Key points
- Adjusted for exchange rate movements, external liabilities decreased by $214.7 billion during 2022 Q4. The largest decreases in liabilities were to Developed Countries and Offshore Centres. For Developed Countries the largest country falls were to the United States and France, while for Offshore Centres the largest country falls were to Singapore, Cayman Islands, and Guernsey.
- Adjusted for exchange rate movements, external claims decreased by $283.3 billion during 2022 Q4. The largest decrease in claims was on Developed Countries, with the largest decreases on the United States and Germany.
Table A: Regional breakdown of external claims and liabilities
US$ billions - Not seasonally adjusted
|
Exchange rate adjusted flows |
Amounts outstanding |
||||
Q2 |
Q3 |
Q4 |
End-Q4 2022 |
|||
Liabilities to: |
2022 |
|
|
|
||
Developed Countries |
8.6 |
- 49.2 |
- 80.9 |
3,195.1 |
||
Offshore Centres |
34.7 |
11.2 |
- 76.0 |
693.6 |
||
Developing Countries |
- 6.2 |
3.8 |
- 38.5 |
539.2 |
||
International Organisations & Other |
42.1 |
32.8 |
- 19.3 |
955.5 |
||
Total |
79.2 |
- 1.5 |
- 214.7 |
5,383.5 |
||
Claims on: |
||||||
Developed Countries |
79.8 |
64.8 |
- 221.3 |
3,999.4 |
||
Offshore Centres |
- 11.7 |
- 3.5 |
- 8.3 |
546.4 |
||
Developing Countries |
- 6.7 |
27.9 |
- 13.7 |
452.8 |
||
International Organisations & Other |
32.9 |
9.6 |
- 40.0 |
166.9 |
||
Total |
94.4 |
98.7 |
- 283.3 |
5,165.6 |
Footnotes
Chart 1: Exchange rate adjusted flows of liabilities by counterpart sector and region 2022 Q4 (US$ billions)
Chart 2: Exchange rate adjusted flows of claims by counterpart sector and region 2022 Q4 (US$ billions)
Exchange rate adjusted flows of external liabilities and claims: Developed Countries
Exchange rate adjusted flows vis-à-vis Developed Countries – 2022 Q4
(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 – 2022 Q4 (US$ billions)
|
|
Total |
DTC |
Non-DTC |
|||
|
|
Amounts outstanding |
Flow |
Amounts outstanding |
Flow |
Amounts outstanding |
Flow |
Largest flow increases |
Switzerland |
226.2 |
31.9 |
143.1 |
34.1 |
83.2 |
-2.2 |
Canada |
131.9 |
9.1 |
103.3 |
13.1 |
28.5 |
-4.0 |
|
Belgium |
56.4 |
6.5 |
46.6 |
5.7 |
9.8 |
0.8 |
|
Luxembourg |
89.5 |
3.2 |
16.4 |
1.2 |
73.2 |
2.0 |
|
Australia |
80.2 |
1.9 |
53.6 |
2.5 |
26.6 |
-0.6 |
|
Largest flow decreases |
United States |
1,336.7 |
-55.5 |
540.9 |
-39.6 |
795.9 |
-15.9 |
France |
248.4 |
-25.2 |
204.5 |
-20.8 |
43.9 |
-4.4 |
|
Germany |
333.8 |
-19.9 |
295.6 |
-16.1 |
38.2 |
-3.8 |
|
Netherlands |
157.0 |
-11.1 |
63.4 |
-1.4 |
93.6 |
-9.7 |
|
Ireland |
196.6 |
-10.1 |
50.2 |
-2.5 |
146.4 |
-7.6 |
Table C: Amounts outstanding and exchange rate adjusted flows of claims by country – 2022 Q4 (US$ billions)
|
|
Total |
DTC |
Non-DTC |
|||
|
|
Amounts outstanding |
Flow |
Amounts outstanding |
Flow |
Amounts outstanding |
Flow |
Largest flow increases |
Switzerland |
243.7 |
15.1 |
204.0 |
23.3 |
39.8 |
-8.2 |
Canada |
209.3 |
4.2 |
160.2 |
1.8 |
49.0 |
2.4 |
|
Belgium |
36.5 |
4.2 |
28.9 |
6.7 |
7.6 |
-2.5 |
|
Denmark |
13.1 |
2.0 |
8.0 |
2.9 |
5.1 |
-0.9 |
|
Australia |
75.8 |
1.9 |
44.9 |
-0.9 |
30.9 |
2.7 |
|
Largest flow decreases |
United States |
1,432.7 |
-113.3 |
551.8 |
-73.3 |
880.9 |
-40.0 |
Germany |
470.3 |
-75.0 |
430.9 |
-70.5 |
39.4 |
-4.5 |
|
Japan |
366.8 |
-26.7 |
218.3 |
-11.1 |
148.5 |
-15.6 |
|
Ireland |
161.1 |
-21.5 |
48.1 |
-6.3 |
113.0 |
-15.2 |
|
Netherlands |
134.4 |
-5.4 |
64.9 |
-0.7 |
69.6 |
-4.7 |
Exchange rate adjusted flows of external liabilities and claims: Offshore Centres
Exchange rate adjusted flows vis-à-vis Offshore Centres – 2022 Q4
(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 – 2022 Q4 (US$ billions)
|
|
Total |
DTC |
Non-DTC |
|||
|
|
Amounts outstanding |
Flow |
Amounts outstanding |
Flow |
Amounts outstanding |
Flow |
Largest flow increases |
Hong Kong |
149.1 |
5.6 |
85.1 |
5.6 |
64.0 |
0.0 |
Lebanon |
3.0 |
0.4 |
2.2 |
0.5 |
0.8 |
-0.1 |
|
Macao |
1.2 |
0.1 |
1.1 |
0.1 |
0.1 |
0.0 |
|
No other increases greater than $0.1 bn |
|||||||
Largest flow decreases |
Singapore |
142.4 |
-24.3 |
107.2 |
-21.1 |
35.2 |
-3.2 |
Cayman Islands |
129.9 |
-23.7 |
2.5 |
-15.4 |
127.4 |
-8.3 |
|
Guernsey |
43.0 |
-21.7 |
34.2 |
-23.2 |
8.8 |
1.5 |
|
Bahamas |
9.5 |
-7.4 |
6.0 |
-7.0 |
3.5 |
-0.4 |
|
West Indies UK |
13.7 |
-1.4 |
0.3 |
0.0 |
13.5 |
-1.4 |
Footnotes
Table E: Amounts outstanding and exchange rate adjusted flows of claims by country – 2022 Q4 (US$ billions)
|
|
Total |
DTC |
Non-DTC |
|||
|
|
Amounts outstanding |
Flow |
Amounts outstanding |
Flow |
Amounts outstanding |
Flow |
Largest flow increases |
Curacao |
8.1 |
2.7 |
7.9 |
2.7 |
0.2 |
0.0 |
Bahrain |
7.6 |
1.6 |
6.0 |
1.4 |
1.5 |
0.2 |
|
Macao |
3.3 |
1.0 |
3.3 |
1.0 |
0.0 |
-0.1 |
|
West Indies UK |
16.9 |
0.5 |
0.0 |
0.0 |
16.9 |
0.5 |
|
Bahamas |
5.0 |
0.2 |
4.3 |
0.6 |
0.7 |
-0.3 |
|
Largest flow decreases |
Hong Kong |
101.6 |
-12.0 |
41.4 |
-13.3 |
60.1 |
1.3 |
Jersey |
70.7 |
-1.3 |
9.9 |
0.3 |
60.8 |
-1.5 |
|
Guernsey |
21.2 |
-0.6 |
0.7 |
0.0 |
20.5 |
-0.6 |
|
Mauritius |
5.6 |
-0.3 |
2.6 |
0.0 |
3.0 |
-0.3 |
|
Isle of Man |
5.0 |
-0.2 |
1.0 |
0.1 |
4.0 |
-0.3 |
Exchange rate adjusted flows of external liabilities and claims: Developing Countries
Exchange rate adjusted flows vis-à-vis Developing Countries – 2022 Q4
(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 – 2022 Q4 (US$ billions)
|
|
Total |
DTC |
Non-DTC |
|||
|
|
Amounts outstanding |
Flow |
Amounts outstanding |
Flow |
Amounts outstanding |
Flow |
Largest flow increases |
Qatar |
39.4 |
4.4 |
11.6 |
1.4 |
27.7 |
3.0 |
South Korea |
16.7 |
3.3 |
9.2 |
1.6 |
7.5 |
1.8 |
|
Israel |
12.6 |
2.1 |
7.5 |
2.2 |
5.1 |
-0.2 |
|
Peru |
5.1 |
1.4 |
4.1 |
1.2 |
1.0 |
0.1 |
|
Brazil |
22.6 |
1.0 |
18.9 |
1.2 |
3.7 |
-0.2 |
|
Largest flow decreases |
Saudi Arabia |
76.9 |
-15.9 |
30.5 |
-16.6 |
46.4 |
0.7 |
China |
72.5 |
-14.4 |
66.5 |
-13.1 |
6.0 |
-1.4 |
|
Turkey |
10.4 |
-5.1 |
6.2 |
-4.1 |
4.2 |
-1.0 |
|
Kuwait |
20.6 |
-3.1 |
7.8 |
-1.0 |
12.8 |
-2.1 |
|
India |
38.5 |
-2.3 |
35.4 |
-2.0 |
3.1 |
-0.4 |
Table G: Amounts outstanding and exchange rate adjusted flows of claims by country – 2022 Q4 (US$ billions)
|
|
Total |
DTC |
Non-DTC |
|||
|
|
Amounts outstanding |
Flow |
Amounts outstanding |
Flow |
Amounts outstanding |
Flow |
Largest flow increases |
Brazil |
35.8 |
4.8 |
20.9 |
1.1 |
14.9 |
3.7 |
China |
55.3 |
2.3 |
43.8 |
0.7 |
11.5 |
1.6 |
|
United Arab Emirates |
56.7 |
2.1 |
38.2 |
-0.8 |
18.4 |
2.9 |
|
South Africa |
14.3 |
1.7 |
7.6 |
1.8 |
6.6 |
-0.1 |
|
South Korea |
21.1 |
1.1 |
12.3 |
0.8 |
8.8 |
0.3 |
|
Largest flow decreases |
Czech Republic |
6.4 |
-6.1 |
5.6 |
-6.2 |
0.8 |
0.1 |
India |
29.8 |
-4.0 |
16.1 |
-4.0 |
13.7 |
-0.1 |
|
Israel |
13.9 |
-3.8 |
8.4 |
-4.2 |
5.5 |
0.4 |
|
Taiwan |
12.1 |
-2.4 |
8.2 |
-3.2 |
3.8 |
0.8 |
|
Qatar |
58.7 |
-1.8 |
41.0 |
-1.8 |
17.7 |
0.0 |
Queries
If you have any comments or queries about this data release, please email dsd_ibs@bankofengland.co.uk
Next release date: 2 June 2023