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Joint Presentation to Joint Committee on Finance, Public Expenditure and Reform by Central Bank of Ireland and Central Statistics Office Non-Financial Corporate Debt 7 March 2012 Sectoral Coverage and Definitions Private business sectors (NACE B to N) Industry, Construction, Distribution and Services (excluding Financial Services) No Agriculture or Public Services Small, < 50 persons employed Medium, 50 to 249 persons employed Large, 250 + persons employed Central Statistics Office, Ireland 2 Number of Active Enterprises by Size Class 1% Total Enterprises = 60,000 Micro (<10) 22% Small Other Small 25% Medium Large Central Statistics Office, Ireland 52% 3 Number of Persons Employed by Size Class 2% 3% < 10 Micro Small 10 - 19 Small 20 - 49 Small 18% 39% 50 - 249 Medium 250+ Large 38% Persons Engaged = 1 million Central Statistics Office, Ireland 4 Turnover by Size Class 2% 2% < 10 Micro Small 10 - 19 Small 15% 20 - 49 Small 50 - 249 Medium 49% 31% 250+ Large Note: Excludes Financial sector Central Statistics Office, Ireland Turnover = €314 billion 5 Gross Value Added by Size Class 3% 2% < 10 Micro Small 10 - 19 Small 12% 20 - 49 Small 50 - 249 Medium 53% 30% 250+ Large Gross Value Added = €84 billion Central Statistics Office, Ireland 6 Composition of Debt by Country 2010 % GDP United States 87% Germany 60% United Kingdom 72% 49% 98% Greece 45% Portugal 65% 111% 76% 128% 55% 134% 76% 124% 0% 79% 71% 222% 100% 200% Central Statistics Office, Ireland Households 81% 219% 132% 7% 82% 82% Ireland 83% 87% 94% Spain 80% 109% 62% Italy 40% 85% 259% 300% Non-Financial Corporations 400% 500% 600% Financial Corporations 700% 800% 7 Government Scoreboard for the Surveillance of Macroeconomic Imbalances Private Sector Debt - threshold of 160% of GDP Net International Investment Position - threshold of -35% of GDP Government Debt - threshold of 60% GDP Central Statistics Office, Ireland 8 Gross Assets, Gross Liabilities and Net Assets by Sector 2010 4,000 3,000 €bn 2,000 1,000 117 -78 Households Government -194,219 311,372 117,153 -149,511 71,944 -77,568 - -4 -193 Financial corporations -3,604,796 3,601,172 -3,624 Non-financial corporations -809,136 616,368 -192,769 158 -1,000 -2,000 -3,000 -4,000 Liabilities Assets Net Central Statistics Office, Ireland Assets Liabilities Net Rest of World -2,898,722 3,056,565 157,842 9 Gross External Debt Q4 2010 – Q3 2011 IFSC and Non-IFSC 2,000 1,800 1,600 €bn 1,400 1,200 1,000 800 600 400 200 0 31 Dec 2010 Central Statistics Office, Ireland 31 Mar 2011 IFSC 30 Jun 2011 non-IFSC 30 Sep 2011 10 NFC Debt and GDP 2001 - 2010 400 350 300 €bn 250 200 150 100 50 0 2001 2002 Loans Central Statistics Office, Ireland 2003 2004 2005 2006 Securities other than shares 2007 2008 2009 2010 GDP Current Prices 11 Loan & Debt Securities Liabilities v’s Loan,Deposits & Debt Securities Assets of NFCs 2001-2010 300 200 €bn 100 - -100 -200 -300 -400 2001 2002 Central Statistics Office, Ireland 2003 2004 Loans,Deposits &Debt Securities - assets 2005 2006 2007 2008 Loans& Debt Securities Liabilities 2009 Net 2010 12 Lenders to Non-Financial Corporations 400 350 300 €bn 250 200 150 100 50 2001 2002 Central Statistics Office, Ireland 2003 NFC 2004 Banks 2005 Treasury 2006 Govt 2007 ROW 2008 2009 2010 13 Take a closer look www.cso.ie Central Statistics Office, Ireland