Croatia HR: BOP: Financial Account: Foreign Direct Investment: Net Outflows

1993 - 2023 | Yearly | USD mn | World Bank

Croatia HR: BOP: Financial Account: Foreign Direct Investment: Net Outflows data was reported at 1.363 USD bn in 2023. This records an increase from the previous number of -253.245 USD mn for 2022. Croatia HR: BOP: Financial Account: Foreign Direct Investment: Net Outflows data is updated yearly, averaging 141.440 USD mn from Dec 1993 (Median) to 2023, with 31 observations. The data reached an all-time high of 2.243 USD bn in 2014 and a record low of -1.785 USD bn in 2016. Croatia HR: BOP: Financial Account: Foreign Direct Investment: Net Outflows data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Croatia – Table HR.World Bank.WDI: Balance of Payments: Capital and Financial Account. Foreign direct investment refers to direct investment equity flows in an economy. It is the sum of equity capital, reinvestment of earnings, and other capital. Direct investment is a category of cross-border investment associated with a resident in one economy having control or a significant degree of influence on the management of an enterprise that is resident in another economy. Ownership of 10 percent or more of the ordinary shares of voting stock is the criterion for determining the existence of a direct investment relationship. This series shows net outflows of investment from the reporting economy to the rest of the world. Data are in current U.S. dollars.;International Monetary Fund, Balance of Payments database, supplemented by data from the United Nations Conference on Trade and Development and official national sources.;Sum;Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).

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Croatia Croatia HR: BOP: Financial Account: Foreign Direct Investment: Net Outflows

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Last	Previous	Min	Max	Unit	Frequency	Range
1,362.584 2023	-253.245 2022	-1,785.306 2016	2,242.974 2014	USD mn	yearly	1993 - 2023

Related Indicators for Croatia HR: BOP: Financial Account: Foreign Direct Investment: Net Outflows

Related indicators	Last	Frequency	Range
Croatia HR: BOP: Financial Account: Foreign Direct Investment: Net Outflows (USD mn)	1,362.584 2023	yearly	1993 - 2023
Croatia HR: BOP: Net Errors and Omissions (USD mn)	-1,757.777 2023	yearly	1993 - 2023
Croatia HR: BOP: Financial Account: Portfolio Investment: Net (USD mn)	-813.530 2023	yearly	1993 - 2023
Croatia HR: BOP: Reserves and Related Items (USD mn)	-875.337 2023	yearly	1993 - 2023
Croatia HR: BOP: Financial Account: Foreign Direct Investment: Net Inflows (USD mn)	3,589.231 2022	yearly	1992 - 2022
Croatia HR: BOP: Financial Account: Foreign Direct Investment: Net Inflows: % of... (%)	4.985 2022	yearly	1992 - 2022
Croatia HR: BOP: Financial Account: Portfolio Equity: Net Inflows (USD mn)	-23.484 2023	yearly	1993 - 2023
Croatia HR: BOP: Grants: Technical Cooperation (USD mn)	0.020 2011	yearly	1994 - 2011
Croatia HR: BOP: Grants: Excluding Technical Cooperation (USD mn)	0.260 2011	yearly	1992 - 2011
Croatia HR: BOP: Financial Account: Foreign Direct Investment: Net Outflows: % o... (%)	1.648 2023	yearly	1993 - 2023

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Croatia Key Series

National Accounts	Last	Frequency	Range
Forecast: GDP PPP Per Capita (PPP Intl $)	48,706.970 2027	yearly	1992 - 2027
Forecast: Nominal GDP Per Capita (USD)	23,248.660 2027	yearly	1992 - 2027
Forecast: Real GDP Growth (%)	2.800 2028	yearly	1993 - 2028
GDP Deflator Growth (%)	12.2 Dec 2022	quarterly	Mar 1996 - Dec 2022
GDP per Capita (USD)	2,178.494 2021	yearly	1996 - 2021
Gross Fixed Capital Formation (USD mn)	4,852.157 Jun 2024	quarterly	Mar 1995 - Jun 2024
Gross National Product (GNP) (USD mn)	82,762.141 2023	yearly	1990 - 2023
Gross Savings Rate (%)	18.3 Jun 2024	quarterly	Mar 1995 - Jun 2024
Investment: % of GDP (%)	26.5 Jun 2024	quarterly	Mar 1995 - Jun 2024
Nominal GDP (USD mn)	17,564.7 Dec 2022	quarterly	Mar 1995 - Dec 2022
Nominal GDP Growth (%)	8.893 Jun 2024	quarterly	Mar 1996 - Jun 2024
Private Consumption Expenditure (USD mn)	13,126.900 Jun 2024	quarterly	Mar 1995 - Jun 2024
Private Consumption: % of GDP (%)	58.5 Jun 2024	quarterly	Mar 1995 - Jun 2024
Public Consumption Expenditure (USD mn)	5,199.662 Jun 2024	quarterly	Mar 1995 - Jun 2024
Public Consumption: % of GDP (%)	23.2 Jun 2024	quarterly	Mar 1995 - Jun 2024
Real GDP Growth (%)	4.0 Dec 2022	quarterly	Mar 1996 - Dec 2022
Total Trade of Goods & Services: % of Nominal GDP (%)	104.813 Jun 2024	quarterly	Mar 1995 - Jun 2024

Production	Last	Frequency	Range
Industrial Production Index Growth (%)	0.4 May 2023	monthly	Jan 1999 - May 2023
Minerals Production (Metric Ton)	1,543,001.000 2022	yearly	2009 - 2022
Silver Production (Metric Ton)	1.000 1994	yearly	1992 - 1994

Sales, Orders, Inventory & Shipments	Last	Frequency	Range
New Orders Growth (%)	-7.7 Dec 2012	monthly	Jan 2009 - Dec 2012

Construction and Properties	Last	Frequency	Range
Building Permits (Unit)	825.000 Jun 2024	monthly	Jan 2002 - Jun 2024
House Prices Growth (%)	1.8 Dec 2023	semiannually	Jun 1996 - Dec 2023
Nominal Residential Property Price Index (2010=100)	171.441 Mar 2024	quarterly	Mar 2002 - Mar 2024
Nominal Residential Property Price Index Growth (%)	9.967 Jun 2024	quarterly	Mar 2000 - Jun 2024
Real Residential Property Price Index (2010=100)	128.935 Jun 2024	quarterly	Mar 2000 - Jun 2024
Real Residential Property Price Index Growth (%)	4.820 Mar 2024	quarterly	Mar 2003 - Mar 2024

Government and Public Finance	Last	Frequency	Range
Consolidated Fiscal Balance: % of GDP (%)	-2.6 2021	yearly	2002 - 2021
Forecast: Government Expenditure (EUR bn)	49.722 2029	yearly	1992 - 2029
Forecast: Government Net Debt (EUR bn)	58.999 2029	yearly	1998 - 2029
Forecast: Government Revenue (EUR bn)	48.368 2029	yearly	1992 - 2029
Government Debt: % of GDP (%)	61.5 Jun 2024	quarterly	Dec 1995 - Jun 2024
Tax Revenue (USD mn)	3,926.502 Dec 2019	quarterly	Mar 2015 - Dec 2019
National Government Debt (USD mn)	52,653.0 Jun 2024	monthly	Dec 1995 - Jun 2024
Consolidated Fiscal Balance (USD mn)	-963.223 Dec 2019	quarterly	Mar 2015 - Dec 2019
Tax Revenue: % of GDP (%)	26.1 Dec 2019	quarterly	Mar 2015 - Dec 2019

More Indicators for Croatia

Indicators	Last	Frequency	Range
Croatia Consumer Price Index (CPI): 2001=100: Health: Hospital Services (2001=100)	323.800 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Transport (2001=100)	111.700 Dec 2006	monthly	Jan 2001 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Transport: Purchase of Vehicles (2001=100)	94.100 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Transport: Purchase of Vehicles: M... (2001=100)	94.100 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Transport: Purchase of Vehicles: M... (2001=100)	97.000 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Transport: Operation of Personal T... (2001=100)	123.100 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Transport: OP: Spare Parts and Acc... (2001=100)	115.800 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Transport: OP: Fuels and Lubricant... (2001=100)	124.600 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Transport: OP: Maintenance and Rep... (2001=100)	119.700 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Transport: OP: Other Services (2001=100)	127.900 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Transport: Transport Services (TS) (2001=100)	127.500 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Transport: TS: Passenger Transport... (2001=100)	125.600 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Transport: TS: Passenger Transport... (2001=100)	129.600 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Transport: TS: Passenger Transport... (2001=100)	91.100 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Transport: TS: Passenger Transport... (2001=100)	139.600 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Transport: TS: Combined Passenger ... (2001=100)	127.200 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Transport: TS: Other Purchased Tra... (2001=100)	110.300 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Communication (2001=100)	110.200 Dec 2006	monthly	Jan 2001 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Communication: Postal Services (2001=100)	86.000 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Communication: Telephone and Telef... (2001=100)	110.500 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Recreation and Culture (RC) (2001=100)	110.500 Dec 2006	monthly	Jan 2001 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: RC: Audiovisual, Photographic and ... (2001=100)	80.300 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: RC: AV: Recording and Reproduction... (2001=100)	71.800 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: RC: AV: Photographic and Recording (2001=100)	82.800 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: RC: AV: Information Processing (2001=100)	77.000 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: RC: AV: Recording Media for Pictur... (2001=100)	100.100 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: RC: Other (2001=100)	107.100 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: RC: Other: Toys, Games and Hobbies (2001=100)	98.700 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: RC: Other: Sport, Camping and Open... (2001=100)	109.000 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: RC: Other: Gardens, Plants and Flo... (2001=100)	111.400 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: RC: Other: Pets and Related Produc... (2001=100)	104.400 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: RC: Recreational and Cultural Serv... (2001=100)	120.600 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: RC: Recreational and Cultural Serv... (2001=100)	117.000 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: RC: Recreational and Cultural Serv... (2001=100)	121.900 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: RC: Books, Newspapers and Statione... (2001=100)	105.300 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: RC: Books, Newspapers and Statione... (2001=100)	116.400 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: RC: Books, Newspapers and Statione... (2001=100)	98.700 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: RC: Books, Newspapers and Statione... (2001=100)	100.700 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: RC: Package Holidays (2001=100)	210.400 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Education (2001=100)	109.100 Dec 2006	monthly	Jan 2001 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Catering and Accommodation Service... (2001=100)	117.700 Dec 2006	monthly	Jan 2001 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Catering and Accommodation Service... (2001=100)	116.900 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Catering and Accommodation Service... (2001=100)	117.800 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Catering and Accommodation Service... (2001=100)	109.400 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Catering and Accommodation Service... (2001=100)	126.300 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Other Goods and Services (2001=100)	110.600 Dec 2006	monthly	Jan 2001 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Other Goods and Services: Personal... (2001=100)	109.400 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Other Goods and Services: Personal... (2001=100)	104.500 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Other Goods and Services: Personal... (2001=100)	115.700 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Other Goods and Services: Personal... (2001=100)	111.200 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Other Goods and Services: Other Pe... (2001=100)	105.600 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Other Goods and Services: Other Pe... (2001=100)	115.200 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Other Goods and Services: Other Pe... (2001=100)	101.300 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Other Goods and Services: Social P... (2001=100)	104.000 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Other Goods and Services: Insuranc... (2001=100)	122.100 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Other Goods and Services: Insuranc... (2001=100)	105.000 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Other Goods and Services: Insuranc... (2001=100)	133.500 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Other Goods and Services: Insuranc... (2001=100)	122.300 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Other Goods and Services: Other Fi... (2001=100)	127.300 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Consumer Price Index (CPI): 2001=100: Other Goods and Services: Other Se... (2001=100)	108.900 Dec 2006	monthly	Jun 2004 - Dec 2006
Croatia Trade Balance: USD: Annual (USD th)	-18,055,305.000 2023	yearly	1991 - 2023
International Reserves: Croatian National Bank (CNB): USD (USD mn)	29,733.460 Dec 2022	monthly	Dec 1992 - Dec 2022
Croatia International Reserves: CNB: USD: SDRs (USD mn)	1,326.903 Dec 2022	monthly	Jul 1993 - Dec 2022
Croatia International Reserves: CNB: USD: Reserve Position in the Fund (USD mn)	0.493 Dec 2022	monthly	Jan 1996 - Dec 2022
Croatia International Reserves: CNB: USD: Foreign Exchange: Currency and Deposit... (USD mn)	9,339.516 Dec 2022	monthly	Dec 1992 - Dec 2022
Croatia International Reserves: CNB: USD: Foreign Exchange: Bonds and Notes (USD mn)	18,953.459 Dec 2022	monthly	Sep 1995 - Dec 2022
Croatia International Reserves: USD: Banks Foreign Exchange Reserves (USD mn)	4,638.110 Dec 2022	monthly	Dec 1992 - Dec 2022
Croatia Official Reserves: FCR: Securities (USD mn)	18,953.459 Dec 2022	monthly	Dec 1999 - Dec 2022
Croatia Official Reserves: FCR: Currency and Deposits (CD) (USD mn)	3,229.942 Dec 2022	monthly	Dec 1999 - Dec 2022
Croatia Official Reserves: FCR: CD: Other National Central Banks, BIS and IMF (USD mn)	3,024.194 Dec 2022	monthly	Dec 1999 - Dec 2022
Official Reserves: FCR: CD: Banks Headquartered Abroad and Located in Croatia (USD mn)	205.748 Dec 2022	monthly	Dec 1999 - Dec 2022
Croatia Official Reserves: IMF Reserve Position (USD mn)	0.493 Dec 2022	monthly	Dec 1999 - Dec 2022
Croatia Official Reserves: SDRs (USD mn)	1,326.903 Dec 2022	monthly	Dec 1999 - Dec 2022
Croatia Official Reserves: Others (USD mn)	6,109.574 Dec 2022	monthly	Dec 1999 - Dec 2022
Croatia Official Reserves: Others: Reverse Repo (USD mn)	6,109.574 Dec 2022	monthly	Dec 1999 - Dec 2022
Croatia Base Money and CNB Bills: Currency Outside Credit Institutions (HRK bn)	30.331 Sep 2022	monthly	Jun 1994 - Sep 2022
Croatia Base Money and CNB Bills: Credit Institutions Cash in Vaults (HRK bn)	10.986 Sep 2022	monthly	Jun 1994 - Sep 2022
Croatia Base Money and CNB Bills: CNB Bills on Obligatory Basis (HRK bn)	0.000 Sep 2022	monthly	Jun 1994 - Sep 2022
Croatia Banks: Reserve Requirements (HRK mn)	12,369.640 Dec 2022	monthly	Jan 1993 - Dec 2022
Croatia Banks: Reserve Requirements: HRK (HRK mn)	10,776.985 Dec 2022	monthly	Jan 1993 - Dec 2022
Croatia Banks: Reserve Requirements: Foreign Currency (HRK mn)	1,592.655 Dec 2022	monthly	Oct 1998 - Dec 2022
Croatia Banks: Other Obligatory Deposits with the CNB (HRK mn)	0.000 Feb 2017	monthly	Jan 1993 - Feb 2017
Croatia Banks: Statutory Reserves Deposited with the CNB: HRK (HRK mn)	5,904.273 Dec 2022	monthly	Jan 1993 - Dec 2022
Croatia Banks: Statutory Reserves Deposited with the CNB: Foreign Currency (HRK mn)	0.000 Feb 2017	monthly	Oct 1998 - Feb 2017
Croatia Number of Banks (Unit)	23.000 2021	yearly	1993 - 2021
Croatia Number of Banks: State Owned (Unit)	2.000 2021	yearly	1993 - 2021
Croatia Number of Banks: Private Domestic (Unit)	7.000 2021	yearly	1993 - 2021
Croatia Number of Banks: Foreign Owned (Unit)	14.000 2021	yearly	1993 - 2021
Croatia Banking System: % State Owned Banks (%)	5.930 2021	yearly	1996 - 2021
Croatia Banking System: % Private Domestic Banks (%)	3.450 2021	yearly	1996 - 2021
Croatia Banking System: % Foreign Owned Banks (%)	90.620 2021	yearly	1996 - 2021
Croatia Tourist Arrivals: Domestic (Person)	446,581.000 Aug 2024	monthly	Nov 1999 - Aug 2024
Croatia Nights Spent: Domestic Tourists (Night)	2,256,680.000 Aug 2024	monthly	Nov 1999 - Aug 2024
Croatia Tourist Arrivals: Foreign: Europe: Belgium (Person)	42,766.000 Aug 2024	monthly	Nov 1999 - Aug 2024
Croatia Tourist Arrivals: Foreign: Europe: Belarus (Person)	4,087.000 Aug 2024	monthly	Nov 1999 - Aug 2024
Croatia Tourist Arrivals: Foreign: Europe: Bosnia and Herzegovina (Person)	129,241.000 Aug 2024	monthly	Nov 1999 - Aug 2024
Croatia Tourist Arrivals: Foreign: Europe: Bulgaria (Person)	9,850.000 Aug 2024	monthly	Nov 1999 - Aug 2024
Croatia Tourist Arrivals: Foreign: Europe: Czech Republic (Person)	203,785.000 Aug 2024	monthly	Nov 1999 - Aug 2024
Croatia Tourist Arrivals: Foreign: Europe: Denmark (Person)	13,449.000 Aug 2024	monthly	Nov 1999 - Aug 2024
Croatia Tourist Arrivals: Foreign: Europe: Estonia (Person)	4,260.000 Aug 2024	monthly	Nov 1999 - Aug 2024

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Balance of Payments

Balance of Payments: Current Account BPM6: Balance of Payments: Detailed Presentation BPM6: Balance of Payments: Direct and Portfolio Investment BPM6: Balance of Payments: Other Investment BPM6: Balance of Payments: Summary BPM6: Gross External Debt: by Debtor and Creditor BPM6: International Investment Position Current Account as % of GDP

Balance of Payments: Capital and Financial Account BPM6: Balance of Payments: Analytical Presentation: Annual BPM6: Balance of Payments: Detailed Presentation: Annual BPM6: Balance of Payments: Goods and Services BPM6: Balance of Payments: Primary and Secondary Income BPM6: Gross External Debt BPM6: Gross External Debt: Projected Future Principal Payments BPM6: International Investment Position: Annual External Debt: Net Flows and Net Transfers