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|
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.
|Assets||Liabilities||Net Financial Position|
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.