,048282,868301,575293,656
        Monetary authority 34,7584,0322,2901,686
        General government0000
        Monetary financial institutions 4195,254173,725177,432163,653
        Other sectors113,036105,110121,853128,317
     
  Other Investment 977,051939,853958,883934,048
    Loans, currency and deposits780,405745,629739,128722,880
        Monetary authority 3176144766342
        General government2,3623,9224,7854,552
        Monetary financial institutions 4324,433290,575280,274269,807
        Other sectors453,434450,988453,303448,179
     
    Trade Credits37,91540,13440,45239,926
        General government0000
        Other sectors37,91540,13440,45239,926
     
    Other assets 5158,730154,089179,302171,241
        Monetary authority 3115800
        General government-912-963-705-399
        Monetary financial institutions 454,97248,49342,46835,733
        Other sectors104,555106,551137,539135,907
     
  Reserve assets1,3471,2941,2981,218
    Monetary gold266244242178
    Special drawing rights771748752742
    Reserve Position in the IMF309301302297
    Foreign Exchange1121
    Other0000
     
Total Foreign Assets2,827,0682,818,1552,938,1752,896,603
1Revised
2Reflecting the so-called directional principle for reclassifying Direct Investment (see background notes).
3Central Bank of Ireland.
4Covering licensed credit institutions and money market funds.
5Includes financial derivatives.    
Open in Excel: International Investment Position and External Debt June 2013 Table 3(a) (XLS 32KB)
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Table 3(b) International Investment Position (IIP) - Detailed Data  € million
ItemQ3 2012 1Q4 2012 1Q1 2013 1Q2 2013
Foreign Liabilities   
  Direct Investment in Ireland 2258,822257,513280,027279,693
    Equity capital and reinvested earnings 253,090257,148275,438274,676
    Other capital5,7323654,5885,018
     
  Portfolio Investment 1,869,9961,905,5211,988,1121,968,509
    Equity 1,298,7131,333,8701,412,6851,406,340
        Monetary authority 30000
        General government0000
        Monetary financial institutions 4295,984286,960282,593265,229
        Other sectors1,002,7291,046,9091,130,0921,141,112
     
    Debt instruments571,282571,651575,428562,169
      Bonds and notes556,765553,044555,017542,024
        Monetary authority 30000
        General government65,29964,46469,47764,147
        Monetary financial institutions 448,38948,37647,87539,801
        Other sectors443,077440,204437,664438,076
     
      Money market instruments14,51718,60720,41120,145
        Monetary authority 30000
        General government2,1842,2652,9333,271
        Monetary financial institutions 44,9889,88611,1249,815
        Other sectors7,3456,4576,3537,058
     
  Other Investment 880,679838,696851,588828,547
    Loans, currency and deposits625,696601,411591,146580,644
        Monetary authority 384,41379,25960,05957,003
        General government55,06957,25358,52862,279
        Monetary financial institutions 4269,730241,437234,231223,573
        Other sectors216,484223,462238,328237,789
     
    Trade Credits17,03316,50016,05114,664
        General government0000
        Other sectors17,03316,50016,05114,664
     
    Other liabilities 5237,949220,786244,391233,239
        Monetary authority 324222922
        General government0000
        Monetary financial institutions 467,15259,24350,76644,348
        Other sectors170,773161,521193,596188,869
     
Total Foreign Liabilities3,009,4973,001,7303,119,7273,076,749
1Revised
2Reflecting the so-called directional principle for reclassifying Direct Investment (see background notes).
3Central Bank of Ireland.
4Covering licensed credit institutions and money market funds.
5Includes financial derivatives and also includes life insurance liabilities to non-residents.
Open in Excel: International Investment Position and External Debt June 2013 Table 3(b) (XLS 31KB)
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Table 4 International Investment Position (IIP) showing IFSC and non–IFSC activity  € million
ItemQ3 2012 1Q4 2012 1Q1 2013 1Q2 2013
Foreign Assets
  Direct Investment Abroad 2285,944288,026303,295314,903
    - IFSC30,25230,95431,74631,693
    - Non-IFSC255,692257,072271,549283,210
  Portfolio Investment1,562,7261,588,9821,674,6991,646,434
    - IFSC1,438,1581,464,0411,547,7961,520,993
    - Non-IFSC124,568124,941126,903125,441
  Other Investment 3977,051939,853958,883934,048
    - IFSC844,838812,986837,835818,604
    - Non-IFSC132,213126,867121,048115,444
  Reserve Assets1,3471,2941,2981,218
    - IFSC0000
    - Non-IFSC1,3471,2941,2981,218
Total Foreign Assets2,827,0682,818,1552,938,1752,896,603
    - IFSC2,313,2482,307,9812,417,3772,371,290
    - Non-IFSC513,820510,174520,800525,313
   
Foreign Liabilities  
  Direct Investment in Ireland 2258,822257,513280,027279,693
    - IFSC106,06999,805108,399109,046
    - Non-IFSC152,753157,708171,628170,647
  Portfolio Investment1,869,9961,905,5211,988,1121,968,509
    - IFSC1,624,4701,657,9511,727,8911,696,062
    - Non-IFSC245,526247,570260,221272,447
  Other Investment 3880,679838,696851,588828,547
    - IFSC581,545553,746586,803563,798
    - Non-IFSC299,134284,950264,785264,749
Total Foreign Liabilities 3,009,4973,001,7303,119,7273,076,749
    - IFSC2,312,0842,311,5022,423,0932,368,906
    - Non-IFSC697,413690,228696,634707,843
   
Net International Investment Position (IIP)  
  Direct Investment 227,12230,51323,26835,210
    - IFSC-75,817-68,851-76,653-77,353
    - Non-IFSC102,93999,36499,921112,563
  Portfolio Investment-307,270-316,539-313,413-322,075
    - IFSC-186,312-193,910-180,095-175,069
    - Non-IFSC-120,958-122,629-133,318-147,006
  Other Investment 396,372101,157107,295105,501
    - IFSC263,293259,240251,032254,806
    - Non-IFSC-166,921-158,083-143,737-149,305
  Reserve Assets1,3471,2941,2981,218
    - IFSC0000
    - Non-IFSC1,3471,2941,2981,218
Total (Net IIP)-182,429-183,575-181,552-180,146
    - IFSC1,164-3,521-5,7162,384
    - Non-IFSC-183,593-180,054-175,836-182,530
1Revised
2Reflecting the so-called directional principle for reclassifying Direct Investment (see background notes).
3Includes financial derivatives and trade credits; in the case of liabilities this category also includes life insurance liabilities to non-residents.
Open in Excel: International Investment Position and External Debt June 2013 Table 4 (XLS 31KB)
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Table 5 - International Investment Position (IIP) - 30 June 2013- Reconciliation of IIP and BOP Flows € million
ItemOpening Position 01/04/13 1 Bop Flows in Quarter Valuation and Other Changes Closing Position 30/06/13
Foreign Assets   
  
  Direct Investment Abroad 2303,295 -702  12,310 314,903
    Equity capital and reinvested earnings 255,784 -5,689  13,481 263,576
    Other capital47,511 4,987 -1,170  51,328
        
  Portfolio Investment 1,674,699 -1,633  -26,632  1,646,434
    Equity 541,874 9,861 -13,369  538,366
    Debt instruments 1,132,825 -11,494  -13,263  1,108,068
      Bonds and notes831,250 -1,419  -15,418  814,413
      Money market instruments301,575 -10,075  2,156 293,656
        
  Other Investment 958,883 -16,492  -8,343  934,048
    Loans, currency and deposits739,128 -18,245  1,997 722,880
    Other 3219,754 1,752 -10,339  211,167
        
  Reserve Assets1,298 1 -81  1,218
        
Total Foreign Assets2,938,175 -18,826  -22,746  2,896,603
        
Foreign Liabilities       
        
  Direct Investment in Ireland 2280,027 5,887 -6,221  279,693
    Equity capital and reinvested earnings 275,438 5,127 -5,889  274,676
    Other capital4,588 760 -330  5,018
        
  Portfolio Investment 1,988,112 -8,697  -10,906  1,968,509
    Equity 1,412,685 5,200 -11,545  1,406,340
    Debt instruments 575,428 -13,897  638 562,169
      Bonds and notes555,017 -13,858  865 542,024
      Money market instruments20,411 -39  -227  20,145
        
  Other Investment 851,588 -16,517  -6,524  828,547
    Loans, currency and deposits591,146 -8,389  -2,113  580,644
    Other 3260,442 -8,128  -4,411  247,903
        
Total Foreign Liabilities3,119,727 -19,327  -23,651  3,076,749
1Revised
2Reflecting the so-called directional principle for reclassifying Direct Investment (see background notes).
3Includes financial derivatives and trade credits; in the case of liabilities this category also includes life insurance liabilities to non-residents.
Open in Excel: International Investment Position and External Debt June 2013 Table 5 (XLS 32KB)
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Table 6(a) - Gross External Debt1€ million
31 Mar 2013 2 30 Jun 2013
ItemIFSC non-IFSC Total IFSC non-IFSC Total
General Government0 130,938 130,938 0 129,697 129,697
  Short-term0 2,933 2,933 0 3,271 3,271
    Money market instruments0 2,933 2,933 0 3,271 3,271
    Loans0 0 0 0 0 0
  Long-term 0 128,005 128,005 0 126,426 126,426
    Bonds and notes0 69,477 69,477 0 64,147 64,147
    Loans0 58,528 58,528 0 62,279 62,279
            
Monetary Authority 30 60,088 60,088 0 57,025 57,025
  Short-term0 60,059 60,059 0 57,003 57,003
    Loans and deposits0 60,059 60,059 0 57,003 57,003
  Long-term 0 29 29 0 22 22
    Other debt liabilities0 29 29 0 22 22
            
Monetary Financial Institutions 4217,532 81,037 298,569 200,320 76,933 277,253
  Short-term* * 199,750 * * 188,924
    Money market instruments* * 11,124 * * 9,816
    Loans and deposits125,549 63,077 188,626 117,202 61,906 179,108
  Long-term * * 98,819 * * 88,329
    Bonds and notes38,533 9,342 47,875 32,944 6,858 39,802
    Loans37,962 7,643 45,605 37,130 7,336 44,466
    Other debt liabilities* * 5,339 * * 4,061
            
Other Sectors 5810,925 71,264 882,189 805,440 72,268 877,708
  Short-term* * 126,758 * * 124,683
    Money market instruments* * 6,353 * * 7,059
    Loans and deposits103,726 627 104,353 102,198 762 102,960
    Trade credits 8,269 7,783 16,052 7,377 7,287 14,664
  Long-term * * 755,431 * * 753,025
    Bonds and notes* * 437,665 * * 438,076
    Loans95,880 38,096 133,976 97,146 37,683 134,829
    Other debt liabilities163,935 19,855 183,790 158,568 21,552 180,120
            
Direct Investment 6167,298 136,746 304,044 165,442 130,827 296,269
    Debt liabilities to affiliated enterprises 0 28,551 28,551 0 24,858 24,858
    Debt liabilities to direct investors167,298 108,195 275,493 165,442 105,969 271,411
            
Gross External Debt1,195,755 480,073 1,675,828 1,171,202 466,750 1,637,952
1Gross external debt represents the stock of Ireland's liabilities to non-residents other than equity and financial derivatives.
2Revised.           
3Central Bank of Ireland.           
4Covering licensed credit institutions and money market funds.        
5Other sectors includes financial corporations other than the Monetary Authority and Monetary Financial Institutions, non-financial service and manufacturing companies and other industrial enterprises as well as (implicitly) households (see Background Notes). The gross liabilities to non-residents of financial corporations covered in other sectors tend to be very significant.
6Covering inter affiliate loans, non-equity securities, trade credits and other debt liabilities. Debt liabilities to affiliated enterprises refers to direct investment abroad while debt liabilities to direct investors refers to direct investment in Ireland.
*Suppressed for confidentiality reasons.
Open in Excel: International Investment Position and External Debt June 2013 Table 6(a) (XLS 32KB)
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Table 6(b) - External Assets in Debt Instruments 1€ million
31 Mar 2013 230 Jun 2013
ItemIFSC non-IFSC Total IFSC non-IFSC Total
General Government0 5,119 5,1190 4,884 4,884
  Short-term0 4,437 4,4370 4,204 4,204
    Money market instruments0 0 00 0 0
    Loans and Deposits0 4,437 4,4370 4,204 4,204
  Long-term 0 682 6820 680 680
    Bonds and notes0 334 3340 332 332
    Loans0 348 3480 348 348
       
Monetary Authority 30 16,864 16,8640 16,631 16,631
  Short-term0 3,056 3,0560 2,028 2,028
    Money market instruments0 2,290 2,2900 1,686 1,686
    Loans and deposits0 766 7660 342 342
  Long-term 0 13,808 13,8080 14,603 14,603
    Bonds and notes0 13,808 13,8080 14,603 14,603
       
Monetary Financial Institutions 4539,205 95,949 635,154514,015 89,355 603,370
  Short-term* * 428,146**407,724
    Money market instruments* * 177,432**163,653
    Loans and deposits187,189 63,525 250,714186,74857,323244,071
  Long-term * * 207,008**195,646
    Bonds and notes153,816 20,935 174,751146,34320,994167,337
    Loans18,740 10,819 29,55915,37010,36625,736
    Other debt Assets* * 2,698**2,573
     
Other Sectors 51,295,708 67,633 1,363,3411,284,16568,3941,352,559
  Short-term290,494 29,835 320,329292,34031,108323,448
    Money market instruments120,063 1,789 121,852126,8151,502128,317
    Loans and deposits147,264 10,761 158,025144,31710,889155,206
    Trade credit assets 23,167 17,285 40,45221,20818,71739,925
  Long-term 1,005,214 37,798 1,043,012991,82537,2861,029,111
    Bonds and notes609,804 32,553 642,357599,66532,476632,141
    Loans294,537 741 295,278292,233740292,973
    Other debt Assets100,873 4,504 105,37799,9274,070103,997
         
Direct Investment 6187,255 159,713 346,968184,344158,234342,578
    Debt asset claims on affiliated enterprises0 76,063 76,0630 76,18676,186
    Debt asset claims on direct investors187,255 83,650 270,905184,344 82,048266,392
          
Reserve Assets0 2 2 0 1 1
          
External Assets in Debt Instruments2,022,168345,2802,367,4481,982,524337,499 2,320,023
        
Net External Debt 7-826,413  134,793 -691,620  -811,322  129,251 -682,071
1External Assets in Debt Instruments represents the stock of Ireland's claims on non-residents other than equity and financial derivatives.
2Revised.           
3Central Bank of Ireland.           
4Covering licensed credit institutions and money market funds.       
5Other sectors includes financial corporations other than the Monetary Authority and Monetary Financial Institutions, non-financial service and manufacturing companies and other industrial enterprises as well as (implicitly) households (see Background Notes). The gross claims on non-residents of financial corporations covered in other sectors tend to be very significant.
6Covering inter affiliate loans, non-equity securities, trade credits and other debt assets. Debt claims on affiliated enterprises refers to direct investment abroad while debt claims on direct investors refers to direct investment in Ireland.
7Net External Debt equals Gross External Debt (from table 6a) minus External Assets in Debt Instruments. A negative sign indicates a net Asset position.
*Data suppressed for confidentiality reasons.
Open in Excel: International Investment Position and External Debt June 2013 Table 6(b) (XLS 41KB)
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Background Notes

Definition

The international investment position (or IIP) is a point in time statistical statement of: the value and composition of the stock of an economy’s foreign financial assets, or the economy’s claims on the rest of the world, and the value and composition of the stock of an economy’s financial liabilities (or obligations) to the rest of the world.

The IMF External Debt Manual defines external debt to be a point in time statistical statement of the value and composition of the stock of an economy’s gross foreign financial liabilities to the rest of the world. The liabilities referred to cover those arising from Irish residents issuing debt securities such as bonds, notes and money market instruments to non-residents, as well as any loans received from and outstanding to non-residents, and any trade payables due to non-residents. In essence, external debt refers to financial obligations to non-residents other than those arising from transactions in equity or financial derivative contracts.

For more detailed methodological information see the Quarterly International Investment Position and External Debt - Background Notes at the following link: Quarterly International Investment Position and External Debt - Background Notes (PDF 298KB)

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