The balance of payments and international investment position of Spain in 2018

Artículo de revista

Bibliographic Details
Authors: Alves, Pana, Martín Machuca, César, Roibás, Irene
Format: article
Publication Date:2019
Country:España
Institution:Banco de España
Repository:Repositorio Institucional del Banco de España
OAI Identifier:oai:repositorio.bde.es:123456789/9062
Online Access:https://repositorio.bde.es/handle/123456789/9062
Access Level:Open access
Keyword:Análisis financiero
Coyuntura económica
Net lending
Current account
Financial transactions
International investment position
External indebtedness
Comercio internacional
Finanzas internacionales
F10
F30
F32
F34
id ES_f45d69190cbbe4db7952d7d9458eac8d
oai_identifier_str oai:repositorio.bde.es:123456789/9062
network_acronym_str ES
network_name_str España
repository_id_str
spelling The balance of payments and international investment position of Spain in 2018Alves, PanaMartín Machuca, CésarRoibás, IreneAnálisis financieroCoyuntura económicaNet lendingCurrent accountFinancial transactionsInternational investment positionExternal indebtednessComercio internacionalFinanzas internacionalesF10F30F32F34Artículo de revistaAccording to the balance of payments (BoP) statistics, in an environment of ongoing economic upturn, Spain was once again a net lender in 2018, albeit to a lesser extent than in preceding years. The decline in net lending is explained by the decrease in the goods and services surplus, which largely reflected the slowdown in external markets, the negative impact on exports of the cumulative euro appreciation since 2017 and the rise in oil prices. The nation’s net lending, the positive amount of other flows and GDP growth were conducive to a decline in the Spanish economy’s negative net international investment position (IIP), as a percentage of GDP, for the fourth year in succession. In terms of financial flows, international investors made net purchases under the portfolio investment (mainly, long-term bonds issued by general government) and direct investment headings in 2018, a sign of their continuing confidence in the Spanish economy, despite the deterioration in the global macro-financial scenario in the second half of the year. However, the fact that the Spanish economy’s negative net IIP remains high (77.1% of GDP), both historically and by international standards, makes it vulnerable to shocks in the international capital markets2019info:eu-repo/semantics/articleapplication/pdfhttps://repositorio.bde.es/handle/123456789/9062reponame:Repositorio Institucional del Banco de Españainstname:Banco de EspañaInglésEconomic Bulletin / Banco de España, 2/2019Versión en español 123456789/8458info:eu-repo/semantics/openAccessoai:repositorio.bde.es:123456789/90622026-06-20T12:44:27Z
dc.title.none.fl_str_mv The balance of payments and international investment position of Spain in 2018
title The balance of payments and international investment position of Spain in 2018
spellingShingle The balance of payments and international investment position of Spain in 2018
Alves, Pana
Análisis financiero
Coyuntura económica
Net lending
Current account
Financial transactions
International investment position
External indebtedness
Comercio internacional
Finanzas internacionales
F10
F30
F32
F34
title_short The balance of payments and international investment position of Spain in 2018
title_full The balance of payments and international investment position of Spain in 2018
title_fullStr The balance of payments and international investment position of Spain in 2018
title_full_unstemmed The balance of payments and international investment position of Spain in 2018
title_sort The balance of payments and international investment position of Spain in 2018
dc.creator.none.fl_str_mv Alves, Pana
Martín Machuca, César
Roibás, Irene
author Alves, Pana
author_facet Alves, Pana
Martín Machuca, César
Roibás, Irene
author_role author
author2 Martín Machuca, César
Roibás, Irene
author2_role author
author
dc.subject.none.fl_str_mv Análisis financiero
Coyuntura económica
Net lending
Current account
Financial transactions
International investment position
External indebtedness
Comercio internacional
Finanzas internacionales
F10
F30
F32
F34
topic Análisis financiero
Coyuntura económica
Net lending
Current account
Financial transactions
International investment position
External indebtedness
Comercio internacional
Finanzas internacionales
F10
F30
F32
F34
description Artículo de revista
publishDate 2019
dc.date.none.fl_str_mv 2019
dc.type.none.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv https://repositorio.bde.es/handle/123456789/9062
url https://repositorio.bde.es/handle/123456789/9062
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv Economic Bulletin / Banco de España, 2/2019
Versión en español 123456789/8458
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:Repositorio Institucional del Banco de España
instname:Banco de España
instname_str Banco de España
reponame_str Repositorio Institucional del Banco de España
collection Repositorio Institucional del Banco de España
repository.name.fl_str_mv
repository.mail.fl_str_mv
_version_ 1869424465300946944
score 15,300724

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