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 third quarter of 2020, the gross external debt total Euro 9,087 million (83.4% of GDP) and increased on a quarterly basis. A quarterly increase was also registered in the gross external claims, which amounted to Euro 5,946 million (54.6% of GDP) at the end of the quarter. Amid higher quarterly growth of liabilities relative to claims, the net external debt grew by Euro 187 million, and at the end of September 2020 it amounted to Euro 3.141 million (28,8% of GDP). The increase in the net external debt in the third quarter reflects the higher public net debt (by Euro 201 million), amid decrease in the private net debt (of Euro 14 million). Read more...
Archive on External Debt
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