Key points
- Adjusted for exchange rate movements, external liabilities increased by $28.4 billion during 2023 Q4. By region, the largest increase in liabilities was to Developed Countries, where the largest country increase was to the United States ($36.7 billion).
- Adjusted for exchange rate movements, external claims increased by $37.2 billion during 2023 Q4. By region, the largest increase in claims was on Developed Countries, where the largest country increase was on the United States ($125.8 billion).
Table A: Regional breakdown of external claims and liabilities
US$ billions - Not seasonally adjusted
|
Exchange rate adjusted flows |
Amounts outstanding |
|||
|---|---|---|---|---|
|
|
Q2 |
Q3 |
Q4 |
End-Dec 2023 |
|
2023 |
||||
|
Liabilities to: |
||||
|
Developed Countries |
-54.2 |
64.6 |
42.9 |
3,300.5 |
|
Offshore Centres |
9.1 |
10.7 |
1.6 |
695.5 |
|
Developing Countries |
-6.5 |
-17.6 |
8.7 |
542.3 |
|
International Organisations & Other |
-3.5 |
31.6 |
-24.7 |
1,019.7 |
|
Total |
-55.1 |
89.3 |
28.4 |
5,558.1 |
|
Claims on: |
||||
|
Developed Countries |
-54.2 |
132.2 |
60.6 |
4,243.1 |
|
Offshore Centres |
-12.4 |
-39.7 |
-13.1 |
502.0 |
|
Developing Countries |
-2.1 |
-3.4 |
11.3 |
452.7 |
|
International Organisations & Other |
-18.5 |
22.9 |
-21.5 |
152.0 |
|
Total |
-87.1 |
112.0 |
37.2 |
5,349.8 |
Exchange rate adjusted flows of external liabilities and claims: Developed Countries
Exchange rate adjusted flows vis-à-vis Developed Countries - 2023 Q4
(US$ billions) - Not seasonally adjusted
Table B: Amounts outstanding and exchange rate adjusted flows of liabilities by country - 2023 Q4 (US$ billions)
|
|
|
Total |
DTC |
Non-DTC |
|||
|---|---|---|---|---|---|---|---|
|
Amounts outstanding |
Flow |
Amounts outstanding |
Flow |
Amounts outstanding |
Flow |
||
|
Largest increases |
United States |
1,433.2 |
36.7 |
581.8 |
-11.8 |
851.4 |
48.4 |
|
France |
268.3 |
12.6 |
243.9 |
17.3 |
24.4 |
-4.7 |
|
|
Luxembourg |
94.2 |
11.2 |
14.1 |
-1.3 |
80.2 |
12.5 |
|
|
Ireland |
200.8 |
6.3 |
52.3 |
0.6 |
148.4 |
5.7 |
|
|
Australia |
67.7 |
4.6 |
36.7 |
-1.9 |
31.0 |
6.5 |
|
|
Largest decreases |
Switzerland |
247.9 |
-2.6 |
183.1 |
10.5 |
64.8 |
-13.1 |
|
Sweden |
14.3 |
-3.1 |
9.9 |
-4.2 |
4.4 |
1.1 |
|
|
Canada |
118.3 |
-4.7 |
97.3 |
0.8 |
21.0 |
-5.5 |
|
|
Netherlands |
140.0 |
-4.8 |
59.5 |
-0.8 |
80.5 |
-4.0 |
|
|
Germany |
337.9 |
-18.5 |
305.3 |
-18.9 |
32.6 |
0.4 |
|
Table C: Amounts outstanding and exchange rate adjusted flows of claims by country - 2023 Q4 (US$ billions)
|
|
|
Total |
DTC |
Non-DTC |
|||
|---|---|---|---|---|---|---|---|
|
Amounts outstanding |
Flow |
Amounts outstanding |
Flow |
Amounts outstanding |
Flow |
||
|
Largest increases |
United States |
1,671.4 |
125.8 |
686.8 |
57.9 |
984.6 |
67.9 |
|
Luxembourg |
167.9 |
22.7 |
18.3 |
5.8 |
149.6 |
17.0 |
|
|
Norway |
56.9 |
9.3 |
50.3 |
8.9 |
6.6 |
0.4 |
|
|
Australia |
71.2 |
8.4 |
41.5 |
3.1 |
29.8 |
5.2 |
|
|
Sweden |
36.5 |
4.8 |
18.9 |
2.3 |
17.6 |
2.4 |
|
|
Largest decreases |
Italy |
23.2 |
-7.4 |
12.5 |
-4.5 |
10.8 |
-2.9 |
|
Belgium |
29.8 |
-9.4 |
18.9 |
-9.2 |
10.8 |
-0.2 |
|
|
Switzerland |
216.9 |
-24.1 |
177.3 |
-22.8 |
39.6 |
-1.3 |
|
|
Japan |
395.0 |
-29.9 |
238.1 |
-3.4 |
156.9 |
-26.5 |
|
|
Germany |
440.3 |
-31.5 |
394.6 |
-31.3 |
45.7 |
-0.2 |
|
Exchange rate adjusted flows of external liabilities and claims: Offshore Centres
Exchange rate adjusted flows vis-à-vis Offshore Centres - 2023 Q4
(US$ billions) - Not seasonally adjusted
Table D: Amounts outstanding and exchange rate adjusted flows of liabilities by country - 2023 Q4 (US$ billions)
|
|
|
Total |
DTC |
Non-DTC |
|||
|---|---|---|---|---|---|---|---|
|
Amounts outstanding |
Flow |
Amounts outstanding |
Flow |
Amounts outstanding |
Flow |
||
|
Largest increases |
Jersey |
151.6 |
9.2 |
128.3 |
6.3 |
23.3 |
3.0 |
|
Guernsey |
59.0 |
6.3 |
43.9 |
1.6 |
15.1 |
4.7 |
|
|
Hong Kong |
150.5 |
2.2 |
79.0 |
-0.5 |
71.5 |
2.7 |
|
|
Cayman Islands |
116.4 |
1.2 |
1.6 |
-0.4 |
114.9 |
1.6 |
|
|
Curacao |
1.8 |
0.8 |
0.1 |
0.0 |
1.7 |
0.8 |
|
|
Largest decreases |
No other decreases greater than $ 0.1bn |
||||||
|
West Indies UK |
14.1 |
-0.6 |
0.3 |
0.0 |
13.8 |
-0.6 |
|
|
Macao |
0.8 |
-0.6 |
0.7 |
-0.6 |
0.1 |
0.0 |
|
|
Bahamas |
8.3 |
-0.7 |
5.6 |
-0.6 |
2.7 |
0.0 |
|
|
Singapore |
114.0 |
-18.4 |
69.8 |
-19.2 |
44.2 |
0.8 |
|
Table E: Amounts outstanding and exchange rate adjusted flows of claims by country - 2023 Q4 (US$ billions)
|
|
|
Total |
DTC |
Non-DTC |
|||
|---|---|---|---|---|---|---|---|
|
Amounts outstanding |
Flow |
Amounts outstanding |
Flow |
Amounts outstanding |
Flow |
||
|
Largest increases |
Jersey |
80.2 |
4.4 |
11.5 |
0.3 |
68.7 |
4.1 |
|
Bahamas |
5.0 |
2.3 |
4.0 |
2.1 |
1.1 |
0.2 |
|
|
Bahrain |
8.2 |
0.1 |
6.6 |
-0.1 |
1.5 |
0.3 |
|
|
Curacao |
4.7 |
0.1 |
4.6 |
0.1 |
0.1 |
0.0 |
|
|
No other increases greater than $ 0.1bn |
|||||||
|
Largest decreases |
Barbados |
0.3 |
-0.6 |
0.0 |
-0.6 |
0.3 |
0.0 |
|
Macao |
1.1 |
-1.2 |
1.1 |
-1.2 |
0.0 |
0.0 |
|
|
Hong Kong |
109.8 |
-5.2 |
48.4 |
-3.8 |
61.5 |
-1.3 |
|
|
Singapore |
89.9 |
-6.0 |
59.4 |
-9.1 |
30.6 |
3.1 |
|
|
Cayman Islands |
143.8 |
-6.4 |
41.3 |
-14.4 |
102.5 |
7.9 |
|
Exchange rate adjusted flows of external liabilities and claims: Developing Countries
Exchange rate adjusted flows vis-à-vis Developing Countries - 2023 Q4
(US$ billions) - Not seasonally adjusted
Table F: Amounts outstanding and exchange rate adjusted flows of liabilities by country - 2023 Q4 (US$ billions)
|
|
|
Total |
DTC |
Non-DTC |
|||
|---|---|---|---|---|---|---|---|
|
Amounts outstanding |
Flow |
Amounts outstanding |
Flow |
Amounts outstanding |
Flow |
||
|
Largest increases |
China |
70.6 |
6.3 |
63.5 |
5.1 |
7.1 |
1.3 |
|
Brazil |
10.0 |
5.3 |
6.7 |
5.0 |
3.3 |
0.2 |
|
|
Poland |
13.6 |
4.3 |
11.9 |
4.2 |
1.7 |
0.0 |
|
|
United Arab Emirates |
52.6 |
3.0 |
30.0 |
1.2 |
22.6 |
1.8 |
|
|
India |
38.5 |
2.6 |
35.4 |
2.7 |
3.1 |
-0.1 |
|
|
Largest decreases |
South Africa |
15.8 |
-1.3 |
11.3 |
0.3 |
4.5 |
-1.7 |
|
Oman |
4.4 |
-1.5 |
1.5 |
-0.8 |
2.8 |
-0.8 |
|
|
Taiwan |
15.8 |
-1.7 |
8.6 |
-1.0 |
7.2 |
-0.7 |
|
|
Czech Republic |
2.5 |
-2.2 |
1.7 |
-2.2 |
0.8 |
0.0 |
|
|
Mexico |
10.2 |
-4.6 |
6.4 |
-3.5 |
3.9 |
-1.1 |
|
Table G: Amounts outstanding and exchange rate adjusted flows of claims by country - 2023 Q4 (US$ billions)
|
|
|
Total |
DTC |
Non-DTC |
|||
|---|---|---|---|---|---|---|---|
|
Amounts outstanding |
Flow |
Amounts outstanding |
Flow |
Amounts outstanding |
Flow |
||
|
Largest increases |
Brazil |
30.2 |
7.1 |
8.3 |
5.0 |
21.9 |
2.1 |
|
Saudi Arabia |
30.7 |
5.8 |
6.7 |
0.4 |
24.1 |
5.3 |
|
|
United Arab Emirates |
64.6 |
3.7 |
40.1 |
1.9 |
24.5 |
1.8 |
|
|
Qatar |
59.7 |
3.1 |
39.1 |
0.3 |
20.6 |
2.8 |
|
|
Poland |
7.6 |
2.0 |
5.0 |
1.7 |
2.5 |
0.3 |
|
|
Largest decreases |
Czech Republic |
3.4 |
-1.3 |
2.3 |
-1.5 |
1.1 |
0.2 |
|
Thailand |
1.2 |
-1.3 |
0.5 |
-1.3 |
0.7 |
0.0 |
|
|
Israel |
14.5 |
-2.1 |
9.0 |
-1.8 |
5.5 |
-0.2 |
|
|
South Korea |
23.9 |
-2.7 |
8.4 |
-0.3 |
15.5 |
-2.4 |
|
|
South Africa |
9.6 |
-3.0 |
5.9 |
-0.8 |
3.7 |
-2.2 |
|
Queries
If you have any comments or queries about this data release, please email dsd_ibs@bankofengland.gsi.gov.uk
Next release date: 7 June 2024
