France international investment position
France's quarterly international investment position shows external assets and liabilities.
| Indicator | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | Q4-2023 | Q3-2023 | Q2-2023 | Q1-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net international investment position (assets minus liabilities)2 | ||||||||||||||
| Total4 | -862,681 | -885,446 | -872,684 | -866,373 | -866,747 | -704,010 | -834,175 | -787,954 | -920,417 | -908,321 | -851,355 | -895,526 | -877,473 | |
| Direct investment2 | 572,703 | 532,779 | 535,513 | 520,913 | 552,597 | 567,558 | 548,673 | 562,955 | 551,623 | 546,212 | 537,450 | 510,081 | 499,565 | |
| Equity and investment fund shares | 568,265 | 542,590 | 536,242 | 549,196 | 575,515 | 552,245 | 522,563 | 542,376 | 527,112 | 526,537 | 508,746 | 495,958 | 495,629 | |
| Debt instruments | 4,438 | -9,810 | -729 | -28,284 | -22,918 | 15,314 | 26,110 | 20,578 | 24,510 | 19,675 | 28,704 | 14,123 | 3,936 | |
| Portfolio investment2 | -1,159,496 | -1,122,519 | -1,095,908 | -1,058,534 | -1,127,942 | -1,087,758 | -1,173,001 | -1,128,558 | -1,220,388 | -1,291,597 | -1,162,355 | -1,192,856 | -1,207,606 | |
| Equity and investment fund shares | -230,793 | -231,682 | -205,536 | -173,077 | -255,271 | -147,353 | -238,238 | -221,636 | -340,083 | -366,842 | -370,757 | -406,401 | -420,248 | |
| Debt securities2 | -928,701 | -890,838 | -890,372 | -885,457 | -872,672 | -940,405 | -934,763 | -906,922 | -880,305 | -924,755 | -791,598 | -786,456 | -787,358 | |
| Short-term debt securities | -88,887 | -92,104 | -89,608 | -72,343 | -79,258 | -115,019 | -110,067 | -84,550 | -53,522 | -70,033 | -7,871 | -10,093 | -17,238 | |
| Long-term debt securities | -839,814 | -798,734 | -800,763 | -813,112 | -793,414 | -825,385 | -824,696 | -822,372 | -826,784 | -854,721 | -783,727 | -776,363 | -770,121 | |
| Financial derivatives and employee stock options | -181,722 | -162,540 | -182,528 | -162,265 | -158,651 | -135,867 | -156,901 | -134,612 | -154,915 | -136,043 | -119,887 | -122,899 | -120,686 | |
| Other investment2 | -481,516 | -493,996 | -457,768 | -459,460 | -435,252 | -320,375 | -310,197 | -331,709 | -330,799 | -245,255 | -316,062 | -297,502 | -261,992 | |
| Currency and deposits | -1,621,978 | -1,659,814 | -1,665,882 | -1,716,990 | -1,688,637 | -1,449,673 | -1,493,853 | -1,416,267 | -1,436,395 | -1,304,922 | -1,407,936 | -1,368,232 | -1,385,453 | |
| Loans | 964,401 | 964,365 | 991,912 | 1,033,995 | 1,029,618 | 894,582 | 946,849 | 853,378 | 886,685 | 816,134 | 868,048 | 840,087 | 906,056 | |
| Net position excluding non-defaultable instruments | -921,555 | -911,819 | -941,432 | -977,466 | -947,587 | -896,379 | -911,861 | -906,488 | -916,023 | -895,349 | -827,506 | -805,451 | -757,211 | |
| External assets1 | ||||||||||||||
| Total4 | 11,802,600 | 11,406,282 | 11,320,349 | 11,179,564 | 11,039,380 | 10,797,807 | 10,696,603 | 10,432,803 | 10,410,500 | 9,951,609 | 10,211,636 | 10,044,824 | 9,946,423 | |
| Direct investment2 | 2,053,450 | 2,034,646 | 2,013,058 | 2,012,869 | 2,057,291 | 2,008,567 | 1,937,660 | 1,952,658 | 1,948,007 | 1,935,597 | 1,944,106 | 1,922,107 | 1,918,375 | |
| Equity and investment fund shares | 1,504,171 | 1,491,007 | 1,472,585 | 1,473,750 | 1,496,163 | 1,461,344 | 1,405,715 | 1,411,144 | 1,407,304 | 1,398,352 | 1,378,603 | 1,364,426 | 1,360,502 | |
| Debt instruments | 549,279 | 543,639 | 540,474 | 539,118 | 561,128 | 547,224 | 531,945 | 541,514 | 540,702 | 537,245 | 565,503 | 557,681 | 557,873 | |
| Portfolio investment2 | 3,853,304 | 3,824,527 | 3,754,324 | 3,641,226 | 3,507,627 | 3,459,304 | 3,385,838 | 3,299,723 | 3,256,395 | 3,021,605 | 2,920,368 | 2,919,011 | 2,823,632 | |
| Equity and investment fund shares | 1,410,167 | 1,457,247 | 1,363,019 | 1,298,937 | 1,227,685 | 1,261,954 | 1,193,703 | 1,164,875 | 1,128,684 | 1,012,759 | 944,786 | 970,056 | 940,648 | |
| Debt securities2 | 2,443,138 | 2,367,279 | 2,391,305 | 2,342,289 | 2,279,942 | 2,197,350 | 2,192,135 | 2,134,848 | 2,127,711 | 2,008,845 | 1,975,582 | 1,948,954 | 1,882,984 | |
| Short-term debt securities | 253,253 | 238,501 | 252,064 | 270,469 | 257,297 | 242,460 | 244,176 | 263,051 | 281,229 | 257,251 | 295,819 | 293,230 | 266,475 | |
| Long-term debt securities | 2,189,885 | 2,128,778 | 2,139,241 | 2,071,821 | 2,022,645 | 1,954,891 | 1,947,959 | 1,871,797 | 1,846,482 | 1,751,595 | 1,679,764 | 1,655,724 | 1,616,508 | |
| Financial derivatives and employee stock options | 1,876,235 | 1,714,801 | 1,701,674 | 1,722,790 | 1,686,961 | 1,732,409 | 1,688,406 | 1,625,874 | 1,568,352 | 1,538,564 | 1,738,788 | 1,679,039 | 1,630,011 | |
| Other investment2 | 3,632,262 | 3,471,478 | 3,523,286 | 3,509,706 | 3,485,000 | 3,325,094 | 3,427,447 | 3,310,578 | 3,403,685 | 3,237,481 | 3,398,874 | 3,317,016 | 3,361,160 | |
| Currency and deposits | 1,843,446 | 1,703,144 | 1,721,313 | 1,663,236 | 1,627,077 | 1,601,897 | 1,657,315 | 1,642,703 | 1,703,759 | 1,644,338 | 1,721,883 | 1,685,607 | 1,666,238 | |
| Loans | 1,273,053 | 1,266,065 | 1,284,312 | 1,326,601 | 1,332,888 | 1,184,941 | 1,232,449 | 1,132,608 | 1,186,212 | 1,064,282 | 1,125,001 | 1,092,143 | 1,160,660 | |
| External liabilities1 | ||||||||||||||
| Total4 | 12,665,281 | 12,291,727 | 12,193,033 | 12,045,937 | 11,906,127 | 11,501,817 | 11,530,778 | 11,220,757 | 11,330,918 | 10,859,930 | 11,062,990 | 10,940,350 | 10,823,896 | |
| Direct investment2 | 1,480,747 | 1,501,867 | 1,477,545 | 1,491,956 | 1,504,694 | 1,441,009 | 1,388,987 | 1,389,703 | 1,396,384 | 1,389,385 | 1,406,656 | 1,412,026 | 1,418,810 | |
| Equity and investment fund shares | 935,906 | 948,417 | 936,343 | 924,554 | 920,648 | 909,099 | 883,152 | 868,768 | 880,192 | 871,815 | 869,857 | 868,468 | 864,873 | |
| Debt instruments | 544,841 | 553,449 | 541,203 | 567,402 | 584,046 | 531,910 | 505,835 | 520,936 | 516,192 | 517,570 | 536,799 | 543,558 | 553,937 | |
| Portfolio investment2 | 5,012,800 | 4,947,046 | 4,850,232 | 4,699,760 | 4,635,569 | 4,547,062 | 4,558,839 | 4,428,281 | 4,476,783 | 4,313,202 | 4,082,723 | 4,111,867 | 4,031,238 | |
| Equity and investment fund shares | 1,640,960 | 1,688,929 | 1,568,555 | 1,472,014 | 1,482,956 | 1,409,307 | 1,431,941 | 1,386,511 | 1,468,767 | 1,379,601 | 1,315,543 | 1,376,457 | 1,360,896 | |
| Debt securities2 | 3,371,839 | 3,258,117 | 3,281,677 | 3,227,746 | 3,152,614 | 3,137,755 | 3,126,898 | 3,041,770 | 3,008,016 | 2,933,600 | 2,767,180 | 2,735,410 | 2,670,342 | |
| Short-term debt securities | 342,140 | 330,605 | 341,672 | 342,812 | 336,555 | 357,479 | 354,243 | 347,601 | 334,751 | 327,284 | 303,690 | 303,323 | 283,713 | |
| Long-term debt securities | 3,029,699 | 2,927,512 | 2,940,004 | 2,884,933 | 2,816,059 | 2,780,276 | 2,772,655 | 2,694,169 | 2,673,266 | 2,606,316 | 2,463,491 | 2,432,087 | 2,386,629 | |
| Financial derivatives and employee stock options | 2,057,957 | 1,877,341 | 1,884,202 | 1,885,055 | 1,845,612 | 1,868,276 | 1,845,307 | 1,760,486 | 1,723,266 | 1,674,607 | 1,858,675 | 1,801,938 | 1,750,696 | |
| Other investment2 | 4,113,777 | 3,965,474 | 3,981,054 | 3,969,166 | 3,920,252 | 3,645,469 | 3,737,645 | 3,642,287 | 3,734,484 | 3,482,736 | 3,714,936 | 3,614,518 | 3,623,152 | |
| Currency and deposits | 3,465,424 | 3,362,958 | 3,387,195 | 3,380,226 | 3,315,714 | 3,051,570 | 3,151,168 | 3,058,970 | 3,140,154 | 2,949,260 | 3,129,819 | 3,053,839 | 3,051,691 | |
| Loans | 308,652 | 301,700 | 292,400 | 292,606 | 303,270 | 290,359 | 285,600 | 279,230 | 299,527 | 248,148 | 256,953 | 252,056 | 254,604 |
Latest reading
Total stood at −862,681 EUR million in Q1 2026. That is +22,765 EUR million from Q4 2025 and +4,066 EUR million from a year earlier. The series on this page is quarterly and runs from Q1 1999 to Q1 2026. Source: Eurostat – international investment position by country (bop_iip6_q), compiled by Banque de France.
- Latest
- −862,681 EUR million
- Q1 2026
- vs previous period
- +22,765 EUR million
- Q4 2025
- vs a year earlier
- +4,066 EUR million
About this data
France's quarterly international investment position shows external assets and liabilities. This dataset from Eurostat and the Banque de France details net positions, direct investments, portfolio investments, and other financial instruments. It tracks equity, debt securities, loans, and deposits since 1999.
Frequently asked questions
- What is the France international investment position?
- The France international investment position (IIP) measures the stock of external financial assets and liabilities of French residents relative to the rest of the world. It shows whether France is a net creditor or debtor globally.
- How often is the French international investment position updated?
- The Banque de France compiles this balance sheet quarterly, and the data is published by Eurostat. The historical series in this table track quarterly assets and liabilities since 1999.
- What breakdowns are available in the France IIP table?
- The table breaks down external assets and liabilities into direct investment, portfolio investment (including short-term and long-term debt securities), financial derivatives, and other investment such as loans, currency, and deposits.
- How does the international investment position differ from the balance of payments?
- While the France balance of payments records the flows of economic transactions over a period, the international investment position measures the stock of financial assets and liabilities at a specific point in time.
