Table 2: International investment position of the euro area
(EUR billions, unless otherwise indicated; amounts outstanding at the end of the period, flows during the period; non working day and non seasonally adjusted)
Q3 2013 | Q4 2013 | Q1 2014 | Q2 2014 | Q3 2014 | ||||||
---|---|---|---|---|---|---|---|---|---|---|
Transactions | Other changes |
Amounts outstanding |
Transactions | Other changes |
Amounts outstanding |
Percentage of GDP |
||||
Net/Balance | -1,503 | -1,341 | -1,264 | 80 | 146 | -1,039 | 69 | 36 | -934 | -9 |
of which: Direct investment | 1,584 | 1,679 | 1,842 | -1 | 102 | 1,943 | 28 | 68 | 2,039 | 20 |
of which: Portfolio investment | -3,334 | -3,393 | -3,557 | -43 | 28 | -3,572 | 76 | -64 | -3,559 | -35 |
of which: Other investment | -282 | -105 | -71 | 107 | 14 | 51 | -50 | 66 | 66 | 1 |
Assets | 17,618 | 17,766 | 18,192 | 212 | 304 | 18,709 | 182 | 567 | 19,458 | 194 |
Direct investment | 6,994 | 7,229 | 7,345 | -15 | 135 | 7,465 | 56 | 122 | 7,643 | 76 |
Equity | 4,846 | 5,040 | 5,107 | -47 | 70 | 5,130 | 42 | 117 | 5,289 | 53 |
Debt instruments | 2,148 | 2,190 | 2,238 | 32 | 65 | 2,335 | 15 | 4 | 2,354 | 23 |
Portfolio investment | 5,570 | 5,659 | 5,747 | 157 | 133 | 6,037 | 115 | 256 | 6,408 | 64 |
Equity | 1,910 | 2,013 | 2,081 | 57 | 50 | 2,189 | 30 | 109 | 2,328 | 23 |
Investment fund shares | 326 | 339 | 330 | 10 | 29 | 369 | -3 | 42 | 408 | 4 |
Debt securitites | 3,335 | 3,307 | 3,336 | 90 | 54 | 3,480 | 87 | 105 | 3,672 | 37 |
Short-term | 487 | 475 | 486 | 17 | 7 | 510 | 26 | 57 | 593 | 6 |
Long-term | 2,847 | 2,832 | 2,850 | 73 | 47 | 2,970 | 61 | 48 | 3,079 | 31 |
Financial derivatives (net assets) | -57 | -65 | -49 | 16 | -10 | -44 | 16 | -50 | -77 | -1 |
Other investment | 4,524 | 4,400 | 4,578 | 54 | 34 | 4,666 | -4 | 224 | 4,887 | 49 |
of which: Currency and deposits | 2,256 | 2,212 | 2,338 | 58 | 5 | 2,401 | -24 | 113 | 2,490 | 25 |
Reserve assets | 587 | 542 | 571 | 0 | 12 | 583 | -1 | 15 | 597 | 6 |
Liabilities | 19,121 | 19,107 | 19,456 | 133 | 159 | 19,748 | 113 | 531 | 20,392 | 203 |
Direct investment | 5,410 | 5,550 | 5,503 | -14 | 33 | 5,522 | 28 | 53 | 5,604 | 56 |
Equity | 3,512 | 3,651 | 3,624 | -28 | 16 | 3,612 | 31 | 28 | 3,671 | 37 |
Debt instruments | 1,898 | 1,899 | 1,878 | 15 | 18 | 1,911 | -2 | 26 | 1,935 | 19 |
Portfolio investment | 8,904 | 9,052 | 9,304 | 200 | 105 | 9,610 | 38 | 319 | 9,967 | 99 |
Equity | 1,497 | 1,654 | 1,705 | 29 | 63 | 1,796 | 6 | 17 | 1,819 | 18 |
Investment fund shares | 2,441 | 2,482 | 2,587 | 81 | 29 | 2,697 | 60 | 183 | 2,940 | 29 |
Debt securities | 4,967 | 4,915 | 5,012 | 90 | 14 | 5,116 | -28 | 119 | 5,208 | 52 |
Short-term | 485 | 464 | 455 | 24 | 2 | 482 | 15 | -5 | 492 | 5 |
Long-term | 4,482 | 4,451 | 4,557 | 66 | 11 | 4,634 | -43 | 124 | 4,715 | 47 |
Other investment | 4,807 | 4,503 | 4,649 | -54 | 20 | 4,616 | 47 | 158 | 4,821 | 48 |
of which: Currency and deposits | 2,896 | 2,742 | 2,820 | -37 | 14 | 2,798 | 25 | 80 | 2,903 | 29 |
Memo item: Gross external debt | 11,667 | 11,313 | 11,535 | - | - | 11,639 | - | - | 11,959 | 119 |
Memo item: Net external debt | 1,351 | 1,116 | 1,071 | - | - | 842 | - | - | 715 | 7 |
Source: ECB.