RDP 9405: External Debt and Liabilities of Industrial Countries Appendix A: Industrial Country Summary Tables

Mark Rider

November 1994

The data in Appendix A are available on disk on request.

International Investment Position – Australia
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
ASSETS
Total External Assets 23.0 22.5 29.3 45.2 59.2 67.6 75.1 75.2 78.8 75.7
% of GDP 13.7 15.6 18.0 23.7 25.0 26.3 25.7 25.7 27.0 27.8
Direct Investment Assets 6.6 6.5 8.8 14.8 24.5 28.2 31.2 29.5 32.6 30.3
% of GDP 3.9 4.5 5.4 7.8 10.3 11.0 10.6 10.1 11.2 11.1
Portfolio & Other Assets 16.4 16.0 20.5 30.4 34.7 39.4 43.9 45.7 46.2 45.4
% of GDP 9.8 11.1 12.6 15.9 14.6 15.3 15.0 15.6 15.9 16.6
Official 12.4 10.6 10.5 14.8 18.5 17.7 19.7 21.2 18.7 15.8
Banks 0.2 0.4 0.9 2.0 2.3 2.8 3.1 2.6 3.4 3.3
Non-bank 3.9 5.0 9.0 13.6 13.9 18.9 21.2 21.9 24.1 26.3
Memo-Item:
Non-Equity Assets 16.1 14.7 15.6 20.1 26.4 27.7 30.7 34.2 32.6 30.9
% of GDP 9.6 10.2 9.6 10.5 11.1 10.8 10.5 11.7 11.2 11.3
Official 12.4 10.6 10.5 14.8 18.5 17.7 19.7 21.2 18.7 15.8
% of GDP 7.4 7.3 6.5 7.8 7.8 6.9 6.7 7.2 6.4 5.8
Non-Official 3.7 4.1 5.1 5.3 7.9 10.0 11.0 13.0 13.8 15.1
% of GDP 2.2 2.9 3.1 2.8 3.3 3.9 3.8 4.5 4.7 5.5
Equity Assets 6.9 7.8 13.7 25.1 32.9 39.8 44.4 41.0 46.3 44.8
% of GDP 4.1 5.4 8.4 13.2 13.8 15.5 15.2 14.0 15.9 16.4
LIABILITIES
Total External Liabilities 70.5 74.3 95.2 129.8 159.4 181.2 208.2 220.9 228.2 224.4
% of GDP 42.0 51.6 58.6 68.1 67.2 70.4 71.1 75.4 78.3 82.3
Direct Investment Liabilities 27.5 24.5 27.6 39.6 52.4 63.1 73.4 76.1 78.6 74.8
% of GDP 16.4 17.0 17.0 20.8 22.1 24.5 25.1 26.0 27.0 27.4
Portfolio & Other Liabilities 43.1 49.8 67.6 90.2 107.0 118.2 134.8 144.7 149.6 149.6
% of GDP 25.7 34.6 41.6 47.3 45.1 45.9 46.1 49.4 51.3 54.8
Official 8.0 10.1 16.2 22.1 26.5 27.9 31.1 31.4 32.7 38.8
Banks 1.6 2.7 6.7 10.1 14.7 20.9 26.6 32.6 36.7 35.7
Non-bank 33.5 37.0 44.7 58.0 65.8 69.4 77.1 80.7 80.2 75.1
Memo Item:                    
External Debt 42.8 49.3 67.3 82.7 103.7 116.7 133.8 142.3 147.6 144.0
% of GDP 25.5 34.2 41.4 43.4 43.7 45.4 45.7 48.6 50.6 52.8
Official 8.0 10.1 16.2 22.1 26.5 27.9 31.1 31.4 32.7 38.8
% of GDP 4.7 7.0 10.0 11.6 11.2 10.8 10.6 10.7 11.2 14.2
Non-Official 34.8 39.2 51.1 60.6 77.2 88.8 102.7 110.9 114.9 105.2
% of GDP 20.7 27.2 31.5 31.8 32.5 34.5 35.1 37.9 39.4 38.6
Equity Liabilities 27.8 25.0 27.9 47.0 55.8 64.5 74.4 78.6 80.6 80.4
% of GDP 16.5 17.4 17.1 24.7 23.5 25.1 25.4 26.8 27.7 29.5
Net Measures of External Liabilities – Australia
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
Net External Liabilities 47.5 51.8 65.9 84.5 100.2 113.7 133.1 145.7 149.4 148.6
% of GDP 28.3 36.0 40.5 44.4 42.2 44.2 45.5 49.8 51.3 54.5
% of Exports of G & S 193.1 220.7 252.5 269.2 247.0 275.0 280.5 291.1 289.9 295.3
Net Direct Investment
% of GDP 12.4 12.5 11.6 13.0 11.7 13.6 14.4 15.9 15.8 16.3
% of Exports of G & S 84.8 76.6 71.9 78.7 68.8 84.5 89.0 93.2 89.3 88.3
Net Portfolio and Other
% of GDP 15.9 23.5 29.0 31.4 30.4 30.6 31.0 33.8 35.5 38.2
% of Exports of G & S 108.2 144.1 180.6 190.4 178.2 190.6 191.5 197.9 200.7 207.0
Net Official −4.4 −0.5 5.7 7.3 8.0 10.2 11.4 10.3 14.0 22.9
% of GDP −2.6 −0.3 3.5 3.8 3.4 4.0 3.9 3.5 4.8 8.4
Net Banks 1.4 2.4 5.7 8.1 12.3 18.1 23.5 30.0 33.4 32.4
% of GDP 0.8 1.6 3.5 4.3 5.2 7.0 8.0 10.2 11.4 11.9
Net Non-bank 29.7 31.9 35.7 44.4 51.9 50.5 55.9 58.8 56.1 48.9
% of GDP 17.7 22.2 22.0 23.3 21.9 19.6 19.1 20.1 19.2 17.9
Memo Item:                    
Net External Debt 26.7 34.6 51.7 62.6 77.3 89.0 103.1 108.1 115.1 113.1
% of GDP 15.9 24.0 31.8 32.9 32.6 34.6 35.2 36.9 39.5 41.5
% of Exports of G & S 108.4 147.4 198.3 199.4 190.6 215.3 217.2 216.0 223.3 224.7
Net Official −4.4 −0.5 5.7 7.3 8.0 10.2 11.4 10.3 14.0 22.9
% of GDP −2.6 −0.3 3.5 3.8 3.4 4.0 3.9 3.5 4.8 8.4
Net Non-Official 31.1 35.0 46.1 55.3 69.3 78.8 91.6 97.8 101.1 90.2
% of GDP 18.5 24.4 28.3 29.0 29.2 30.6 31.3 33.4 34.7 33.1
Net Equity Liabilities 20.8 17.2 14.2 21.9 22.9 24.7 30.0 37.6 34.3 35.5
% of GDP 12.4 12.0 8.7 11.5 9.6 9.6 10.3 12.8 11.8 13.0
% of Exports of G & S 84.7 73.4 54.2 69.8 56.4 59.7 63.2 75.1 66.6 70.6
Gross Portfolio and Other
% of GDP 25.6 34.4 41.0 46.3 44.1 44.8 45.0 48.6 50.2 53.6
% of Exports of G & S 174.3 210.6 255.5 280.8 258.0 279.1 277.5 284.0 283.8 290.7
International Investment Position – Austria
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
ASSETS
Total External Assets 37.8 53.0 63.3 73.7 84.0 94.3 110.0 113.1 118.6 –
% of GDP 65.3 67.9 61.1 56.0 67.4 66.7 65.5 62.6 66.4 –
Direct Investment Assets 0.7 0.8 1.1 1.4 1.7 2.5 4.4 5.8 7.6 –
% of GDP 1.2 1.0 1.0 1.1 1.4 1.7 2.6 3.2 4.2 –
Portfolio & Other Assets 37.1 52.3 62.3 72.3 82.3 91.9 105.6 107.3 111.1 –
% of GDP 64.0 67.0 60.0 54.9 66.0 65.0 62.9 59.4 62.2 –
Official 6.6 7.8 9.8 11.7 11.2 13.3 14.9 16.2 22.0 –
Banks 26.5 36.8 48.9 59.0 54.6 58.9 66.0 66.2 65.2 –
Non-bank 4.0 7.7 3.6 1.6 16.5 19.6 24.7 24.9 23.9 –
Memo Item:                    
Non-Equity Assets – – – – – – – – 107.6 –
% of GDP – – – – – – – – 60.2 –
Official – – – – – – – – 22.0 –
% of GDP – – – – – – – – 12.3 –
Non-Official – – – – – – – – 85.6 –
% of GDP – – – – – – – – 47.9 –
Equity Assets – – – – – – – – 11.0 –
% of GDP – – – – – – – – 6.2 –
LIABILITIES
Total External Liabilities 41.5 57.1 68.5 79.8 91.2 102.5 118.4 123.4 125.9 –
% of GDP 71.6 73.2 66.0 60.6 73.1 72.5 70.5 68.3 70.5 –
Direct Investment Liabilities 2.5 2.8 3.0 3.5 4.0 7.9 9.8 10.1 10.8 –
% of GDP 4.3 3.5 2.9 2.7 3.2 5.6 5.8 5.6 6.1 –
Portfolio & Other Liabilities 38.9 54.4 65.5 76.3 87.1 94.6 108.6 113.3 115.1 –
% of GDP 67.2 69.7 63.1 57.9 69.9 66.9 64.7 62.8 64.4 –
Official 5.0 7.1 9.1 11.1 10.4 12.0 13.8 15.0 22.0 –
Banks 28.2 38.0 50.9 62.4 59.4 66.0 74.3 76.6 75.3 –
Non-bank 5.8 9.3 5.5 2.8 17.4 16.6 20.5 21.7 17.8 –
Memo Item:                    
External Debt – – – – – – – – 113.4 –
% of GDP – – – – – – – – 63.4 –
Official – – – – – – – – 22.0 –
% of GDP – – – – – – – – 12.3 –
Non-Official – – – – – – – – 91.3 –
% of GDP – – – – – – – – 51.1 –
Equity Liabilities – – – – – – – – 12.6 –
% of GDP – – – – – – – – 7.0 –
Net Measures of External Liabilities – Austria
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
Net External Liabilities 3.7 4.1 5.1 6.2 7.2 8.2 8.4 10.3 7.3 –
% of GDP 6.3 5.3 5.0 4.7 5.7 5.8 5.0 5.7 4.1 –
% of Exports of G & S 16.2 13.0 13.5 13.1 15.3 14.5 12.4 13.9 10.3 –
Net Direct Investment
% of GDP 3.1 2.6 1.9 1.6 1.8 3.9 3.2 2.4 1.8 –
% of Exports of G & S 8.0 6.3 5.1 4.5 4.9 9.8 7.9 5.7 4.6 –
Net Portfolio and Other
% of GDP 3.2 2.7 3.1 3.1 3.9 1.9 1.8 3.4 2.3 –
% of Exports of G & S 8.3 6.7 8.4 8.7 10.4 4.8 4.5 8.2 5.7 –
Net Official −1.5 −0.7 −0.7 −0.6 −0.8 −1.3 −1.0 −1.1 0.0 –
% of GDP −2.7 −0.9 −0.7 −0.5 −0.6 −0.9 −0.6 −0.6 0.0 –
Net Banks 1.6 1.3 2.0 3.5 4.8 7.0 8.3 10.4 10.1 –
% of GDP 2.8 1.6 1.9 2.6 3.8 5.0 4.9 5.7 5.7 –
Net Non-bank 1.8 1.6 1.9 1.2 0.9 −3.1 −4.2 −3.2 −6.1 –
% of GDP 3.0 2.1 1.8 0.9 0.7 −2.2 −2.5 −1.8 −3.4 –
Memo Item:                    
Net External Debt – – – – – – – – 5.7 –
% of GDP – – – – – – – – 3.2 –
% of Exports of G & S – – – – – – – – 8.1 –
Official – – – – – – – – 0.0 –
% of GDP – – – – – – – – 0.0 –
Non-Official – – – – – – – – 5.7 –
% of GDP – – – – – – – – 3.2 –
Net Equity Liabilities – – – – – – – – 1.6 –
% of GDP – – – – – – – – 0.9 –
% of Exports of G & S – – – – – – – – 2.2 –
Gross Portfolio and Other
% of GDP 21.5 22.6 16.0 13.2 26.1 25.2 25.4 26.1 28.0 –
% of Exports of G & S 55.0 55.5 43.4 37.0 69.6 63.4 62.8 63.8 70.4 –
International Investment Position – Belgium-Luxembourg
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
ASSETS
Total External Assets 195.2 251.9 334.3 442.7 433.4 519.6 653.6 704.6 794.3 –
% of GDP 260.1 250.6 252.6 270.0 278.4 294.4 301.6 313.7 355.5 –
Direct Investment Assets 4.0 5.3 8.3 13.4 15.1 22.6 33.3 39.4 50.6 –
% of GDP 5.3 5.3 6.3 8.2 9.7 12.8 15.4 17.6 22.7 –
Portfolio & Other Assets 191.2 246.6 326.0 429.4 418.3 497.0 620.3 665.2 743.7 –
% of GDP 254.7 245.3 246.4 261.9 268.7 281.6 286.2 296.1 332.9 –
Official 17.9 19.4 23.1 31.1 28.1 28.5 30.4 31.4 32.6 –
Banks 152.5 198.1 262.9 343.9 329.3 387.9 491.4 504.8 520.4 –
Non-bank 20.9 29.1 40.0 54.3 60.8 80.6 98.4 129.0 190.7 –
Memo Item:                    
Non-Equity Assets 191.6 247.0 326.4 430.9 421.2 498.8 627.5 676.1 764.6 –
% of GDP 255.2 245.7 246.6 262.8 270.5 282.6 289.6 301.0 342.2 –
Official 17.9 19.4 23.1 31.1 28.1 28.5 30.4 31.4 32.6 –
% of GDP 23.8 19.3 17.4 19.0 18.1 16.1 14.0 14.0 14.6 –
Non-Official 173.7 227.6 303.3 399.8 393.0 470.3 597.1 644.7 732.0 –
% of GDP 231.4 226.4 229.2 243.8 252.5 266.5 275.5 287.0 327.6 –
Equity Assets 3.7 4.9 7.9 11.9 12.2 20.8 26.1 28.5 29.7 –
% of GDP 4.9 4.9 6.0 7.2 7.9 11.8 12.0 12.7 13.3 –
LIABILITIES
Total External Liabilities 188.1 244.9 324.1 427.6 415.5 498.6 629.8 677.1 760.0 –
% of GDP 250.5 243.6 244.9 260.8 266.9 282.5 290.6 301.4 340.2 –
Direct Investment Liabilities 12.8 17.4 22.7 30.5 32.0 41.6 57.7 67.1 78.1 –
% of GDP 17.1 17.3 17.2 18.6 20.5 23.6 26.6 29.9 35.0 –
Portfolio & Other Liabilities 175.3 227.4 301.4 397.1 383.5 457.0 572.2 610.1 681.9 –
% of GDP 233.4 226.2 227.8 242.2 246.3 259.0 264.0 271.6 305.2 –
Official 10.7 13.4 16.9 20.9 21.4 24.4 29.6 32.0 29.1 –
Banks 160.8 208.8 276.3 361.5 340.9 398.5 493.3 493.7 493.7 –
Non-bank 3.7 5.3 8.2 14.7 21.2 34.1 49.3 84.4 159.1 –
Memo Item:                    
External Debt 179.4 232.7 307.0 402.9 383.3 448.7 558.2 578.4 596.2 –
% of GDP 238.9 231.4 232.0 245.8 246.2 254.2 257.6 257.5 266.8 –
Official 10.7 13.4 16.9 20.9 21.4 24.4 29.6 32.0 29.1 –
% of GDP 14.3 13.3 12.8 12.8 13.8 13.8 13.7 14.2 13.0 –
Non-Official 168.7 219.3 290.1 382.0 361.9 424.2 528.6 546.5 567.1 –
% of GDP 224.7 218.1 219.2 233.0 232.4 240.4 243.9 243.3 253.8 –
Equity Liabilities 8.7 12.2 17.1 24.6 32.2 49.9 71.6 98.7 163.8 –
% of GDP 11.6 12.1 12.9 15.0 20.7 28.3 33.0 43.9 73.3 –
Net Measures of External Liabilities – Belgium-Luxembourg
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
Net External Liabilities −7.2 −7.1 −10.2 −15.1 −17.9 −21.0 −23.8 −27.5 −34.3 –
% of GDP −9.5 −7.0 −7.7 −9.2 −11.5 −11.9 −11.0 −12.2 −15.3 –
% of Exports of G & S −12.8 −9.6 −11.5 −13.1 −15.6 −15.3 −14.6 −16.7 −21.8 –
Net Direct Investment
% of GDP 11.7 12.1 10.9 10.4 10.8 10.8 11.3 12.3 12.3 –
% of Exports of G & S 15.7 16.5 16.2 14.8 14.7 13.8 15.0 16.8 17.5 –
Net Portfolio and Other
% of GDP −21.3 −19.1 −18.6 −19.7 −22.3 −22.7 −22.2 −24.5 −27.7 –
% of Exports of G & S −28.5 −26.1 −27.7 −27.9 −30.3 −29.1 −29.7 −33.5 −39.3 –
Net Official −7.2 −6.0 −6.2 −10.2 −6.7 −4.1 −0.8 0.6 −3.4 –
% of GDP −9.5 −6.0 −4.7 −6.2 −4.3 −2.3 −0.4 0.3 −1.5 –
Net Banks 8.3 10.7 13.3 17.6 11.6 10.6 1.9 −11.2 −26.7 –
% of GDP 11.1 10.6 10.1 10.7 7.4 6.0 0.9 −5.0 −12.0 –
Net Non-bank −17.1 −23.9 −31.7 −39.6 −39.6 −46.5 −49.2 −44.5 −31.6 –
% of GDP −22.8 −23.7 −24.0 −24.2 −25.5 −26.4 −22.7 −19.8 −14.2 –
Memo Item:                    
Net External Debt −12.2 −14.3 −19.4 −27.9 −37.8 −50.1 −69.3 −97.7 −168.4 –
% of GDP −16.3 −14.2 −14.6 −17.0 −24.3 −28.4 −32.0 −43.5 −75.4 –
% of Exports of G & S −21.8 −19.5 −21.8 −24.2 −33.0 −36.4 −42.7 −59.3 −107.1 –
Net Official −7.2 −6.0 −6.2 −10.2 −6.7 −4.1 −0.8 0.6 −3.4 –
% of GDP −9.5 −6.0 −4.7 −6.2 −4.3 −2.3 −0.4 0.3 −1.5 –
Net Non-Official −5.0 −8.3 −13.2 −17.7 −31.2 −46.0 −68.4 −98.3 −164.9 –
% of GDP −6.7 −8.2 −9.9 −10.8 −20.0 −26.1 −31.6 −43.7 −73.8 –
Net Equity Liabilities 5.0 7.2 9.2 12.8 19.9 29.1 45.5 70.2 134.1 –
% of GDP 6.7 7.2 6.9 7.8 12.8 16.5 21.0 31.2 60.0 –
% of Exports of G & S 9.0 9.9 10.3 11.1 17.4 21.2 28.0 42.6 85.3 –
Gross Portfolio and Other
% of GDP 30.3 29.2 29.1 32.5 34.8 39.1 37.2 51.8 84.3 –
% of Exports of G & S 40.6 40.0 43.3 46.0 47.3 50.2 49.7 70.7 119.7 –
International Investment Position – Canada
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
ASSETS
Total External Assets 122.2 128.9 147.3 166.1 188.3 209.5 230.8 241.2 234.5 244.4
% of GDP 36.3 37.7 40.2 39.1 37.1 37.3 39.9 41.2 43.3 45.5
Direct Investment Assets 37.9 40.9 44.5 54.1 63.8 72.8 78.9 87.5 83.8 87.1
% of GDP 11.3 12.0 12.2 12.8 12.6 13.0 13.6 15.0 15.5 16.2
Portfolio & Other Assets 84.3 87.9 102.7 112.0 124.5 136.6 151.9 153.8 150.7 157.3
% of GDP 25.0 25.7 28.0 26.4 24.5 24.3 26.3 26.3 27.8 29.3
Official 16.7 17.2 18.2 23.3 32.5 34.2 37.4 36.9 32.2 33.0
Banks 38.9 42.1 48.5 47.7 42.6 44.0 47.2 41.8 43.2 37.0
Non-bank 28.6 28.6 36.0 41.0 49.4 58.4 67.3 75.0 75.3 87.3
Memo Item:                    
% of GDP 25.5 25.7 27.2 24.9 23.2 22.8 24.3 23.7 24.6 25.4
Official 16.7 17.2 18.2 23.3 32.5 34.2 37.4 36.9 32.2 33.0
% of GDP 5.0 5.0 5.0 5.5 6.4 6.1 6.5 6.3 5.9 6.1
Non-Official 69.0 70.7 81.3 82.5 85.2 93.9 103.4 101.5 101.0 103.5
% of GDP 20.5 20.7 22.2 19.4 16.8 16.7 17.9 17.3 18.6 19.3
Equity Assets 36.4 41.0 47.8 60.4 70.6 81.4 90.0 102.8 101.3 107.9
% of GDP 10.8 12.0 13.0 14.2 13.9 14.5 15.6 17.6 18.7 20.1
LIABILITIES
Total External Liabilities 236.6 252.2 283.0 320.4 361.1 401.2 441.1 471.5 465.2 480.8
% of GDP 70.3 73.7 77.3 75.5 71.1 71.4 76.3 80.6 85.9 89.6
Direct Investment Liabilities 65.1 64.7 69.6 82.0 96.3 106.5 113.3 117.7 109.3 110.2
% of GDP 19.3 18.9 19.0 19.3 19.0 19.0 19.6 20.1 20.2 20.5
Portfolio & Other Liabilities 171.5 187.6 213.4 238.4 264.8 294.6 327.7 353.9 355.9 370.6
% of GDP 51.0 54.8 58.3 56.2 52.1 52.4 56.7 60.5 65.7 69.0
Official 36.0 44.3 59.3 69.0 85.5 95.2 109.8 130.3 136.9 158.4
Banks 59.7 63.4 66.0 67.8 65.0 65.0 71.9 71.1 69.7 61.2
Non-bank 75.8 79.9 88.1 101.6 114.4 134.5 146.0 152.5 149.3 151.0
Memo Item:                    
External Debt 169.3 184.5 210.2 235.9 262.4 290.7 325.4 355.6 361.1 374.9
% of GDP 50.3 53.9 57.4 55.6 51.7 51.7 56.3 60.8 66.7 69.8
Official 36.0 44.3 59.3 69.0 85.5 95.2 109.8 130.3 136.9 158.4
% of GDP 10.7 13.0 16.2 16.3 16.8 16.9 19.0 22.3 25.3 29.5
Non-Official 133.3 140.1 150.9 166.9 176.9 195.6 215.6 225.4 224.1 216.5
% of GDP 39.6 41.0 41.2 39.3 34.8 34.8 37.3 38.5 41.4 40.3
Equity Liabilities 67.3 67.8 72.8 84.5 98.7 110.5 115.7 115.9 104.2 105.9
% of GDP 20.0 19.8 19.9 19.9 19.4 19.7 20.0 19.8 19.2 19.7
Net Measures of External Liabilities – Canada
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
Net External Liabilities 114.4 123.4 135.7 154.3 172.9 191.7 210.3 230.3 230.7 236.4
% of GDP 34.0 36.1 37.1 36.4 34.0 34.1 36.4 39.4 42.6 44.0
% of Exports of G & S 119.9 127.8 135.6 137.9 129.4 135.4 144.1 161.2 161.1 150.6
Net Direct Investment
% of GDP 8.1 6.9 6.8 6.6 6.4 6.0 6.0 5.2 4.7 4.3
% of Exports of G & S 28.5 24.6 25.0 24.9 24.3 23.8 23.6 21.1 17.8 14.7
Net Portfolio and Other
% of GDP 25.9 29.1 30.2 29.8 27.6 28.1 30.4 34.2 37.9 39.7
% of Exports of G & S 91.5 103.2 110.6 113.0 105.1 111.6 120.5 140.0 143.3 135.9
Net Official 19.3 27.1 41.0 45.7 53.0 61.0 72.4 93.3 104.7 125.5
% of GDP 5.7 7.9 11.2 10.8 10.4 10.8 12.5 16.0 19.3 23.4
Net Banks 20.8 21.3 17.6 20.0 22.4 21.0 24.7 29.3 26.5 24.2
% of GDP 6.2 6.2 4.8 4.7 4.4 3.7 4.3 5.0 4.9 4.5
Net Non-bank 47.2 51.3 52.1 60.6 65.0 76.0 78.7 77.5 73.9 63.7
% of GDP 14.0 15.0 14.2 14.3 12.8 13.5 13.6 13.2 13.6 11.9
Memo Item:                    
% of GDP 24.8 28.2 30.2 30.7 28.5 28.9 31.9 37.1 42.1 44.4
% of Exports of G & S 87.6 100.0 110.7 116.3 108.3 114.9 126.5 152.0 159.1 152.0
Net Official 19.3 27.1 41.0 45.7 53.0 61.0 72.4 93.3 104.7 125.5
% of GDP 5.7 7.9 11.2 10.8 10.4 10.8 12.5 16.0 19.3 23.4
Net Non-Official 64.3 69.4 69.7 84.4 91.7 101.6 112.2 123.9 123.1 113.0
% of GDP 19.1 20.3 19.0 19.9 18.1 18.1 19.4 21.2 22.7 21.0
Net Equity Liabilities 30.8 26.8 25.0 24.1 28.2 29.1 25.6 13.1 2.8 −2.1
% of GDP 9.2 7.8 6.8 5.7 5.5 5.2 4.4 2.2 0.5 −0.4
% of Exports of G & S 32.3 27.7 25.0 21.6 21.1 20.5 17.6 9.1 2.0 −1.3
Gross Portfolio and Other
% of GDP 39.4 42.5 45.0 44.9 43.8 44.6 48.5 53.4 57.7 62.1
% of Exports of G & S 139.0 150.7 164.9 170.4 166.4 177.0 192.2 218.4 218.4 212.6
International Investment Position – Denmark
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
ASSETS
Total External Assets 18.6 30.0 37.5 53.6 60.4 68.4 96.1 106.4 110.1 121.7
% of GDP 37.0 43.7 41.3 46.7 56.7 58.9 69.5 76.0 80.7 94.0
Direct Investment Assets – – – – – – – 14.2 15.6 15.7
% of GDP – – – – – – – 10.2 11.4 12.1
Portfolio & Other Assets – – – – – – – 92.2 94.6 106.0
% of GDP – – – – – – – 65.9 69.3 81.8
Official – – – – – – – 11.0 14.9 14.6
Banks – – – – – – – 49.2 46.4 57.9
Non-bank – – – – – – – 32.0 33.3 33.5
Memo Item:                    
% of GDP 34.0 40.0 35.1 41.0 49.6 49.2 59.3 63.9 67.4 78.6
Official 4.3 6.9 6.9 12.3 12.8 8.8 13.2 11.0 14.9 14.6
% of GDP 8.5 10.1 7.7 10.7 12.0 7.6 9.5 7.9 10.9 11.3
Non-Official 12.8 20.5 24.9 34.7 40.0 48.3 68.9 78.5 77.1 87.2
% of GDP 25.5 29.9 27.4 30.2 37.5 41.6 49.8 56.1 56.5 67.3
Equity Assets 1.5 2.5 5.6 6.6 7.6 11.3 14.1 16.9 18.1 19.9
% of GDP 2.9 3.7 6.2 5.8 7.1 9.8 10.2 12.1 13.3 15.3
LIABILITIES
Total External Liabilities 39.3 57.1 73.1 98.9 103.0 112.3 144.9 160.8 158.4 162.0
% of GDP 78.4 83.2 80.6 86.2 96.7 96.7 104.7 114.9 116.0 125.1
Direct Investment Liabilities – – – – – – – 14.7 14.9 15.4
% of GDP – – – – – – – 10.5 10.9 11.9
Portfolio & Other Liabilities – – – – – – – 146.1 143.5 146.6
% of GDP – – – – – – – 104.4 105.1 113.2
Official – – – – – – – 44.5 56.9 71.0
Banks – – – – – – – 47.7 36.8 27.0
Non-bank – – – – – – – 53.9 49.8 48.6
Memo Item:                    
External Debt 36.1 53.0 67.8 92.0 96.4 103.8 134.1 146.9 145.2 146.5
% of GDP 71.9 77.2 74.7 80.2 90.5 89.4 96.9 105.0 106.4 113.2
Official 10.3 14.4 22.0 29.9 27.6 26.6 35.4 44.5 56.9 71.0
% of GDP 20.6 21.0 24.2 26.0 26.0 22.9 25.6 31.8 41.7 54.9
Non-Official 25.7 38.6 45.8 62.2 68.8 77.2 98.7 102.5 88.3 75.5
% of GDP 51.3 56.2 50.5 54.2 64.6 66.5 71.3 73.2 64.7 58.3
Equity Liabilities 3.3 4.1 5.4 6.9 6.6 8.5 10.9 13.9 13.2 15.5
% of GDP 6.5 6.0 5.9 6.0 6.2 7.3 7.8 9.9 9.7 11.9
Net Measures of External Liabilities – Denmark
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
Net External Liabilities 20.8 27.1 35.7 45.3 42.6 43.9 48.8 54.4 48.3 40.3
% of GDP 41.4 39.5 39.3 39.4 40.0 37.8 35.3 38.9 35.4 31.1
% of Exports of G & S 112.8 107.7 122.7 125.4 122.6 109.5 99.4 104.1 95.4 84.0
Net Direct Investment
% of GDP – – – – – – – 0.4 −0.5 −0.3
% of Exports of G & S – – – – – – – 1.0 −1.3 −0.7
Net Portfolio and Other
% of GDP – – – – – – – 38.6 35.9 31.4
% of Exports of G & S – – – – – – – 103.2 96.7 84.6
Net Official – – – – – – – 33.5 42.0 56.4
% of GDP – – – – – – – 23.9 30.8 43.6
Net Banks – – – – – – – −1.5 −9.6 −30.9
% of GDP – – – – – – – −1.1 −7.0 −23.8
Net Non-bank – – – – – – – 22.0 16.5 15.1
% of GDP – – – – – – – 15.7 12.1 11.7
Memo Item:                    
% of GDP 37.8 37.2 39.6 39.2 41.0 40.2 37.6 41.1 39.0 34.5
% of Exports of G & S 103.0 101.4 123.5 124.7 125.5 116.5 106.0 110.0 105.1 93.1
Net Official 6.1 7.5 15.0 17.6 14.8 17.8 22.2 33.5 42.0 56.4
% of GDP 12.1 10.9 16.5 15.3 13.9 15.4 16.1 23.9 30.8 43.6
Net Non-Official 12.9 18.0 20.9 27.4 28.8 28.9 29.8 24.0 11.2 −11.7
% of GDP 25.7 26.3 23.1 23.9 27.0 24.9 21.5 17.2 8.2 −9.0
Net Equity Liabilities 1.8 1.6 −0.3 0.3 −1.0 −2.8 −3.2 −3.0 −4.9 −4.4
% of GDP 3.6 2.3 −0.3 0.2 −0.9 −2.4 −2.3 −2.2 −3.6 −3.4
% of Exports of G & S 9.7 6.3 −0.9 0.7 −2.8 −7.1 −6.5 −5.8 −9.8 −9.1
Gross Portfolio and Other
% of GDP – – – – – – – 70.3 78.2 92.4
% of Exports of G & S – – – – – – – 188.2 210.9 249.1
International Investment Position – Finland
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
ASSETS
Total External Assets 15.1 18.7 22.3 31.4 33.4 36.7 46.7 47.0 43.5 45.2
% of GDP 31.9 30.3 30.0 32.0 32.1 30.6 33.0 39.5 47.9 55.5
Direct Investment Assets 1.3 1.8 2.4 4.5 5.8 8.2 12.1 13.0 11.8 12.6
% of GDP 2.8 3.0 3.2 4.6 5.6 6.8 8.5 10.9 13.0 15.4
Portfolio & Other Assets 13.8 16.9 19.9 26.9 27.6 28.5 34.7 34.0 31.7 32.6
% of GDP 29.2 27.3 26.7 27.4 26.5 23.8 24.4 28.6 35.0 40.0
Official 3.8 5.0 3.9 8.6 8.4 7.1 12.0 9.8 7.5 7.9
Banks 7.0 7.6 11.2 12.3 12.9 14.7 13.5 14.3 13.0 13.7
Non-bank 3.0 4.3 4.8 6.0 6.3 6.8 9.2 9.9 11.1 11.0
Memo Item:                    
% of GDP 29.6 27.7 27.2 28.0 27.8 25.7 26.7 31.4 37.9 44.6
Official 3.8 5.0 3.9 8.6 8.4 7.1 12.0 9.8 7.5 7.9
% of GDP 8.0 8.1 5.3 8.7 8.1 5.9 8.5 8.3 8.3 9.7
Non-Official 10.2 12.1 16.4 18.9 20.5 23.8 25.9 27.5 26.8 28.5
% of GDP 21.6 19.6 21.9 19.3 19.7 19.9 18.2 23.1 29.5 34.9
Equity Assets 1.1 1.6 2.0 3.9 4.5 5.8 8.8 9.6 9.1 8.8
% of GDP 2.3 2.6 2.7 4.0 4.3 4.9 6.2 8.1 10.1 10.9
LIABILITIES
Total External Liabilities 24.6 29.1 34.5 49.0 53.5 63.4 85.6 90.5 89.6 93.1
% of GDP 52.1 47.0 46.3 50.0 51.3 52.9 60.4 76.2 98.8 114.2
Direct Investment Liabilities 1.0 1.3 1.7 2.6 3.0 4.0 5.1 4.2 3.7 3.9
% of GDP 2.2 2.2 2.3 2.7 2.9 3.3 3.6 3.6 4.0 4.8
Portfolio & Other Liabilities 23.6 27.7 32.9 46.4 50.4 59.4 80.5 86.2 86.0 89.2
% of GDP 49.9 44.8 44.1 47.4 48.4 49.5 56.8 72.6 94.8 109.4
Official 4.6 5.6 6.4 8.1 7.3 6.6 9.1 14.4 24.0 31.7
Banks 9.4 10.7 14.4 22.9 26.7 31.8 44.7 41.1 29.4 22.6
Non-bank 9.5 11.5 12.1 15.4 16.5 21.1 26.7 30.7 32.6 34.8
Memo Item:                    
External Debt 23.6 27.8 32.2 45.4 49.3 57.7 80.0 86.1 85.8 84.8
% of GDP 50.0 45.0 43.2 46.3 47.3 48.1 56.4 72.5 94.6 104.0
Official 4.6 5.6 6.4 8.1 7.3 6.6 9.1 14.4 24.0 31.7
% of GDP 9.7 9.1 8.5 8.3 7.0 5.5 6.4 12.1 26.5 38.9
Non-Official 19.0 22.2 25.9 37.3 42.0 51.2 70.9 71.7 61.8 53.1
% of GDP 40.3 35.9 34.7 38.0 40.3 42.7 50.0 60.3 68.2 65.1
Equity Liabilities 1.0 1.3 2.3 3.7 4.2 5.7 5.7 4.4 3.8 8.3
% of GDP 2.1 2.0 3.1 3.7 4.0 4.7 4.0 3.7 4.2 10.2
Net Measures of External Liabilities – Finland
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
Net External Liabilities 9.5 10.3 12.2 17.6 20.1 26.7 38.9 43.5 46.2 47.9
% of GDP 20.2 16.7 16.4 18.0 19.3 22.2 27.4 36.6 50.9 58.7
% of Exports of G & S 66.1 57.0 61.1 69.5 76.9 92.8 119.0 164.5 188.8 173.2
Net Direct Investment
% of GDP −0.6 −0.8 −1.0 −2.0 −2.7 −3.5 −4.9 −7.4 −8.9 −10.6
% of Exports of G & S −1.8 −2.8 −3.7 −7.5 −10.6 −14.7 −21.3 −33.0 −33.1 −31.4
Net Portfolio and Other
% of GDP 20.7 17.5 17.3 19.9 21.9 25.8 32.3 44.0 59.8 69.4
% of Exports of G & S 67.9 59.8 64.8 77.1 87.5 107.5 140.2 197.6 221.8 204.5
Net Official 0.8 0.6 2.4 −0.4 −1.2 −0.5 −2.9 4.6 16.5 23.8
% of GDP 1.8 1.0 3.2 −0.4 −1.1 −0.4 −2.1 3.8 18.2 29.2
Net Banks 2.5 3.1 3.2 10.6 13.8 17.1 31.3 26.8 16.3 8.9
% of GDP 5.2 5.0 4.3 10.8 13.2 14.2 22.1 22.6 18.0 11.0
Net Non-bank 6.5 7.2 7.3 9.4 10.2 14.3 17.5 20.8 21.5 23.8
% of GDP 13.8 11.6 9.8 9.5 9.8 11.9 12.3 17.5 23.7 29.2
Memo Item:                    
% of GDP 20.5 17.3 16.0 18.3 19.5 22.4 29.6 41.0 56.8 59.4
% of Exports of G & S 67.0 58.9 59.9 70.6 78.1 93.4 128.6 184.3 210.5 175.1
Net Official 0.8 0.6 2.4 −0.4 −1.2 −0.5 −2.9 4.6 16.5 23.8
% of GDP 1.8 1.0 3.2 −0.4 −1.1 −0.4 −2.1 3.8 18.2 29.2
Net Non-Official 8.8 10.1 9.5 18.3 21.5 27.4 45.0 44.2 35.0 24.6
% of GDP 18.7 16.3 12.8 18.7 20.7 22.8 31.7 37.2 38.6 30.2
Net Equity Liabilities −0.1 −0.3 0.3 −0.3 −0.3 −0.2 −3.1 −5.2 −5.3 −0.5
% of GDP −0.3 −0.6 0.3 −0.3 −0.3 −0.1 −2.2 −4.4 −5.9 −0.7
% of Exports of G & S −0.9 −1.9 1.3 −1.0 −1.2 −0.6 −9.6 −19.8 −21.8 −2.0
Gross Portfolio and Other
% of GDP 35.1 32.6 29.1 34.8 36.0 37.3 47.3 60.6 80.4 92.6
% of Exports of G & S 114.9 111.1 108.7 134.6 144.0 155.7 205.1 272.1 298.2 273.0
International Investment Position – France
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
ASSETS
Total External Assets 349.1 363.3 385.7 442.7 489.4 581.2 738.3 755.3 828.0 881.4
% of GDP 76.8 58.4 49.1 44.3 51.7 54.6 58.2 57.8 65.1 73.2
Direct Investment Assets 24.6 26.9 32.3 41.5 56.0 75.4 110.1 129.9 151.3 160.5
% of GDP 5.4 4.3 4.1 4.2 5.9 7.1 8.7 9.9 11.9 13.3
Portfolio & Other Assets 324.4 336.5 353.5 401.2 433.4 505.8 628.2 625.4 676.8 720.8
% of GDP 71.3 54.1 45.0 40.1 45.8 47.5 49.5 47.9 53.2 59.9
Official 78.9 83.3 87.4 90.5 90.5 94.1 109.2 108.2 100.1 95.5
Banks 135.8 161.6 195.2 267.3 276.9 336.1 424.3 421.5 477.8 534.1
Non-bank 109.7 91.6 70.8 43.4 66.0 75.6 94.7 95.7 98.9 91.2
Memo Item:                    
% of GDP 62.9 48.1 40.3 36.5 42.3 44.7 47.7 46.0 51.7 58.4
Official 78.9 83.3 87.4 90.5 90.5 94.1 109.2 108.2 100.1 95.5
% of GDP 17.3 13.4 11.1 9.1 9.6 8.8 8.6 8.3 7.9 7.9
Non-Official 206.9 215.9 228.7 274.0 309.9 381.1 495.5 492.9 557.2 607.0
% of GDP 45.5 34.7 29.1 27.4 32.7 35.8 39.1 37.7 43.8 50.4
Equity Assets 63.3 64.2 69.6 78.1 89.0 106.0 133.6 154.2 170.7 178.9
% of GDP 13.9 10.3 8.9 7.8 9.4 10.0 10.5 11.8 13.4 14.9
LIABILITIES
Total External Liabilities 313.9 327.9 347.1 407.6 458.2 557.3 760.7 823.7 873.7 889.6
% of GDP 69.0 52.7 44.2 40.8 48.4 52.4 60.0 63.1 68.7 73.9
Direct Investment Liabilities 30.8 33.4 36.6 41.8 50.3 60.6 86.5 97.5 111.7 125.2
% of GDP 6.8 5.4 4.7 4.2 5.3 5.7 6.8 7.5 8.8 10.4
Portfolio & Other Liabilities 283.1 294.5 310.4 365.8 407.9 496.7 674.1 726.2 762.0 764.4
% of GDP 62.3 47.4 39.5 36.6 43.1 46.7 53.2 55.6 60.0 63.5
Official 25.0 23.9 21.4 30.8 26.4 39.9 82.8 101.2 138.6 140.6
Banks 161.9 184.7 215.8 283.9 303.4 372.2 495.3 507.5 504.9 502.3
Non-bank 96.3 85.9 73.2 51.2 78.1 84.6 96.0 117.5 118.5 121.5
Memo Item:                    
External Debt 251.6 261.5 274.1 327.3 369.7 453.5 631.4 669.5 705.9 701.2
% of GDP 55.3 42.1 34.9 32.8 39.1 42.6 49.8 51.3 55.5 58.3
Official 25.0 23.9 21.4 30.8 26.4 39.9 82.8 101.2 138.6 140.6
% of GDP 5.5 3.9 2.7 3.1 2.8 3.7 6.5 7.8 10.9 11.7
Non-Official 226.6 237.6 252.6 296.6 343.4 413.7 548.5 568.3 567.2 560.5
% of GDP 49.8 38.2 32.2 29.7 36.3 38.9 43.2 43.5 44.6 46.6
Equity Liabilities 62.3 66.4 73.0 80.2 88.4 103.7 129.3 154.2 167.9 188.4
% of GDP 13.7 10.7 9.3 8.0 9.3 9.7 10.2 11.8 13.2 15.7
Net Measures of External Liabilities – France
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
Net External Liabilities −35.2 −35.5 −38.7 −35.1 −31.2 −23.9 22.3 68.9 45.7 8.2
% of GDP −7.7 −5.7 −4.9 −3.5 −3.3 −2.2 1.8 5.2 3.6 0.7
% of Exports of G & S −32.1 −23.8 −23.2 −17.0 −15.5 −9.8 7.8 23.1 15.5 3.0
Net Direct Investment
% of GDP 1.4 1.0 0.6 0.0 −0.6 −1.4 −1.9 −2.5 −3.1 −2.9
% of Exports of G & S 5.6 4.4 2.6 0.1 −2.8 −6.1 −8.2 −11.0 −13.4 −13.0
Net Portfolio and Other
% of GDP −9.1 −6.7 −5.5 −3.5 −2.7 −0.9 3.6 7.7 6.7 3.6
% of Exports of G & S −37.6 −28.2 −25.9 −17.1 −12.7 −3.7 16.1 34.1 29.0 16.0
Net Official −53.9 −59.4 −66.0 −59.7 −64.1 −54.2 −26.4 −6.9 38.6 45.1
% of GDP −11.9 −9.6 −8.4 −6.0 −6.8 −5.1 −2.1 −0.5 3.0 3.7
Net Banks 26.0 23.1 20.6 16.6 26.5 36.1 71.0 86.0 27.1 −31.8
% of GDP 5.7 3.7 2.6 1.7 2.8 3.4 5.6 6.6 2.1 −2.6
Net Non-bank −13.5 −5.7 2.4 7.8 12.1 9.0 1.3 21.8 19.6 30.3
% of GDP −3.0 −0.9 0.3 0.8 1.3 0.8 0.1 1.7 1.5 2.5
Memo Item:                    
% of GDP −7.5 −6.1 −5.4 −3.7 −3.2 −2.0 2.1 5.2 3.8 −0.1
% of Exports of G & S −31.1 −25.3 −25.3 −18.0 −15.2 −8.9 9.3 23.1 16.5 −0.5
Net Official −53.9 −59.4 −66.0 −59.7 −64.1 −54.2 −26.4 −6.9 38.6 45.1
% of GDP −11.9 −9.6 −8.4 −6.0 −6.8 −5.1 −2.1 −0.5 3.0 3.7
Net Non-Official 19.7 21.7 23.9 22.5 33.4 32.5 53.0 75.3 10.0 −46.5
% of GDP 4.3 3.5 3.0 2.3 3.5 3.1 4.2 5.8 0.8 −3.9
Net Equity Liabilities −1.0 2.2 3.4 2.1 −0.6 −2.2 −4.3 0.0 −2.9 9.6
% of GDP −0.2 0.4 0.4 0.2 −0.1 −0.2 −0.3 0.0 −0.2 0.8
% of Exports of G & S −0.9 1.5 2.0 1.0 −0.3 −0.9 −1.5 0.0 −1.0 3.5
Gross Portfolio and Other
% of GDP 32.4 21.4 14.7 9.9 13.8 15.1 19.7 23.3 22.4 21.8
% of Exports of G & S 134.1 89.4 69.3 47.8 65.0 65.9 87.3 102.9 96.5 96.5
International Investment Position – Germany
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
ASSETS
Total External Assets 242.9 341.8 501.7 665.7 689.5 863.6 1,100.6 1,146.9 1,176.8 1,276.2
% of GDP 43.7 46.1 50.6 52.9 58.6 65.9 67.8 66.0 68.0 77.8
Direct Investment Assets 40.0 53.0 70.0 89.1 93.9 114.8 148.4 166.7 170.2 173.2
% of GDP 7.2 7.2 7.1 7.1 8.0 8.8 9.1 9.6 9.8 10.6
Portfolio & Other Assets 202.9 288.8 431.7 576.5 595.6 748.8 952.2 980.2 1,006.6 1,103.0
% of GDP 36.5 39.0 43.5 45.8 50.6 57.2 58.7 56.4 58.1 67.2
Official 46.5 61.8 84.3 124.2 98.7 109.0 134.7 133.8 162.3 147.6
Banks 63.7 96.3 157.1 205.5 206.3 269.1 367.8 374.9 360.0 437.6
Non-bank 92.7 130.6 190.3 246.9 290.5 370.6 449.7 471.5 484.2 517.8
Memo Item:
% of GDP 37.3 39.5 43.5 46.0 49.7 56.0 58.1 55.3 54.9 63.0
Official 46.5 61.8 84.3 124.2 98.7 109.0 134.7 133.8 162.3 147.6
% of GDP 8.4 8.3 8.5 9.9 8.4 8.3 8.3 7.7 9.4 9.0
Non-Official 160.9 230.5 347.2 455.3 486.3 625.1 808.9 826.6 788.2 886.1
% of GDP 28.9 31.1 35.0 36.2 41.3 47.7 49.8 47.6 45.5 54.0
Equity Assets 35.5 49.4 70.2 86.2 104.4 129.5 157.0 186.5 226.3 242.5
% of GDP 6.4 6.7 7.1 6.8 8.9 9.9 9.7 10.7 13.1 14.8
LIABILITIES
Total External Liabilities 200.6 288.6 404.8 496.5 479.8 593.9 743.9 818.8 890.7 1,047.2
% of GDP 36.1 39.0 40.8 39.4 40.7 45.3 45.8 47.1 51.5 63.8
Direct Investment Liabilities 27.0 36.9 49.3 64.7 61.5 83.8 113.8 129.8 126.2 116.2
% of GDP 4.8 5.0 5.0 5.1 5.2 6.4 7.0 7.5 7.3 7.1
Portfolio & Other Liabilities 173.7 251.6 355.5 431.7 418.2 510.0 630.0 689.0 764.6 931.0
% of GDP 31.2 34.0 35.8 34.3 35.5 38.9 38.8 39.6 44.2 56.8
Official 38.4 58.2 95.4 127.0 120.8 152.4 182.8 203.7 228.7 316.4
Banks 63.8 85.3 118.8 153.9 143.8 172.6 240.9 258.5 321.2 378.4
Non-bank 71.6 108.1 141.2 150.8 153.6 185.0 206.3 226.7 214.7 236.2
Memo Item:
% of GDP 30.5 31.4 32.4 33.2 33.3 35.9 37.6 38.7 43.9 55.6
Official 38.4 58.2 95.4 127.0 120.8 152.4 182.8 203.7 228.7 316.4
% of GDP 6.9 7.9 9.6 10.1 10.3 11.6 11.3 11.7 13.2 19.3
Non-Official 131.4 174.1 226.1 290.4 271.8 317.3 427.4 469.5 531.5 596.1
% of GDP 23.6 23.5 22.8 23.1 23.1 24.2 26.3 27.0 30.7 36.3
Equity Liabilities 30.9 56.3 83.2 79.0 87.2 124.1 133.7 145.6 130.6 134.6
% of GDP 5.5 7.6 8.4 6.3 7.4 9.5 8.2 8.4 7.5 8.2
Net Measures of External Liabilities – Germany
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
Net External Liabilities −42.3 −53.3 −96.9 −169.2 −209.8 −269.7 −356.8 −328.1 −286.0 −229.0
% of GDP −7.6 −7.2 −9.8 −13.4 −17.8 −20.6 −22.0 −18.9 −16.5 −14.0
% of Exports of G & S −22.7 −20.3 −29.5 −42.0 −54.3 −58.1 −60.6 −49.0 −43.2 −38.4
Net Direct Investment
% of GDP −2.3 −2.2 −2.1 −1.9 −2.8 −2.4 −2.1 −2.1 −2.5 −3.5
% of Exports of G & S −7.0 −6.1 −6.3 −6.1 −8.4 −6.7 −5.9 −5.5 −6.6 −9.6
Net Portfolio and Other
% of GDP −5.3 −5.0 −7.7 −11.5 −15.1 −18.2 −19.8 −16.8 −14.0 −10.5
% of Exports of G & S −15.7 −14.2 −23.2 −35.9 −45.9 −51.4 −54.7 −43.5 −36.5 28.8
Net Official −8.1 −3.6 11.1 2.9 22.0 43.4 48.1 69.9 66.4 168.8
% of GDP −1.5 −0.5 1.1 0.2 1.9 3.3 3.0 4.0 3.8 10.3
Net Banks 0.0 −11.0 −38.3 −51.6 −62.5 −96.5 −126.9 −116.4 −38.8 −59.2
% of GDP 0.0 −1.5 −3.9 −4.1 −5.3 −7.4 −7.8 −6.7 −2.2 −3.6
Net Non-bank −21.1 −22.5 −49.1 −96.1 −136.9 −185.6 −243.4 −244.8 −269.5 −281.6
% of GDP −3.8 −3.0 −4.9 −7.6 −11.6 −14.2 −15.0 −14.1 −15.6 −17.2
Memo Item:
% of GDP −6.8 −8.1 −11.1 −12.9 −16.3 −20.2 −20.5 −16.5 −11.0 −7.4
% of Exports of G & S −20.2 −22.9 −33.5 −40.2 −49.8 −56.9 −56.6 −42.9 −28.7 −20.3
Official −8.1 −3.6 11.1 2.9 22.0 43.4 48.1 69.9 66.4 168.8
% of GDP −1.5 −0.5 1.1 0.2 1.9 3.3 3.0 4.0 3.8 10.3
Non-Official −29.5 −56.5 −121.1 −164.9 −214.5 −307.7 −381.5 −357.1 −256.7 −289.9
% of GDP −5.3 −7.6 −12.2 −13.1 −18.2 −23.5 −23.5 −20.5 −14.8 −17.7
Net Equity Liabilities −4.7 6.8 13.0 −7.1 −17.3 −5.4 −23.4 −41.0 −95.7 −107.9
% of GDP −0.8 0.9 1.3 −0.6 −1.5 −0.4 −1.4 −2.4 −5.5 −6.6
% of Exports of G & S −2.5 2.6 4.0 −1.8 −4.5 −1.2 −4.0 −6.1 −14.4 −18.1
Gross Portfolio and Other
% of GDP 19.8 22.5 23.9 22.1 23.3 25.8 24.0 24.8 25.6 33.7
% of Exports of G & S 59.1 63.5 72.1 68.9 71.0 72.7 66.1 64.3 66.9 92.6
International Investment Position – Greece
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
ASSETS
Total External Assets – – – – – – – – – –
% of GDP – – – – – – – – – –
Direct Investment Assets – – – – – – – – – –
% of GDP – – – – – – – – – –
Portfolio & Other Assets – – – – – – – – – –
% of GDP – – – – – – – – – –
Official – – – – – – – – – –
Banks – – – – – – – – – –
Non-bank – – – – – – – – – –
Memo Item:
% of GDP 25.1 30.7 26.6 25.4 28.2 29.9 28.6 29.2 30.6 –
Official 1.1 1.7 2.4 3.7 4.5 4.1 4.2 6.0 5.5 –
% of GDP 3.7 5.5 5.9 7.5 8.9 7.4 6.3 8.2 8.0 –
Non-Official 6.3 7.9 8.2 8.9 9.9 12.6 14.9 15.3 15.6 –
% of GDP 21.4 25.1 20.7 17.9 19.3 22.6 22.3 21.0 22.6 –
Equity Assets – – – – – – – – – –
% of GDP – – – – – – – – – –
LIABILITIES
Total External Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
Direct Investment Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
Portfolio & Other Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
Official – – – – – – – – – –
Banks – – – – – – – – – –
Non-bank – – – – – – – – – –
Memo Item:
% of GDP 70.2 81.4 70.2 66.6 65.6 66.9 61.9 60.7 70.7 –
Official 4.9 7.1 8.9 10.8 10.5 11.5 14.2 16.1 15.5 –
% of GDP 16.6 22.8 22.3 21.7 20.5 20.6 21.3 22.1 22.3 –
Non-Official 15.9 18.3 19.0 22.4 23.0 25.9 27.2 28.2 33.4 –
% of GDP 53.6 58.6 47.9 44.9 45.1 46.3 40.7 38.6 48.3 –
Equity Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
Net Measures of External Liabilities – Greece
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
Net External Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
% of Exports of G & S – – – – – – – – – –
Net Direct Investment
% of GDP – – – – – – – – – –
% of Exports of G & S – – – – – – – – – –
Net Portfolio and Other
% of GDP – – – – – – – – – –
% of Exports of G & S – – – – – – – – – –
Net Official – – – – – – – – – –
% of GDP – – – – – – – – – –
Net Banks – – – – – – – – – –
% of GDP – – – – – – – – – –
Net Non-bank – – – – – – – – – –
% of GDP – – – – – – – – – –
Memo Item:
% of GDP 45.1 50.7 43.6 41.2 37.3 36.9 33.3 31.5 40.1 –
% of Exports of G & S 208.1 239.5 195.0 168.1 157.0 161.4 154.1 138.6 173.1 –
Net Official 3.8 5.4 6.5 7.1 5.9 7.4 10.0 10.1 9.9 –
% of GDP 12.9 17.2 16.4 14.2 11.6 13.2 14.9 13.9 14.3 –
Net Non-Official 9.5 10.5 10.8 13.4 13.2 13.3 12.3 12.8 17.8 –
% of GDP 32.2 33.5 27.2 27.0 25.8 23.7 18.4 17.6 25.8 –
Net Equity Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
% of Exports of G & S – – – – – – – – – –
Gross Portfolio and Other
% of GDP – – – – – – – – – –
% of Exports of G & S – – – – – – – – – –
International Investment Position – Iceland
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
ASSETS
Total External Assets – – – – – – – – – –
% of GDP – – – – – – – – – –
Direct Investment Assets – – – – – – – – – –
% of GDP – – – – – – – – – –
Portfolio & Other Assets – – – – – – – – – –
% of GDP – – – – – – – – – –
Official – – – – – – – – – –
Banks – – – – – – – – – –
Non-bank – – – – – – – – – –
Memo Item:
% of GDP 13.0 11.8 11.9 9.2 10.2 11.6 11.3 10.8 12.0 12.2
Official 0.1 0.2 0.3 0.3 0.3 0.3 0.4 0.5 0.5 0.4
% of GDP 6.0 7.3 7.9 5.4 5.4 6.8 6.9 6.8 8.4 8.0
Non-Official 0.2 0.1 0.2 0.2 0.3 0.2 0.3 0.3 0.2 0.2
% of GDP 7.0 4.4 4.0 3.8 4.8 4.8 4.4 3.9 3.7 4.3
Equity Assets – – – – – – – – – –
% of GDP – – – – – – – – – –
LIABILITIES
Total External Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
Direct Investment Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
Portfolio & Other Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
Official – – – – – – – – – –
Banks – – – – – – – – – –
Non-bank – – – – – – – – – –
Memo Item:
% of GDP 73.5 68.6 57.3 48.9 54.6 62.3 56.0 56.4 66.3 72.9
Official 0.6 0.7 0.8 0.9 1.0 1.1 1.2 1.3 1.5 1.5
% of GDP 25.6 24.2 20.6 16.0 17.3 21.1 18.5 19.2 24.9 28.3
Non-Official 1.0 1.3 1.5 1.9 2.1 2.1 2.4 2.6 2.5 2.4
% of GDP 47.9 44.4 36.7 32.9 37.3 41.2 37.5 37.2 41.5 44.6
Equity Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
Net Measures of External Liabilities – Iceland
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
Net External Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
% of Exports of G & S – – – – – – – – – –
Net Direct Investment
% of GDP – – – – – – – – – –
% of Exports of G & S – – – – – – – – – –
Net Portfolio and Other
% of GDP – – – – – – – – – –
% of Exports of G & S – – – – – – – – – –
Net Official – – – – – – – – – –
% of GDP – – – – – – – – – –
Net Banks – – – – – – – – – –
% of GDP – – – – – – – – – –
Net Non-bank – – – – – – – – – –
% of GDP – – – – – – – – – –
Memo Item:
% of GDP 60.5 56.9 45.4 39.7 44.4 50.7 44.7 45.7 54.3 60.6
% of Exports of G & S 155.4 137.8 114.8 113.1 135.9 144.5 125.4 137.9 168.5 175.5
Net Official 0.4 0.5 0.5 0.6 0.7 0.7 0.7 0.9 1.0 1.1
% of GDP 19.6 16.9 12.7 10.6 11.9 14.3 11.7 12.4 16.5 20.3
Net Non-Official 0.9 1.1 1.3 1.7 1.8 1.8 2.1 2.3 2.3 2.2
% of GDP 40.9 40.0 32.7 29.1 32.5 36.4 33.1 33.3 37.8 40.3
Net Equity Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
% of Exports of G & S – – – – – – – – – –
Gross Portfolio and Other
% of GDP – – – – – – – – – –
% of Exports of G & S – – – – – – – – – –
International Investment Position – Ireland
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
ASSETS
Total External Assets – – – – – – – – – –
% of GDP – – – – – – – – – –
Direct Investment Assets – – – – – – – – – –
% of GDP – – – – – – – – – –
Portfolio & Other Assets – – – – – – – – – –
% of GDP – – – – – – – – – –
Official – – – – – – – – – –
Banks – – – – – – – – – –
Non-bank – – – – – – – – – –
Memo Item:
% of GDP 29.7 27.9 25.8 31.0 33.9 36.1 40.3 40.5 47.0 64.6
Official 2.1 2.8 3.1 4.7 4.8 3.9 5.1 5.7 3.4 6.0
% of GDP 12.8 12.8 11.3 13.5 14.1 10.1 10.8 11.7 7.2 13.8
Non-Official 2.7 3.3 4.0 6.1 6.7 10.1 14.0 14.0 19.1 22.3
% of GDP 16.9 15.1 14.5 17.5 19.8 26.0 29.5 28.8 39.8 50.8
Equity Assets – – – – – – – – – –
% of GDP – – – – – – – – – –
LIABILITIES
Total External Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
Direct Investment Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
Portfolio & Other Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
Official – – – – – – – – – –
Banks – – – – – – – – – –
Non-bank – – – – – – – – – –
Memo Item:
% of GDP 92.7 87.7 96.8 98.5 99.9 93.2 97.3 96.2 96.0 108.7
Official 7.9 10.5 15.2 19.2 18.3 20.0 22.6 23.3 22.6 23.0
% of GDP 48.3 47.4 55.7 54.8 54.2 51.4 47.4 47.9 47.2 52.5
Non-Official 7.2 8.9 11.2 15.3 15.4 16.3 23.8 23.5 23.4 24.6
% of GDP 44.4 40.2 41.1 43.7 45.7 41.8 49.9 48.3 48.8 56.2
Equity Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
Net Measures of External Liabilities – Ireland
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
Net External Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
% of Exports of G & S – – – – – – – – – –
Net Direct Investment
% of GDP – – – – – – – – – –
% of Exports of G & S – – – – – – – – – –
Net Portfolio and Other
% of GDP – – – – – – – – – –
% of Exports of G & S – – – – – – – – – –
Net Official – – – – – – – – – –
% of GDP – – – – – – – – – –
Net Banks – – – – – – – – – –
% of GDP – – – – – – – – – –
Net Non-bank – – – – – – – – – –
% of GDP – – – – – – – – – –
Memo Item:
% of GDP 63.0 59.8 70.9 67.5 65.9 57.1 57.1 55.7 49.0 44.1
% of Exports of G & S 105.8 99.0 133.4 119.0 108.6 88.4 94.9 91.5 77.3 70.3
Net Official 5.8 7.7 12.1 14.5 13.6 16.1 17.4 17.6 19.2 17.0
% of GDP 35.5 34.7 44.4 41.3 40.1 41.3 36.6 36.1 40.0 38.8
Net Non-Official 4.5 5.6 7.3 9.2 8.7 6.1 9.7 9.5 4.3 2.3
% of GDP 27.5 25.1 26.6 26.2 25.8 15.8 20.5 19.5 9.0 5.4
Net Equity Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
% of Exports of G & S – – – – – – – – – –
Gross Portfolio and Other
% of GDP – – – – – – – – – –
% of Exports of G & S – – – – – – – – – –
International Investment Position – Italy
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
ASSETS
Total External Assets 125.9 143.8 182.7 230.3 238.5 296.8 380.7 424.3 397.9 437.3
% of GDP 33.6 29.8 27.6 27.4 28.5 31.6 32.8 34.2 38.8 48.0
Direct Investment Assets 14.4 18.0 27.8 34.7 40.4 46.5 60.2 70.4 70.4 81.1
% of GDP 3.8 3.7 4.2 4.1 4.8 5.0 5.2 5.7 6.9 8.9
Portfolio & Other Assets 111.5 125.7 154.8 195.6 198.1 250.2 320.5 353.9 327.6 356.3
% of GDP 29.7 26.0 23.4 23.2 23.7 26.6 27.6 28.6 32.0 39.1
Official 45.0 42.7 50.7 70.9 69.5 82.4 102.7 94.4 62.7 61.8
Banks 37.5 48.4 57.8 63.7 70.1 90.1 102.4 108.4 104.9 113.5
Non-bank 28.9 34.7 46.3 61.0 58.5 77.8 115.4 151.1 160.0 181.0
Memo Item:
% of GDP – – – – 23.6 25.6 28.0 29.4 34.6 –
Official – – – – 69.5 82.4 102.7 94.4 62.7 –
% of GDP – – – – 8.3 8.8 8.8 7.6 6.1 –
Non-Official – – – – 128.0 158.5 222.0 270.3 291.9 –
% of GDP – – – – 15.3 16.9 19.1 21.8 28.5 –
Equity Assets – – – – 41.0 55.9 56.0 59.6 43.3 –
% of GDP – – – – 4.9 5.9 4.8 4.8 4.2 –
LIABILITIES
Total External Liabilities 120.8 152.3 192.9 240.5 258.6 343.6 466.4 531.3 517.0 525.1
% of GDP 32.2 31.5 29.1 28.6 30.9 36.6 40.2 42.9 50.5 57.7
Direct Investment Liabilities 12.3 19.9 26.9 33.0 38.5 50.9 60.0 61.6 50.0 53.9
% of GDP 3.3 4.1 4.1 3.9 4.6 5.4 5.2 5.0 4.9 5.9
Portfolio & Other Liabilities 108.5 132.3 166.0 207.5 220.1 292.7 406.4 469.8 467.0 471.1
% of GDP 29.0 27.4 25.0 24.7 26.3 31.2 35.0 37.9 45.6 51.7
Official 22.1 29.3 36.7 49.2 31.8 38.9 48.5 26.9 31.4 25.6
Banks 52.7 63.0 79.5 93.5 129.3 161.9 202.9 239.8 243.7 214.1
Non-bank 33.8 40.1 49.7 64.7 59.1 91.8 155.0 203.1 191.9 231.4
Memo Item:
% of GDP – – – – – 30.6 33.6 36.2 43.7 –
Official – – – – – 38.9 48.5 26.9 31.4 –
% of GDP – – – – – 4.1 4.2 2.2 3.1 –
Non-Official – – – – – 248.1 341.1 422.1 415.9 –
% of GDP – – – – – 26.4 29.4 34.1 40.6 –
Equity Liabilities – – – – – 56.5 76.8 82.4 69.7 –
% of GDP – – – – – 6.0 6.6 6.6 6.8 –
Net Measures of External Liabilities – Italy
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
Net External Liabilities −5.0 8.5 10.2 10.2 20.2 46.8 85.7 107.0 119.1 87.7
% of GDP −1.3 1.8 1.5 1.2 2.4 5.0 7.4 8.6 11.6 9.6
% of Exports of G & S −6.5 8.5 8.3 6.8 13.6 26.3 38.9 48.1 64.1 45.1
Net Direct Investment
% of GDP −0.6 0.4 −0.1 −0.2 −0.2 0.5 0.0 −0.7 −2.0 −3.0
% of Exports of G & S −2.7 1.9 −0.7 −1.1 −1.3 2.5 −0.1 −4.0 −11.0 −13.9
Net Portfolio and Other
% of GDP −0.8 1.4 1.7 1.4 2.6 4.5 7.4 9.3 13.6 12.6
% of Exports of G & S −3.7 6.5 9.0 7.9 14.8 23.8 38.9 52.0 75.1 59.0
Net Official −22.9 −13.4 −14.0 −21.7 −37.7 −43.4 −54.2 −67.5 −31.3 −36.2
% of GDP −6.1 −2.8 −2.1 −2.6 −4.5 −4.6 −4.7 −5.4 −3.1 −4.0
Net Banks 15.1 14.6 21.7 29.9 59.2 71.8 100.5 131.4 138.9 100.6
% of GDP 4.0 3.0 3.3 3.6 7.1 7.6 8.7 10.6 13.6 11.0
Net Non-bank 4.9 5.4 3.4 3.7 0.6 14.0 39.5 52.0 31.9 50.4
% of GDP 1.3 1.1 0.5 0.4 0.1 1.5 3.4 4.2 3.1 5.5
Memo Item:
% of GDP – – – – – 4.9 5.6 6.8 9.1 –
% of Exports of G & S – – – – – 25.9 29.4 37.8 49.9 –
Official – – – – – −43.4 −54.2 −67.5 −31.3 –
% of GDP – – – – – −4.6 −4.7 −5.4 −3.1 –
Non-Official – – – – – 89.6 119.0 151.8 124.0 –
% of GDP – – – – – 9.5 10.3 12.2 12.1 –
Net Equity Liabilities – – – – – 0.7 20.9 22.8 26.3 –
% of GDP – – – – – 0.1 1.8 1.8 2.6 –
% of Exports of G & S – – – – – 0.4 9.5 10.2 14.2 –
Gross Portfolio and Other
% of GDP 18.9 17.4 16.3 17.1 17.9 21.6 26.2 29.2 35.3 39.3
% of Exports of G & S 91.3 83.4 87.8 95.4 101.1 113.6 137.9 162.4 194.9 183.8
International Investment Position – Japan
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
ASSETS
Total External Assets 341.2 437.7 727.3 1,071.6 1,469.3 1,771.0 1,857.9 2,006.5 2,035.2 2,180.9
% of GDP 28.5 27.4 34.6 38.0 49.8 64.1 58.8 55.7 54.7 52.0
Direct Investment Assets 37.9 44.0 58.1 77.0 110.8 154.4 201.4 231.8 248.1 259.8
% of GDP 3.2 2.8 2.8 2.7 3.8 5.6 6.4 6.4 6.7 6.2
Portfolio & Other Assets 303.3 393.7 669.2 994.6 1,358.6 1,616.6 1,656.4 1,774.7 1,787.2 1,921.1
% of GDP 25.3 24.6 31.8 35.3 46.0 58.5 52.4 49.2 48.1 45.8
Official 64.5 64.5 94.7 163.3 202.4 202.6 202.2 231.1 256.1 317.0
Banks 126.9 194.6 345.3 576.8 733.7 842.1 950.6 942.4 879.2 918.6
Non-bank 111.9 134.6 229.2 254.5 422.5 572.0 503.7 601.2 651.8 685.5
Memo Item:
% of GDP – – – – – – – – – –
Official – – – – – – – – – –
% of GDP – – – – – – – – – –
Non-Official – – – – – – – – – –
% of GDP – – – – – – – – – –
Equity Assets – – – – – – – – – –
% of GDP – – – – – – – – – –
LIABILITIES
Total External Liabilities 266.9 307.9 547.0 830.9 1,177.6 1,477.8 1,529.8 1,623.4 1,521.6 1,570.1
% of GDP 22.3 19.3 26.0 29.5 39.9 53.5 48.4 45.0 40.9 37.5
Direct Investment Liabilities 4.5 4.7 6.5 9.0 10.4 9.2 9.9 12.3 15.5 16.9
% of GDP 0.4 0.3 0.3 0.3 0.4 0.3 0.3 0.3 0.4 0.4
Portfolio & Other Liabilities 262.4 303.1 540.4 821.9 1,167.2 1,468.6 1,520.0 1,611.2 1,506.1 1,553.2
% of GDP 21.9 19.0 25.7 29.1 39.5 53.2 48.1 44.7 40.5 37.1
Official 37.2 39.1 52.9 69.0 58.2 68.2 92.9 133.5 135.6 155.0
Banks 127.0 179.3 346.0 592.0 772.4 879.7 958.5 845.7 708.6 688.4
Non-bank 98.1 84.7 141.5 160.8 336.6 520.7 468.5 631.9 661.9 709.7
Memo Item:
% of GDP 17.9 16.1 22.0 26.8 35.8 47.4 45.3 40.9 37.3 33.8
Official 37.2 39.1 52.9 69.0 58.2 68.2 92.9 133.5 135.6 155.0
% of GDP 3.1 2.4 2.5 2.4 2.0 2.5 2.9 3.7 3.6 3.7
Non-Official 177.5 218.6 409.5 688.2 997.6 1,240.9 1,339.5 1,339.5 1,250.5 1,259.5
% of GDP 14.8 13.7 19.5 24.4 33.8 44.9 42.4 37.2 33.6 30.1
Equity Liabilities 52.1 50.2 84.5 73.7 121.8 168.7 97.4 150.4 135.6 155.6
% of GDP 4.4 3.1 4.0 2.6 4.1 6.1 3.1 4.2 3.6 3.7
Net Measures of External Liabilities – Japan
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
Net External Liabilities −74.3 −129.8 −180.4 −240.7 −291.7 293.2 −328.1 −383.1 −513.6 −610.8
% of GDP −6.2 −8.1 −8.6 −8.5 −9.9 −10.6 −10.4 −10.6 −13.8 −14.6
% of Exports of G & S −41.4 −56.2 −75.3 −82.1 −98.0 −99.3 −96.0 −102.5 −135.2 −154.4
Net Direct Investment
% of GDP −2.8 −2.5 −2.5 −2.4 −3.4 −5.3 −6.1 −6.1 −6.3 −5.8
% of Exports of G & S −18.6 −17.0 −21.5 −23.2 −33.7 −49.2 −56.1 −58.7 −61.2 −61.4
Net Portfolio and Other
% of GDP −3.4 −5.7 −6.1 −6.1 −6.5 −5.4 −4.3 −4.5 −7.6 −8.8
% of Exports of G & S −22.8 −39.2 −53.8 −58.9 −64.3 −50.1 −39.9 −43.8 −74.0 −93.0
Net Official −27.3 −25.4 −41.8 −94.3 −144.2 −134.4 −109.2 −97.5 −120.6 −162.0
% of GDP −2.3 −1.6 −2.0 −3.3 −4.9 −4.9 −3.5 −2.7 −3.2 −3.9
Net Banks 0.1 −15.3 0.7 15.2 38.7 37.7 7.9 −96.8 −170.6 −230.1
% of GDP 0.0 −1.0 0.0 0.5 1.3 1.4 0.3 −2.7 −4.6 −5.5
Net Non-bank −13.7 −49.9 −87.6 −93.7 −85.9 −51.3 −35.1 30.7 10.1 24.2
% of GDP −1.1 −3.1 −4.2 −3.3 −2.9 −1.9 −1.1 0.9 0.3 0.6
Memo Item:
% of GDP – – – – – – – – – –
% of Exports of G & S – – – – – – – – – –
Net Official – – – – – – – – – –
% of GDP – – – – – – – – – –
Net Non-Official – – – – – – – – – –
% of GDP – – – – – – – – – –
Net Equity Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
% of Exports of G & S – – – – – – – – – –
Gross Portfolio and Other
% of GDP 11.3 7.7 9.3 8.7 14.7 22.7 18.0 21.2 21.4 20.6
% of Exports of G & S 75.5 53.6 81.5 83.6 145.5 212.2 166.6 204.7 209.8 218.7
International Investment Position – The Netherlands
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
ASSETS
Total External Assets 140.4 179.4 230.3 289.5 295.4 343.8 410.0 444.9 451.4 –
% of GDP 124.5 118.9 117.8 116.8 129.1 135.9 134.2 140.0 145.0 –
Direct Investment Assets 39.9 47.8 59.3 74.8 77.0 91.4 112.4 125.1 128.4 –
% of GDP 35.4 31.7 30.3 30.2 33.7 36.1 36.8 39.4 41.3 –
Portfolio & Other Assets 100.5 131.6 171.0 214.7 218.4 252.5 297.6 319.7 323.0 –
% of GDP 89.1 87.2 87.5 86.6 95.5 99.8 97.4 100.6 103.8 –
Official 21.0 26.2 31.7 40.0 38.9 40.3 42.9 42.9 45.6 –
Banks 57.5 72.9 91.2 114.1 115.0 139.5 176.9 189.0 189.5 –
Non-bank 21.9 32.6 48.1 60.6 64.5 72.7 77.8 87.8 87.9 –
Memo Item:
% of GDP 88.0 85.5 83.3 84.3 90.6 94.0 95.5 98.2 101.3 –
Official 21.0 26.2 31.7 40.0 38.9 40.3 42.9 42.9 45.6 –
% of GDP 18.6 17.3 16.2 16.1 17.0 15.9 14.0 13.5 14.6 –
Non-Official 78.2 102.8 131.1 169.1 168.5 197.5 248.8 269.3 269.7 –
% of GDP 69.3 68.2 67.1 68.2 73.6 78.1 81.4 84.7 86.6 –
Equity Assets 41.2 50.4 67.5 80.5 88.0 106.0 118.3 132.7 136.2 –
% of GDP 36.5 33.4 34.5 32.5 38.5 41.9 38.7 41.8 43.7 –
LIABILITIES
Total External Liabilities 102.0 137.8 182.5 232.3 234.6 282.4 343.8 373.6 389.7 –
% of GDP 90.5 91.4 93.3 93.7 102.5 111.6 112.5 117.5 125.2 –
Direct Investment Liabilities 18.2 25.0 35.1 46.7 46.0 56.4 74.6 80.7 83.2 –
% of GDP 16.1 16.5 18.0 18.8 20.1 22.3 24.4 25.4 26.7 –
Portfolio & Other Liabilities 83.8 112.9 147.4 185.7 188.5 226.1 269.2 292.9 306.5 –
% of GDP 74.3 74.8 75.4 74.9 82.4 89.3 88.1 92.2 98.5 –
Official 8.5 12.1 15.5 24.2 24.5 30.3 33.1 40.6 43.8 –
Banks 53.1 65.7 85.8 109.1 107.5 119.6 151.5 157.4 164.7 –
Non-bank 22.2 35.1 46.1 52.3 56.5 76.2 84.6 94.9 98.0 –
Memo Item:
% of GDP 63.6 60.6 60.7 65.1 70.0 74.3 78.2 80.8 88.0 –
Official 8.5 12.1 15.5 24.2 24.5 30.3 33.1 40.6 43.8 –
% of GDP 7.6 8.0 7.9 9.8 10.7 12.0 10.8 12.8 14.1 –
Non-Official 63.2 79.4 103.1 137.3 135.5 157.7 205.9 216.0 230.1 –
% of GDP 56.0 52.6 52.7 55.4 59.2 62.3 67.4 68.0 73.9 –
Equity Liabilities 30.3 46.3 63.9 70.9 74.5 94.5 104.7 116.9 115.8 –
% of GDP 26.9 30.7 32.7 28.6 32.6 37.3 34.3 36.8 37.2 –
Net Measures of External Liabilities – The Netherlands
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
Net External Liabilities −38.4 −41.5 −47.9 −57.2 −60.8 −61.4 −66.2 −71.3 −61.7 –
% of GDP −34.0 −27.5 −24.5 −23.1 −26.6 −24.3 −21.7 −22.4 −19.8 –
% of Exports of G & S −54.8 −43.4 −45.1 −46.3 −50.6 −43.9 −39.8 −41.5 −38.2 –
Net Direct Investment
% of GDP −19.3 −15.1 −12.4 −11.3 −13.6 −13.8 −12.4 −14.0 −14.5 –
% of Exports of G & S −31.0 −23.8 −22.8 −22.8 −25.8 −25.0 −22.8 −25.9 −28.0 –
Net Portfolio and Other
% of GDP −14.8 −12.4 −12.1 −11.7 −13.0 −10.4 −9.3 −8.4 −5.3 –
% of Exports of G & S −23.8 −19.5 −22.3 −23.5 −24.8 −18.9 −17.0 −15.6 −10.2 –
Net Official −12.5 −14.1 −16.2 −15.8 −14.4 −10.0 −9.7 −2.2 −1.7 –
% of GDP −11.1 −9.3 −8.3 −6.4 −6.3 −4.0 −3.2 −0.7 −0.6 –
Net Banks −4.5 −7.2 −5.5 −5.0 −7.5 −20.0 −25.4 −31.7 −24.8 –
% of GDP −4.0 −4.8 −2.8 −2.0 −3.3 −7.9 −8.3 −10.0 −8.0 –
Net Non-bank 0.3 2.5 −2.0 −8.3 −8.0 3.6 6.8 7.1 10.1 –
% of GDP 0.3 1.7 −1.0 −3.3 −3.5 1.4 2.2 2.2 3.2 –
Memo Item:
% of GDP −24.4 −24.9 −22.6 −19.2 −20.7 −19.7 −17.2 −17.5 −13.3 –
% of Exports of G & S −39.3 −39.2 −41.7 −38.6 −39.4 −35.7 −31.6 −32.3 −25.6 –
Net Official −12.5 −14.1 −16.2 −15.8 −14.4 −10.0 −9.7 −2.2 −1.7 –
% of GDP −11.1 −9.3 −8.3 −6.4 −6.3 −4.0 −3.2 −0.7 −0.6 –
Net Non-Official −15.0 −23.5 −28.0 −31.8 −32.9 −39.9 −42.9 −53.2 −39.5 –
% of GDP −13.3 −15.5 −14.3 −12.8 −14.4 −15.8 −14.0 −16.8 −12.7 –
Net Equity Liabilities −10.9 −4.0 −3.6 −9.6 −13.5 −11.5 −13.6 −15.8 −20.4 –
% of GDP −9.7 −2.7 −1.9 −3.9 −5.9 −4.5 −4.5 −5.0 −6.6 –
% of Exports of G & S −15.5 −4.2 −3.4 −7.8 −11.2 −8.2 −8.2 −9.2 −12.6 –
Gross Portfolio and Other
% of GDP 27.3 31.3 31.5 30.9 35.4 42.1 38.5 42.6 45.6 –
% of Exports of G & S 43.9 49.3 58.1 62.0 67.4 76.2 70.8 78.9 87.8 –
International Investment Position – New Zealand
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
ASSETS
Total External Assets – – – – – 4.5 8.8 12.8 13.6 11.6
% of GDP – – – – – 11.1 21.3 29.6 33.8 28.2
Direct Investment Assets – – – – – 0.5 3.3 6.0 7.0 4.8
% of GDP – – – – – 1.3 7.9 13.8 17.3 11.7
Portfolio & Other Assets – – – – – 4.0 5.5 6.8 6.6 6.8
% of GDP – – – – – 9.8 13.4 15.8 16.5 16.5
Official – – – – – 2.5 3.2 3.9 3.2 3.3
Banks – – – – – 1.5 1.1 1.6 1.4 1.5
Non-bank – – – – – 0.0 1.2 1.4 2.1 2.0
Memo Item:
% of GDP – – – – – 2.9 10.4 11.2 11.3 6.8
Official – – – – – 2.5 3.2 3.9 3.2 3.3
% of GDP – – – – – 6.1 7.9 9.0 7.9 8.0
Non-Official – – – – – −1.3 1.0 1.0 1.4 −0.5
% of GDP – – – – – −3.2 2.5 2.2 3.4 −1.2
Equity Assets – – – – – 3.4 4.5 8.0 9.1 8.8
% of GDP – – – – – 8.2 11.0 18.4 22.6 21.3
LIABILITIES
Total External Liabilities – – – – – 31.6 35.0 40.1 38.9 40.6
% of GDP – – – – – 77.3 84.7 92.9 96.8 98.6
Direct Investment Liabilities – – – – – 6.0 7.9 10.8 12.3 15.2
% of GDP – – – – – 14.6 19.2 24.9 30.7 36.9
Portfolio & Other Liabilities – – – – – 25.7 27.1 29.3 26.6 25.4
% of GDP – – – – – 62.7 65.5 67.9 66.1 61.7
Official – – – – – 10.8 11.6 11.8 11.0 12.6
Banks – – – – – 2.8 3.3 6.2 6.4 9.0
Non-bank – – – – – 12.1 12.1 11.3 9.2 3.8
Memo Item:
% of GDP – – – – – 62.6 65.3 72.4 71.6 68.4
Official – – – – – 10.8 11.6 11.8 11.0 12.6
% of GDP – – – – – 26.3 28.1 27.4 27.3 30.5
Non-Official – – – – – 14.8 15.3 19.4 17.8 15.6
% of GDP – – – – – 36.3 37.1 45.0 44.3 37.9
Equity Liabilities – – – – – 6.0 8.0 8.8 10.1 12.4
% of GDP – – – – – 14.7 19.4 20.5 25.2 30.2
Net Measures of External Liabilities – New Zealand
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
Net External Liabilities – – – – – 27.1 26.2 27.3 25.3 29.0
% of GDP – – – – – 66.2 63.3 63.2 62.9 70.4
% of Exports of G & S – – – – – 243.5 236.1 233.4 215.0 228.5
Net Direct Investment
% of GDP – – – – – 13.3 11.3 11.1 13.4 25.2
% of Exports of G & S – – – – – 48.8 42.1 41.1 45.7 81.7
Net Portfolio and Other
% of GDP – – – – – 53.0 52.0 52.1 49.6 45.3
% of Exports of G & S – – – – – 194.7 194.0 192.2 169.3 146.9
Net Official – – – – – 8.3 8.4 8.0 7.8 9.3
% of GDP – – – – – 20.3 20.3 18.5 19.4 22.5
Net Banks – – – – – 1.3 2.3 4.6 5.0 7.5
% of GDP – – – – – 3.1 5.4 10.6 12.4 18.3
Net Non-bank – – – – – 12.1 10.9 9.9 7.1 1.8
% of GDP – – – – – 29.6 26.3 23.0 17.8 4.5
Memo Item:
% of GDP – – – – – 59.7 54.9 61.2 60.3 61.6
% of Exports of G & S – – – – – 219.6 204.7 225.9 206.0 199.8
Net Official – – – – – 8.3 8.4 8.0 7.8 9.3
% of GDP – – – – – 20.3 20.3 18.5 19.4 22.5
Net Non-Official – – – – – 16.1 14.3 18.5 16.4 16.1
% of GDP – – – – – 39.5 34.6 42.8 40.9 39.1
Net Equity Liabilities – – – – – 2.7 3.5 0.9 1.1 3.6
% of GDP – – – – – 6.5 8.4 2.0 2.6 8.9
% of Exports of G & S – – – – – 24.0 31.4 7.5 9.0 28.7
Gross Portfolio and Other
% of GDP – – – – – 59.1 62.8 64.2 62.6 58.1
% of Exports of G & S – – – – – 217.2 234.2 237.0 213.7 188.6
International Investment Position – Norway
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
ASSETS
Total External Assets 20.3 28.4 31.9 41.0 38.3 40.8 49.3 49.6 47.9 50.4
% of GDP 40.8 43.1 45.9 45.5 43.2 43.5 44.1 43.2 47.3 51.6
Direct Investment Assets – – – – 4.0 5.1 11.0 12.2 11.8 –
% of GDP – – – – 4.5 5.4 9.8 10.6 11.6 –
Portfolio & Other Assets – – – – 34.4 35.7 38.3 37.4 36.1 –
% of GDP – – – – 38.7 38.0 34.3 32.6 35.7 –
Official – – – – 14.8 15.6 17.4 14.8 13.6 –
Banks – – – – 6.4 6.6 7.9 9.4 11.6 –
Non-bank – – – – 13.1 13.6 13.0 13.2 10.9 –
Memo Item:
% of GDP 39.6 41.4 43.2 42.8 40.1 39.7 40.2 38.7 43.1 46.8
Official 10.2 15.0 13.6 16.3 14.8 15.6 17.4 14.8 13.6 21.8
% of GDP 20.6 22.7 19.7 18.1 16.7 16.6 15.5 12.9 13.4 22.4
Non-Official 9.5 12.3 16.4 22.3 20.8 21.8 27.6 29.6 30.1 23.9
% of GDP 19.0 18.6 23.6 24.7 23.4 23.2 24.7 25.8 29.7 24.5
Equity Assets 0.7 1.1 1.6 2.5 2.8 3.5 4.3 5.2 4.2 4.7
% of GDP 1.3 1.7 2.3 2.7 3.1 3.7 3.9 4.5 4.1 4.8
LIABILITIES
Total External Liabilities 28.7 34.8 42.5 56.9 58.3 60.8 65.8 61.7 57.3 58.1
% of GDP 57.7 52.7 61.2 63.1 65.7 64.7 58.9 53.7 56.5 59.5
Direct Investment Liabilities – – – 8.6 8.7 9.7 12.4 15.9 13.5 –
% of GDP – – – 9.6 9.8 10.3 11.1 13.8 13.3 –
Portfolio & Other Liabilities – – – 48.3 49.6 51.1 53.4 45.8 43.8 –
% of GDP – – – 53.6 55.9 54.4 47.8 39.9 43.2 –
Official – – – 3.9 5.3 5.4 5.5 6.2 10.4 –
Banks – – – 23.5 21.8 21.4 22.9 17.1 11.6 –
Non-bank – – – 20.9 22.6 24.4 25.0 22.5 21.7 –
Memo Item:
% of GDP 56.3 51.2 59.3 60.6 62.9 61.4 55.2 49.7 52.6 53.9
Official 1.8 2.3 3.4 3.9 5.3 5.4 5.5 6.2 10.4 11.9
% of GDP 3.6 3.4 4.9 4.3 5.9 5.7 4.9 5.4 10.3 12.2
Non-Official 26.2 31.6 37.7 50.7 50.6 52.3 56.2 51.0 42.9 40.6
% of GDP 52.7 47.8 54.3 56.3 57.0 55.7 50.3 44.3 42.3 41.6
Equity Liabilities 0.7 1.0 1.3 2.3 2.5 3.2 4.0 4.5 3.9 5.5
% of GDP 1.4 1.5 1.9 2.5 2.8 3.4 3.6 3.9 3.9 5.6
Net Measures of External Liabilities – Norway
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
Net External Liabilities 8.3 6.4 10.8 15.9 19.9 20.0 16.5 12.0 9.4 7.7
% of GDP 16.7 9.7 15.6 17.6 22.5 21.3 14.8 10.5 9.3 7.9
% of Exports of G & S 35.4 20.7 41.2 49.4 61.3 50.5 33.3 23.4 21.4 18.2
Net Direct Investment
% of GDP – – – – 5.3 4.9 1.3 3.2 1.7 –
% of Exports of G & S – – – – 14.4 11.7 2.9 7.1 4.0 –
Net Portfolio and Other
% of GDP – – – – 17.2 16.3 13.5 7.3 7.5 –
% of Exports of G & S – – – – 46.9 38.8 30.4 16.3 17.4 –
Net Official – – – – −9.5 −10.2 −11.9 −8.6 −3.2 –
% of GDP – – – – −10.8 −10.9 −10.6 −7.5 −3.1 –
Net Banks – – – – 15.3 14.8 15.0 7.7 0.0 –
% of GDP – – – – 17.3 15.8 13.4 6.7 0.0 –
Net Non-bank – – – – 9.5 10.8 12.0 9.3 10.8 –
% of GDP – – – – 10.7 11.5 10.7 8.1 10.7 –
Memo Item:
% of GDP 16.7 9.9 16.1 17.8 22.8 21.6 15.0 11.1 9.5 7.1
% of Exports of G & S 35.3 21.0 42.4 50.0 62.3 51.3 33.8 24.7 22.0 16.3
Net Official −8.4 −12.7 −10.2 −12.4 −9.5 −10.2 −11.9 −8.6 −3.2 −9.9
% of GDP −16.9 −19.3 −14.7 −13.8 −10.8 −10.9 −10.6 −7.5 −3.1 −10.1
Net Non-Official 16.7 19.3 21.4 28.5 29.8 30.5 28.6 21.3 12.8 16.8
% of GDP 33.6 29.2 30.8 31.6 33.6 32.5 25.6 18.6 12.6 17.2
Net Equity Liabilities 0.0 −0.1 −0.3 −0.2 −0.3 −0.3 −0.3 −0.7 −0.2 0.8
% of GDP 0.1 −0.2 −0.4 −0.2 −0.3 −0.4 −0.2 −0.6 −0.2 0.8
% of Exports of G & S 0.1 −0.3 −1.1 −0.6 −0.9 −0.9 −0.6 −1.3 −0.6 1.9
Gross Portfolio and Other
% of GDP – – – – 48.7 47.4 40.6 31.7 31.7 –
% of Exports of G & S – – – – 132.8 112.5 91.6 70.8 73.5 –
International Investment Position – Portugal
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
ASSETS
Total External Assets – – – – – – – – – –
% of GDP – – – – – – – – – –
Direct Investment Assets – – – – – – – – – –
% of GDP – – – – – – – – – –
Portfolio & Other Assets – – – – – – – – – –
% of GDP – – – – – – – – – –
Official – – – – – – – – – –
Banks – – – – – – – – – –
Non-bank – – – – – – – – – –
Memo Item:
% of GDP 60.3 51.8 40.0 37.7 44.5 50.5 46.8 50.5 49.3 –
Official 5.7 6.6 6.6 8.4 10.3 15.1 19.6 25.8 24.3 –
% of GDP 34.2 29.3 21.8 21.2 25.2 31.8 30.8 34.9 31.4 –
Non-Official 4.3 5.0 5.5 6.6 7.9 8.9 10.2 11.6 13.9 –
% of GDP 26.1 22.5 18.2 16.5 19.3 18.7 16.1 15.6 17.9 –
Equity Assets – – – – – – – – – –
% of GDP – – – – – – – – – –
LIABILITIES
Total External Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
Direct Investment Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
Portfolio & Other Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
Official – – – – – – – – – –
Banks – – – – – – – – – –
Non-bank – – – – – – – – – –
Memo Item:
% of GDP 89.4 74.3 55.0 45.9 43.6 42.9 38.0 38.7 41.4 –
Official 5.0 5.8 6.3 6.8 6.4 8.4 11.1 14.0 16.6 –
% of GDP 29.8 25.8 20.8 17.1 15.6 17.7 17.5 18.9 21.4 –
Non-Official 9.9 10.9 10.4 11.5 11.5 12.0 13.1 14.6 15.5 –
% of GDP 59.6 48.6 34.2 28.8 28.0 25.2 20.5 19.7 20.0 –
Equity Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
Net Measures of External Liabilities – Portugal
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
Net External Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
% of Exports of G & S – – – – – – – – – –
Net Direct Investment
% of GDP – – – – – – – – – –
% of Exports of G & S – – – – – – – – – –
Net Portfolio and Other
% of GDP – – – – – – – – – –
% of Exports of G & S – – – – – – – – – –
Net Official – – – – – – – – – –
% of GDP – – – – – – – – – –
Net Banks – – – – – – – – – –
% of GDP – – – – – – – – – –
Net Non-bank – – – – – – – – – –
% of GDP – – – – – – – – – –
Memo Item:
% of GDP 29.1 22.5 15.0 8.2 −0.9 −7.6 −8.8 −11.8 −7.9 –
% of Exports of G & S 80.3 60.2 45.6 23.9 −2.6 −20.5 −24.2 −37.4 −27.5 –
Net Official −0.7 −0.8 −0.3 −1.6 −3.9 −6.7 −8.5 −11.8 −7.8 –
% of GDP −4.4 −3.5 −1.0 −4.1 −9.6 −14.1 −13.3 −15.9 −10.0 –
Net Non-Official 5.6 5.8 4.9 4.9 3.5 3.1 2.8 3.0 1.6 –
% of GDP 33.5 26.0 16.0 12.3 8.6 6.5 4.5 4.1 2.1 –
Net Equity Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
% of Exports of G & S – – – – – – – – – –
Gross Portfolio and Other
% of GDP – – – – – – – – – –
% of Exports of G & S – – – – – – – – – –
International Investment Position – Spain
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
ASSETS
Total External Assets 37.8 39.4 46.8 63.7 74.3 85.8 113.6 139.4 155.0 –
% of GDP 26.1 21.6 19.2 19.2 21.0 20.9 22.0 24.6 30.3 –
Direct Investment Assets 3.5 4.5 5.9 8.4 9.4 11.4 16.5 20.8 22.1 –
% of GDP 2.4 2.4 2.4 2.5 2.7 2.8 3.2 3.7 4.3 –
Portfolio & Other Assets 34.3 35.0 40.9 55.3 64.9 74.5 97.1 118.6 132.9 –
% of GDP 23.7 19.1 16.7 16.7 18.3 18.1 18.8 20.9 26.0 –
Official 15.2 13.3 16.0 30.2 40.1 44.6 53.3 66.5 50.7 –
Banks 11.3 12.9 15.5 16.5 15.9 17.1 25.5 29.4 50.7 –
Non-bank 7.7 8.7 9.4 8.6 8.9 12.7 18.3 22.7 31.6 –
Memo Item:
% of GDP 23.7 19.4 17.3 17.5 19.0 18.8 19.6 21.8 26.6 –
Official 15.2 13.3 16.0 30.2 40.1 44.6 53.3 66.5 50.7 –
% of GDP 10.5 7.3 6.6 9.1 11.3 10.9 10.3 11.7 9.9 –
Non-Official 19.0 22.1 26.1 27.8 27.2 32.4 48.2 57.2 85.3 –
% of GDP 13.2 12.1 10.7 8.4 7.7 7.9 9.3 10.1 16.7 –
Equity Assets 3.6 4.0 4.6 5.7 7.1 8.8 12.1 15.8 19.1 –
% of GDP 2.5 2.2 1.9 1.7 2.0 2.2 2.3 2.8 3.7 –
LIABILITIES
Total External Liabilities 56.0 59.1 68.2 93.3 107.9 134.6 197.7 243.2 268.1 –
% of GDP 38.6 32.3 27.9 28.1 30.5 32.8 38.3 42.9 52.4 –
Direct Investment Liabilities 5.5 7.3 10.7 16.7 21.4 28.9 45.4 55.8 63.8 –
% of GDP 3.8 4.0 4.4 5.0 6.1 7.0 8.8 9.8 12.5 –
Portfolio & Other Liabilities 50.5 51.8 57.6 76.7 86.5 105.8 152.4 187.4 204.2  
% of GDP 34.9 28.3 23.6 23.1 24.4 25.8 29.5 33.1 39.9 –
Official 5.0 5.2 4.1 4.7 5.0 6.0 8.2 10.5 16.7 –
Banks 16.1 16.8 22.5 27.6 30.5 37.1 58.3 65.5 64.3 –
Non-bank 29.4 29.7 30.9 44.3 51.0 62.7 85.9 111.4 123.2 –
Memo Item:
% of GDP 31.7 24.8 19.3 17.9 18.8 19.0 21.8 26.4 31.9 –
Official 5.0 5.2 4.1 4.7 5.0 6.0 8.2 10.5 16.7 –
% of GDP 3.5 2.9 1.7 1.4 1.4 1.5 1.6 1.9 3.3 –
Non-Official 41.0 40.2 43.1 54.8 61.5 72.0 104.2 139.2 146.5 –
% of GDP 28.3 22.0 17.6 16.5 17.4 17.6 20.2 24.6 28.6 –
Equity Liabilities 10.0 13.7 21.1 33.8 41.4 56.6 85.3 93.4 104.9 –
% of GDP 6.9 7.5 8.6 10.2 11.7 13.8 16.5 16.5 20.5 –
Net Measures of External Liabilities – Spain
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
Net External Liabilities 18.1 19.6 21.4 29.6 33.6 48.8 84.1 103.8 113.0 –
% of GDP 12.5 10.7 8.8 8.9 9.5 11.9 16.3 18.3 22.1 –
% of Exports of G & S 52.9 47.2 44.2 46.2 50.3 65.7 95.3 106.1 127.9 –
Net Direct Investment
% of GDP 1.3 1.5 1.9 2.5 3.4 4.3 5.6 6.2 8.2 –
% of Exports of G & S 5.7 6.8 9.7 12.8 18.0 23.6 32.7 35.8 47.2 –
Net Portfolio and Other
% of GDP 11.2 9.2 6.8 6.5 6.1 7.6 10.7 12.1 13.9 –
% of Exports of G & S 47.2 40.4 34.5 33.3 32.3 42.1 62.6 70.4 80.6 –
Net Official −10.2 −8.1 −12.0 −25.5 −35.0 −38.6 −45.1 −55.9 −34.0 –
% of GDP −7.1 −4.4 −4.9 −7.7 −9.9 −9.4 −8.7 −9.9 −6.6 –
Net Banks 4.7 3.9 7.1 11.1 14.6 20.0 32.7 36.0 13.6 –
% of GDP 3.3 2.1 2.9 3.4 4.1 4.9 6.3 6.4 2.6 –
Net Non-bank 21.7 21.0 21.6 35.7 42.0 50.0 67.6 88.7 91.7 –
% of GDP 15.0 11.5 8.8 10.8 11.9 12.2 13.1 15.7 17.9 –
Memo Item:
% of GDP 8.1 5.4 2.0 0.4 −0.2 0.2 2.1 4.6 5.3 –
% of Exports of G & S 34.1 23.9 10.3 2.3 −1.1 1.4 12.5 26.7 30.8 –
Net Official −10.2 −8.1 −12.0 −25.5 −35.0 −38.6 −45.1 −55.9 −34.0 –
% of GDP −7.1 −4.4 −4.9 −7.7 −9.9 −9.4 −8.7 −9.9 −6.6 –
Net Non-Official 21.9 18.1 16.9 26.9 34.3 39.6 56.1 82.1 61.2 –
% of GDP 15.1 9.9 6.9 8.1 9.7 9.7 10.8 14.5 12.0 –
Net Equity Liabilities 6.4 9.7 16.4 28.2 34.3 47.8 73.1 77.6 85.8 –
% of GDP 4.4 5.3 6.7 8.5 9.7 11.6 14.2 13.7 16.8 –
% of Exports of G & S 18.8 23.3 33.9 43.9 51.4 64.3 82.9 79.4 97.0 –
Gross Portfolio and Other
% of GDP 27.0 21.2 17.2 18.1 19.9 21.6 24.5 27.9 30.0 –
% of Exports of G & S 114.2 93.4 86.9 93.8 105.7 119.3 143.7 161.6 173.6 –
International Investment Position – Sweden
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
ASSETS
Total External Assets 30.4 39.5 49.7 68.5 74.3 100.7 141.4 151.1 134.9 129.6
% of GDP 34.4 34.8 35.8 39.3 41.2 51.1 59.7 57.7 66.0 74.3
Direct Investment Assets 7.4 10.8 16.1 23.9 28.4 38.2 49.8 53.5 50.5 44.7
% of GDP 8.3 9.5 11.6 13.7 15.8 19.4 21.1 20.5 24.7 25.6
Portfolio & Other Assets 23.0 28.8 33.5 44.5 45.8 62.5 91.6 97.6 84.3 84.9
% of GDP 26.0 25.3 24.2 25.5 25.4 31.7 38.7 37.3 41.2 48.6
Official 5.1 7.7 8.9 11.5 11.7 13.7 23.0 23.3 27.9 25.5
Banks 7.2 8.9 10.8 15.0 14.9 21.0 34.9 34.4 32.1 26.4
Non-bank 10.7 12.2 13.9 18.0 19.2 27.8 33.6 39.9 24.4 33.1
Memo Item:
% of GDP 25.7 24.9 24.3 27.7 27.3 29.8 37.1 34.2 38.4 45.9
Official 5.1 7.6 8.9 11.4 11.7 13.7 23.0 23.3 27.9 25.5
% of GDP 5.8 6.6 6.4 6.5 6.5 7.0 9.7 8.9 13.6 14.6
Non-Official 17.5 20.8 24.8 36.9 37.6 44.9 64.8 66.1 50.7 54.6
% of GDP 19.9 18.3 17.9 21.1 20.8 22.8 27.4 25.3 24.8 31.3
Equity Assets 7.7 11.2 16.0 20.2 25.0 42.1 53.6 61.7 56.3 49.5
% of GDP 8.7 9.8 11.5 11.6 13.8 21.4 22.7 23.6 27.5 28.4
LIABILITIES
Total External Liabilities 49.2 60.9 73.9 96.4 108.3 141.8 201.9 218.7 211.8 210.5
% of GDP 55.7 53.6 53.3 55.3 60.1 72.0 85.3 83.6 103.6 120.6
Direct Investment Liabilities 3.3 4.4 6.0 9.2 9.9 10.9 12.3 17.9 14.2 14.2
% of GDP 3.7 3.8 4.3 5.3 5.5 5.5 5.2 6.8 6.9 8.1
Portfolio & Other Liabilities 45.9 56.5 67.9 87.2 98.4 130.9 189.6 200.8 197.6 196.2
% of GDP 52.0 49.7 49.0 50.0 54.6 66.5 80.1 76.7 96.7 112.4
Official 15.7 18.7 19.5 21.5 18.7 18.2 21.5 27.8 54.9 65.0
Banks 15.5 19.0 23.7 35.1 43.8 63.1 99.4 92.8 62.8 50.3
Non-bank 14.7 18.9 24.7 30.6 35.9 49.6 68.7 80.2 79.9 80.9
Memo Item:
% of GDP 48.8 46.7 45.1 48.3 50.3 63.6 77.7 74.1 91.0 104.8
Official 15.8 19.1 19.9 22.1 19.0 18.2 21.5 27.8 54.9 65.0
% of GDP 17.9 16.8 14.4 12.7 10.5 9.2 9.1 10.6 26.9 37.2
Non-Official 27.3 33.9 42.6 62.2 71.8 107.0 162.4 166.2 131.1 117.9
% of GDP 30.9 29.8 30.7 35.7 39.8 54.3 68.6 63.5 64.1 67.6
Equity Liabilities 6.1 7.9 11.4 12.1 17.6 16.6 18.0 24.7 25.8 27.5
% of GDP 6.9 6.9 8.2 7.0 9.7 8.4 7.6 9.4 12.6 15.8
Net Measures of External Liabilities – Sweden
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
Net External Liabilities 18.9 21.4 24.2 28.0 34.1 41.1 60.4 67.6 76.9 80.8
% of GDP 21.4 18.8 17.5 16.0 18.9 20.9 25.5 25.8 37.6 46.3
% of Exports of G & S 58.6 53.1 53.1 49.2 58.3 64.9 84.7 92.5 135.0 141.5
Net Direct Investment
% of GDP −4.6 −5.6 −7.3 −8.4 −10.3 −13.9 −15.9 −13.6 −17.8 −17.5
% of Exports of G & S −12.6 −15.9 −22.2 −25.9 −31.7 −43.1 −52.6 −48.7 −63.8 −53.4
Net Portfolio and Other
% of GDP 26.0 24.4 24.8 24.5 29.1 34.7 41.4 39.4 55.4 63.8
% of Exports of G & S 71.2 68.9 75.3 75.1 90.0 108.0 137.3 141.2 198.7 194.9
Net Official 10.6 11.0 10.6 10.0 7.0 4.4 −1.5 4.5 27.1 39.6
% of GDP 12.0 9.7 7.6 5.7 3.9 2.3 −0.6 1.7 13.2 22.7
Net Banks 8.4 10.0 12.9 20.0 28.9 42.1 64.5 58.5 30.7 24.0
% of GDP 9.5 8.8 9.3 11.5 16.0 21.4 27.2 22.3 15.0 13.7
Net Non-bank 4.0 6.7 10.9 12.7 16.7 21.8 35.0 40.2 55.5 47.8
% of GDP 4.5 5.9 7.8 7.3 9.2 11.1 14.8 15.4 27.1 27.4
Memo Item:
% of GDP 23.1 21.7 20.8 20.7 23.0 33.8 40.6 39.9 52.6 58.9
% of Exports of G & S 63.3 61.3 63.2 63.4 70.9 105.1 134.6 143.1 188.6 180.0
Official 10.7 11.6 11.0 10.7 7.2 4.4 −1.5 4.5 27.1 39.6
% of GDP 12.1 10.2 8.0 6.1 4.0 2.3 −0.6 1.7 13.2 22.7
Non-Official 9.7 13.1 17.8 25.3 34.2 62.1 97.6 100.1 80.4 63.3
% of GDP 11.0 11.5 12.8 14.5 19.0 31.6 41.2 38.2 39.3 36.3
Net Equity Liabilities −1.5 −3.3 −4.6 −8.1 −7.4 −25.5 −35.6 −37.0 −30.5 −22.0
% of GDP −1.7 −2.9 −3.3 −4.6 −4.1 −12.9 −15.0 −14.1 −14.9 −12.6
% of Exports of G & S −4.8 −8.2 −10.1 −14.2 −12.6 −40.2 −49.9 −50.6 −53.6 −38.5
Gross Portfolio and Other
% of GDP 43.9 41.9 41.2 41.4 46.3 55.8 65.3 63.6 81.0 97.3
% of Exports of G & S 120.3 118.2 125.1 127.0 143.0 173.5 216.6 227.7 290.4 297.4
International Investment Position – Switzerland
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
ASSETS
Total External Assets 233.0 253.5 341.0 449.8 436.5 475.9 564.8 589.1 580.0 –
% of GDP 282.6 230.9 227.4 225.7 244.6 253.4 233.0 240.0 249.6 –
Direct Investment Assets 20.7 25.3 34.3 45.3 47.1 52.6 65.7 75.3 72.6 –
% of GDP 25.1 23.0 22.9 22.7 26.4 28.0 27.1 30.7 31.3 –
Portfolio & Other Assets 212.4 228.3 306.6 404.5 389.3 423.2 499.1 513.8 507.4 –
% of GDP 257.5 207.9 204.5 203.0 218.2 225.4 205.9 209.3 218.3 –
Official 23.4 24.8 30.8 39.6 32.8 34.4 39.2 39.7 41.5 –
Banks 68.4 75.8 101.3 138.5 124.1 115.4 135.0 129.8 129.1 –
Non-bank 120.5 127.7 174.6 226.4 232.5 273.4 324.9 344.3 336.8 –
Memo Item:
% of GDP 235.3 191.5 186.4 188.6 202.4 204.5 193.0 192.4 199.3 –
Official 23.4 24.8 30.8 39.6 32.8 34.4 39.2 39.7 41.5 –
% of GDP 28.4 22.6 20.5 19.9 18.4 18.3 16.2 16.2 17.9 –
Non-Official 170.7 185.5 248.7 336.2 328.4 349.6 428.5 432.5 421.7 –
% of GDP 206.9 168.9 165.9 168.7 184.0 186.2 176.8 176.2 181.4 –
Equity Assets 39.0 43.3 61.5 74.0 75.2 91.8 97.1 117.0 116.8 –
% of GDP 47.2 39.4 41.0 37.1 42.2 48.9 40.1 47.7 50.3 –
LIABILITIES
Total External Liabilities 131.6 143.6 209.1 257.2 249.8 290.3 347.2 353.5 346.9 –
% of GDP 159.6 130.7 139.5 129.0 140.0 154.6 143.3 144.0 149.3  
Direct Investment Liabilities 13.3 14.6 24.8 32.6 32.6 32.9 43.4 45.0 42.4 –
% of GDP 16.2 13.3 16.5 16.3 18.2 17.5 17.9 18.3 18.2 –
Portfolio & Other Liabilities 118.3 129.0 184.3 224.6 217.2 257.4 303.8 308.4 304.6 –
% of GDP 143.4 117.5 122.9 112.7 121.7 137.1 125.3 125.7 131.0  
Official 0.1 0.1 0.1 0.5 0.4 0.2 0.1 0.1 0.2 –
Banks 54.5 59.5 81.5 109.5 102.2 109.8 132.9 131.1 124.6 –
Non-bank 63.7 69.4 102.8 114.6 114.6 147.4 170.8 177.2 179.8 –
Memo Item:
% of GDP 98.0 79.2 77.9 78.8 85.2 93.2 92.5 90.8 92.0 –
Official 0.1 0.1 0.1 0.5 0.4 0.2 0.1 0.1 0.2 –
% of GDP 0.1 0.1 0.0 0.3 0.2 0.1 0.0 0.0 0.1 –
Non-Official 80.7 86.8 116.7 156.5 151.7 174.8 224.2 222.7 213.6 –
% of GDP 97.9 79.1 77.9 78.5 85.0 93.1 92.5 90.7 91.9 –
Equity Liabilities 50.8 56.6 92.3 100.2 97.7 115.3 123.0 130.7 133.2 –
% of GDP 61.6 51.6 61.6 50.3 54.8 61.4 50.7 53.2 57.3 –
Net Measures of External Liabilities – Switzerland
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
Net External Liabilities −101.5 −110.0 −131.9 −192.7 −186.7 −185.6 −217.6 −235.7 −233.1 –
% of GDP −123.0 −100.1 −88.0 −96.7 −104.6 −98.8 −89.8 −96.0 −100.3 –
% of Exports of G & S −325.4 −256.6 −240.3 −272.1 −286.6 −259.8 −244.9 −273.8 −277.3 –
Net Direct Investment
% of GDP −8.9 −9.7 −6.4 −6.4 −8.2 −10.5 −9.2 −12.4 −13.0 –
% of Exports of G & S −23.6 −24.9 −17.4 −18.0 −22.4 −27.6 −25.1 −35.2 −36.0 –
Net Portfolio and Other
% of GDP −114.1 −90.4 −81.6 −90.3 −96.5 −88.3 −80.6 −83.7 −87.3 –
% of Exports of G & S −301.8 −231.6 −222.9 −254.1 −264.2 −232.2 −219.8 −238.5 −241.3 –
Net Official −23.4 −24.7 −30.7 −39.1 −32.4 −34.3 −39.2 −39.6 −41.4 –
% of GDP −28.4 −22.5 −20.5 −19.6 −18.2 −18.3 −16.2 −16.1 −17.8 –
Net Banks −14.0 −16.3 −19.8 −29.0 −21.9 −5.6 −2.0 1.4 −4.5 –
% of GDP −16.9 −14.9 −13.2 −14.5 −12.2 −3.0 −0.8 0.6 −1.9 –
Net Non-bank −56.8 −58.2 −71.8 −111.9 −117.9 −126.0 −154.1 −167.1 −157.0 –
% of GDP −68.8 −53.0 −47.9 −56.1 −66.1 −67.1 −63.6 −68.1 −67.5 –
Memo Item:
% of GDP −137.4 −112.3 −108.5 −109.8 −117.2 −111.4 −100.4 −101.6 −107.4 –
% of Exports of G & S −363.4 −287.7 −296.3 −309.1 −321.1 −292.6 −274.0 −289.6 −296.8 –
Net Official −23.4 −24.7 −30.7 −39.1 −32.4 −34.3 −39.2 −39.6 −41.4 –
% of GDP −28.4 −22.5 −20.5 −19.6 −18.2 −18.3 −16.2 −16.1 −17.8 –
Net Non-Official −89.9 −98.6 −131.9 −179.8 −176.8 −174.8 −204.3 −209.8 −208.1 –
% of GDP −109.0 −89.8 −88.0 −90.2 −99.1 −93.1 −84.3 −85.5 −89.5 –
Net Equity Liabilities 11.8 13.4 30.8 26.2 22.5 23.5 25.8 13.7 16.4 –
% of GDP 14.4 12.2 20.5 13.2 12.6 12.5 10.7 5.6 7.1 –
% of Exports of G & S 38.0 31.2 56.1 37.0 34.5 32.9 29.1 15.9 19.5 –
Gross Portfolio and Other
% of GDP 77.3 63.3 68.6 57.7 64.4 78.6 70.5 72.8 77.4 –
% of Exports of G & S 204.6 162.2 187.4 162.5 176.4 206.5 192.3 207.5 214.1 –
International Investment Position – United Kingdom
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
ASSETS
Total External Assets 721.3 857.5 1,062.9 1,300.8 1,403.1 1,539.3 1,757.0 1,778.0 1,778.7 2,039.1
% of GDP 191.4 166.1 187.3 164.2 164.5 185.8 165.4 165.7 197.6 219.7
Direct Investment Assets 86.9 100.3 118.9 159.6 188.8 199.1 235.0 237.4 226.3 255.4
% of GDP 23.1 19.4 21.0 20.1 22.1 24.0 22.1 22.1 25.1 27.5
Portfolio & Other Assets 634.4 757.1 943.9 1,141.2 1,214.3 1,340.2 1,521.9 1,540.6 1,552.4 1,783.6
% of GDP 168.4 146.7 166.3 144.0 142.4 161.8 143.2 143.6 172.5 192.2
Official 24.5 31.2 38.9 66.8 68.8 57.8 64.8 71.6 62.3 64.4
Banks 495.4 574.8 696.9 849.9 867.2 904.9 1,046.9 961.8 968.4 998.7
Non-bank 114.5 151.1 208.1 224.5 278.4 377.5 410.2 507.2 521.7 720.4
Memo Item:
% of GDP – – – – – – – – – –
Official – – – – – – – – – –
% of GDP – – – – – – – – – –
Non-Official – – – – – – – – – –
% of GDP – – – – – – – – – –
Equity Assets – – – – – – – – – –
% of GDP – – – – – – – – – –
LIABILITIES
Total External Liabilities 630.8 755.1 917.8 1,187.0 1,287.7 1,450.7 1,765.4 1,780.9 1,762.6 2,008.8
% of GDP 167.4 146.3 161.7 149.8 150.9 175.1 166.1 166.0 195.8 216.5
Direct Investment Liabilities 46.4 64.0 76.3 117.2 139.0 160.2 218.2 223.1 184.2 193.9
% of GDP 12.3 12.4 13.4 14.8 16.3 19.3 20.5 20.8 20.5 20.9
Portfolio & Other Liabilities 584.4 691.1 841.5 1,069.8 1,148.7 1,290.5 1,547.2 1,557.8 1,578.5 1,815.0
% of GDP 155.1 133.9 148.3 135.0 134.7 155.8 145.6 145.2 175.4 195.6
Official 15.8 23.5 29.7 47.1 48.7 45.0 54.2 64.7 71.8 94.8
Banks 524.5 600.9 716.2 872.7 911.6 968.8 1,127.7 1,041.8 1,014.4 1,025.6
Non-bank 44.1 66.7 95.6 150.0 188.4 276.7 365.3 451.3 492.2 694.6
Memo Item:
% of GDP – – – – – – – – – –
Official – – – – – – – – – –
% of GDP – – – – – – – – – –
Non-Official – – – – – – – – – –
% of GDP – – – – – – – – – –
Equity Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
Net Measures of External Liabilities – United Kingdom
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
Net External Liabilities −90.5 −102.4 −145.1 −113.8 −115.5 −88.6 8.5 2.9 −16.1 −30.2
% of GDP −24.0 −19.8 −25.6 −14.4 −13.5 −10.7 0.8 0.3 −1.8 −3.3
% of Exports of G & S −85.2 −69.3 −100.1 −57.1 −59.5 −45.4 3.3 1.2 −7.6 −12.9
Net Direct Investment
% of GDP −10.7 −7.0 −7.5 −5.4 −5.8 −4.7 −1.6 −1.3 −4.7 −6.6
% of Exports of G & S −38.1 −24.6 −29.4 −21.3 −25.7 −19.9 −6.6 −5.7 −19.9 −26.3
Net Portfolio and Other
% of GDP −13.3 −12.8 −18.1 −9.0 −7.7 −6.0 2.4 1.6 2.9 3.4
% of Exports of G & S −47.1 −44.7 −70.7 −35.8 −33.8 −25.5 9.8 6.8 12.3 13.4
Net Official −8.7 −7.8 −9.2 −19.7 −20.1 −12.8 −10.6 −7.0 9.5 30.3
% of GDP −2.3 −1.5 −1.6 −2.5 −2.4 −1.5 −1.0 −0.6 1.1 3.3
Net Banks 29.1 26.1 19.3 22.8 44.5 63.9 80.7 80.0 46.0 26.8
% of GDP 7.7 5.1 3.4 2.9 5.2 7.7 7.6 7.5 5.1 2.9
Net Non-bank −70.4 −84.4 −112.5 −74.5 −90.0 −100.8 −44.9 −55.9 −29.5 −25.8
% of GDP −18.7 −16.4 −19.8 −9.4 −10.6 −12.2 −4.2 −5.2 −3.3 −2.8
Memo Item:
% of GDP – – – – – – – – – –
% of Exports of G & S – – – – – – – – – –
Net Official – – – – – – – – – –
% of GDP – – – – – – – – – –
Net Non-Official – – – – – – – – – –
% of GDP – – – – – – – – – –
Net Equity Liabilities – – – – – – – – – –
% of GDP – – – – – – – – – –
% of Exports of G & S – – – – – – – – – –
Gross Portfolio and Other
% of GDP 23.6 22.5 25.5 27.8 33.0 46.6 47.1 55.5 67.8 88.0
% of Exports of G & S 83.8 78.7 99.7 110.5 145.0 197.7 194.7 237.5 287.7 348.7
International Investment Position – United States
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
ASSETS
Total External Assets 1,120.4 1,288.3 1,566.4 1,709.0 1,935.9 2,236.7 2,165.7 2,300.2 2,267.3 2,647.4
% of GDP 29.7 31.9 36.7 37.6 39.5 42.6 39.2 40.2 37.5 41.5
Direct Investment Assets 265.8 379.1 518.7 577.0 678.6 817.8 719.4 813.8 785.9 993.2
% of GDP 7.0 9.4 12.2 12.7 13.8 15.6 13.0 14.2 13.0 15.6
Portfolio & Other Assets 854.6 909.2 1,047.7 1,132.0 1,257.3 1,418.9 1,446.4 1,486.4 1,481.4 1,654.3
% of GDP 22.6 22.5 24.5 24.9 25.7 27.0 26.2 26.0 24.5 25.9
Official 190.0 205.7 229.5 251.3 230.3 253.2 256.7 238.2 228.1 245.8
Banks 445.6 447.4 507.3 549.5 653.2 713.8 695.7 690.4 668.0 635.5
Non-bank 218.9 256.2 310.8 331.3 373.7 451.9 494.0 557.8 585.3 773.0
Memo Item:
% of GDP 16.4 15.9 17.5 17.8 19.4 20.5 20.1 19.5 18.4 18.2
Official 190.0 205.7 229.5 251.3 230.3 253.2 256.7 238.2 228.1 245.8
% of GDP 5.0 5.1 5.4 5.5 4.7 4.8 4.6 4.2 3.8 3.9
Non-Official 429.2 438.4 515.7 556.7 719.6 820.8 850.6 875.3 883.9 912.5
% of GDP 11.4 10.9 12.1 12.3 14.7 15.6 15.4 15.3 14.6 14.3
Equity Assets 501.2 644.2 821.2 901.0 986.0 1,162.7 1,058.4 1,186.7 1,155.4 1,489.1
% of GDP 13.3 16.0 19.2 19.8 20.1 22.1 19.2 20.7 19.1 23.3
LIABILITIES
Total External Liabilities 952.2 1,159.8 1,441.3 1,650.9 1,935.0 2,328.5 2,389.8 2,668.9 2,857.3 3,155.1
% of GDP 25.2 28.7 33.8 36.4 39.5 44.3 43.3 46.6 47.3 49.5
Direct Investment Liabilities 172.4 220.0 273.0 316.2 391.5 534.7 539.6 674.2 696.8 745.6
% of GDP 4.6 5.4 6.4 7.0 8.0 10.2 9.8 11.8 11.5 11.7
Portfolio & Other Liabilities 779.9 939.8 1,168.4 1,334.7 1,543.4 1,793.8 1,850.2 1,994.7 2,160.5 2,409.4
% of GDP 20.6 23.3 27.4 29.4 31.5 34.2 33.5 34.9 35.8 37.8
Official 221.7 248.8 293.0 318.8 377.0 445.6 474.7 523.9 581.5 665.3
Banks 338.3 381.2 458.5 549.0 615.2 672.0 671.5 674.0 706.0 741.6
Non-bank 219.9 309.7 416.9 466.9 551.2 676.2 704.1 796.8 873.0 1,002.5
Memo Item:
% of GDP 19.2 21.3 24.8 27.2 29.2 31.5 31.6 32.2 32.7 34.4
Official 221.7 248.8 293.0 318.8 377.0 445.6 474.7 523.9 581.5 665.3
% of GDP 5.9 6.2 6.9 7.0 7.7 8.5 8.6 9.2 9.6 10.4
Non-Official 503.9 612.4 764.7 916.0 1,052.7 1,208.9 1,272.0 1,319.5 1,395.4 1,529.9
% of GDP 13.3 15.2 17.9 20.2 21.5 23.0 23.0 23.1 23.1 24.0
Equity Liabilities 226.6 298.6 383.6 416.2 505.3 674.1 643.1 825.6 880.4 960.0
% of GDP 6.0 7.4 9.0 9.2 10.3 12.8 11.6 14.4 14.6 15.1
Net Measures of External Liabilities – United States
(US$ billion) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993
Net External Liabilities −168.2 −128.5 −125.1 −58.1 −0.9 91.8 224.1 368.7 590.0 507.7
% of GDP −4.5 −3.2 −2.9 −1.3 0.0 1.7 4.1 6.4 9.8 8.0
% of Exports of G & S −55.6 −42.5 −39.2 −16.0 −0.2 18.1 40.2 61.3 92.1 76.7
Net Direct Investment
% of GDP −2.5 −3.9 −5.8 −5.7 −5.9 −5.4 −3.3 −2.4 −1.5 −3.9
% of Exports of G & S −30.9 −52.7 −77.0 −71.6 −64.6 −55.7 −32.3 −23.2 −13.9 −37.4
Net Portfolio and Other
% of GDP −2.0 0.8 2.8 4.5 5.8 7.1 7.3 8.9 11.2 11.8
% of Exports of G & S −24.7 10.1 37.8 55.7 64.4 73.8 72.5 84.5 106.0 114.1
Net Official 31.7 43.1 63.5 67.6 146.7 192.4 218.0 285.7 353.5 419.4
% of GDP 0.8 1.1 1.5 1.5 3.0 3.7 3.9 5.0 5.9 6.6
Net Banks −107.4 −66.1 −48.9 −0.5 −38.0 −41.9 −24.2 −16.4 38.0 106.2
% of GDP −2.8 −1.6 −1.1 0.0 −0.8 −0.8 −0.4 −0.3 0.6 1.7
Net Non-bank 0.9 53.6 106.1 135.6 177.5 224.3 210.0 239.0 287.6 229.5
% of GDP 0.0 1.3 2.5 3.0 3.6 4.3 3.8 4.2 4.8 3.6
Memo Item:
% of GDP 2.8 5.4 7.3 9.4 9.8 11.1 11.6 12.8 14.3 16.3
% of Exports of G & S 35.2 71.9 97.9 117.3 108.0 114.3 114.8 121.3 135.0 156.7
Net Official 31.7 43.1 63.5 67.6 146.7 192.4 218.0 285.7 353.5 419.4
% of GDP 0.8 1.1 1.5 1.5 3.0 3.7 3.9 5.0 5.9 6.6
Net Non-Official 74.7 174.0 249.1 359.3 333.1 388.0 421.4 444.2 511.5 617.4
% of GDP 2.0 4.3 5.8 7.9 6.8 7.4 7.6 7.8 8.5 9.7
Net Equity Liabilities −274.6 −345.6 −437.6 −484.9 −480.7 −488.6 −415.3 −361.1 −275.0 −529.2
% of GDP −7.3 −8.6 −10.3 −10.7 −9.8 −9.3 −7.5 −6.3 −4.6 −8.3
% of Exports of G & S −90.8 −114.4 −137.1 −133.2 −108.2 −96.2 −74.6 −60.0 −42.9 −80.0
Gross Portfolio and Other
% of GDP 11.7 13.8 16.6 17.3 18.9 20.6 20.9 22.8 24.7 27.8
% of Exports of G & S 146.0 184.9 222.4 215.7 209.0 212.6 207.3 216.8 233.0 268.1