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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 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015
Transactions Other changes Amounts outstanding Transactions Other changes Amounts outstanding Percentage of GDP
Net/Balance -1,163 -1,121 -1,006 38 119 -849 45 -71 -875 -8
of which: Direct investment 1,815 1,845 2,320 -43 -110 2,168 -31 -113 2,024 20
of which: Portfolio investment -3,336 -3,363 -3,834 127 185 -3,522 121 57 -3,344 -32
of which: Other investment -184 -172 -113 -45 30 -128 -46 11 -162 -2
Assets 19,137 19,875 21,842 61 -453 21,450 59 -162 21,347 207
Direct investment 7,744 8,248 8,953 97 -178 8,872 106 199 9,177 89
Equity 5,241 5,648 6,105 56 -133 6,028 105 134 6,267 61
Debt instruments 2,503 2,600 2,848 41 -45 2,844 1 65 2,911 28
Portfolio investment 6,234 6,467 7,225 128 -248 7,106 14 -339 6,781 66
Equity 2,260 2,361 2,678 41 -89 2,630 -13 -270 2,347 23
Investment fund shares 407 422 472 -4 -3 465 -7 -6 452 4
Debt securitites 3,568 3,684 4,075 91 -156 4,010 35 -63 3,981 39
Short-term 581 593 647 -5 -14 628 -35 -3 591 6
Long-term 2,987 3,091 3,429 95 -142 3,382 70 -60 3,391 33
Financial derivatives (net assets) -55 -43 -69 1 43 -25 -2 -10 -37 -0
Other investment 4,616 4,590 5,043 -163 -43 4,836 -63 8 4,781 46
of which: Currency and deposits 2,536 2,552 2,795 -135 -35 2,626 -24 -6 2,596 25
Reserve assets 597 612 690 -2 -30 658 3 -17 644 6
Liabilities 20,301 20,995 22,848 23 -575 22,296 14 -88 22,222 215
Direct investment 5,930 6,403 6,633 140 -68 6,704 138 312 7,154 69
Equity 3,740 4,148 4,181 71 -33 4,219 133 217 4,569 44
Debt instruments 2,190 2,255 2,452 69 -35 2,485 5 95 2,585 25
Portfolio investment 9,571 9,830 11,059 2 -433 10,628 -107 -396 10,125 98
Equity 1,791 1,802 2,243 9 -135 2,116 -49 -213 1,855 18
Investment fund shares 2,912 2,992 3,412 17 -125 3,304 44 -222 3,126 30
Debt securities 4,869 5,036 5,405 -24 -173 5,208 -102 38 5,145 50
Short-term 461 409 444 -25 -2 416 -12 5 409 4
Long-term 4,407 4,626 4,962 1 -171 4,792 -90 33 4,735 46
Other investment 4,800 4,763 5,155 -118 -74 4,963 -17 -3 4,943 48
of which: Currency and deposits 2,902 2,866 3,159 -58 -44 3,058 -12 -13 3,032 29
Memo item: Gross external debt 11,854 12,048 13,008  -  - 12,653  -  - 12,669 123
Memo item: Net external debt 966 966 799  -  - 734  -  - 765 7
Source: ECB.

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 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015
Transactions Other changes Amounts outstanding Transactions Other changes Amounts outstanding Percentage of GDP
Net/Balance -1,163 -1,121 -1,006 38 119 -849 45 -71 -875 -8
of which: Direct investment 1,815 1,845 2,320 -43 -110 2,168 -31 -113 2,024 20
of which: Portfolio investment -3,336 -3,363 -3,834 127 185 -3,522 121 57 -3,344 -32
of which: Other investment -184 -172 -113 -45 30 -128 -46 11 -162 -2
Assets 19,137 19,875 21,842 61 -453 21,450 59 -162 21,347 207
Direct investment 7,744 8,248 8,953 97 -178 8,872 106 199 9,177 89
Equity 5,241 5,648 6,105 56 -133 6,028 105 134 6,267 61
Debt instruments 2,503 2,600 2,848 41 -45 2,844 1 65 2,911 28
Portfolio investment 6,234 6,467 7,225 128 -248 7,106 14 -339 6,781 66
Equity 2,260 2,361 2,678 41 -89 2,630 -13 -270 2,347 23
Investment fund shares 407 422 472 -4 -3 465 -7 -6 452 4
Debt securitites 3,568 3,684 4,075 91 -156 4,010 35 -63 3,981 39
Short-term 581 593 647 -5 -14 628 -35 -3 591 6
Long-term 2,987 3,091 3,429 95 -142 3,382 70 -60 3,391 33
Financial derivatives (net assets) -55 -43 -69 1 43 -25 -2 -10 -37 -0
Other investment 4,616 4,590 5,043 -163 -43 4,836 -63 8 4,781 46
of which: Currency and deposits 2,536 2,552 2,795 -135 -35 2,626 -24 -6 2,596 25
Reserve assets 597 612 690 -2 -30 658 3 -17 644 6
Liabilities 20,301 20,995 22,848 23 -575 22,296 14 -88 22,222 215
Direct investment 5,930 6,403 6,633 140 -68 6,704 138 312 7,154 69
Equity 3,740 4,148 4,181 71 -33 4,219 133 217 4,569 44
Debt instruments 2,190 2,255 2,452 69 -35 2,485 5 95 2,585 25
Portfolio investment 9,571 9,830 11,059 2 -433 10,628 -107 -396 10,125 98
Equity 1,791 1,802 2,243 9 -135 2,116 -49 -213 1,855 18
Investment fund shares 2,912 2,992 3,412 17 -125 3,304 44 -222 3,126 30
Debt securities 4,869 5,036 5,405 -24 -173 5,208 -102 38 5,145 50
Short-term 461 409 444 -25 -2 416 -12 5 409 4
Long-term 4,407 4,626 4,962 1 -171 4,792 -90 33 4,735 46
Other investment 4,800 4,763 5,155 -118 -74 4,963 -17 -3 4,943 48
of which: Currency and deposits 2,902 2,866 3,159 -58 -44 3,058 -12 -13 3,032 29
Memo item: Gross external debt 11,854 12,048 13,008  -  - 12,653  -  - 12,669 123
Memo item: Net external debt 966 966 799  -  - 734  -  - 765 7
Source: ECB.