"Figure 6: Overall, market price effects have mostly had a negative impact on the NIIP over the last decade","" "Decomposition of net price effects on the NIIP, by financial instrument in portfolio investment, cumulative as a percentage of annualised nominal GDP, Quarter 1 (Jan to Mar) 2000 to Quarter 4 (Oct to Dec) 2019","" "","" "Notes","" "Unit","Cumulative percentage of GDP" "","" " ","Of which, Net Debt","Of which, Net Equity","Total price impact on portfolio investment" "2000 Q1","0.0","0.0","0.0" "2000 Q2","0.4","-0.8","-0.4" "2000 Q3","0.1","-2.2","-2.2" "2000 Q4","-0.2","-3.5","-3.7" "2001 Q1","0.1","-0.9","-0.8" "2001 Q2","0.5","-0.1","0.5" "2001 Q3","0.7","-0.7","0.0" "2001 Q4","0.3","-0.1","0.2" "2002 Q1","0.0","0.5","0.5" "2002 Q2","0.0","2.6","2.6" "2002 Q3","-0.4","5.0","4.6" "2002 Q4","-0.4","3.4","3.0" "2003 Q1","-0.6","4.2","3.6" "2003 Q2","-1.7","4.2","2.6" "2003 Q3","-1.7","5.5","3.8" "2003 Q4","-2.0","5.0","3.1" "2004 Q1","-1.8","7.0","5.2" "2004 Q2","-1.8","6.5","4.7" "2004 Q3","-2.9","3.5","0.6" "2004 Q4","-4.1","4.6","0.5" "2005 Q1","-4.3","3.1","-1.1" "2005 Q2","-5.7","1.0","-4.7" "2005 Q3","-6.1","2.3","-3.8" "2005 Q4","-7.0","5.2","-1.8" "2006 Q1","-6.8","5.2","-1.6" "2006 Q2","-6.9","3.8","-3.1" "2006 Q3","-6.2","5.2","-1.0" "2006 Q4","-6.1","6.6","0.6" "2007 Q1","-5.5","5.9","0.4" "2007 Q2","-4.5","7.3","2.9" "2007 Q3","-4.1","7.3","3.2" "2007 Q4","-4.4","4.2","-0.2" "2008 Q1","-1.0","2.4","1.4" "2008 Q2","-1.5","1.9","0.4" "2008 Q3","1.2","2.6","3.8" "2008 Q4","2.3","-3.0","-0.7" "2009 Q1","5.6","-4.3","1.4" "2009 Q2","0.3","-0.2","0.1" "2009 Q3","-6.9","-4.0","-10.9" "2009 Q4","-7.9","-3.9","-11.8" "2010 Q1","-10.7","-4.6","-15.3" "2010 Q2","-11.5","-4.1","-15.6" "2010 Q3","-14.7","-7.2","-21.9" "2010 Q4","-13.5","-6.9","-20.4" "2011 Q1","-14.5","-5.7","-20.3" "2011 Q2","-15.5","-6.0","-21.5" "2011 Q3","-14.6","-6.8","-21.4" "2011 Q4","-16.9","-8.3","-25.2" "2012 Q1","-18.6","-3.9","-22.6" "2012 Q2","-19.8","-6.0","-25.8" "2012 Q3","-23.3","-5.6","-28.8" "2012 Q4","-24.1","-3.1","-27.2" "2013 Q1","-25.2","-1.4","-26.6" "2013 Q2","-23.0","3.5","-19.5" "2013 Q3","-24.3","4.2","-20.1" "2013 Q4","-23.9","7.7","-16.2" "2014 Q1","-24.3","6.8","-17.5" "2014 Q2","-24.8","6.7","-18.1" "2014 Q3","-25.7","9.8","-15.9" "2014 Q4","-27.7","13.1","-14.5" "2015 Q1","-28.8","13.4","-15.4" "2015 Q2","-26.7","17.9","-8.7" "2015 Q3","-26.5","16.0","-10.5" "2015 Q4","-26.9","18.4","-8.5" "2016 Q1","-27.7","15.8","-11.9" "2016 Q2","-29.8","10.7","-19.0" "2016 Q3","-34.2","9.3","-24.8" "2016 Q4","-32.4","14.6","-17.8" "2017 Q1","-33.6","15.0","-18.6" "2017 Q2","-33.6","17.6","-16.0" "2017 Q3","-33.3","19.5","-13.7" "2017 Q4","-34.3","23.8","-10.5" "2018 Q1","-32.8","25.8","-7.0" "2018 Q2","-32.5","21.4","-11.1" "2018 Q3","-32.1","27.7","-4.4" "2018 Q4","-31.2","24.3","-6.9" "2019 Q1","-33.4","25.3","-8.1" "2019 Q2","-33.8","25.2","-8.7" "2019 Q3","-35.4","26.4","-9.0" "2019 Q4","-35.3","30.1","-5.1"