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Rest of the World Sector (S.2)

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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 world.2

The current account deficit for the rest of the world in 2017 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 (€7.9bn in 2017). This same discrepancy is also reported for the total domestic economy (S.1) but with the opposite sign.

Current Account Balance
200712.8282542326512
200811.7138633354932
20097.91553449291318
20101.99914082022856
20112.81061766265585
20125.93338317800001
2013-2.787801703
2014-2.09311995900002
2015-11.555723738
201611.3724208581118
2017-24.924529218

Figure 6.2 shows the net financial position of the rest of the world vis-à-vis Ireland during 2007 to 2017. The sector decreased its net asset position vis-à-vis Ireland by €27.1bn during the year 2017 to €438.4bn representing a 5.8% decrease from the 2016 net position.3

AssetsLiabilitiesNet Financial Position
20072.59826233121892.5363700239243861.8923072945167
20082.710209522552972.53124230981906178.96721273391
20092.877828205578032.68109596677382196.732238804209
20103.072152472803022.88174345291878190.40901988424
20113.18719333557412.94921784607112237.97548950298
20123.3529060669493.112509745899240.396321050001
20133.5653283622793.326298017706239.030344573
20144.4305437553164.110452745891320.091009425
20155.3789500592084.858280416029520.669643179
20165.5600716043545.094500846477465.570757877
20175.6016721982775.163223046862438.449151415

1The trends in the rest of the world accounts have already been commented on in the Quarterly International Investment Position and External Debt release (published September 2018) and the Balance of Payments release (published September 2018).

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 -€438.4bn, where gold is excluded.

Go to the next chapter: Summary Table