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.