Table 5.1 International Investment Position | € billion | |||||
31 December 2019 | 31 March 2020 | |||||
Assets | Liabilities | NET | Assets | Liabilities | NET | |
General Government | 22.2 | 147.1 | -124.9 | 21.8 | 155.5 | -133.6 |
Monetary Authority | 66.3 | 19.9 | 46.5 | 66.3 | 20.0 | 46.3 |
Monetary Financial Institutions | 941.2 | 879.8 | 61.5 | 993.1 | 917.5 | 75.6 |
Other Financial Intermediaries | 3,823.5 | 3,805.3 | 18.2 | 3,616.5 | 3,599.8 | 16.7 |
Non-Financial Companies | 942.5 | 1,540.2 | -597.6 | 916.7 | 1,534.0 | -617.3 |
Total | 5,795.8 | 6,392.3 | -596.4 | 5,614.4 | 6,226.7 | -612.3 |
At 31st March 2020, Ireland's quarterly international investment position (IIP) results show overall stocks of foreign financial assets of €5,614bn - a decrease of €181bn on the end-December 2019 level, while the corresponding stocks of foreign financial liabilities decreased by €166bn to €6,227bn over the quarter. Irish residents had an overall net foreign liability of €612bn at end-March 2020, an increase of €16bn in the net foreign liability level at end-December 2019 - see Table 5.2.
X-axis label | Net IIP %GDP |
---|---|
Q22018 | -159 |
Q32018 | -148 |
Q42018 | -165 |
Q12019 | -162 |
Q22019 | -166 |
Q32019 | -168 |
Q42019 | -172 |
Q12020 | -174 |
Some points of note in Quarter 1 2020 IIP are:
X-axis label | Direct Investment | Portfolio Investment | Other Investment | Reserve Assets | Net IIP |
---|---|---|---|---|---|
Q22018 | -34.2 | -466.1 | -3.4 | 3.8 | -500 |
Q32018 | 39.1 | -505.1 | -13.4 | 3.9 | -475.5 |
Q42018 | -50.2 | -401.4 | -86.9 | 4.6 | -534 |
Q12019 | -47.8 | -418.7 | -70 | 4.7 | -531.9 |
Q22019 | -46.4 | -458.3 | -54.7 | 4.8 | -554.7 |
Q32019 | -46.3 | -454 | -78.5 | 5 | -573.7 |
Q42019 | -31.3 | -500.8 | -69.5 | 5.1 | -596.4 |
Q12020 | -92 | -578.7 | 53 | 5.3 | -612.3 |
Figure 5.2 shows the net IIP over time along with the contribution of each instrument type to it.
X-axis label | General Government | Monetary Financial Institutions | Other Financial Intermediaries | Non-Financial Companies |
---|---|---|---|---|
30 Jun 2019 | 721 | 510 | 1018 | 736 |
30 Sep 2019 | 844 | 548 | 1080 | 815 |
31 Dec 2019 | 861 | 539 | 1165 | 828 |
31 Mar 2020 | 830 | 437 | 993 | 759 |
For Portfolio Investment assets, equity and debt securities, the sector of the non-resident issuer is collected. Analysing this data shows that Irish residents hold debt as follows:
X-axis label | Direct Investment | Other Sectors | Monetary Financial Institutions | Monetary Authority | General Government |
---|---|---|---|---|---|
Q22019 | 618 | 1338 | 259 | 19 | 153 |
Q32019 | 637 | 1467 | 263 | 19 | 151 |
Q42019 | 623 | 1487 | 262 | 20 | 147 |
Q12020 | 614 | 1567 | 289 | 20 | 155 |
Gross External Debt stands at €2.6 trillion at end-March 2020
At 31st March 2020, the gross external debt of all resident sectors (i.e. general government, the monetary authority, financial and non-financial corporations and households) amounted to €2,646bn.
This represents an increase of €107bn 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 December 2019 (€2,539bn) - see Table 5.9.
Points of note are:
Gross external debt represents the stock of Ireland's liabilities to non-residents other than equity and financial derivatives.
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