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)
Q4 2013 | Q1 2014 | Q2 2014 | Q3 2014 | Q4 2014 | ||||||
---|---|---|---|---|---|---|---|---|---|---|
Transactions | Other changes |
Amounts outstanding |
Transactions | Other changes |
Amounts outstanding |
Percentage of GDP |
||||
Net/Balance | -1,515 | -1,421 | -1,278 | 81 | -127 | -1,324 | 80 | -42 | -1,286 | -13 |
of which: Direct investment | 1,676 | 1,847 | 1,904 | 22 | -59 | 1,867 | 5 | -175 | 1,697 | 17 |
of which: Portfolio investment | -3,469 | -3,608 | -3,673 | 92 | -49 | -3,631 | 93 | -69 | -3,606 | -36 |
of which: Other investment | -117 | -101 | 35 | -50 | 10 | -6 | -30 | 164 | 128 | 1 |
Assets | 17,707 | 18,138 | 18,625 | 193 | 528 | 19,346 | 87 | 109 | 19,542 | 193 |
Direct investment | 7,325 | 7,453 | 7,503 | 65 | 155 | 7,723 | 70 | -252 | 7,542 | 75 |
Equity | 5,081 | 5,130 | 5,152 | 47 | 78 | 5,277 | 28 | -38 | 5,267 | 52 |
Debt instruments | 2,245 | 2,323 | 2,351 | 18 | 77 | 2,447 | 42 | -214 | 2,274 | 22 |
Portfolio investment | 5,581 | 5,671 | 5,959 | 115 | 264 | 6,337 | 92 | 92 | 6,522 | 65 |
Equity | 1,949 | 2,016 | 2,122 | 30 | 107 | 2,259 | 20 | 79 | 2,358 | 23 |
Investment fund shares | 339 | 331 | 368 | -4 | 43 | 407 | -8 | 19 | 418 | 4 |
Debt securitites | 3,292 | 3,324 | 3,468 | 88 | 114 | 3,671 | 80 | -6 | 3,745 | 37 |
Short-term | 471 | 481 | 506 | 25 | 61 | 592 | 22 | -16 | 599 | 6 |
Long-term | 2,821 | 2,842 | 2,962 | 63 | 53 | 3,079 | 57 | 10 | 3,146 | 31 |
Financial derivatives (net assets) | -63 | -56 | -51 | 18 | -42 | -75 | 11 | 25 | -39 | -0 |
Other investment | 4,405 | 4,574 | 4,707 | -4 | 138 | 4,841 | -88 | 231 | 4,983 | 49 |
of which: Currency and deposits | 2,202 | 2,342 | 2,440 | -28 | 78 | 2,490 | -79 | 148 | 2,559 | 25 |
Reserve assets | 459 | 497 | 507 | -1 | 14 | 519 | 2 | 13 | 534 | 5 |
Liabilities | 19,222 | 19,559 | 19,903 | 111 | 656 | 20,671 | 6 | 150 | 20,827 | 206 |
Direct investment | 5,650 | 5,606 | 5,599 | 43 | 214 | 5,857 | 65 | -77 | 5,845 | 58 |
Equity | 3,721 | 3,693 | 3,686 | 48 | 88 | 3,822 | 70 | 20 | 3,912 | 39 |
Debt instruments | 1,929 | 1,913 | 1,914 | -5 | 126 | 2,035 | -5 | -97 | 1,933 | 19 |
Portfolio investment | 9,050 | 9,279 | 9,632 | 23 | 313 | 9,968 | -1 | 161 | 10,128 | 100 |
Equity | 1,694 | 1,739 | 1,830 | 5 | 6 | 1,841 | 1 | -11 | 1,830 | 18 |
Investment fund shares | 2,482 | 2,587 | 2,698 | 55 | 188 | 2,941 | 35 | 21 | 2,998 | 30 |
Debt securities | 4,874 | 4,953 | 5,104 | -37 | 119 | 5,186 | -37 | 152 | 5,300 | 52 |
Short-term | 465 | 453 | 480 | 8 | -5 | 484 | -47 | 16 | 453 | 4 |
Long-term | 4,409 | 4,500 | 4,624 | -46 | 124 | 4,702 | 10 | 135 | 4,847 | 48 |
Other investment | 4,523 | 4,674 | 4,672 | 46 | 128 | 4,846 | -58 | 66 | 4,855 | 48 |
of which: Currency and deposits | 2,785 | 2,823 | 2,802 | 21 | 85 | 2,908 | -54 | 9 | 2,863 | 28 |
Memo item: Gross external debt | 11,321 | 11,536 | 11,685 | - | - | 12,063 | - | - | 12,093 | 120 |
Memo item: Net external debt | 1,202 | 1,130 | 971 | - | - | 905 | - | - | 875 | 9 |
Source: ECB.