Ireland’s external debt fell to €1.67 trillion in the first quarter of 2011, according to the Central Statistics Office.

This is down €47 billion from the €1.724 trillion recorded for 2010’s fourth quarter. The figures include general government, the monetary authority, financial and non-financial corporations and households.

General government foreign borrowing rose by €14.5 billion to €80.6 billion. However, liabilities of other sectors fell by €18 billion to €796 billion.

Direct investment liabilities increased by €8 billion to €254 billion, while debt liabilities of financial institutions fell €46 billion to €393 billion.

At the end of March, Ireland’s quarterly international investment position results show overall stocks of foreign financial assets of €2.559 billion, down €79 billion on the previous quarter. The corresponding overall stocks of foreign financial liabilities of €2.714 billion fell by €66 billion.