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Rest of the World Sector (S.2)

Domestic economy strengthened in 2021

Online ISSN: 2009-5597
CSO statistical publication, , 11am

Balance on Current Account

The balance on the current account for the Rest of the World sector1 is shown in Figure 6.1. In the sector accounts this account is presented from the point of view of the rest of the world2.

The current account deficit for the rest of the world in 2021 should be matched, in accounting terms, by a financial account surplus. However, the errors and omissions term in the statistics for the rest of the world sector arises because of discrepancies between the financial and current accounts. This is reported in the summary tables as the difference between B.9 and B.9F (€3.5bn in 2021). This same discrepancy is also reported for the total domestic economy (S.1) but with the opposite sign.

Current Account Balance
20112.516
20125.639
2013-3.019
2014-2.316
2015-11.778
201611.19
2017-1.641
2018-16.163
201970.625
202025.511
2021-60.659

Net Financial Asset Position of the Rest of the World 2011-2021

Figure 6.2 shows the net financial position of the rest of the world vis-à-vis Ireland during 2011 to 2021. The sector decreased its net asset position vis-à-vis Ireland by €39.6bn during the year 2021 to €620.2bn representing a 6.0% decrease from the 2020 net position3.

AssetsLiabilitiesNet Financial Position
20113.18719293557412.94998484607112237.208089502979
20123.3495030669493.109009745899240.493321050001
20133.5621673622793.323137017706239.030344573
20144.4285657553164.108474745891320.091009425
20155.3789500592084.858280416029520.669643179
20165.5600714043545.094500746477465.570657876999
20175.7699054833785.273830881228496.074602149999
20186.1041237681515.505370435853598.753332298
20197.1192893374996.432609131732686.680205767
20207.4329863453656.773168570221659.817775144
20218.7381023129688.117934451161620.167861807001

 

1The trends in the rest of the world accounts have already been commented on in the International Accounts publication.

2A current account deficit in the rest of the world account is the equivalent of a current account surplus in the balance of payments presentation.

3This corresponds to a net international investment position with the rest of the world of -€620.2bn.