FRO

In 2024, FRO had a net international investment position of 28.9% of GDP, owning 171.9% abroad and owing 143.0%. Of what it owes, 51.2% is equity-like (direct investment and portfolio equity) and the rest is debt.

The balance sheet through time

Year	Net position	Assets	Liabilities	Reserves	Current account
1998	n/a	n/a	n/a	n/a	19.4%
2000	n/a	n/a	n/a	n/a	9.3%
2005	20.0%	112.3%	92.4%	n/a	-5.7%
2010	31.2%	180.1%	148.8%	n/a	4.0%
2015	4.8%	148.4%	143.6%	n/a	8.5%
2020	12.5%	202.9%	190.4%	n/a	6.0%
2024	28.9%	171.9%	143.0%	n/a	6.8%

Source: External Wealth of Nations (Lane & Milesi-Ferretti), 1970-2024 All figures as a share of GDP. Every fifth year shown, plus the first and last. Crisis column is the FinObservatory atlas, deduplicated across its five chronologies. Methodology

What it owes, and in what form

The composition of external liabilities. Direct investment and portfolio equity are equity-like: their value falls when the country does badly, so the foreign investor shares the loss. Portfolio debt and other investment (mostly cross-border bank lending) are fixed claims that do not.

Year	Direct investment	Portfolio equity	Portfolio debt	Other investment
2003first	4.5%	0.0%	24.0%	71.5%
2024latest	3.9%	47.3%	23.4%	25.3%

Source: External Wealth of Nations (Lane & Milesi-Ferretti), 1970-2024 Share of total external liabilities. First and latest year with a complete instrument split (22 years available). Methodology

Reading this page

The crisis atlas records no crisis for FRO since 1970. That is what the record says. It is not a statement that none occurred, and it is certainly not a statement that none will.

EWN is a reconstruction. Where a country never reported a position, the authors estimate it, and the file carries no flag separating a reported cell from an estimated one, so this page cannot mark them either.

Methodology