Key points
- Adjusted for exchange rate movements, external liabilities decreased by $65.6 billion during 2021 Q2. The decrease was more than accounted for by a decrease in liabilities to Developed Countries, which was largely attributable to the United States.
- Adjusted for exchange rate movements, external claims decreased by $34.0 billion during 2021 Q2. The largest decrease in claims was on Developed Countries, which was more than accounted for by Ireland.
Table A: Regional breakdown of external claims and liabilities
US$ billions - Not seasonally adjusted
| Exchange rate adjusted flows | Amounts outstanding | ||||||
Q4 | Q1 | Q2 | End-Q2 2021 | |||||
Liabilities to: | 2020 | 2021 |
|
|
| |||
Developed countries | 191.7 | 43.5 | - 99.0 | 3,315.9 | ||||
Offshore centres | 6.4 | 7.4 | 28.7 | 657.8 | ||||
Developing countries | 15.0 | 22.7 | 2.5 | 537.1 | ||||
International Organisations & Other | - 66.3 | - 2.6 | 2.2 | 1,054.7 | ||||
Total | 146.7 | 71.0 | - 65.6 | 5,565.4 | ||||
Claims on: | ||||||||
Developed countries | 84.5 | 88.1 | - 19.0 | 4,040.9 | ||||
Offshore centres | 26.3 | 22.9 | - 3.1 | 556.1 | ||||
Developing countries | 27.5 | - 4.1 | - 8.9 | 430.2 | ||||
International Organisations & Other | - 17.2 | 7.0 | - 3.0 | 189.7 | ||||
Total | 121.2 | 113.9 | - 34.0 | 5,216.9 | ||||
Chart 1: Exchange rate adjusted flows of liabilities by counterpart sector and region 2021 Q2 (US$ billions)
Chart 2: Exchange rate adjusted flows of claims by counterpart sector and region 2021 Q2 (US$ billions)
Exchange rate adjusted flows of external liabilities and claims: Developed Countries
Exchange rate adjusted flows vis-à-vis Developed Countries - 2021 Q2 (US$ billions)
Not seasonally adjusted
Chart 3: Flows of liabilities by country (5 largest increases/decreases)
Chart 4: Flows of claims by country (5 largest increases/decreases)
Table B: Amounts outstanding and exchange rate adjusted flows of liabilities by country - 2021 Q2
US$ billions - Not seasonally adjusted
|
| Total |
| DTC |
| Non-DTC | |||
|
| Amounts outstanding | Flow |
| Amounts outstanding | Flow |
| Amounts outstanding | Flow |
Largest flow increases | Netherlands | 182.8 | 13.4 |
| 83.7 | -2.6 |
| 99.1 | 16.0 |
Canada | 134.6 | 8.2 |
| 87.5 | 3.0 |
| 47.1 | 5.3 | |
Ireland | 239.9 | 4.6 |
| 70.8 | 8.6 |
| 169.1 | -4.1 | |
Cyprus | 7.8 | 0.8 |
| 0.4 | 0.0 |
| 7.3 | 0.7 | |
Greece | 8.9 | 0.6 |
| 2.8 | -0.2 |
| 6.2 | 0.8 | |
Largest flow decreases | United States | 1,326.6 | -49.4 |
| 541.0 | -28.3 |
| 785.7 | -21.1 |
Switzerland | 181.3 | -21.3 |
| 127.9 | -18.5 |
| 53.4 | -2.8 | |
Japan | 121.2 | -18.2 |
| 87.5 | -7.5 |
| 33.7 | -10.7 | |
France | 293.1 | -13.6 |
| 242.1 | -20.9 |
| 51.0 | 7.2 | |
Australia | 75.6 | -9.4 |
| 43.6 | -9.0 |
| 31.9 | -0.5 | |
Table C: Amounts outstanding and exchange rate adjusted flows of claims by country - 2021 Q2
US$ billions - Not seasonally adjusted
|
| Total |
| DTC |
| Non-DTC | |||
|
| Amounts outstanding | Flow |
| Amounts outstanding | Flow |
| Amounts outstanding | Flow |
Largest flow increases | Luxembourg | 161.5 | 18.3 |
| 42.5 | 12.7 |
| 119.0 | 5.5 |
Canada | 150.0 | 10.0 |
| 104.9 | -3.2 |
| 45.0 | 13.2 | |
United States | 1,341.5 | 6.1 |
| 457.7 | 3.2 |
| 883.8 | 2.8 | |
Germany | 563.0 | 2.2 |
| 519.4 | 10.2 |
| 43.7 | -8.0 | |
Australia | 76.3 | 1.7 |
| 41.1 | 4.2 |
| 35.1 | -2.5 | |
Largest flow decreases | Ireland | 206.1 | -20.7 |
| 71.0 | -9.0 |
| 135.1 | -11.7 |
France | 540.8 | -12.6 |
| 468.4 | -4.3 |
| 72.4 | -8.3 | |
Netherlands | 164.6 | -10.6 |
| 67.9 | -1.3 |
| 96.8 | -9.3 | |
Switzerland | 224.9 | -5.7 |
| 185.0 | -6.9 |
| 39.9 | 1.3 | |
Italy | 39.2 | -4.5 |
| 23.9 | -2.4 |
| 15.4 | -2.2 | |
Exchange rate adjusted flows of external liabilities and claims: Offshore Centres
Exchange rate adjusted flows vis-à-vis Offshore Centres - 2021 Q2 (US$ billions)
Not seasonally adjusted
Chart 5: Flows of liabilities by country (5 largest increases/decreases)
Chart 6: Flows of claims by country (5 largest increases/decreases)
Table D: Amounts outstanding and exchange rate adjusted flows of liabilities by country - 2021 Q2
US$ billions - Not seasonally adjusted
|
| Total |
| DTC |
| Non-DTC | |||
|
| Amounts outstanding | Flow |
| Amounts outstanding | Flow |
| Amounts outstanding | Flow |
Largest flow increases | Cayman Islands | 151.4 | 11.6 |
| 18.0 | -0.2 |
| 133.5 | 11.8 |
Hong Kong | 123.7 | 9.2 |
| 60.5 | -2.7 |
| 63.1 | 11.9 | |
Singapore | 89.6 | 5.8 |
| 65.6 | 5.1 |
| 24.0 | 0.7 | |
Guernsey | 54.9 | 3.6 |
| 47.2 | 2.8 |
| 7.7 | 0.8 | |
Barbados | 7.3 | 1.6 |
| 6.5 | 1.5 |
| 0.7 | 0.1 | |
Largest flow decreases | Bahamas | 17.1 | -1.2 |
| 13.0 | -0.3 |
| 4.1 | -0.9 |
Curacao | 1.1 | -1.0 |
| 0.3 | -0.4 |
| 0.8 | -0.6 | |
Bermuda | 25.3 | -0.7 |
| 14.8 | 0.3 |
| 10.5 | -0.9 | |
Isle of Man | 20.3 | -0.6 |
| 15.1 | -0.8 |
| 5.1 | 0.1 | |
Lebanon | 5.2 | -0.6 |
| 4.3 | -0.6 |
| 0.9 | 0.1 | |
Table E: Amounts outstanding and exchange rate adjusted flows of claims by country - 2021 Q2
US$ billions - Not seasonally adjusted
|
| Total |
| DTC |
| Non-DTC | ||||
|
| Amounts outstanding | Flow |
| Amounts outstanding | Flow |
| Amounts outstanding | Flow | |
Largest flow increases | Singapore | 102.8 | 4.3 |
| 69.6 | 3.4 |
| 33.2 | 0.9 | |
Jersey | 73.8 | 2.8 |
| 11.4 | -0.5 |
| 62.3 | 3.3 | ||
West Indies UK | 24.1 | 2.1 |
| 0.0 | 0.0 |
| 24.1 | 2.1 | ||
Hong Kong | 103.7 | 2.0 |
| 43.7 | -2.4 |
| 60.0 | 4.4 | ||
Macao | 3.4 | 1.2 |
| 3.4 | 1.2 |
| 0.0 | 0.0 | ||
| Cayman Islands | 190.2 | -12.4 |
| 71.4 | -12.1 |
| 118.8 | -0.3 | |
Bahamas | 4.9 | -2.2 |
| 3.9 | -1.4 |
| 1.0 | -0.8 | ||
Bermuda | 10.2 | -1.6 |
| 0.0 | 0.0 |
| 10.1 | -1.6 | ||
Bahrain | 7.5 | -0.8 |
| 5.6 | -0.9 |
| 2.0 | 0.1 | ||
|
|
|
|
|
|
|
|
| ||
*No other decreases more than $0.1 bn
Exchange rate adjusted flows of external liabilities and claims: Developing Countries
Exchange rate adjusted flows vis-à-vis Developing Countries – 2021 Q2 (US$ billions)
Not seasonally adjusted
Chart 7: Flows of liabilities by country (5 largest increases/decreases)
Chart 8: Flows of claims by country (5 largest increases/decreases)
Table F: Amounts outstanding and exchange rate adjusted flows of liabilities by country - 2021 Q2
US$ billions - Not seasonally adjusted
|
| Total |
| DTC |
| Non-DTC | |||
|
| Amounts outstanding | Flow |
| Amounts outstanding | Flow |
| Amounts outstanding | Flow |
Largest flow increases | United Arab Emirates | 44.9 | 4.2 |
| 23.7 | -0.4 |
| 21.2 | 4.6 |
India | 34.3 | 3.3 |
| 31.2 | 3.3 |
| 3.0 | 0.0 | |
Qatar | 22.3 | 3.3 |
| 12.2 | 1.7 |
| 10.1 | 1.5 | |
Russia | 15.9 | 2.2 |
| 9.9 | 2.1 |
| 6.0 | 0.1 | |
Poland | 5.2 | 1.8 |
| 3.8 | 1.8 |
| 1.4 | 0.0 | |
Largest flow decreases | Saudi Arabia | 72.1 | -5.3 |
| 42.1 | -8.0 |
| 30.0 | 2.7 |
Israel | 8.6 | -3.4 |
| 4.6 | -1.1 |
| 4.0 | -2.3 | |
Peru | 4.3 | -2.3 |
| 3.9 | -2.1 |
| 0.4 | -0.1 | |
Oman | 5.4 | -1.9 |
| 2.6 | -0.6 |
| 2.9 | -1.3 | |
Taiwan | 16.3 | -1.8 |
| 6.0 | -2.8 |
| 10.2 | 1.0 | |
Table G: Amounts outstanding and exchange rate adjusted flows of claims by country - 2021 Q2
US$ billions - Not seasonally adjusted
|
| Total |
| DTC |
| Non-DTC | |||
|
| Amounts outstanding | Flow |
| Amounts outstanding | Flow |
| Amounts outstanding | Flow |
Largest flow increases | United Arab Emirates | 60.2 | 1.8 |
| 37.0 | 1.4 |
| 23.2 | 0.4 |
Egypt | 15.5 | 1.4 |
| 3.9 | 0.3 |
| 11.6 | 1.1 | |
Ivory Coast | 1.2 | 0.4 |
| 0.1 | 0.1 |
| 1.1 | 0.4 | |
Bangladesh | 2.1 | 0.3 |
| 1.7 | 0.3 |
| 0.3 | 0.0 | |
Zambia | 0.5 | 0.2 |
| 0.1 | 0.1 |
| 0.5 | 0.2 | |
Largest flow decreases | Saudi Arabia | 26.8 | -2.6 |
| 5.9 | -0.8 |
| 20.9 | -1.7 |
South Africa | 13.1 | -2.4 |
| 4.8 | -0.7 |
| 8.3 | -1.8 | |
Turkey | 24.0 | -1.3 |
| 15.8 | -0.7 |
| 8.2 | -0.7 | |
Malaysia | 3.7 | -1.1 |
| 2.9 | -1.3 |
| 0.8 | 0.1 | |
China | 55.7 | -0.9 |
| 43.6 | -0.4 |
| 12.0 | -0.6 | |
