The balance on the current account for the Rest of the World sector1 is shown in Figure 16. 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 2013 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 (€3.4bn 2013). This same discrepancy is also reported for S.1 (i.e. the total domestic economy) but with the opposite sign.
| Current Account Balance | |
| 2003 | -0.853580612999984 |
| 2004 | 0.244790384000014 |
| 2005 | 5.04660746399996 |
| 2006 | 6.85889899999998 |
| 2007 | 10.856288388 |
| 2008 | 10.688242507 |
| 2009 | 5.131316057 |
| 2010 | -0.947607857000003 |
| 2011 | -1.37778182339401 |
| 2012 | -2.698547138 |
| 2013 | -7.6363945049645 |
| Assets | Liabilities | Net Financial Position | |
| 2003 | 1247.64497852383 | 1215.87438700891 | 31.7705915149166 |
| 2004 | 1555.40725070725 | 1523.3807587036 | 32.0264920036464 |
| 2005 | 2053.96122463215 | 2006.95196472604 | 47.0092599061076 |
| 2006 | 2297.38624691234 | 2278.45516017171 | 18.9310867406265 |
| 2007 | 2598.7213312189 | 2549.15002392438 | 49.5713072945164 |
| 2008 | 2709.63352255297 | 2558.86230981906 | 150.77121273391 |
| 2009 | 2869.08620557803 | 2705.22896677382 | 163.85723880421 |
| 2010 | 3059.47447280302 | 2905.21245291878 | 154.262019884239 |
| 2011 | 3174.0123355741 | 2975.95384607112 | 198.05848950298 |
| 2012 | 3353.860344596 | 3164.955332363 | 188.905012233001 |
| 2013 | 3506.474678226 | 3328.618217877 | 177.856460349 |
Figure 17 shows the net financial position of the rest of the world vis-á-vis Ireland. The sector decreased its net asset position vis-á-vis Ireland with the 2013 level of €177.9bn representing a 5.8 per cent reduction from the 2012 net position3.
1The trends in the rest of the world accounts have already been commented on in the Quarterly International Investment Position and External Debt release (March 2015) and the Balance of Payments release (March 2015)
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 -€177.9bn, when Gold is excluded.
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