External debt of an economy represents actual current liabilities between residents and non-residents, based on debt instruments, at a certain date. The statistical research of the external debt includes standard reports for Gross External Debt and Gross External Claims.
The most used external debt indicator is the gross external debt, which at any given time is the outstanding amount of current and not contingent liabilities that require payment(s) of principal and /or interest by the debtor at some point(s) in the future and that are owed to nonresidents by residents of an economy.
External debt statistics also include indicators for net external debt i.e. the difference between the stock of gross external debt and gross external claims. In its structure, net external debt is identical with the gross external debt and claims, where the standard presentation contains classification by institutional sectors, maturity and debt instruments.
At the end of 2019, the gross external debt amounted to Euro 8,191 million (72.2% of GDP) which is a quarterly decrease of Euro 390 million, while gross external claims decreased by Euro 526 million to Euro 5,383 million (47.5% of GDP). The larger quarterly decrease in claims relative to the reduction in liabilities increased the net external debt by Euro 137 million. Thus, at the end of December 2019 it amounted to Euro 2,808 million, i.e. 24.8% of GDP. The increase in the net external debt in the fourth quarter reflects the higher private net debt (by Euro 201 million), amid a decrease in the public net debt (by Euro 65 million).Read more...
Archive on External Debt
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