Table 5.1 International Investment Position | € billion | |||||
30 June 2020 | 30 September 2020 | |||||
Assets | Liabilities | NET | Assets | Liabilities | NET | |
General Government | 22.2 | 167.4 | -145.1 | 22.2 | 164.0 | -141.9 |
Monetary Authority | 79.7 | 20.0 | 59.6 | 80.1 | 20.5 | 59.6 |
Monetary Financial Institutions | 1,012.9 | 934.8 | 78.2 | 992.9 | 918.5 | 74.4 |
Other Financial Intermediaries | 3,822.6 | 3,810.1 | 12.5 | 3,899.8 | 3,885.3 | 14.6 |
Non-Financial Companies | 911.3 | 1,550.2 | -638.9 | 896.9 | 1,505.7 | -608.8 |
Total | 5,848.8 | 6,482.5 | -633.7 | 5,891.9 | 6,494.0 | -602.1 |
At 30th September 2020, Ireland's quarterly international investment position (IIP) results show overall stocks of foreign financial assets of €5,892bn - an increase of €043bn on the end-June 2020 level, while the corresponding stocks of foreign financial liabilities increased by €011bn to €6,494bn over the quarter. Irish residents had an overall net foreign liability of €602bn at end-September 2020, a decrease of €32bn in the net foreign liability level at end-June 2020 - see Table 5.2.
X-axis label | Net IIP %GDP |
---|---|
Q42018 | -181 |
Q12019 | -172 |
Q22019 | -178 |
Q32019 | -175 |
Q42019 | -174 |
Q12020 | -176 |
Q22020 | -176 |
Q32020 | -164 |
Some points of note in the Quarter 3 2020 IIP are:
X-axis label | Direct Investment | Portfolio Investment | Other Investment | Reserve Assets | Net IIP |
---|---|---|---|---|---|
Q42018 | -70.5 | -428 | -96.8 | 4.6 | -590.8 |
Q12019 | -70.3 | -465.8 | -41.2 | 4.6 | -572.7 |
Q22019 | -87.4 | -501.4 | -19 | 4.7 | -603.1 |
Q32019 | -63.9 | -550.5 | 0.7 | 5 | -608.8 |
Q42019 | -59.1 | -550.6 | -14.1 | 5.1 | -618.8 |
Q12020 | -104.3 | -582.1 | 42 | 5.3 | -639.2 |
Q22020 | -188 | -500.4 | 49.5 | 5.2 | -633.7 |
Q32020 | -113 | -554.2 | 59.4 | 5.7 | -602.1 |
Figure 2 shows the net IIP over time along with the contribution of each instrument type to it.
X-axis label | General Government | Monetary Financial Institutions | Other Financial Intermediaries | Non-Financial Companies |
---|---|---|---|---|
31 Dec 2019 | 862 | 522 | 1166 | 851 |
31 Mar 2020 | 830 | 437 | 990 | 759 |
30 Jun 2020 | 924 | 485 | 1153 | 793 |
30 Sep 2020 | 905 | 472 | 1205 | 814 |
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:
X-axis label | Direct Investment | Other Sectors | Monetary Financial Institutions | Monetary Authority | General Government |
---|---|---|---|---|---|
Q42019 | 636 | 1514 | 262 | 22 | 147 |
Q12020 | 628 | 1570 | 289 | 20 | 155 |
Q22020 | 554 | 1554 | 274 | 20 | 167 |
Q32020 | 508 | 1574 | 268 | 21 | 164 |
Gross External Debt stands at €2.5 trillion at end-September 2020.
At 30th September 2020, the gross external debt of all resident sectors (i.e. general government, the monetary authority, financial and non-financial corporations and households) amounted to €2,534bn.
This represents a decrease of €35bn 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 30th June 2020 (€2,570bn) - see Table 6(a).
Points of note are:
Gross external debt represents the stock of Ireland's liabilities to non-residents other than equity and financial derivatives.
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