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 the first quarter of 2021, the net external debt total Euro 3,297 million (28.4% GDP) and decreased on a quarterly basis by Euro 95 million. Thus, the decrease in the net external debt in the first quarter stems from the decrease in the private net debt by Euro 91 million, as well as from the decrease in the public net debt by Euro 4 million. The quarterly change in the net external debt is a reflection of the larger quarterly increase in claims relative to the increase in liabilities. Namely, the gross external debt at the end of the first quarter amounted to Euro 9,833 million (84.8% of GDP) and registered a quarterly increase of Euro 1,203 million, while gross external claims increased by Euro 1,298 million and amounted to Euro 6,537 million (56.4% of GDP). Read more...
Archive on External Debt
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