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For more information on this release:
E-mail: bop@cso.ie John Flanagan (+353) 1 498 4054 Annette Hayes (+353) 1 498 4319
For general information on CSO statistics:
information@cso.ie (+353) 21 453 5000 On-line ISSN 2009-5317
CSO statistical release, , 11am

Quarterly International Investment Position and External Debt

Quarter 2 2018

      € billion
 31 Mar 201830 Jun 2018
 AssetsLiabilitiesNETAssetsLiabilitiesNET
General Government10.7139.0-128.315.1145.9-130.8
Monetary Authority41.417.523.948.117.630.5
Monetary Financial Institutions734.6697.237.3745.8707.938.0
Other Financial Intermediaries3,163.23,082.181.03,301.43,217.783.7
Non-Financial Companies689.21,137.2-448.0747.21,204.5-457.4
Total 4,639.05,073.1-434.14,857.65,293.7-436.1

Net IIP liability of €436 billion at end-June 2018

International Investment Position and External Debt June 2018 Figure 1
go to full release

At 30th June 2018, Ireland's quarterly international investment position (IIP) results show overall stocks of foreign financial assets of €4,858bn - an increase of €219bn on the end-March 2018 level, while the corresponding stocks of foreign financial liabilities increased by €221bn to €5,294bn over the quarter. Irish residents had an overall net foreign liability of €436bn at end-June 2018, an increase of €2bn in the net foreign liability level at end-March 2018 - see Table 1(a).

Some points of note in Quarter 2 2018 IIP are:

  • Direct Investment Abroad increased by €76bn to €778bn. Equity capital (including reinvested earnings) increased €53bn while other capital increased €23bn – see Table 3(a).  
  • Foreign Assets of Other Financial Intermediaries increased by €138bn. With foreign liabilities increasing by €136bn, the resulting net increased to €84bn - see Table (1b).
  • Foreign Assets of the Monetary Authority increased by €6.7bn while foreign liabilities increased by €0.2bn. The resulting net increased to €30bn - see Table (1b). 
X-axis labelDirect InvestmentPortfolio InvestmentOther InvestmentReserve AssetsNet IIP
Q3 201632.9-497.5-8.43.1-469.8
Q4 201615.1-466.7-17.33.4-465.6
Q1 201730.6-440.5-62.23.3-468.9
Q2 2017 43-497.2-22.83.4-473.6
Q3 2017 21.1-440.2-45.13.6-460.6
Q4 2017-27.3-426.511.63.7-438.4
Q1 2018-19.5-402.7-15.63.7-434.1
Q2 20184.2-439.9-4.23.8-436.1

Figure 2 shows the net IIP over time along with the contribution of each functional category to it.

  • Net Portfolio Investment fell €37bn to -€440bn. 
  • Net Other Investment rose €11bn to -€4bn. 
  • Reserve Assets grew €0.1bn to €3.8bn.
X-axis labelGeneral GovernmentMonetary Financial InstitutionsOther Financial IntermediariesNon-Financial Companies
30 Sep 2017644468643852
31 Dec 2017670476659893
31 Mar 2018683486681877
30 Jun 2018686470709938

For Portfolio Investment assets, equity and debt securities, the sector of the non-resident issuer is collected. Analysing this data shows that Irish residents hold debt as follows:

  • €686bn issued by foreign Governments 
  • €470bn issued by foreign Monetary Financial Institutions (including Money Market Investment Funds) 
  • €709bn issued by foreign Other Financial Intermediaries (including Non-Money Market Investment Funds) 
  • €938bn issued by foreign Non-Financial Companies
X-axis labelDirect InvestmentOther SectorsMonetary Financial InstitutionsMonetary AuthorityGeneral Government
Q32017647117619817142
Q42017599118519618133
Q12018637119519917139
Q22018653124420018146

Gross External Debt1 stands at €2.3 trillion at end-June 2018.

At 30th June 2018, the gross external debt of all resident sectors (i.e. general government, the monetary authority, financial and non-financial corporations and households) amounted to €2,261bn. This represents an increase of €74bn in the stock of financial liabilities to non-residents (other than those arising from issues of Irish equities and derivatives contracts) compared to the level shown at 31st March 2018 (€2,187bn) - see Table 6(a).

Points of note are:

  • General government foreign borrowing rose by €7bn to €146bn at end-June 2018. 
  • Liabilities of the Monetary Authority consisting entirely of short term loans and deposits increased €0.2bn to €17.6bn. These liabilities are to the European System of Central Banks (ESCB) and include balances in the TARGET2 settlement system of the ESCB. 
  • Debt liabilities of Monetary financial institutions (credit institutions and money market funds) rose €1.4bn to €199.9bn. 
  • The liabilities of Other sectors at €1,244bn increased €49bn on the previous quarter. This was made up of a rise in short-term debt of €6bn and a rise in long-term debt of €43bn. 
  • Direct investment liabilities increased by €16bn to €653bn in the quarter. 
  • The Net External Debt position was €1,251bn at end-June 2018, i.e. assets exceeded liabilities - see Table 6(b).

1Gross external debt represents the stock of Ireland's liabilities to non-residents other than equity and financial derivatives.

Table 1(a) International Investment Position (IIP) classified by Financial Instrument€ million
ItemQ3 2016Q4 2016Q1 2017Q2 2017 Q3 2017 Q4 2017Q1 2018Q22018
Foreign Assets
  Direct Investment Abroad 1808,529812,639844,382825,224785,919717,133702,261778,140
  Portfolio Investment2,334,1072,442,7752,602,9472,555,2102,608,7242,698,5912,727,1972,803,514
  Other Investment 21,221,8821,234,5391,222,6531,209,1091,161,6161,207,0981,205,8111,272,190
  Reserve Assets3,1283,3843,2943,3793,5993,6723,7083,765
  Total Foreign Assets4,367,6454,493,3374,673,2774,592,9224,559,8584,626,4944,638,9774,857,609
 
Foreign Liabilities
  Direct Investment in Ireland 1775,594797,521813,829782,239764,825744,386721,773773,907
  Portfolio Investment2,831,6052,909,5003,043,4813,052,3843,048,8873,125,1053,129,9203,243,447
  Other Investment 21,230,2851,251,8861,284,8801,231,9431,206,7621,195,4521,221,3671,276,346
  Total Foreign Liabilities 4,837,4844,958,9085,142,1905,066,5665,020,4745,064,9435,073,0605,293,701
 
Net International Investment Position (IIP)
  Direct Investment132,93515,11830,55342,98521,094-27,253-19,5124,233
  Portfolio Investment-497,498-466,725-440,534-497,174-440,163-426,514-402,723-439,933
  Other Investment2-8,403-17,347-62,227-22,834-45,14611,646-15,556-4,156
  Reserve Assets3,1283,3843,2943,3793,5993,6723,7083,765
 
  Total (Net IIP)-469,839-465,571-468,913-473,644-460,616-438,449-434,084-436,092
1Reflecting the directional principle for reclassifying Direct Investment (see Background Notes).
2Includes financial derivatives and trade credits; in the case of liabilities this category also includes life insurance liabilities to non-residents.
Open in Excel: International Investment Position and External Debt June 2018 Table 1a (XLS 36KB)
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Table 1(b) International Investment Position (IIP) classified by Institutional Sector € million
ItemQ3 2016Q4 2016Q1 2017Q2 2017 Q3 2017 Q4 2017Q1 2018Q22018
Foreign Assets
  General Government10,46810,20410,29010,37510,48910,48810,66615,101
  Monetary Authority125,38623,73129,22035,19233,38331,57941,40448,107
  Monetary Financial Institutions 2715,681747,511754,706734,904734,402740,269734,560745,838
  Other Sectors33,616,1103,711,8903,879,0623,812,4513,781,5843,844,1583,852,3474,048,562
    of which:
      Other Financial Intermediaries2,816,0092,899,2293,062,0603,017,7743,019,6413,133,8703,163,1513,301,380
      Non-Financial Companies4800,100812,662817,002794,678761,943710,287689,196747,183
Total Foreign Assets4,367,6454,493,3374,673,2774,592,9224,559,8584,626,4944,638,9774,857,609
 
Foreign Liabilities
  General Government139,570134,688139,838142,036141,771133,218139,013145,942
  Monetary Authority116,44717,83216,67816,74416,94617,64617,48317,636
  Monetary Financial Institutions 2706,208723,632725,149714,098701,663700,286697,247707,884
  Other Sectors33,975,2594,082,7564,260,5264,193,6884,160,0944,213,7934,219,3184,422,239
    of which:
      Other Financial Intermediaries2,778,4772,839,3412,992,7702,962,3752,968,6583,058,8093,082,1303,217,696
      Non-Financial Companies41,196,7831,243,4151,267,7551,231,3131,191,4361,154,9841,137,1881,204,543
Total Foreign Liabilities 4,837,4844,958,9085,142,1915,066,5665,020,4745,064,9435,073,0615,293,701
 
Net International Investment Position (IIP)
  General Government-129,102 -124,484 -129,548 -131,661 -131,282 -122,730 -128,347 -130,841
  Monetary Authority18,9395,89912,54218,44816,43713,93323,92130,471
  Monetary Financial Institutions 29,47323,87929,55720,80632,73939,98337,31337,954
  Other Sectors3-359,149 -370,866 -381,464 -381,237 -378,510 -369,635 -366,971 -373,677
    of which:
      Other Financial Intermediaries37,53259,88869,29055,39950,98375,06181,02183,684
      Non-Financial Companies4-396,683 -430,753 -450,753 -436,635 -429,493 -444,697 -447,992 -457,360
Total (Net IIP)-469,839 -465,571 -468,913 -473,644 -460,616 -438,449 -434,084 -436,092
1Central Bank of Ireland.
2Covering licensed credit institutions and money market funds.
3Other sectors includes financial corporations other than the Monetary Authority and Monetary Financial Institutions, non-financial service and manufacturing companies and other industrial enterprises as well as (implicitly) households (see Background Notes). The gross liabilities to non-residents of financial corporations covered in other sectors tend to be very significant.
4Including households.
Open in Excel: International Investment Position and External Debt June 2018 Table 1b (XLS 37KB)
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Table 2 International Investment Position (IIP) - IFSC and non-IFSC activity by Institutional Sector € million
 31 March 2018 30 June 2018
ItemIFSCnon-IFSCTotal IFSCnon-IFSCTotal
Foreign Assets
  General Government010,66610,666 015,10115,101
  Monetary Authority1041,40441,404 048,10748,107
  Monetary Financial Institutions 2677,86156,699734,560 687,82658,012745,838
  Other Sectors33,015,995836,3523,852,347 3,126,643921,9204,048,563
    of which:
      Other Financial Intermediaries3,015,995147,1563,163,151 3,126,643174,7373,301,380
      Non-Financial Companies40689,196689,196 0747,183747,183
Total Foreign Assets3,693,856945,1214,638,977 3,814,4691,043,1404,857,609
 
Foreign Liabilities
  General Government0139,013139,013 0145,942145,942
  Monetary Authority1017,48317,483 017,63617,636
  Monetary Financial Institutions 2663,01734,230697,247 672,05735,827707,884
  Other Sectors33,129,1611,090,1574,219,318 3,239,9961,182,2434,422,239
    of which:
      Other Financial Intermediaries3,129,161-47,031 3,082,130 3,239,996-22,300 3,217,696
      Non-Financial Companies401,137,1881,137,188 01,204,5431,204,543
Total Foreign Liabilities 3,792,1781,280,8825,073,060 3,912,0531,381,6485,293,701
 
Net International Investment Position (IIP)
  General Government0-128,347 -128,347  0-130,841 -130,841
  Monetary Authority1023,92123,921 030,47130,471
  Monetary Financial Institutions 214,84422,46937,313 15,76922,18537,954
  Other Sectors3-113,166 -253,805 -366,971  -113,353 -260,323 -373,676
    of which:
      Other Financial Intermediaries-113,166 194,18781,021 -113,353 197,03783,684
      Non-Financial Companies40-447,992 -447,992  0-457,360 -457,360
Total (Net IIP)-98,322 -335,762 -434,084  -97,584 -338,508 -436,092
1Central Bank of Ireland.
2Covering licensed credit institutions and money market funds.
3Other sectors includes financial corporations other than the Monetary Authority and Monetary Financial Institutions, non-financial service and manufacturing companies and other industrial enterprises as well as (implicitly) households (see Background Notes). The gross liabilities to non-residents of financial corporations covered in other sectors tend to be very significant.
4Including households.
Open in Excel: International Investment Position and External Debt June 2018 Table 2 (XLS 40KB)
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Table 3(a) International Investment Position (IIP) - Detailed Data  € million
ItemQ32017Q42017Q12018Q22018
Foreign Assets
  Direct Investment Abroad1785,919717,133702,261778,140
    Equity capital and reinvested earnings 710,222645,662618,802671,749
    Other capital75,69771,47183,459106,390
 
  Portfolio Investment 2,608,7242,698,5912,727,1972,803,514
    Equity 1,066,7571,110,0221,112,1991,168,412
        Monetary authority20000
        General government4,2174,0834,3284,505
        Monetary financial institutions31,7242,129850820
        Other sectors1,060,8161,103,8091,107,0211,163,087
 
    Debt instruments1,541,9671,588,5691,614,9971,635,102
      Bonds and notes1,114,0731,138,9771,152,2011,178,827
        Monetary authority220,22920,90221,00721,021
        General government1,9441,9561,9231,971
        Monetary financial institutions379,91374,51475,98775,149
        Other sectors1,011,9871,041,6051,053,2841,080,687
 
      Money market instruments427,895449,593462,796456,275
        Monetary authority 21,4581,2841,2201,078
        General government0000
        Monetary financial institutions 3329,835341,153346,072341,900
        Other sectors96,602107,156115,504113,297
 
  Other Investment 1,161,6161,207,0981,205,8111,272,190
    Loans, currency and deposits836,981885,020884,800925,710
        Monetary authority27,2254,85014,59821,372
        General government2,4832,5892,4992,309
        Monetary financial institutions3294,348289,211284,305297,883
        Other sectors532,925588,370583,398604,146
 
    Trade Credits45,06449,87450,28551,978
        General government0000
        Other sectors45,06449,87450,28551,978
 
    Other assets4279,571272,206270,727294,503
        Monetary authority2872872872872
        General government1,8081,8231,8776,278
        Monetary financial institutions323,79927,57923,46424,837
        Other sectors253,092241,932244,514262,516
 
  Reserve assets3,5993,6723,7083,765
    Monetary gold199198197196
    Special drawing rights792776759773
    Reserve Position in the IMF966959953975
    Foreign Exchange695597641660
    Other9471,1421,1581,161
 
Total Foreign Assets4,559,8584,626,4944,638,9774,857,609
1Reflecting the directional principle for reclassifying Direct Investment (see Background Notes).
2Central Bank of Ireland.
3Covering licensed credit institutions and money market funds.
4Includes financial derivatives.
Open in Excel: International Investment Position and External Debt June 2018 Table 3a (XLS 38KB)
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Table 3(b) International Investment Position (IIP) - Detailed Data  € million
ItemQ32017Q42017Q12018Q22018
Foreign Liabilities
  Direct Investment in Ireland1764,825744,386721,773773,907
    Equity capital and reinvested earnings 712,121672,193668,098718,988
    Other capital52,70472,19353,67554,919
 
  Portfolio Investment 3,048,8873,125,1053,129,9203,243,447
    Equity 2,623,7902,704,5942,708,2322,818,359
        Monetary authority20000
        General government0000
        Monetary financial institutions3449,462453,993449,724459,905
        Other sectors2,174,3282,250,6012,258,5082,358,454
 
    Debt instruments425,097420,511421,688425,089
      Bonds and notes405,154403,027401,432405,034
        Monetary authority20000
        General government84,18782,42085,90388,073
        Monetary financial institutions329,17328,02027,38926,149
        Other sectors291,794292,587288,140290,812
 
      Money market instruments19,94317,48420,25620,055
        Monetary authority20000
        General government3,6922,3974,8575,109
        Monetary financial institutions315,40314,54014,93314,507
        Other sectors849548466439
 
  Other Investment 1,206,7621,195,4521,221,3671,276,346
    Loans, currency and deposits724,951714,399733,026752,539
        Monetary authority216,94617,64617,48317,636
        General government53,49648,00847,86447,862
        Monetary financial institutions3140,701134,759137,564141,595
        Other sectors513,807513,987530,115545,446
 
    Trade Credits43,12546,13237,81338,570
        General government0000
        Other sectors43,12546,13237,81338,570
 
    Other liabilities4438,686434,921450,528485,237
        Monetary authority20000
        General government2662642604,768
        Monetary financial institutions331,53735,42336,91135,913
        Other sectors406,883399,235413,356444,557
 
Total Foreign Liabilities5,020,4745,064,9435,073,0605,293,701
1Reflecting the directional principle for reclassifying Direct Investment (see Background Notes).
2Central Bank of Ireland.
3Covering licensed credit institutions and money market funds.
4Includes financial derivatives and also includes life insurance liabilities to non-residents.
Open in Excel: International Investment Position and External Debt June 2018 Table 3b (XLS 38KB)
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Table 4 International Investment Position (IIP) showing IFSC and non–IFSC activity  € million
ItemQ32017Q42017Q12018Q22018
Foreign Assets
  Direct Investment Abroad1785,919717,133702,261778,140
    - IFSC79,55578,56373,93879,393
    - Non-IFSC706,364638,570628,323698,747
  Portfolio Investment2,608,7242,698,5912,727,1972,803,514
    - IFSC2,453,0632,539,4622,570,7102,641,954
    - Non-IFSC155,661159,129156,487161,560
  Other Investment21,161,6161,207,0981,205,8111,272,190
    - IFSC1,029,4581,057,7491,049,2081,093,122
    - Non-IFSC132,158149,349156,603179,068
  Reserve Assets3,5993,6723,7083,765
    - IFSC0000
    - Non-IFSC3,5993,6723,7083,765
Total Foreign Assets4,559,8584,626,4944,638,9774,857,609
    - IFSC3,562,0763,675,7743,693,8563,814,469
    - Non-IFSC997,782950,720945,1211,043,140
 
Foreign Liabilities
  Direct Investment in Ireland1764,825744,386721,773773,907
    - IFSC218,926235,255215,411217,726
    - Non-IFSC545,899509,131506,362556,181
  Portfolio Investment3,048,8873,125,1053,129,9203,243,447
    - IFSC2,444,2222,531,7492,543,7522,614,532
    - Non-IFSC604,665593,356586,168628,915
  Other Investment21,206,7621,195,4521,221,3671,276,346
    - IFSC1,010,5071,002,1511,033,0151,079,794
    - Non-IFSC196,255193,301188,352196,552
Total Foreign Liabilities 5,020,4745,064,9435,073,0605,293,701
    - IFSC3,673,6553,769,1553,792,1783,912,052
    - Non-IFSC1,346,8191,295,7881,280,8821,381,648
 
Net International Investment Position (IIP)
  Direct Investment121,094-27,253-19,5124,233
    - IFSC-139,371-156,692-141,473-138,333
    - Non-IFSC160,465129,439121,961142,566
  Portfolio Investment-440,163-426,514-402,723-439,933
    - IFSC8,8417,71326,95827,422
    - Non-IFSC-449,004-434,227-429,681-467,355
  Other Investment2-45,14611,646-15,556-4,156
    - IFSC18,95155,59816,19313,328
    - Non-IFSC-64,097-43,952-31,749-17,484
  Reserve Assets3,5993,6723,7083,765
    - IFSC0000
    - Non-IFSC3,5993,6723,7083,765
Total (Net IIP)-460,616-438,449-434,084-436,092
    - IFSC-111,579-93,381-98,322-97,583
    - Non-IFSC-349,037-345,068-335,761-338,508
1Reflecting the directional principle for reclassifying Direct Investment (see Background Notes).
2Includes financial derivatives and trade credits; in the case of liabilities this category also includes life insurance liabilities to non-residents.
Open in Excel: International Investment Position and External Debt June 2018 Table 4 (XLS 38KB)
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Table 5 International Investment Position (IIP) - 30th June 2018 - Reconciliation of IIP and BOP Flows € million
ItemOpening Position 01/04/18Bop Flows in QuarterValuation and Other ChangesClosing Position 30/06/18
Foreign Assets
 
  Direct Investment Abroad1702,261-33,811 109,690778,140
    Equity capital and reinvested earnings 618,802-59,799 112,746671,749
    Other capital83,45925,988-3,057 106,390
 
  Portfolio Investment 2,727,1978,34167,9762,803,514
    Equity 1,112,19911,89644,3171,168,412
    Debt instruments 1,614,997-3,555 23,6601,635,102
      Bonds and notes1,152,2019,37417,2521,178,827
      Money market instruments462,796-12,929 6,408456,275
 
  Other Investment 1,205,81189,705-23,326 1,272,190
    Loans, currency and deposits884,80136,9383,971925,710
    Other2321,01052,767-27,297 346,480
 
  Reserve Assets3,7085523,765
 
Total Foreign Assets4,638,97764,240154,3924,857,609
 
Foreign Liabilities
 
  Direct Investment in Ireland1721,773-44,020 96,154773,907
    Equity capital and reinvested earnings 668,098-37,420 88,310718,988
    Other capital53,675-6,601 7,84654,920
 
  Portfolio Investment 3,129,92037,78575,7423,243,447
    Equity 2,708,23237,44472,6832,818,359
    Debt instruments 421,6883413,060425,089
      Bonds and notes401,4328662,736405,034
      Money market instruments20,256-524 32320,055
 
  Other Investment 1,221,36755,925-946 1,276,346
    Loans, currency and deposits733,02624,687-5,174 752,539
    Other2488,34131,2384,228523,807
 
Total Foreign Liabilities5,073,06049,690170,9515,293,701
1Reflecting the directional principle for reclassifying Direct Investment (see Background Notes).
2Includes financial derivatives and trade credits; in the case of liabilities this category also includes life insurance liabilities to non-residents.
Open in Excel: International Investment Position and External Debt June 2018 Table 5 (XLS 37KB)
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Table 6(a) - Gross External Debt1€ million
 31-Mar-18 30-Jun-18
ItemIFSCnon-IFSCTotal IFSCnon-IFSCTotal
General Government0138,884138,8840145,811145,811
Short-term07,1497,149011,92911,929
Money market instruments05,1175,11709,8769,876
Loans & Deposits02,0322,03202,0532,053
Long-term 0131,735131,7350133,882133,882
Bonds and notes085,90385,903088,07388,073
Loans045,83245,832045,80945,809
 
Monetary Authority2017,48317,483017,63617,636
Short-term017,48317,483017,63617,636
Loans and deposits017,48317,483017,63617,636
Long-term 000000
Other debt liabilities000000
 
Monetary Financial Institutions3172,72125,824198,545173,66626,260199,926
Short-term119,64518,198137,843123,44018,847142,287
Money market instruments14,933014,93314,507014,507
Loans and deposits104,71218,198122,910108,93318,847127,780
 Long-term53,0767,62660,70250,2267,41357,639
Bonds and notes21,4915,89827,38920,0526,09726,149
Loans 12,9831,67114,65412,5541,26113,815
Other debt liabilities18,6025718,65917,6205517,675
 
Other Sectors41,089,924105,3571,195,2811,135,505108,7351,244,240
Short-term243,24741,266284,513248,44742,172290,619
Money market instruments11235446638401439
Loans and deposits 234,20512,029246,234239,66111,949251,610
Trade credits 8,93028,88337,8138,74829,82238,570
Long-term846,67764,091910,768887,05866,563953,621
Bonds and notes282,6205,520288,140284,9655,847290,812
Loans 260,34423,538283,882270,35423,482293,836
Other debt liabilities303,71335,033338,746331,73937,234368,973
 
Direct Investment5173,594463,166636,760182,318470,774653,092
Debt liabilities to affiliated enterprises 4,326162,407166,7334,528172,576177,104
Debt liabilities to direct investors169,268300,759470,027177,790298,198475,988
 
Gross External Debt1,436,239750,7142,186,952 1,491,489769,2162,260,705
1Gross external debt represents the stock of Ireland's liabilities to non-residents other than equity and financial derivatives.
2Central Bank of Ireland.
3Covering licensed credit institutions and money market funds.
4Other sectors includes financial corporations other than the Monetary Authority and Monetary Financial Institutions, non-financial service and manufacturing companies and other industrial enterprises as well as (implicitly) households (see Background Notes). The gross liabilities to non-residents of financial corporations covered in other sectors tend to be very significant.
5Covering inter affiliate loans, non-equity securities, trade credits and other debt liabilities. Debt liabilities to affiliated enterprises refers to direct investment abroad while debt liabilities to direct investors refers to direct investment in Ireland.
Open in Excel: International Investment Position and External Debt June 2018 Table 6a (XLS 39KB)
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Table 6(b) - Debt Instrument Financial Assets1
 31-Mar-18 30-Jun-18
ItemIFSCnon-IFSCTotal IFSCnon-IFSCTotal
General Government04,4224,42204,2804,280
Short-term01,0131,0130821821
Money market instruments000000
Loans and deposits01,0131,0130821821
Long-term 03,4093,40903,4593,459
Bonds and notes01,9231,92301,9711,971
Loans01,4861,48601,4881,488
 
Monetary Authority 2036,82536,825043,47143,471
Short-term015,81815,818022,45022,450
Money market instruments01,2201,22001,0781,078
Loans and deposits014,59814,598021,37221,372
Long-term 021,00721,007021,02121,021
Bonds and notes021,00721,007021,02121,021
 
Monetary Financial Institutions3665,93149,487715,418674,10150,419724,520
Short-term574,04224,019598,061591,17522,941614,116
Money market instruments345,871201346,072341,599301341,900
Loans and deposits228,17123,818251,989249,57622,640272,216
 Long-term91,88925,468117,35782,92627,478110,404
Bonds and notes59,12816,85975,98757,16317,98675,149
Loans 23,9128,40432,31616,3909,27725,667
Other debt Assets8,8492059,0549,3732159,588
 
Other Sectors41,823,722142,8761,966,5981,878,649153,9732,032,622
Short-term341,22055,247396,467346,95160,276407,227
Money market instruments113,5151,989115,504112,499798113,297
Loans and deposits 205,45925,219230,678212,30529,647241,952
Trade credit assets 22,24628,03950,28522,14729,83151,978
Long-term1,482,50287,6291,570,1311,531,69893,6971,625,395
Bonds and notes1,012,76940,5151,053,2841,039,22241,4651,080,687
Loans 352,595125352,720362,11777362,194
Other debt Assets117,13846,989164,127130,35952,155182,514
 
Direct Investment5194,514472,030666,544204,779499,783704,562
Debt asset claims on affiliated enterprises 4,645245,547250,1924,751278,743283,494
Debt asset claims on direct investors189,869226,483416,352200,028221,040421,068
 
Reserve Assets01,7761,77601,7771,777
 
Debt Instrument Financial Assets2,684,167707,4163,391,5832,757,529753,7033,511,232
 
Net External Debt61,247,928-43,2981,204,631 1,266,040-15,5131,250,527
1External Assets in Debt Instruments represents the stock of Ireland's claims on non-residents other than equity and financial derivatives.
2Central Bank of Ireland.
3Covering licensed credit institutions and money market funds.
4Other sectors includes financial corporations other than the Monetary Authority and Monetary Financial Institutions, non-financial service and manufacturing companies and other industrial enterprises as well as (implicitly) households (see Background Notes). The gross claims on non-residents of financial corporations covered in other sectors tend to be very significant.
5Covering inter affiliate loans, non-equity securities, trade credits and other debt assets. Debt claims on affiliated enterprises refers to direct investment abroad while debt claims on direct investors refers to direct investment in Ireland.
6Net External Debt equals Gross External Debt (from table 6a) minus External Assets in Debt Instruments. A negative sign indicates a net Asset position.
Open in Excel: International Investment Position and External Debt June 2018 Table 6b (XLS 39KB)
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Background Notes

Definition

The international investment position (or IIP) is a point in time statistical statement of the value and composition of the stock of an economy’s foreign financial assets, or the economy’s claims on the rest of the world, and the value and composition of the stock of an economy’s financial liabilities (or obligations) to the rest of the world.

The IMF External Debt Manual defines external debt to be a point in time statistical statement of the value and composition of the stock of an economy’s gross foreign financial liabilities to the rest of the world. The liabilities referred to cover those arising from Irish residents issuing debt securities such as bonds, notes and money market instruments to non-residents, as well as any loans received from and outstanding to non-residents, and any trade payables due to non-residents. In essence, external debt refers to financial obligations to non-residents other than those arising from transactions in equity or financial derivative contracts.

For more detailed methodological information see Methodology Document (PDF 298KB)  

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