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 2018 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 (€5.3bn in 2018). 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 2008 to 2018. The sector increased its net asset position vis-à-vis Ireland by €37.9bn during the year 2018 to €534.0bn representing a 7.6% increase from the 2017 net position.3
|Assets||Liabilities||Net Financial Position|
1The trends in the rest of the world accounts have already been commented on in the International Accounts publication (September 2019).
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 -€534.0bn.